On December 27, 2020, President Trump signed the “COVID-19 Relief Bill”. This is the latest round of stimulus legislation and is quite possibly the largest piece of legislation ever passed, totaling over 5,000 pages. While there are many key provisions under this omnibus legislation that ar
.SBA is reviewing all loans of $2 million or more, for eligibility, fraud or abuse, and compliance with loan forgiveness requirements. As part of this process, SBA is providing a Loan Necessity Questionnaire to lenders for them to provide to PPP borrowers teceived loans of $2 million or more.Read More
One of the most difficult business decisions is to walk away from the money that you have already spent. These losses are called "sunk" costs. This can be extremely frustrating, but the only efficient way to move forward is by focusing on future costs rather than dwelling on past losses.Read More
Managing and running a business, whether it is small or large, is tough. Although each business is unique in its own way, here are six ideas to help your business increase its profitability and cash flow.Read More
We get more calls regarding the new Qualified Business Income (“QBI”) deduction than any other aspects of the new tax law. Simply put, the QBI deduction is 20% of your “qualified business income.” The rules, however, are not simple, they are quite complicated. If you qualify the benefit is substantial.
Any business owner who has fended off calls from unpaid creditors or who has wondered how to meet the next payroll knows the importance of cash flow. Ironically, business success and cash shortages often go together. If growing sales are on credit, they create a larger accounts receivable which your company is funding. Your income statement may show a hefty profit, but profit doesn't pay the bills - cash does! That's why understanding and controlling the cash flow in your business is so important.Read More
John F. Craven CPA will be moderating a panel on Small Business Success Strategies at the Greater NY Chamber of Commerce Business EXPO that begins at 10:30am on September 23rd. Panelists include:Read More
AdMedia Partners, a leading media M&A advisor, performs an annual survey of senior executives. This year’s survey shows an expected deal increase for mergers and acquisitions in the media and technology industry. The following key points highlight AdMedia’s findings.Read More
If someone steals your identity, you will begin to feel the confusion and strain that comes with trying to recover your good name and pilfered finances. Identity theft is a real and growing concern for everyone; remain alert and prepare before it happens. We have put together some ways to deter identity thieves and protect your information:
- Shred financial documents as well as personal information before getting rid of them.
- Protect your Social Security number
- Remain cautious with personal information on the phone, by mail, or over the internet.
- Protect your home computer with anti-virus guard software.