Tag: business consulting
Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt … Read More »
Business Briefs. Comments Off on How to research a business customer’s creditworthiness
Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for business owners to start doing some strategic … Read More »
Business Briefs. Comments Off on For best results, start your strategic planning early
Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge in that you must save for your golden years while also creating, updating and eventually executing a succession plan. This is no easy task, … Read More »
Business Briefs. Comments Off on Putting together the succession planning and retirement planning puzzle
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The third 2019 estimated tax payment deadline for individuals is Monday, … Read More »
Tax Planning. Comments Off on The next estimated tax deadline is September 16: Do you have to make a payment?
Many companies now offer Health Reimbursement Arrangements (HRAs) in conjunction with high-deductible health plans (HDHPs). HRAs offer some advantages over the perhaps better-known HDHP companion account, the Health Savings Account (HSA). If you’re considering adding an HRA, you might assume … Read More »
Business Briefs. Comments Off on Some business owners can’t participate in their own companies’ HRAs
Among the fastest ways for a business to fail is because of mismanagement or malfeasance by ownership. On the other hand, among the slowest ways is an ineffective or dysfunctional sales department.
Companies suffering from this malady may maintain just enough … Read More »
Business Briefs. Comments Off on 4 tough questions to ask about your sales department
In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if there’s a discrepancy between the agency’s files and data reported … Read More »
Tax Planning. Comments Off on What to do if your business receives a “no-match” letter
Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a good thing — the company has grown to a point where simple bookkeeping and basic financial reporting just don’t cut … Read More »
Business Briefs. Comments Off on Is it time to hire a CFO or controller?
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune.
Winning at gambling
Whether you win at the casino, a bingo hall, or … Read More »
Tax Planning. Comments Off on The tax implications of being a winner
After insurance policies expire, many businesses just throw away the paper copies and delete the digital files. But you may need to produce evidence of certain kinds of insurance even after the coverage period has expired. For this reason, it’s … Read More »
Business Briefs. Comments Off on Taking a long-term approach to certain insurance documentation