Many small businesses have been devastated by the coronavirus pandemic. Unlike their larger brethren, small companies typically lack the cash cushion or access to funds that bigger businesses enjoy. Even with new programs to help small businesses out, such as the Paycheck Protection Program, many are seeing their resources run dry. A large number of […]
Best Business Practices
Avoiding Capital Gains Taxes with a 1031 Exchange
Savvy investors can build wealth by deferring capital gains taxes via a 1031 exchange. Learn how it works and how it can help you as a real estate investor. For the in-depth information required to execute a 1031 exchange, a qualified intermediary is necessary. What is a 1031 Exchange? A 1031 exchange allows real estate […]
5 Benefits of Hiring an Accountant for Your Business
Running a small business is demanding, and there’s not always time to manage every task well. If you’re letting some tasks slip through the cracks, or if you want to prevent that from happening, it’s time to consider hiring an accountant. Here’s how your business will benefit if you do: 1. You will save time. […]
5 Ways to Lower Your SUTA Tax Rate
An employer’s SUTA tax rate is susceptible to fluctuation. If yours is escalating, contrary to popular belief, you actually might be able to reduce it! Check out these five strategies to curb your SUTA tax rate. Because the State Unemployment Tax Act – or SUTA – tax is mandatory, you may think you have no […]
4 Areas to Consider When Transitioning Employees to Working From Home
For businesses that haven’t traditionally embraced remote employees, it may be difficult to get up to full speed with the current turn of events. To make the inevitable transition less overwhelming, we assembled a handy checklist of actions to consider while adjusting to the new workplace reality. Organization Access your staff members and/or roles that […]
How to Improve Your Cash Flow
Slow paying customers, seasonal revenue variations, an unexpected downturn in sales, higher expenses — any number of business conditions can contribute to a cash flow crunch. If you own a small business, you may find the suggestions that follow helpful in minimizing cash flow problems. Billing and collections. Your employees need to work with clear […]