Accounting, Tax

Buying Versus Leasing Key Decision For Small Business Leaders

One recent small business leader survey indicated they were more interested in buying the property their brick-and-mortar facility domiciled in than at any time in the past 10 years.
The decision to buy or lease is one of the toughest such choices they face.

Small Businesses Fall Prey To Non-Existing Dummy Companies.

A surprising number of businesses fall prey to fraud by doing transactions with non-existent companies..
This fraud allows non-existent, or otherwise fraudulent businesses, to establish credit. These firms then dupe unwary small businesses.
Once duped, these victims sometimes employ specialized firms to collect bad debts.

Going Paperless This Tax Season Can Save Money, Time, Angst

For those companies thinking about transitioning accounting departments to paperless have this 2018 tax season, these tips can turn a potentially negative experience into a positive one.
Jesse Wood, CEO of eFileCabinet offers these five tips.

Higher Mandated Labor Costs Next Food Industry Challenge

As more and more consumers purchase prepared food rather than cook at home, the currently attractive margins for such offerings face mounting challenges.  Not the least are labor costs, which are under pressure from economic and regulatory trends. Integrating higher labor costs into the pricing algorithm represents the next major challenge for food sector leaders.

Whether a neighborhood deli, central food kitchen, or gourmet restaurant, the need to find ways of doing more with the same or fewer employees is expected to become more important in 2017.

The Good News About Bad Credit

As recently as a decade ago, if you were a small business owner with a bad personal or business credit score, you could forget about getting a loan from a traditional bank or credit union.

Fall Clean-Up Important To Being Profitable

March, April and May have long been associated with “spring cleaning,” and most small businesses take advantage of this time period to tidy up around the office and organize their work space. Unfortunately, too many small businesses forget to include a vital aspect of their everyday business in their spring cleaning routine– their virtual office.

The Myths and Realities of SBA Loans

Although many people do not value anything received free, there are many available resources that do not cost small businesses monies.

Kala Gibson, Senior V.P and Head of Business Banking, Fifth Third Bankreports seizing growth opportunities for your business is no easy task.

Cyber Theft Vigilance Is Critical During Tax Season

Personal and business data floods the mail and Internet during tax season.

And according to Tim Zeilman of the The Hartford Steam Boiler Inspection and Insurance Company identity thieves are on the lookout.

Zeilman thinks small business leaders need to keep some things in mind.

Small Businesses Can Be Hit With White Collar Crime

The typical organization in loses 5% of its revenues to fraud each year. 

Although 5% may not sound like much, when you consider that the average profit margin in the U.S. is only 6.5%, a typical fraud occurrence could easily mean the difference between solvency and bankruptcy.  Globally that translates to $3.5 trillion. 

Grading the Business You Want to Buy

Buying a business is often a life-changing investment. Any new owner knows they are putting their money and reputation on the line. Naturally, they want to find the perfect investment – but the perfect business does not exist.

According to Andrew Cagnetta, the CEO of Transworld Business Advisors, grading a business comes down to five key criteria: