Small business

U.S. companies, especially large technology companies, have a huge problem: their balance sheets are jam-packed with cash—massive mountains of cash that add up to nearly $1.5 trillion nationwide. Large companies started out 2012 putting cash to use via acquisitions and share buybacks, but they slowed down this activity toward the end of the year.

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It never ceases to amaze me how some people that achieve tremendous financial success in relatively short time squander it all. Celebrities—whether actors, athletes or “media personalities”—are the main culprits. Toni Braxton, the singer, song writer and actress, has sold over 40 million albums worldwide. Despite the nine figures in revenues she has generated over her career, she has filed for bankruptcy twice.

Go to the article:  Why Do So Many Celebrities Wind Up Broke?

By now most people have filed their tax returns or asked for an extension. While this provides a momentary respite from tax worries, nagging thoughts lurk in the back of many business owners’ minds: Will I get audited? Will the IRS dispute the amount I owe? For most people this is just normal anxiety associated with the unpleasantness of taxes. But for many people—especially small business owners—this mantra becomes reality.

Go to the article:  How To Avoid Getting Scammed By Fake Tax Relief Services

Imagine walking into a restaurant and after being seated you are presented with a menu…that has no prices. After asking the waiter how much your dish of choice costs, you’re told “I can’t tell you until after you finish eating.” Odds are you wouldn’t eat there.

Continue to the article:  Keep Your Legal Budget In Check

Most small businesses that have survived the Great Recession have emerged with serious battle scars. One of the areas that have suffered greatly is the quality of business credit ratings. As cash flow suffered from increasing bad debts and lower sales, many companies fell behind on their obligations to creditors and were forced to restructure their debts. Others violated the covenants of their debt agreements which can also require restructuring.

Go to the article: Getting A Business Loan With Bad Credit

The 2011 U.S. federal budget consists of approximately $3.82 trillion of expenditures. With a projected U.S. Gross Domestic Product of $15.3 trillion, federal government expenditures account for nearly 25 percent of our economy.  As a business owner, if one customer type accounts for 25 percent of your potential sales universe then you shouldn’t ignore them. On the other side of the equation are the federal agencies that have to spend their budgets. The current policy is to increase procurement from small businesses whether through direct contracting or subcontracting.

Go to the article:  How The SBA Helps Bigger Companies…Get Smaller

Bookkeeping is one of the least popular administrative tasks for small business owners. Many would rather go to the dentist for a root canal rather than make journal entries. What ends up happening in many cases is that the bookkeeping tasks are pushed aside and they pile up as the business owner procrastinates. Without bookkeeping, your accountant can’t do their job.

Continue to the article:  How To Outsource Your Bookkeeping

According to the latest data from the Bureau of the Census, there are roughly 5.9 million businesses in the U.S. Virtually all of these can be considered “small.”  Only 18,469 (or less than one-third of one percent) have more than 500 employees.  Even getting to several dozen employees is a feat worth of recognition:  over 89 percent of businesses have 20 employees or fewer on their payroll.  Despite the diversity in industries, resources, location ,and stage of growth, “the 89 percent” have one thing in common: you.

Go to the article:  Protect Your Business and Your Family from Yourself

Working with small business owners can be more interesting than watching the latest mystery thriller on Netflix.  Owners are far more complex than movie characters.  The stories of how they got started and how they stay in business can beat any movie plot. And sadly, the downfall (in cases where there are downfalls), can be caused by the most unlikely circumstances.  It really makes for great storytelling!

Go to the article:  Reality Check for Your Small Business Accounting