Tax and business planning are important for the success of any organization, but especially for the family-owned enterprise. Here are some important questions that owners of family businesses need to address.
When you start a business, you have many decisions to make. One of those is the method of accounting your business will use for reporting income and expenses on your tax return. It is an extremely important decision. With few exceptions, the method you choose can only be changed in the future with the IRS’s […]
Investigate Before Buying A Business. Here’s some financial tips to consider.
Until the economy fully emerges from the pandemic, small businesses can help one another stay afloat. By collaborating with other like-minded firms, your business can find creative ways to strengthen local markets and encourage consumer loyalty.
Succession planning can be one of the most difficult issues faced by a family-owned business. As a business owner nearing retirement, how do you transfer leadership (and perhaps ownership) and keep the business running smoothly? Unfortunately, many businesses don’t survive the transition to the next generation. As with most business problems, good planning is the […]
Trimming expenses is something businesses must do in earnest to survive the economic downturn due to the pandemic. Here are some areas where your business may still have cost saving opportunity. Interest rates. If you have credit cards, banks will often listen to a request to lower your interest rates. This is especially true if […]