Latest posts
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Should you file Form SS-8 to ask the IRS to determine a worker’s status?
Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations. To find out how the IRS will classify a particular worker, businesses can file optional IRS Form […]
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Learn the warning signs of earnings “spin”
Management wants to paint the rosiest possible picture of a company’s financial performance. But aggressive earnings management, or “spin,” can mislead investors and lenders. Here are some ways U.S. Generally Accepted Accounting Principles (GAAP) can be manipulated to obscure the truth. Creative accounting vs. cooking the books Earnings management usually starts out small, but it […]
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Corporate culture: Rotten apples could spoil your financials
Auditors often say that the tone at the top of an organization trickles down to every level of the business. Is your company’s work environment ethical and open? If not, corporate culture assessments can help prevent and detect unethical and criminal behaviors. But, to cover all the bases, your external auditors generally must work closely […]
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7 ways to prepare your business for sale
For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. Others simply sell the business and move on. There are many variations in between, of course, but if you’re leaning toward a business sale, here are seven ways to prepare: 1. […]
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Dashboards can help nonprofit boards focus on critical goals
Not-for-profit board members need to keep an eye on how well their organizations are meeting major goals and furthering their missions. One of the easiest, quickest ways for boards to do this is with a “dashboard” of key performance indicators. Just as an automobile dashboard gives drivers a quick glimpse of their car’s status, a […]
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Attention Payroll Departments
Attention payroll departments: A new version of the 2018 wage levy exemption table will be released this month. The IRS announced plans to issue an update of the 2018 Publication 1494, “Tables for Figuring Amount Exempt from Levy on Wages, Salary, and Other Income,” sometime in February. The publication is used to determine the amount […]
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Don’t be a victim of tax identity theft: File your 2017 return early
The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even the extended deadline of October 15 (if you file for an extension by April 17). After all, why go through the hassle of filing your […]
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4 tips on making your marketing emails a blast
No business owner wants to send out spam. Even the term “email blast,” the practice of launching a flurry of targeted messages at customers and prospects, has mixed connotations these days. Yet email remains a viable and even necessary communications channel. Here are four tips on making your marketing emails a blast (in the fun […]
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When considering a loan request, what do banks look for?
The bank official who reviews the loan request is focused on repayment. Most loan officers request a copy of your business credit report to determine your ability to repay. The lending officer will consider the following issues while using the information you provided and the credit report: Have you invested at least 25% or 50% […]
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For business financing, what kinds of loans exist?
You must know the exact amount of money that you need, what your purpose is and how you will repay it in order to be successful in getting a loan. You must convince the lender in a written proposal that you are a good credit risk. There are two basic kinds of loans, although terms […]
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What can I do to raise money for my small business?
Although the process is complex and frustrating, raising capital is the most basic of all business activities. When looking for financing, there are various sources to consider. For most new businesses, the main source of capital comes from savings and other forms of personal resources. There are better options available than credit cards that are […]