Speed Up Payment on Receivables
Receivables don’t have much value if they aren’t turned into cash. Your organization really needs to keep tight control on its invoices outstanding so you can get an accurate picture of the receivables situation and take steps to improve the turnover of those accounts. Speed Up the Process Here are five steps that can help…
Are You Prepared for Audits of Your Business Systems?
Many US government contractors are expected to comply with contractual requirements for maintenance of adequate business systems. The Federal Acquisition Regulation (FAR) and Defense Federal Acquisition Regulation Supplement (DFARS) clauses incorporated into U.S. government contracts list detailed criteria associated with business systems for: Accounting, Estimating, Material management and accounting, Purchasing, Earned value management, and Property….
Profit From an Energy Audit
Organizations routinely evaluate opportunities to reduce expenses. However, many organizations are unaware of the savings that can result from an energy audit. Not only are many of the savings from an energy audit sustainable, they are typically well received by employees and customers. Even better, your organization may qualify for tax breaks for making energy-saving…
Keep Your Organization Running Smoothly With a Smart Strategy
In any company, making employees familiar with more than one job is critical to developing the organization and dealing with the unexpected. A sure-fire strategy for coping with unforeseen circumstances is a cross training program. Learning more than one job gives team members a look at the whole operation and keeps them motivated. It also…
Coping with Crisis in the Nonprofit World
Is your organization prepared for a crisis that could threaten its survival? It could be anything from a devastating economic downturn, to a domestic abuse or sexual harassment scandal involving a high-ranking official, to a natural disaster that destroys your main offices. Regardless of the nature and extent of the crisis, prompt action is required….
Tax-Saving Cash Flow Solution for Seniors with Appreciated Homes
Many older people own hugely appreciated homes but are short of cash. A side effect of large appreciation is the fact that selling the property to raise cash will trigger a gain well in excess of the federal home sale gain exclusion (up to $500,000 for joint-filing couples and up to $250,000 for unmarried individuals)….
Consider Tax Issues When Valuing a Business for Divorce
Let’s say divorcing spouses own part of the stock in a closely held corporation. This may be one of their biggest marital assets, and often one spouse decides to buy out the other party’s shares by transferring some assets in exchange for the stock. Before jumping headfirst into these transfers, it’s important to consider the…
Year-End Tax Planning Moves for Small Businesses
It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the…
A Strategic Plan Should Also Include a Succession Plan
Many small businesses prepare — and regularly update — a strategic plan, but many overlook this important task. Whether your business falls into the “have” or a “have-not” category, a strategic plan can be an invaluable resource to help your company accomplish its ultimate objectives. And part of this process involves having a succession or…
Outsourcing: Eight Steps to Help Mitigate Risks
The outsourcing of business processes has helped numerous companies improve their financial performance, as well as increase customer satisfaction. In extreme circumstances, outsourcing can literally ensure a company’s survival. However, it can involve a number of risks. In order to determine if outsourcing makes sense for your organization, consider taking the following steps: Identify and…