When trying to borrow money from a lender or raise capital from an investor, it's expected that you make certain financial files ... When trying to borrow money from a lender or raise capital from an investor, it's expected that you make certain documents available, including a business plan, income statement, balance sheet, cash flow statement and of course your projections. If you send these files electronically, then you run the risk of revealing more information than you would like to … [Read more...]
retirement savings as financial goal
According to a recent study by T. Rowe Price, over 70 percent of investors aged 21 to 50 list retirement savings as their numer one financial goal Retirement Concerns Not Translating into Good Decisions According to a recent study by T. Rowe Price, over 70 percent of investors aged 21 to 50 list retirement savings as their number one financial goal. But when compared to how they actually spend their money, there is a clear mismatch between what they say is their goal and how they actually … [Read more...]
Figuring Out the Right Pace of Change for Your Company
Finance expert Mike Periu on determining the right pace of change for your company to keep your business financially sound. There will come a time when your company will need to go undergo significant changes in the way it does business in order to remain financially viable. You may have to change your pricing structure, your business model, your product offering or where you do business. The challenge lies in figuring out what is the right pace of change; if you try to change too quickly you … [Read more...]
Tax Increases for Successful Business Owners a Near Certainty
Finance expert Mike Periu on tax increases ahead for small business owners. President Obama held his first press conference in 8 months yesterday. Among the topics covered by reporters was income tax increases relating to fiscal cliff negotiations. The President indicated that a key component of his position for this negotiation and a tenant of his second term will be to increase income taxes on households earning more than $250,000 per year. It appears that this tax increase will happen no … [Read more...]
Small-Business Owners Feel Effects of Healthcare Reform
Finance expert Mike Periu Small-Business Owners Feel Effects of Healthcare Reform Important healthcare changes for small-business owners. Health insurance companies are sending their 2013 renewal packages to their small-business clients. Small-Business owners feel effects of healthcare Reform. In addition to the renewal rates, a section titled "Health Care Reform" is included with a timetable of important changes taking place. Among the changes are requirements by employers to notify employees … [Read more...]
Calculating the True Cost of Your Retirement Plan
Finance expert Mike Periu on how to evaluate the true cost of your retirement plan.. Since July of this year, new fee-disclosure rules took effect that requires full disclosure of 401(k) fees and expenses by financial firms offering to administer these plans. This disclosure, however, doesn't apply to sales and marketing materials like PowerPoint presentations which are typically used to convince business owners to offer their employees a 401(k) plan. Choosing the wrong plan can lead to … [Read more...]
Why Small Manufacturers Must Prepare for Sequestration
Finance expert Mike Periu on how small manufacturers mush prepare for Sequestration and the financial Impact on them. Small Manufacturers must Prepare for Sequestration, It will lead to $1.2 trillion in spending reductions beginning in January, with half of that coming from the defense budget. According to National Defense Magazine, military spending is expected to decrease by nearly $500 billion over the next 10 years. This doesn't include the impact of Sequestration, which is an automatic … [Read more...]
Deadline Approaching for Free Foreclosure Review Program
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...]
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