Finance expert Mike Periu on a free foreclosure review program which expires at the end of this year. Homeowners who lost their homes to foreclosure in 2009 or 2010 have until December 31st to request a free, independent review to ensure that they were treated fairly and that the process was handled legally. Many small-business owners mortgaged their homes to fund their businesses and ultimately lost one or both. This free review is overseen by the Office of the Comptroller of the Current … [Read more...]
Are Groupon’s Days Numbered?
Finance expert Mike Periu on what may be the beginning of the end for Groupon. Groupon's stock price hit a new low yesterday of $2.69 per share, down 87 percent since its debut as a publicly-traded company. Investors have been selling the stock because of several key problems, which many believe are not fixable. Groupon continues to lose money consistently, raising doubts about the company's ability to turn a profit. More worrisome though is the company's declining sales growth and difficultly … [Read more...]
Document Your Business Income to Avoid Costly Tax Errors
Finance expert Mike Periu on ways to avoid costly tax errors. Millions of small businesses use accounting software packages like QuickBooks. Many, however, don't have the proper training which can lead to overstating or understating your revenues. The first will cause you to overpay income taxes; the latter could lead to an audit and underpayment penalties. If you have multiple bank accounts and transfer money between them, make sure that you use the bank transfer module in your software to … [Read more...]
FEMA Will Buy Your Business if Sandy Repair Costs Are Too High
Finance expert Mike Periu on the possibility of FEMA Will Buy Your Business in the wake of Hurricane Sandy. As conditions in the northeast gradually return to normal, many small-business owners are faced with the daunting task of rebuilding their businesses. In some cases, the damage to the store, warehouse or facility may be so great that repairing it isn't worth it. In other cases the insurance policy payout may be insufficient to cover the costs of rebuilding. One solution may be … [Read more...]
Create a Budget-Oriented Culture in Your Business
Finance expert Mike Periu on how to Budget-Oriented Culture in Your Business. Create a budget-friendly business for your employees. Early stage businesses govern their operations more by vision than by a budget. This makes sense, because without a track record it's difficult to develop a credible budget. But over time as the business expands, it needs structure to grow successfully. If your employees are not accustomed to working with a budget, it could lead to culture shock and the false … [Read more...]
How Survival Is Becoming Good Business
A post-apocalyptic emergency? The demand is so high. Survival Is Becoming Good Business. Would you buy a year's worth of freeze-dried food for $1,500 to survive a post-apocalyptic emergency? The demand is so high, that Walmart and Costco now offer it for sale. This is just one example of the products that are part of a growing billion-dollar survival industry. Other items such as weather radios, kerosene heaters, D batteries, candles, generators, industrial fans for drying soggy homes and gas … [Read more...]
What You Need to Know About Equipment-Lease Renewals
Finance expert Mike Periu on the ins and outs of equipment-lease renewals. For leasing equipment, a typical agreement is for a fixed term that ranges from 12 to 60 months and requires monthly or quarterly payments. Many equipment lease contracts also come with an automatic renewal provision, which extends the lease for an additional 12 months with the lessee paying the same amount as in the final month of the original lease term. For some small businesses, this is a good deal. If the equipment … [Read more...]
How Fiscal Cliff Negotiations May Impact Housing
Finance expert Mike Periu on the potential for big changes to the housing marketing. Cliff Negotiations May Impact Housing. If Congress and the President can agree to a fiscal cliff compromise, it is almost certain that changes impacting the housing market will be a part of the deal. It's likely that the Mortgage Interest Deduction will be scaled back significantly or even eliminated entirely, making homeownership more expensive and less attractive compared to renting. However, it could also … [Read more...]
The Increasing Probability of a Recession
Finance expert Mike Periu on the increasing probability of a recession. Jeremy Piger, Associate Professor of Economics at the University of Oregon, has developed a new model for determining the probability of an impending U.S. recession. The Federal Reserve Economic Dataset (FRED) has added Piger's model to its information database. The model looks at four variables: non-farm payroll employment, the index of industrial production, real personal income excluding transfer payments and real … [Read more...]
Go Global to Grow Your Business
Finance expert Mike Periu on how to grow your business internationally. Go Global to Grow Your Business. Expanding into foreign markets or generating export sales are viable opportunities for small-business growth. While selling to a customer in Brazil can be far more complex than one in New Jersey, the margins and scalability of the growth can be far greater. Its important that your company has good local counsel to ensure that you address local regulations and sound operating procedures … [Read more...]
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