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How To Take Money Out Of A Business!

When taking money out of a business, transactions must be carefully structured to avoid unwanted tax consequences or damage to the business entity. If the loan and repayments are not set up and processed properly, the IRS can reclassify the funding as nondeductible capital contributions and classify the repayments as taxable dividends, resulting in unexpected […]

Don’t Miss Out On Yearend Tax Planning Opportunities

To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. In response to the economic slowdown and losses of income, Congress passed several extensive laws to benefit individuals and businesses that suffered financial hardship because of COVID-19. However, 2020 has given rise to more than the usual tax-planning […]

Seven Things To Know Before You Take Out An EIDL!

Small Business Administration (SBA) Economic Injury Disaster Loans (EIDLs) can be a great source of low-interest funding for businesses struggling with the economic impact of the COVID-19 pandemic. Unlike Payroll Protection Program (PPP) loans, EIDLs are not forgivable—borrowers have to pay them back. But they have a low 3.75 percent interest rate and a long […]

How The New Tax Law, CARES, Impacts Individuals

  IRS and Congress have given individuals a number of ways to build up their cash reserves and/or pay less in taxes. Here are a few opportunities for taxpayers. Stimulus checks from the IRS Many of you recently received stimulus checks which were designed to help you weather the economic downturn.  These Economic Impact Payments […]

COVID-19: New SBA Loans For Small Business May Be A Great Idea!

The COVID-19 pandemic has upended all aspects of life around the world, including the world of business here in the U.S. If your business is struggling, you may be able to get some help from the federal Small Business Administration (SBA), which is authorized to provide loans to small businesses on an as-needed basis. There […]

Six Tips To Grow Your Business!

Six Tips To Grow Your Business! Looking for fresh, effective ways to grow your business? You’ve come to the right place. In today’s market, it can be difficult to stand out from the crowd, gain new customers or clients, and increase your company’s revenue. Note: We said difficult, not impossible! Below, you’ll find six fun, […]

How Business Owners Can Improve Cash Flow By Thinking Profit First!

How Business Owners Can Improve Cash Flow By Thinking Profit First! Small business owners don’t necessarily need to be numbers people in order to succeed. Successful business owner characteristics include drive, passion, the ability and will to follow things through, and the hustler’s spirit.  These things enables small business owners to constantly try that new […]