If your business sponsors a 401(k) plan, you might someday consider adding designated Roth contributions. Here are some factors to explore when deciding whether such a feature would make sense for your company and its employees. Key Differences Roth contributions differ from other elective deferrals in two...
During the COVID-19 pandemic, many people are working from home. If you are self-employed and run your business from your home or perform certain functions there, you might be able to claim deductions for home office expenses against your business income. There are two methods...
The COVID-19 pandemic has often made the due diligence process for business acquisitions more complex and time-consuming. But if you are buying a company, it is critical to dedicate your full attention to this part of the mergers and acquisitions (M&A) process — not only...
The events of the past year have taught business owners many important lessons. One of them is that, when a crisis hits, customers turn on their computers and look to their phones. According to one analysis of U.S. Department of Commerce data, consumers spent $347.26...
Using a strengths, weaknesses, opportunities, and threats (SWOT) analysis to frame an important business decision is a long-standing recommended practice. However, do not overlook other, broader uses that could serve your company well. Performance Factors A SWOT analysis starts by spotlighting internal strengths and weaknesses that affect...
Over the past year, the importance of leadership at every level of a business has been emphasized. When a crisis such as a pandemic hits, it creates a sort of stress test for not only business owners and executives but also supervisors of departments and...
Many business owners generate financial statements, at least in part, because lenders and other stakeholders demand it. You are also likely aware of how insightful properly prepared financial statements can be — especially when they follow Generally Accepted Accounting Principles. The question is – how can...
A new year has arrived and, with it, a fresh 12 months of opportunities to communicate with customers and prospects. Like every year, 2021 brings distinctive marketing trends to the table. The COVID-19 pandemic and resulting economic challenges continue to drive the conversation in most...
The term and concept known as ‘blockchain’ is hardly new. This technology surfaced more than a decade ago. Bitcoin, the relatively well-known form of cryptocurrency, has gotten much more attention than blockchain itself, which is the platform on which Bitcoin is exchanged. One might be tempted...
Congress recently passed, and President Trump signed, a new law providing additional relief for businesses and individuals during the COVID-19 pandemic. One item of interest for small business owners in the Consolidated Appropriations Act (CAA) is the opportunity to take out a second loan under...