Most taxpayers have gotten very used to taking 100% bonus depreciation. Most of the time, people have been getting used to taking 100% bonus and writing off whatever they’re spending on capEx. This has been the case since the Tax Cuts and Jobs Act in 2017 – the Trump tax cuts. You may be thinking
Category Archives: Advisory
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Strategic planning is important for your business because it provides a sense of direction and outlines measurable goals to keep you and your business on track. In order to make the most of strategic planning, your business should give careful thought to the goals it outlines and then back up these goals with realistic measures
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Business plans are not only for those just setting out on their journey in the marketplace. They are useful when acquiring a new business, forecasting growth, introducing a new product or service, entering a new market, responding to changes in the market or changing a significant aspect of your business. And like any other map,
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The most effective way to manage receivables in your business is to put into place a system that allows management the ability to: Provide credit to eligible customers only Keep track of receivables in a timely manner Trigger follow-up calls/emails/letters for reminders/past due/legal action and Trigger when management intervention or legal recourse becomes the next
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Many small business owners are entrepreneurs who are passionate creators that had an idea for a product or service, but they don’t always possess financial acumen. As a result, some business owners make financial mistakes which can jeopardize their dreams. Here are four of the most common mistakes and how business owners can avoid them.
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What’s the difference between water and steam? At 99 degrees water is merely hot, at 100 degrees it turns to steam and can move locomotives. Just one degree—a one per cent change—makes the difference. This is a great metaphor for business. In this short article we look at the impact that small improvements in the
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Whether you’re manufacturing high-tech parts, distributing food products, or building luxury homes, growing a business is all about relationships. Building and growing your network is so important that “it’s not what you know, it’s who you know” ought to be the official motto of small/medium sized business owners and entrepreneurs everywhere. But the importance placed
All businesses can benefit from outside advice. But it can be especially valuable to family businesses, which tend to be more insular. After all, in many cases management is made up of family members who’ve worked in the business for decades, perhaps never having been employed elsewhere. In addition, family dynamics can create conflicts that
Hopefully, your family business has chosen a great successor. But if you’re in the midst of training your successor — or even beginning to hand off the reins — and regretting your choice, how can you take a bad situation and turn it around? There are several options you might want to consider. Bring in
When I am on vacation or travelling, I often pick up a new business book to learn more about management, marketing or leadership. This time I decided to pick up a book and read for sheer pleasure. As I walked through LAX, a book called Pirate Hunters by Robert Kurson caught my eye. The book