Your business’ financials — where they stand currently and where they might be going next year — are incredibly important. Obviously, sales and expenses play enormous roles in the strength of your position. A fundamental and often-overlooked way of making your cash flow statement shine...
Preparing your non-profit’s annual budget is probably one of the least appealing parts of your job. Here is how to make the process a little less painful. Count your chickens. Before you start allocating resources, figure out what they are. This includes not only the...
Did you know that if you are self-employed you may be able to set up a retirement plan that allows you to contribute much more than you can contribute to an individual retirement account or even an employer-sponsored 401(k)? There is still time to set...
Nationwide, the median home sales price in the second quarter of 2017 rose 7.7 percent to $253,000, the biggest annual increase since the first quarter of 2014. However, the average weekly wage in the United States fell 1.4 percent, leading to a decrease in home...
Sometimes it happens: general partners (GPs) of a limited partnership intentionally mismanage the business or commit fraud. If you are a limited partner (LP) in such a partnership, it is important that you recognize the signs that something is amiss. No control LPs do not participate in...
How long will you take to collect the outstanding receivables that are reported on your balance sheet? Many companies take weeks or even months to collect invoices from customers. Fortunately, there are ways to convert them into cash now. Line of credit A line of credit can...
One could say that compensation is the original motivator, and how employers go about compensating employees remains a major factor in encouraging staff to do their best work. One compensation model that has beckoned many organizations is pay-for-performance. The concept Under the pay-for-performance model, an employee’s total...
President Trump’s campaign promise to abolish the federal estate tax may or may not be realized. Meanwhile, the ‘death tax’ still exists, and it continues to be a major concern for high net-worth taxpayers, including the owners of successful small companies. If a deceased taxpayer has...
There are more than 87,000 foundations in the United States, including family, corporate, and community foundations, according to the Foundation Center. If your non-profit is not actively seeking grants from these groups, you are neglecting a potentially significant income source. Know your target Probably the most important...
Any business owner developing a succession plan should rightfully assume that regular business valuations are a must. When envisioning the valuation process, you are likely to focus on its end result: a reasonable, defensible, value estimate of your business as of a certain date. Lurking...