The battle over the federal budget is far from over. The battle over the future of our federal budget entered a new phase when House Republicans introduced a new budget which calls for annual spending increases of 3.4 percent instead of the current 5 percent. The effect of this relatively modest difference in long-term growth is a reduction of $5 trillion in spending over the next decade, achieving a balanced budget in 2023. Importantly, there are no tax increases included in the budget. This … [Read more...]
Should You Start Using Accrual Accounting?
If you want your business to have a prosperous future switch to accrual accounting. When we are dealing with Excel spreadsheets and mountains of receipts, it's easy to forget that the purpose of accounting systems is to help owners make better business decisions. Recording transactions, preparing financial statements and analyzing data help us determine which activities are worth pursuing. There are different ways to record transactions and keep track of business activity. One way is to … [Read more...]
Why You Should Move to Puerto Rico Before Selling Your Business
A new law eliminates capital gains taxes if you move to Puerto Rico. Adelante! Billionaire hedge fund manager John Paulson, who was born, raised and became insanely rich in New York, is seriously considering a move to Puerto Rico, according to recent reports. He isn’t the only wealthy person thinking of packing his bags. Under a year-old law, Paulson’s move to Puerto Rico would save him hundreds of millions of dollars in taxes that he would otherwise have to pay on capital gains made investing … [Read more...]
Wellness Programs Aren’t a Good Investment for Your Company
Are employee wellness programs a flop? The evidence points to yes. Over the past several decades, many companies have created wellness programs that aim to improve the lives of employees outside of the workplace, improve performance at work and lower health care costs. Wellness has also expanded to include financial wellness, psychological wellness and all other kinds of wellness. Creating incentive programs to get employees to eat healthier foods, exercise and schedule medical screenings has … [Read more...]
Controversial Revenue Source That Could Alienate Your Customers
Many business are making money by selling customer data. A Controversial Revenue Source. Is this a good idea? Selling information about customers to data brokers is turning into a big business. Is this Controversial Revenue Source a good idea? Companies that capture data about who buys what at their stores can package this information and sell it, creating a new revenue stream that is almost pure profit. ProPublica recently conducted an investigation to determine the extent to which information … [Read more...]
Cheap Credit Getting Dangerous
An important financial organization has issued a grave warning about the global economic "recovery." Global Economy's Addiction to Cheap Credit Getting Dangerous The Institute of International Finance issued an important warning in a recent report published in the Capital Markets Monitor about the condition of the global economy. The IIF is the world’s only international organization for financial institutions and has over 450 member companies representing 70 countries. The IIF believes that … [Read more...]
Charging Customers to Listen to Your Sales Pitch?
How much would your customers pay to listen to your Sales Pitch? Scott Edinger, founder of Edinger Consulting Group, asks an interesting question: would your customers be willing to pay to listen to your sales pitch? At first this sounds crazy, but he’s trying to make an important point. It isn’t enough to say that you are selling a particular product or service at a good price. Everyone does that. To stand out from the competition, you need to provide enough value to potential clients during … [Read more...]
Dow Jones All-Time High Proves We are in Financial La-La-Land
Dow Jones All-Time High this Tuesday. Caveat emptor. The Dow Jones Industrial Average, which measures the stock price performance of 30 companies that are representative of our economy, hit an all-time high on Tuesday, surpassing the previous all-time high set in 2007 before the financial crisis. What makes the record so worrying is that underlying economic condition apparently are having no impact on stock prices. As ZeroHedge blogger Tyler Durden (no, not that Tyler Durden) points out, by … [Read more...]
How China’s Real Estate Bubble Could Destroy Your Finances
China's real estate market may be the biggest bubble in history ... and it's about to burst. Japan’s real estate bubble burst in 1991, and it took a decade for the economy to start crawling back. In fact, Japan’s economy is still dealing with the fallout. Meanwhile, the U.S. housing bubble burst seven years ago and was followed by the worst financial crisis in nearly a century. We are still trying to crawl our way out of that one. These two bubbles, however, pale in comparison to the next … [Read more...]
SBA Proposes Major Changes to 504 and 7(a) Loans
SBA plans to make it much easier for small businesses to qualify for its loan programs. The Small Business Administration recently published in the Federal Register proposed changes to its most popular small-business loan guarantee programs. The goals of the changes are to streamline the application process for borrowers, speed up the approval process for lenders and expand the number of companies that qualify for SBA programs. The 504 Loan Program provides long-term fixed asset financing to … [Read more...]
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