EIDL vs PPP Loans from the SBA

Loan written on chalkboard

Among all the talk of this and that SBA loans to help business activities, we thought we’d cut through the clutter of acronyms. For background information, read this post first to understand the basics. First of all, an EIDL (Economic Injury Disaster Loans) isn’t new. It’s an existing program administered through the Small Business Administration…

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SBA Loans – What’s the difference?

SBA Logo

It seems as though every business has an interest in obtaining some help from the SBA. While the process is complicated, the options are not. To help you decide which type of loan you may need, we offer the summary below. Bear in mind that this is not a DIY project. We’re here to help.…

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SBA Disaster Loans- Are they right for your business?

SBA loans for coronavirus

Due to the Coronavirus problems, we’ve received a bunch of questions from business owners about SBA Loans. The slide show below will walk you thru: Who can qualify, What are the requirements,  What are the terms,  and how we can help you apply [SlideDeck id=15802]    

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The truth about price-cutting- it’s not what you think

inventory turns formula

Sales are down, so we need to cut prices right? Not necessarily! The truth illustrated in the video below shows that price-cutting is almost never the way to grow profits. The video shows that, at a 35% profit margin, a 10% price cut means you must increase sales by 40% just to stay even. Hard…

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Christmas gifts and their tax benefits

Christmas gift

Holiday parties and gifts can help show your appreciation and provide tax breaks With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s a good idea to understand…

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Hitting the target with the Business Income Deduction

The new deduction of 20% of qualified business income (QBI) has been a source of confusion for clients (and accountants as well). But given that this is a deduction that you can obtain without spending additional money from your business, it’s well worth some effort to understand. You can find what defines a SSTB (see…

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Sell your C-Corp business and pay no tax?

tax breaks

Section 1202 allows you to sell qualified small business stock (QSBS) on a tax-free basis! Now, add to this no-tax-on-sale benefit to the 21 percent corporate tax rate from the Tax Cuts and Jobs Act, and you have a significant tax planning opportunity. Let’s just suppose the following: You sell your C corporation stock. The…

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Barter – Yes, it’s taxable

Bartering: A taxable transaction even if your business exchanges no cash It’s good to read the above sentence a couple of times before proceeding to the rest of this post. A small local business may find it beneficial to barter for goods and services instead of paying cash for them. If your business engages in…

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