We helped a client from committing fraud. A human capital management firm that holds itself out as calculating tax credits told the business owner that they had $500K of employer tax credit based on their 2021 wages. They calculated the credit on the compensation paid to employees. They ignored the gross receipts requirement. We did… …Continue Reading
Ineligible Shareholders of an S Corporation
Ineligible shareholders in an S corporation are corporations, partnership, many Limited Liability Companies (LLC), Limited Liability Partnerships, ineligible trusts, and nonresident aliens. Certain single-member LLCs can be eligible shareholders of an S Corporation. See our blog on Eligible Shareholders,
Nexus 1N Stick “Call Your Shot”
Watch Jonathan Toews and Auston Matthews make havoc at their video shoot for the BAUER NEXUS 1N Stick! You Tube NEXUS 1N Stick
Business’s Loss Was Misstated
PROBLEM: A financial consultant colleague approached us about a client of hers that was unable to get traditional bank financing because the company’s financials showed a $800K loss last year. The company had invested $1.2MM in proprietary software that would help them grow their business from $27MM in revenue to $100K within a few years… …Continue Reading
Benchmarking Best Practices
By comparing your company to others in the same field you can easily evaluate your performance and maintain a path towards business success. Benchmarking helps you understand when you might need to adapt a new strategy to put your business on top of the market. With industry comparison, analysis of your business’ performance becomes more easily managed…. …Continue Reading
Strategies to Improve Cash Flow
Cash is often referred to as the lifeblood of a business because it is the primary indicator of business health. Without cash, the business will die. Four strategies for improving the cash flow in your business are to manage assets, manage accounts receivable, manage your suppliers, and manage trade volume. In a recent article for the… …Continue Reading
Sales Tax on Transportation and Delivery Charges
PROBLEM: Our client was uncertain if they were required to collect sales tax from their customers on the transportation charges they invoiced when products were sold and delivered to the customer. They had read conflicting information when they researched this on their own. They knew that some of their vendors did not collect sales tax when… …Continue Reading
Keep Your Business Running Smoothly
It isn’t too late to make a business resolution this year to work more effectively in and on your business! We want to help you get excited about your business again. It’s all about working smarter, not harder. By streamlining and delegating tasks, keeping a well-organized and stocked office, and providing a consistently enjoyable workspace, your… …Continue Reading
Improve Cash Flow Management
Cash flow management is an important part of any CFO’s job. Strong cash flow management practices often mean the difference between the success and failure of a company. In order to improve cash flow management, financial leaders should adhere to these tips: Thoroughly examine accounts receivable: It is very easy for cash to be tied up… …Continue Reading
Meeting the One Class of Stock Requirement of an S Corporation
An S corporation can only have one class of stock. If it violates this requirement, it may cause the corporation to lose its eligibility to be an S corporation. An S corporation is treated as having only one class of stock if all of the outstanding shares of stock confer identical rights to distribution and… …Continue Reading
