Business owners often have a majority of their personal net worth tied up in the business. However, many owners are unsure how much their greatest asset is really worth, putting them at a disadvantage in making decisions that range from estate planning to deciding when to sell the business. A common misconception about business valuations [...]
No matter how many times innocent people become victims to Ponzi schemes, it continues to happen both with alarming regularity and extraordinary costs. What are Ponzi Schemes? Ponzi schemes first evolved when Charles Ponzi began enticing innocent people to invest in something with the promises of an abnormally high return. Ponzi would explain the rationale [...]
Technology disruption is here — So what now? CRI recommends 5 steps to help your business take advantage of new technology to improve business processes and create efficiencies in this video with Matthew Katzmark.
Hurricanes and other disasters – floods, earthquakes, tornadoes, and even cyber attacks or power outages – can cause devastation to businesses and disrupt their operations. Business owners who have had to close shop due to an unexpected disaster should review their commercial insurance policies to determine if they have a business interruption rider. While reviewing [...]
If you’re traveling somewhere by airplane, perhaps one of the worst things that can happen to you at the airport is missing your scheduled flight. Your two big questions are probably: When can I get on the next flight and resume my journey? and, How much money is missing that flight and getting on a [...]
Backup electronic accounting records. Accounting records can include anything from accounting software to spreadsheets that are used for budgeting. Consider subscribing to a cloud-based storage service, or — at a minimum — store your backup data in multiple locations. Backup electronic records regularly to ensure data remains current and easily recoverable. Protect computers and [...]
Managing the “family” part of a family business can be complicated — especially as your family continues to grow. Multiple generations mean added challenges, from ambitious siblings competing for a position to the older generation crusading against health and succession issues. Mix in marriage, divorce, children, and more children, and suddenly the family business is [...]
Business plans can be overwhelming at the onset. However, if you answer some simple questions before beginning, then you will avoid major headaches and save on your Tylenol expenses. So take time to consider the below money-saving parameters for business plan creation. What is the purpose of the plan? Identify the purpose as briefly and [...]
Regulations and red tape can sometimes rip the fun from running a business – regardless of the size of the entity. Just like a large corporation, small businesses risk fines, penalties, and negative tax implications if they do not stick to the necessary rules. So read on for our tips and tricks regarding four major [...]
Walk into the offices of any Fortune 500 company, and you may see a mission statement — words that define the company’s vision, values, and purpose – prominently displayed. It may be in the lobby. It may be in the boardroom. But you more than likely will find one. Nike’s mission is to “bring inspiration [...]
Let's discuss the importance of customer base diversification. The saying “don’t put all of your eggs in one basket” might be out of pace with modern society, but the wisdom behind the statement still stands. For businesses, it’s similar to putting all sales expectations and company potential into a single large client. When a company [...]
Should I buy or lease? When a business needs to obtain assets (e.g. major piece of equipment, building, vehicles), the question of buy or lease is often asked. Watch Louise Anderson and Jeff Bridges discuss operating leases, financing leases (capital leases), and options that are typically best for start-up businesses. Plus, be sure to [...]
A California Labor Commissioner recently ruled that a driver for Uber Technologies, Inc. should be put in the lane of an employee of the company versus an independent contractor. Meanwhile, in a separate worker classification matter, a U.S. District Judge allowed a lawsuit by two Uber drivers to proceed in court—rejecting Uber’s arbitration attempts. Uber [...]
In an attempt to simplify accounting for smaller private companies, the Financial Accounting Standards Board (FASB) created the Private Company Council (PCC) to determine accounting alternatives. Private companies may be able to save time and money by taking advantage of accounting alternatives related to goodwill, interest rate swaps, common control leasing arrangements, and [...]
Now that the echoes of “Auld Lang Syne” have faded away, it’s time to get back to the business of building your business. As you’re making your list of New Year’s resolutions, consider these recommendations for the 15 priorities that will help keep your business healthy. 15 Business Finance Tips Plan now for your exit.Your [...]
As with all good marriages and lasting friendships, the relationship you have with your CPA is a two-way street and its success is based upon regular communication. To maximize the benefits of your CPA relationship, make your CPA an integral part of your management team. Don’t let tax time be the only time you see [...]
There is a tidal wave approaching. Well, a tidal wave of baby boomer retirees – and it may leave some employers dry of a good portion of their current workforce unless they take the necessary steps to ensure that they hire, train, and retain the talented young people currently in the employment pool. It’s estimated [...]
