Business Management

  • 5 steps to streamline the month-end close

    • June 9, 2020
    • Posted by: Jason Schilling
    • Category: Accounting & Bookkeeping, Business Management
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    Many companies struggle to close the books at the end of the month. The month-end close requires accounting personnel to round up data from across the organization. Under normal conditions, this process can strain internal resources. However, in recent years the accounting and tax rules have undergone major changes — many of which your personnel

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  • Does your company have an emergency succession plan?

    • June 9, 2020
    • Posted by: Peter Maddalena
    • Category: Business Management, COVID-19 Updates, Succession Planning
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    For business owners, succession planning is ideally a long-term project. You want to begin laying out a smooth ownership transition, and perhaps grooming a successor, years in advance. And you shouldn’t officially hand over the reins until many minute details have been checked and rechecked. But it doesn’t always work out this way. As the

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  • Rioting damage at your business? You may be able to claim casualty loss deductions

    • June 8, 2020
    • Posted by: Jen Gostovic
    • Category: Business Management, Tax
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    The recent riots around the country have resulted in many storefronts, office buildings and business properties being destroyed. In the case of stores or other businesses with inventory, some of these businesses lost products after looters ransacked their property. Windows were smashed, property was vandalized, and some buildings were burned to the ground. This damage

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  • Adjust your expectations of business interruption coverage

    • April 30, 2020
    • Posted by: Bill Jacob
    • Category: Business Management, COVID-19 Updates
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    A natural place to turn when disaster strikes is insurance. The very reason you pay premiums and deal with the paperwork is to have these risk management policies in place when necessary. But, when it comes to business interruption coverage, you may have to adjust your expectations if you intend to file a claim because

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  • The SBA launches the Paycheck Protection Program

    • April 8, 2020
    • Posted by: Peter Maddalena
    • Category: Business Management, COVID-19 Updates, Tax, Tax Legislation
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    The Coronavirus Aid, Relief and Economic Security Act (CARES Act) allocates nearly $350 billion to a new lending program through the Small Business Administration (SBA), aimed at helping employers cover their payrolls during the coronavirus (COVID-19) pandemic. The loans under the Paycheck Protection Program (PPP) are subject to 100% forgiveness if certain criteria are satisfied,

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  • Using your financial statements during an economic crisis

    • April 7, 2020
    • Posted by: Jason Schilling
    • Category: Accounting & Bookkeeping, Business Management, COVID-19 Updates
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    The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions. One place to look for the information you need to make rational, reasonable moves is your financial statements. Under U.S. Generally Accepted Accounting Principles, these typically comprise a statement of cash flows, a balance sheet,

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