Archive of Situation Analysis Articles
  • Making Your Small Business a Beacon of Value in an Inflationary Sea
    Inflation pressures wallets, but small businesses can thrive by offering value, transparency, and community support, building resilience and customer loyalty.... more
  • The AI Advantage: How Small Businesses Can Thrive in the Age of Intelligence
    Artificial intelligence (AI) is no longer the realm of science fiction. It’s rapidly transforming the business landscape, and small businesses have the potential to benefit tremendously from this revolution.... more
  • Battling the Inflationary Beast: Strategies for Small Businesses in 2024
    Combatting inflation: Cost management, strategic pricing, leveraging workforce, diversification, financial planning, and risk management are key.... more
  • Does Your Business Need a CFO?
    When growth surpasses current financial management, hiring a CFO is crucial for strategic insights and risk management.... more
  • Navigating Turbulent Waters: Ten Biggest Issues Facing Small Businesses in 2024
    Adaptation, innovation, and resilience are key for small businesses to thrive amidst challenges and opportunities in 2024.... more
  • Getting Ready for Tax Season – Your Small Business Tax Preparation Checklist
    Prepare for tax season by meeting with your bookkeeper, gathering documents, verifying expenses, and setting aside funds for payments.... more
  • Small Businesses are Discovering the Power of Health Savings Accounts
    HSAs provide tax benefits: deductible contributions, tax-deferred growth, and tax-free medical withdrawals. Consult a financial advisor for optimal use.... more
  • 5 Innovative Ways to Fund Your Small Business
    Diverse funding options exist for small businesses: crowdfunding, peer-to-peer lending, online lenders, asset-based financing, and banking relationships.... more
  • Businesses Should Plan Ahead for Year-End Tax Strategies
    Strategize year-end tax plans now! Defer income, accelerate expenses, or invest in equipment. Expert advice ensures optimal savings.... more
  • Branding Your Small Business for a Competitive Edge
    Branding is crucial for small businesses. Define your identity, create a strong website, embrace content marketing, and focus on the customer experience to gain a competitive edge.... more
  • How to Increase Revenue in Your Business (without New Sales)
    Make customer service your top priority! You’ll see improvements to your bottom line. Here is why you should do it and how you should do it.... more
  • Small Businesses Not Innovating Risk Obsolescence
    Innovation doesn’t occur in a vacuum. Identifying and adopting innovative ideas and strategies to create more value in your business must be integral to your planning process.... more
  • Business Owners Do Better with a Coach
    Top athletes hire a team of coaches to help them get to the next level of performance. Learn how business owners can benefit from working with a coach.... more
  • How to Support Your Employees When Selling the Business
    Keep your employees’ best interests in mind when selling your business. Here are some tips to make them your central focus and ensuring a smooth transition while increasing the value of your business.... more
  • Strategies for Optimizing Remote Worker Productivity
    Businesses can optimize remote worker productivity utilizing these suggested strategies, such as strong leadership and frequent communications with their employees.... more
  • LLC or S-Corp, How to Choose the Right Business Structure
    Know the key differences in business structures and which is right for your business. There are significant legal and tax implications. Here is some basic information to help you get started.... more
  • SECURE Act 2.0 Impact on Business Owners
    There are provisions in the Secure Act 2.0 that target retirement savers new opportunities to save while enhancing benefits of retirement accounts. Your business will benefit.... more
  • Are You Working in Your Business or On Your Business? The Key to Growth is Delegation
    Create the conditions that allow you to focus almost exclusively on your core competencies and those activities that lead directly to revenues and profits. Grow your business by delegating.... more
  • New Legislation Expected to Boost Pooled Employee Plans and Small Business Tax Incentives
    A bill before Congress called the Simplifying Small Business Retirement Savings (SSBRS) Act could make it easier and cost-effective to offer retirement plans to employees. Here’s a look at this proposed bill.... more
  • Tips for Growing Your Business in 2023
    When growing your business, there are certain fundamental principles that can significantly increase your chances of success. Learn these principles.... more
  • Year-End Tax Planning for Business Owners
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  • 2021 Tax Law Changes for Small Business Owners
    Here is an overview of 2021 tax law changes for small business owners. Consult with your CPA for all the changes that may affect your small business.... more
  • There’s Still Time to Claim the Employee Retention Credit. What is it, and How to Qualify
    The Employee Retention Tax Credit (ERTC) can still be a critical lifeline for eligible businesses struggling to emerge from the havoc of COVID. Learn how it may help your business.... more
  • Plan Your Equipment Purchases Now for a Significant Year-End Tax Deduction
    If you have been considering a capital expenditure for your business, now would be the time to sit down with your business bank to discuss your best financing options.... more
  • Pre-Funding Your Business Exit with Excess Cash
    Create a plan to accumulate retirement capital. If you’re behind the savings curve because you’ve focused on investing in your business, you have several options that will enable you to catch up.... more
  • Navigating Your Small Business Through Economic and Market Turmoil
    Business as usual is less effective for businesses being rocked by external events, such as inflation, a declining stock market, or local market turmoil. But there are ways to manage your growth.... more
  • With Inflation Surging, a Midyear Review is More Critical Than Ever
    It is always good to do a midyear review and this year is more critical than ever. Here are the steps to conducting a midyear review.... more
  • Five Ways a Financial Advisor can Help Your Small Business
    Good financial advisors have the skill and expertise to discover gaps in the financial management of your business. Here are 5 ways they can help you.... more
  • Is Telework Becoming Essential for Small Businesses?
    Businesses have found they can increase productivity, employee retention, and profits with a properly structured telework regimen. Here are the facts about telework for small business.... more
  • Should a Small Business Offer a Retirement Plan for Their Employees?
    Generate a net gain for your business by offering a retirement savings plan for your employees. It can provide you with lower employee turnover cost, higher profits and tax savings.... more
  • More States Adopt the Pass-Through Entity (SALT Cap Workaround)
    As of December 1, 2021, nearly 20 states had enacted the PTE election with more to follow. There are some real and potential caveats PTE taxpayers need to consider.... more
  • Tips for Growing Your Business in 2022
    Taking your business to the next level can be challenging. Having a vision and a plan can increase your chances for success.... more
  • Unconventional Ways to Fund a Small Business
    There are many funding options available for your start-up or growing small business. When other options fail, you may wish to explore the more unconventional ways.... more
  • Year-End Tax Planning for Businesses Ahead of Biden’s Tax Plan
    Barring any legislative action to extend them, important tax rules affecting businesses will change or expire at year end. Businesses need to consider the following in their year end tax planning.... more
  • Planning for Natural Disasters
    Natural disasters can physically and financially impact your company. Creating a plan of scenarios and actions to be taken before and after will make your recovery easier.... more
  • Artificial Intelligence for Small Businesses
    Artificial Intelligence is being used by more and mor companies. The cost is becoming affordable to small businesses. Could it be right for you?... more
  • 2021 Tax Law Changes for Small Business Owners
    Here is an overview of 2021 tax law changes for small business owners. Consult with your CPA for all the changes that may affect your small business.... more
  • ERC Now Available to Recovery Startup Businesses
    The Employee Retention Credit benefits both business affected by the pandemic as well as start up business during that time. Here is some basic information.... more
  • Cyber Security Threats for Small Businesses
    Cybercrime is costly to small businesses. Here are four threats that small business owners should be alert for.... more
  • You Can Still Override the 5-Year Rule on inherited 401k Accounts, But You Need to Act Now
    The CARES Act extended the time period from 5 – 6 years to empty out an inherited retirement account. But time is running out. Learn what you need to do.... more
  • Owning a Small Business: Identifying & Managing Fear
    You have no control over the economy or financial crisis but, how you manage your business can help you through hard times. Don’t let fear get in the way... more
  • Competing with Other Small Businesses Online
    Small businesses are not created equally. The ones that provide the best online experience will keep their clients coming back. Here are some tips for providing that positive experience.... more
  • Will Your Business be the Next Ransomware Victim?
    The size of your business does not matter. You could be a target for a ransomware or other cyberattacks. What should you do?... more
  • Retirement for Small Business Owners
    Which retirement savings plan is right for you and your business? Here is some basic information on the types of plans to consider.Which retirement savings plan is right for you and your business? Here is some basic information on the types of plans to consider.... more
  • Growing a Small Business through Lead Generation
    There are many ways to generate leads. Here are some tips for creating your strategy.... more
  • What Employers Can Expect from the Secure Act 2.0
    The SECURE Act 2.0 introduces some significant enhancements to employers’ ability to provide quality retirement plans to their employees. Although it has a way to go, it has strong bipartisan support.... more
  • Small Business Creativity and Increased Market Share
    Fostering creativity by your employees can help your business overcome challenging times and grow your business.... more
  • Increased Shipping Costs Post COVID
    Shipping demands continue to rise with consumer spending and carrier issues. Spend time selecting a shipping strategy that helps you attract customers and your increase your profit margin.... more
  • Financial Concerns for Small Business Owners
    Customer expectations are evolving. Brick–and–mortar alternatives can help reduce overhead and start–up costs. Here are some ideas.... more
  • Impact of Biden Tax Proposals on Small Businesses
    Here’s what small business owners should know about the proposed tax increases and how they could impact them.... more
  • Financial Concerns for Small Business Owners
    Thinking about starting a business? You’ll need to know what financial challenges you may have before cash starts flowing in... more
  • Understanding How Estimated Taxes Work
    Many self-employed small business owners are required to file quarterly estimated taxes. Here is some basic information on what you need to know.... more
  • Lease vs Buy: Which is Better for Your Small Business?
    Consider all the issues before you decide to lease or buy equipment for your business. Here, you will find what to consider when making that decision.... more
  • Lower Costs with Just-in-Time
    If you want to reduce your investment in inventory and working capital, Just -in-Time Inventory may be your answer. Learn the benefits of using this system in your manufacturing.... more
  • Reduce Taxable Income Using Low-Cost Equipment Financing
    They provide business owners with a rare opportunity to convert significant tax savings into capital investment in their business.... more
  • Checks and Balances for Employees Handling Money
    A system of checks and balances when employees are handling cash is a must for every small business. Here are some tips for helping you set up your procedures.... more
  • Budgets vs Forecasts: Understanding the Differences
    Budgeting and Forecasting are important to your business. They both have a specific purpose. Learn the difference and how to use them for your business.... more
  • Financing Options Available to Grow Your Small Business
    Depending on your needs, there are several financing options available to a small business. Work with your banker to determine what might be right for you.... more
  • What Small Businesses Need to Consider if Income and Payroll Taxes Rise
    Will the president’s tax policies become law? Staying abreast of tax law changes, even if you have a trusted tax professional, will help to keep you informed as a small business owner.... more
  • How Business Owners Can Maximize Their Retirement Plan Savings
    Understanding the various options for creating a business retirement plan for you and your employees can be daunting. Here is a breakdown of the different plan options.... more
  • Classifying Cost of Goods Sold: FIFO, LIFO & Weighted-Average Cost
    What method does your company use to account for your inventory? Choosing a specific method directly affects your profit margin.... more
  • Understanding How Payroll Taxes Work
    As an employer, you will be responsible for withholding payroll taxes from employee’s paychecks and providing them to the appropriate agencies. Here are some basic on payroll taxes.... more
  • Ways to Improve the Financial Health of Your Small Business in 2021
    Facing unique challenges during the pandemic have impacted the financial health of your company. Here are some tips for improving the financial health in 2021.... more
  • Improve Your Cash Flow in 2021
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  • Top CARES Act-Related Tax Planning Tips for Year-End
    The CARES Act provided small businesses with immediate and targeted financial relief in the form of forgivable PPP loans and payroll tax deferral.... more
  • Planning for 2021 Taxes: 4 Steps to Develop a Tax Calendar for Your Small Business
    Avoid late filing or late payment penalties due to not filing and paying taxes when due Here are some tips for creating a Tax Calendar for your small business.... more
  • Tips for Getting the Most out of Your Charitable Contributions
    The CARES Act made several changes to tax law that incentivize charitable contributions for individual taxpayers and corporations alike. See what they are and how you can use them.... more
  • Growing a Small Business by Diversifying the Customer Base
    The pandemic caused many businesses to diversify. Some diversified their offerings and some found a new client base? Here are some ideas that may help your business determine what is right for you?... more
  • Quality vs Growth
    The growth of a small business is important. The quality provided is what causes customers to continue buying from you. Here are some thoughts on balancing growth and maintaining product and service quality.... more
  • Why Your Business Needs a Budget
    For many businesses, this time of year means “Budget Season”. Here are some simple ideas for creating your budget.... more
  • Adopting New Technology
    Small Business can create a competitive advantage by adopting technology. Technology can help differentiate a small business. Here are 5 Technologies to think about.... more
  • Small Business Recordkeeping & Tax Compliance
    Good recordkeeping is essential for small business owners to monitor the progress of your business. That and tax compliance needs to start when the business is formed. Learn what you should do.... more
  • Small Businesses & the Economy
    Small Businesses have continued to be resilient in the face of the pandemic. Moving quickly and changing as needed, they have demonstrated their contribution to the economy.... more
  • Healthcare for Small Businesses
    The Affordable Care Act offers health insurance options and tax incentives for small business owners. Here is a simple summary of qualifications and options.... more
  • Finding the Perfect Bookkeeper
    Having a bookkeeper is an essential function for your business. Defining what you need and determining the best solution for you does not have to be difficult. Here are some tips to help you.... more
  • Business Loan versus Line of Credit – Which is right for you?
    Securing Business financing before you need it is a smart move. Lines of Credit and Term Loans are flexible solutions. Learn which one may be right for your business.... more
  • Biggest Tax Mistakes of Small Business Owners
    Avoid the mistakes other small business owners make. Keeping good records, knowing how to classify an employee vs Contractor, Filing on time and your legal entity can help you to avoid tax mistakes.... more
  • Lack of Benefits for Small Business Owners
    Give your business an edge over the competition with health and retirement benefits to attract and retain quality employees. Doing this also offers benefits to the owner as well as tax advantages.... more
  • Founder Dependence
    Build an empowered team with well documented procedures, that will enhance the value of your small business and help you and your team navigate the unexpected while you serve in the owner role.... more
  • Outsourcing Accounting Work
    Learn why you might need an Outsourced Bookkeeper or Accountant and the advantages to you as a business owner.... more
  • Cloud-Based Accounting
    With so many advantages such as accessibility, built-in security, and price, it’s easy to see why cloud-based accounting is a great option for small businesses.... more
  • Managing Cash Flow
    Cash flow impacts profits and can be a critical component of success for small business owners. Here are some tips on how to improve your cash flow.... more
  • Debt Collection Best Practices
    Accounts receivables seem to be a big concern for small business owners. Here are some best practices to ensure you get paid.... more
  • Ideas for a Smoother Month-End Close
    An efficient month-end close process increases structure and reduces risk. Here are some practices to improve your month-end close.... more
  • Financial Ratios for Small Businesses
    Financial ratios show what aspects of your business are working by comparing figures. Here are five financial ratios that can improve your business operations.... more
  • Preparing for Taxes
    When it comes to business taxes, the first thing to understand is how the taxes work and what the IRS requirements are so you can stay in compliance.... more
  • Tax-Time Worries for Small Business Owners
    Every small business owner should understand the following six things that can affect the business’s income taxes and overall tax situation.... more
  • Ideas for Smoother End-of-Year Close
    Here are some steps you should take before the end of the year to get your small business ready for tax season.... more
  • Budget Season Ideas for 2020
    For a small business owner, there are many opportunities for growth. Here are three budgeting tips for small businesses.... more