"Finances" Posts
The Affordable Care Act Is Less Affordable For Married Taxpayers
By Eric Lee
Much has been made about the controversial provisions of The Patient Protection and Affordable Care Act and Health Care and Education Affordability Reconciliation Act of 2010 (“ACA”). As documented through many other sources, the Act contains important changes that will have a substantial impact on small business owners and individuals. The most controversial of these changes include penalties for small businesses failing to provide adequate health insurance for employees and an individual mandate that people obtain health insurance, or be subject to a penalty. Much to the chagrin of many, the individual mandate was upheld by the Supreme Court, and …
Establishing Small Business Profitability
By GPSA systematic financial review can lead to greater profits
There are several elements within a small business environment that should be analyzed and reviewed to establish potential profitability as compared to current performance.
Financial statement review
In a review, three to five years of financial statements should be analyzed and categorized. Compare the performance of each category within the chart of accounts over the financial review time period. Categories should include types of revenue, variable or direct costs, indirect overhead, general and administrative overhead, debt service and leases.
Break down each dollar amount into a percentage of revenue to determine …
Bank Presentation Blunders
By GPSYou need money to expand your business…and you need it now!
There are many outlines for bank presentations and business plans. Choose one that is suitable for the business and presents the business in the best possible light.
You need money to expand the business and you need it now! Streamline the business and create greater profitability with the right infusion of capital. Have you tried, in the past, to make a convincing financial presentation, but nothing ever seemed to turn out right? Think your plan makes sense, but you can’t seem to get the presentation over the top? The …
Let It Ride
By GPSOne of the most frequently asked questions by business owners regarding lending and business finance is, “Why does the bank need my personal guarantee?” The answer is fairly simple—they do not!
As a borrower, the business owner has a choice. However, with some financial institutions, the philosophy is best expressed as “my way or the highway” unless the banker feels comfortable with the business operations and the other types of security proposed. Although, if the business and its owner are on sound financial footing there may be room for negotiation regarding personal guarantees. Successful negotiation does not require the Wisdom …
