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Small banks—those with less than $10 billion in assets—tend to outperform larger banks when it comes to customer service and personal attention. But they also face greater risks in the current economic environment:
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Continue ReadingEven though Hurricane Sandy doesn’t dominate the headlines anymore, small businesses in the affected regions are only just beginning the long road to recovery. Among the casualties are small business credit scores as invoices go unpaid and bills pile up creating a short-term cash crunch.
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Continue ReadingCurrent estate tax laws exempt the first $5.12 million per person (double per couple) in assets from estate taxes. This limit drops to $1 million in 2013. and the tax rate on all assets above that threshold will be taxed at a rate of 55 percent.
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Continue ReadingAccording to Thomson Reuters LPC, U.S. companies have access to $787 billion in revolving lines of credit. This is down significantly from 2011′s $1.28 trillion. The reduction is due in large part to companies holding back on requests for credit lines due to the uncertainty of the now-passed 2012 elections, as [...]
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Continue ReadingThe JOBS Act which authorizes new, broader and simpler ways for companies to raise money will go into effect in 2013. But in order for this to happen, the Securities and Exchange Commission, tasked with overseeing the implementation and enforcement of the JOBS Act, must decide on a plan of action [...]
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Continue ReadingGroupon’s stock price hit a new low yesterday of $2.69 per share, down 87 percent since its debut as a publicly-traded company. Investors have been selling the stock because of several key problems, which many believe are not fixable.
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Continue ReadingMillions of small businesses use accounting software packages like QuickBooks. Many, however, don’t have the proper training which can lead to overstating or understating your revenues. The first will cause you to overpay income taxes; the latter could lead to an audit and underpayment penalties.
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Continue ReadingIf your company needs to borrow $10 million, most large banks will fight for your business. But what if you need to borrow $10,000? Don’t expect the same treatment or an approval.
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Continue ReadingAccess to basic banking services has become more expensive in recent years. As banks look to offset loan and other losses, they are increasing the fees they charge consumers and small-business owners for paid services and converting previously free services (like checking) to paid.
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Continue ReadingThe Group of 20 Finance Ministers and Central Bank Governors, also known as the G20, is an influential group composed of the top financial representatives of the 19 largest economies in the world and the European Union’s Central Bank Chief. The G20 was formed in 1999 and they meet regularly to [...]
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