Determining the Best Accounting System for Your Business
Selecting the right accounting system is crucial for maintaining financial health and operational efficiency. Here are the essential steps to identify and implement the best accounting system for your business: 1. Assess Your Needs and Goals Identify Requirements: Determine the specific features your business needs, such as payroll, invoicing, inventory management, scalability, and integration with […]
Lets get that loan and what to consider
When banks evaluate a small business loan application, they typically consider several key factors to assess the creditworthiness and financial health of the business. Here are the primary criteria banks look for: 1. Credit History: o Personal and Business Credit Scores: Banks will review the credit scores of the business owner(s) and the business itself. […]
5 Steps To Boost Client Retention
In 2022, the number of accountants and financial professionals working in the US reached a record high. With increased competition, retaining your existing clients has become more crucial than ever. To help you navigate this competitive landscape, we share five essential steps professionals can take to foster long-term relationships and keep their customers happy and […]
Boosting Small Business Growth: Why SBA Loan Limits Must Rise in Today’s Economy
In today’s economy, the purchasing power of $5 million is not what it once was, with rising costs across housing, fuel, food, and labor sectors. The SBA (7a) loan limit, static since its last increase to $5 million in 2010, struggles to meet modern small business needs. With the SBA backing up to 85% of […]
Beyond the Finish Line: The Impact and History of the Boston Marathon 2024
The Boston Marathon started on Monday, April 19, 1897. The Olympics and a famous Greek legend inspired it. Millions of people have run the Boston Marathon. They face multiple challenges qualifying and then training, heat, exhaustion, heartbreak hill and then the 2 hours and 3 minutes if your Kenyan Geoffrey Mutai in 2011 or 4 […]
Electric Dreams Versus Hybrid Realities: Navigating the Future of Driving with the 2024 Lamborghini Revuelto
2024 Lamborghini Revuelto V12 plug in hybrid $608,000. Is an all-electric EV vehicle in your future? If you watched the Super Bowl this year, ads for EVs dominated the commercials. Early adopters with $100,000 or more flocked to the all-electric Tesla vehicles, but sales have cooled on EVs, and manufacturers have had to cut production […]
How to Reduce Business Debt Effectively
Effective debt management for business owners involves several key strategies: 1. Assessment and Planning: Start by assessing your current debt situation. Understand the types of debt you have, the interest rates, repayment terms, and monthly obligations. Develop a comprehensive debt repayment plan that aligns with your business’s cash flow and financial goals. 2. Budgeting and […]
Navigating Tax Season 2024: Deductions, Deadlines, and Donations
Traveling for Business in 2024? What’s Deductible? If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain requirements for out-of-town business travel within the United States must be met before you can claim a deduction. The rules apply if the […]
How Website Maintenance Saves Businesses from Disaster
We all know we must cut the lawn, clean the gutters and paint the house to keep it in good condition. But do you know that website maintenance is just as important. I recently gave across an article from my friend Kevin McNally of interactive pallet wrote. If you have a website you need to […]
Tax Due Dates
January 16 Individuals: Pay the fourth installment of 2023 estimated taxes (Form 1040-ES) if not paying income tax through withholding or not paying sufficient income tax through withholding. Employers: Deposit Social Security, Medicare and withheld income taxes for December 2023 if the monthly deposit rule applies. Employers: Deposit nonpayroll withheld income tax for December 2023 […]