Over the last 35+ years I have had the pleasure of working with thousands of business owners. Less than 1% of these I would classify as highly successful businesses dominating their niches. Yet all of these business owners had one thing in common: Every extremely...
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Now is the Perfect Time for a Cost Cutting Audit
Increasing sales is important to any profit enhancement plan. But cost cutting cannot be left out. If you are operating on a 10 percent net profit margin, a $1 cost reduction is equal to a $10 increase in sales.In order to achieve lower costs, you should perform a...
COVID19 Loans & Payroll Credit Updates
In this video I cover recent changes in PPP loans, EIDL loans and Employee Retention Credit. The number and speed of the changes that are occurring is one reason you need professional help while preparing your PPP loan forgiveness package, apply for EIDL loans and get...
PPP Loan Forgiveness Rules and Latest Updates
In this video I cover what you will need to do to get your PPP loan forgiven. Also discuss some areas that the SBA still needs to issue guidance on and what a banker who specializes in SBA loans and I believe is the correct answer at this time. One thing for sure--you...
Cutting Expenses is Vital During Economic Uncertainty
Cutting overhead costs is the first step I am coaching my clients to do in order to increase profits and survive COVID19 shutdowns and the following recessions. In this video I discuss how to do this in a way that cuts expenses without affecting your customer...
Steps You Must Take Now to Survive the COVID19 Shutdown and the Coming Recession
There are time tested things that every business owner must do when the economy is tough. This situation is harder since in our history we have never had the government force large parts of the economy to shut down. We also have never had government give so much help...
CARES Act Provides Substantial Payroll & SE Tax Payment Relief
The CARES Act includes provisions that allow you to delay payment of the employer portion of payroll taxes for your employees. It also offers delayed payments for Self Employment tax for Sole Proprietors and Partners. .In this video I discuss the rules of the law and...
What is an EIDL Loan & Should I Apply for One?
Watch this video if you want to learn more about EIDL loans and what ever happened to the $10,000 loan advance you requested on the SBA web site. Also I cover what is covered in an EIDL loan and what you need to do to apply for one. .Before you do anything else, why...
Applying to Have Your PPP Loan Forgiven is Your Job Not the Banks!
Once you get your PPP loan a clock starts on how long you have to determine how much of the loan is forgiven and when you must send your bank your request for loan forgiveness with the required backup information. In this video I detail the worksheet that the SBA has...
Why the Employee Retention Credit Might be a Better Option than the PPP Loan
The Employee Retention Credit is an overlooked part of the recently passed CARE act designed to help businesses survive the COVID19 related loss of revenue. If you qualify, and most small businesses will, the credit can reduce your payroll tax payments and provide...