As Hurricane Irma weakened into a tropical depression, the IRS said it is providing tax relief to people affected by the massive storm in parts of Florida, Puerto Rico, and the Virgin Islands (IR-2017-150). The relief applies to any area designated by the Federal Emergency Management Agency (“FEMA”) as qualifying. The IRS disaster relief page currently lists the islands of St. John and St. Thomas in the U.S. Virgin...

Read More

  Placing a realistic value on your company is one of the most important aspects in selling a business. Business valuation is an extremely subjective process. And while many business owners tend to inflate the value of their company, the real value will always be determined by the marketplace. Some of the many factors that come into play when valuing a business include: the historical financial statements (usually the last 3 to 5...

Read More

    During my 20+ years of experience I have concluded that most business ventures fail not because it was a bad idea, but because it was a poorly implemented idea; or there were entrepreneurial mistakes that ended up driving the business into a downward spiral. If you are a startup business, what will set you apart from the rest is having a plan then having the discipline to act on it. Mistakes are part of the growing process....

Read More

  Summer is a good time to do some pruning on your business. Now is the time to recharge some of the areas of your business that may have been neglected recently. While you have been able to get away with a few loose ends and haphazard processes, to stay competitive in the marketplace you must make some changes in the way business has been conducted. Here is the business pruning checklist that will improve your bottom-line and...

Read More

One of the oldest and most important notions in Business Finance is the statement that “Cash is King”. The purpose of this cliché is to focus examination for a business deal, product decision, or prospective investment on cash flow. This is especially important when the accounting profit & loss is different from the cash flows. Managing your cash flows is critical for the success of your business. Managing cash flow in...

Read More