Thank god Tax Day is over! But for some, the ordeal might just be starting. If you find yourself grappling with unpaid tax bills, the mountain of ensuing financial and legal complications can be daunting. However, you might be unaware…
The IRS has been cautioning small businesses and tax-exempt organizations about the prevalence of fraudulent offers claiming to assist in processing the Employee Retention Credit. It’s a well-known saying: “If it sounds too good to be true…you know the rest.”…
The IRS has reported that more than 1.5 million taxpayers have unclaimed refunds dating back to 2019. Typically, the deadline for filing prior year returns is three years, but due to the COVID-19 pandemic, the Internal Revenue Service has extended…
If you want to know how your company is doing then you DO NOT need to read the Balance Sheet. Instead you should read the Income Statement. The Income Statement measures “performance” during a specific period of time (a month,…
Sooner or later all businesses big and small need to borrow money. Cash flow gaps may be planned (i.e., financing growth) or unplanned. Either way, the way to avoid turning cash-flow shortages into cash-flow crisis is to have a financial…
Does this sound familiar? According to the SBA over 50% of small businesses fail within a few years of their founding. Many experts believe one of the principal reasons for their failure is the lack of money. I believe one…
The Boston Globe reported early in 2018 that “Employee theft is ‘shockingly common’ at nonprofits.” According to Gerry Zack, the incoming chief executive of the Society of Corporate Compliance and Ethics in Minneapolis as quoted in the Boston Globe, fraud…
As Eeyore, Winnie the Pooh’s pessimistic grey donkey friend once remarked: “They’re funny things, Accidents. You never have them till you’re having them.” As many a small business owner knows Cash Flow Crisis do happen and unfortunately many times we…