For owners and entrepreneurs, careful business planning is a required skillset that takes repetition and discipline to develop. Success in this process can be the difference between stability or a series of daily fire drills. On a very tactical level, one of the best business planning tools to use is a 13-week cash flow forecast.
The strength and potential upside of a business is not just dependent on the internal team. Many companies rely on third parties for critical resources and services, such as suppliers, institutions, investors, and customers. These relationships can be extremely valuable for driving growth and improving systems. The deeper the roots go, the more value you get. The flip side of the coin is that the business can be exposed to significant risk if those third parties become unstable or significantly change their operation. We recently saw this happen to customers of Silicon Valley Bank (SVB), who had their world turned upside down in a few short days. This is a good time for businesses and owners to take stock of their critical relationships and know where the potential risks exist. Below are important steps in the process.
Building a personal portfolio of valuable assets through hard work and dedication is a truly rewarding process. Once you’ve accumulated enough wealth to gain financial independence and freedom, you might think the hard part is over, but with a diverse portfolio spread across various investment classes, industries, and locations, it’s easy to lose track of where your money is going and how it’s performing. Managing your accumulated assets isn’t just a best practice, it’s a responsibility. Many advisors agree that maintaining accountability of your financial affairs through consolidation and regular review leads to the highest rates of return, optimized tax structure, and integrity of your estate plan.
Selling a business is a big deal, it’s like getting married, you want to make sure everything is perfect before you say “I do.” And one of the key players in making sure everything is perfect is your CPA.
As an emerging technology startup, you are focused on developing the next disruptive technology and bringing your product to market. It is easy to get bogged down and distracted with the many financial responsibilities and duties of running a business, while also trying to keep your Board and investors happy.
Given the pace at which business is moving in today’s world, it’s more important than ever to have access to accurate and timely financial information. This is where cloud-based accounting systems come in.
You may be surprised to learn that the language of accounting is diverse for small businesses and startups without specific reporting requirements. In a small business, Cash is King!
We are proud to be part of the 2022 Defense Innovation Days conference in Newport, RI put on by SENEDIA. There are few opportunities to get so many impactful leaders to share their thoughts on topics like global threats, climate change, workforce development, and equal opportunity.
Real Estate Investing – How Material Participation Can Reduce Your Taxes
When done right, real estate investing is an extremely popular and proven strategy to accumulate wealth and create stable cash flow. One of the most attractive reasons investors flock to real estate is the amount of available tax opportunities to reduce and defer taxes. While there are many interesting and valuable components, one that comes up frequently with our clients is the concept of material participation.
