Small Business Finance Blog

Financial tips and hacks for small business owners

You are here: Home / Archives for Small business

As Cash Deposits Hit Record, Lending Stays Flat

By

Although Cash Deposits Hit Record, in banks are at an all-time high, finance expert Mike Periu explains why lending remains flat. According to the most recent data released by the Federal Reserve, the banking sector in the U.S. is out of balance. For every $1 that banks hold in deposits from consumers and businesses, they try to lend out 95 cents. Right now, the industry is lending about 78 cents for every dollar in deposits. This is happening for several reasons. First, companies (and to a … [Read more...]

Who Do You Trust More: Accountants or Bankers?

By

Finance expert Mike Periu on a recent survey that reveals whether accountants or bankers are more trusted financial advisors for small-business owners. Small-business owners need expert advice to grow their businesses. When it comes time to make an important strategic or financial decision, who do you turn to for the best advice? Sage Omnibus recently conducted a survey asking 1,000 small-business owners who they confide in for advice. Fifty percent believe that accountants provide the best … [Read more...]

2013 Financial Resolutions for Your Business

By

Finance expert Mike Periu on the three business Financial Resolutions chief financial officers should make for the coming new year. John Calia, partner at strategic advisory firm SCA Group, recommends three New Year’s financial resolutions for chief financial officers or those running your business’ finances. 1. Hold cash. It's more important than ever to maintain a significant cash position to shield against 2013 uncertainty. European insolvency, Middle East unrest, the fiscal cliff and its … [Read more...]

Save Money on Small Business Travel

By

Finance expert Mike Periu shares money-saving tips for Small Business Travel that may help close deals. As we prepare for 2013, it's important for business owners to acknowledge that face-to-face meetings can't be replaced with technology when its comes to closing a large deal. Traveling to meet clients and potential clients is far more expensive than a Skype or GoToMeeting conference, but it's certainly possible to minimize the travel cost and still achieve your main goal—closing the … [Read more...]

What You Can Expect With Coupon Marketing in 2013

By

Finance expert Mike Periu on key changes to expect with coupon marketing strategies in 2013. Shashi Bellamkonda, the “Social Media Swami” at Web.com has been following the coupon industry for years and expects several important trends to emerge during 2013 in coupon marketing: More localized deals. The key challenge for the coupon industry in 2013 will be expanding the network of both end users and merchants. Reaching deeper into specific verticals and targeting more local companies will be … [Read more...]

New Fiscal Cliff Compromises Signal Steps Towards Deal

By

Finance expert Mike Periu on the latest negotiations to avoid the new fiscal cliff. Monday proved to be an important day in the fiscal cliff negotiations. Both President Obama and Speaker Boehner made important concessions to their positions in the hopes of striking a deal. On which taxpayers should see an increase in tax rates, President Obama was firmly set on making $250,000 in annual income the cutoff which Speaker Boehner was firmly against an increase in marginal tax rates. Then the … [Read more...]

Lower Your State Business Taxes. Liability to Zero

By

Finance expert Mike Periu on how to significantly reduce or eliminate your state business taxes. If your business is located in a state with a high income tax, there are options available to significantly reduce or even eliminate that tax liability. In order to entice businesses to set up or expand operations within their borders, state governments offer income tax credits. Over $10 billion per year in state income tax credits are offered. Many businesses qualify for these credits but don’t … [Read more...]

The Right Way to Deduct Business Use of Your Vehicle

By

Finance expert Mike Periu on best practices  to Deduct Business Use of Your Vehicle Many small-business owners use their personal vehicles for business use. The expenses related to this use are a legitimate business expense and can be deducted on your income taxes. The IRS does, however, require proper documentation and failure to provide it could mean a denial of the deduction in an audit. They require “contemporaneous documentation” relating to expenses and mileage which basically means … [Read more...]

Los 5 países más caros para vivir en Latinoamérica

By

Si estás pensando irte a vivir a otro país de Latinoamérica, hay muchos factores que debes de considerar antes de tomar una decisión final. Piensa en la seguridad, oportunidades de empleo, situación política, pero sobre todo en el costo de vida. Para determinar qué países son más caros, podemos utilizar diferentes indicadores como el Índice de Precios al Consumidor (IPC) o un método más simple como es el "índice Big Mac", popularizado por la prestigiosa revista The Economist. Este índice se … [Read more...]

Take These Steps to Ensure a Profitable Exit Strategy

By

Finance expert Mike Periu highlights helpful steps to take to ensure a Profitable Exit Strategy before selling your business. According to the Chamber of Commerce, only 20 percent of small businesses transfer to a new owner successfully. This has important implications for owners who have on average 80 percent of their net worth tied up in their businesses. Marc Tepper, Founder of Strategic Wealth Partners, urges business owners to take these steps before embarking on a sale or transfer of … [Read more...]