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Ideas to Identify and Manage Problem Accounts

As a small business, once you decide to extend credit to a customer, you now have a financial stake in continuing that relationship even if you suspect there might be trouble brewing. While you don’t want to crack down on a good customer too hard, too soon, you also don’t want to be taken advantage […]

The Hidden Tax Consequences of Cryptocurrency

You may recognize the name Bitcoin and maybe even Ethereum, but what about Litecoin, Dogecoin or Ripple? These are just some of the more than 4,500 cryptocurrencies available today. There are hidden tax complications, however, associated with every cryptocurrency transaction. Here’s what you need to know. Every transaction has a tax consequence. The IRS treats cryptocurrency […]

How to Roll with a Continuous 12-Month Forecast

Tax and financial planning is a year-round proposition. In fact, you can benefit personally from a continuous, 12-month rolling forecast, much like a business does. What is a rolling forecast? Rolling forecasts let you continuously plan with a constant number of periods 12 months into the future. For example, on January 1, you would plan […]

Hire Your Kids for Tax Savings

Summer’s almost here, and soon most children will be on their long-awaited summer vacation. If you own or manage a business, have you thought of hiring your children, nieces, or nephews for a summer job? If you do it right, it can be a win-win situation for everyone. The kids will earn some money and […]

Know This Number!

Knowing your net worth and understanding how it is changing over time is one of the most important financial concepts that everyone needs to understand. This number is used by banks, mortgage companies, insurance companies and you! Your net worth impacts your credit score, which in turn impacts your interest rates and things as mundane […]

Protect Your Video Conference Meetings

Avalanche of new remote workers creates latest playground for hackers Hackers have found their new playground amid the increased use of video conferencing during the coronavirus pandemic: Zoombombing! Zoombombing defined Named for the company Zoom, the unfortunate first high-profile victim of this phenomena, zoombombing occurs when internet trolls hack video conference meetings and join as […]

New Law Requires Small Business to Provide Paid Leave

Families First Coronavirus Response Act provides worker benefits  The Families First Coronavirus Response Act is a new law passed last month that offers COVID-19 assistance for both employees and employers. This new law provides businesses with fewer than 500 employees the funds to provide employees with paid leave, either for the employee’s own health needs […]

Ideas to Help Make Payments During Tough Times

How to get cash quickly when you’re out of work You’re not alone in trying to navigate the financial uncertainty during the coronavirus pandemic. Millions of American workers who lost their paycheck because of COVID-19 need to find creative ways to pay bills. Here are 6 ways to get cash to help pay for your […]

Get Your Money: Ensure You Receive a Stimulus Payment

The IRS has two websites to help with stimulus payments: One for non-tax filers to register to receive their economic impact payment and a new “Get My Payment” tool. Background As a response to the COVID-19 pandemic, the government is sending $1,200 to single taxpayers with income less than $75,000 ($98,000 with phaseouts). $2,400 is […]

Key 2020 Coronavirus Tax Changes

Coronavirus uncertainty abounds. Thankfully, by monitoring tax changes on your behalf, we can work together to navigate the right path for you and your family. Here is a round-up of tax-related laws and information to help with tax planning for 2020. Early distribution penalty waived. The 10% early distribution penalty on up to $100,000 of […]