The U.S. Department of Labor (DOL) recently issued EBSA Disaster Relief Notice 2021-01, which is of interest to employers. It clarifies the duration of certain COVID-19-related deadline extensions that apply to health care benefits plans.
The Latest on COVID-Related Deadline Extensions for Health Care Benefits
Posted by Jessica L. Pagan, CPA on Mar 16, 2021
Posted in Business Advisory
Breakeven analysis can be useful when investing in new equipment, launching a new product, or analyzing a cost reduction plan's effects. During the COVID-19 pandemic, however, many struggling companies are using it to evaluate how much longer they can afford to keep their doors open.
Posted in Business Advisory
Should My Distressed Company Consider a Debt Restructuring?
Posted by Marty Williams, CPA on Feb 19, 2021
Many businesses have experienced severe cash flow problems during the COVID-19 pandemic. As a result, some may have delayed or missed loan payments. Instead of filing for bankruptcy in court, delinquent debtors may reach out to lenders about restructuring their loans.
Posted in Business Advisory
What Are the Tax Implications of Buying or Selling a Business?
Posted by Michael D. Machen, CPA, CVA on Feb 18, 2021
Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 as the country comes out of the pandemic. If you are considering buying or selling another business, it’s important to understand the tax implications.
Posted in Business Advisory
Moving Forward: New Tax Business Strategies to Reimagine the Future
Posted by Marty Williams, CPA on Nov 06, 2020
The Recover stage represents a return to the new normal—in this phase, demand for goods and services continues to rise to pre-pandemic-recession levels. The wisest companies won’t spend this time resting on their laurels but will instead use it to reimagine their futures in a world forever changed.
Posted in Business Advisory
New Business? It's a Good Time to Start a Retirement Plan
Posted by Michael D. Machen, CPA, CVA on Nov 05, 2020
If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types of qualified plans that are eligible for these tax advantages:
Posted in Business Advisory
From natural disasters and government shutdowns to cyberattacks and fraud, risks abound in today’s volatile, uncertain marketplace. While some level of risk is inevitable when operating a business, proactive owners and executives apply an enterprise risk management (ERM) framework to manage it more effectively.
Posted in Business Advisory
Cash flow is a top concern for most businesses today. Cash flow forecasts can help you predict potential shortfalls and proactively address working capital gaps. They can also help avoid late payments, identify late-paying customers, and find alternative funding sources when cash is tight. To keep your company’s cash flow positive, consider applying these four best practices.
Posted in Business Advisory
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in?
Posted in Business Advisory
Finding Relief: Tax Strategies to Generate Immediate Cash Flow
Posted by Michael D. Machen, CPA, CVA on Oct 09, 2020
The Persevere stage of economic recovery is also known as “the dip” immediately following a crisis, or in this case, the COVID-19 pandemic and resulting recession. During this time, businesses of all sizes are in triage mode, taking immediate action to protect their employees and keep the lights on. Achieving these goals requires agility, strategy, and resilience, but it also requires another key element: liquidity.
Posted in Business Advisory