Business
On May 15, 2020 the House voted to approve a $3 trillion, 1800-page second stimulus package named the Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES Act). This Bill would include allowing a deduction for the qualifying expenses paid with PPP loan proceeds, a second round of stimulus payments to individual Americans, and would extend…
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The Small Business Administration’s (SBA) Paycheck Protection Program (PPP) loan application required that applicants certify in good faith that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” The SBA further released Question #31, providing additional guidance regarding the “need” and allowing for a return of the proceeds…
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The word “concentration” is usually associated with a strong ability to pay attention. Business owners are urged to concentrate when attempting to resolve the many challenges facing them. But the word has an alternate meaning in a business context as well — and a negative one at that. Customer concentration A common problem among many…
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Business owners are urged to create succession plans for the good of their families and their employees. But there’s someone else who holds a key interest in the longevity of your company: your lender. If you want to maintain a clear path to acquiring the working capital your business may need after you’ve stepped down,…
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Written with contributions from Kathy Rizzo and Rich Eagleston Like public companies, private companies and non-profits are also impacted by the updated lease accounting standard found in ASC 842. What does this change mean for you? We’ve outlined: • When the updated standard goes into effect • Why the change was needed • What it…
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Rick Mastrocola, president and CEO of tonneson + co, recently spoke on a panel at a Geneva Capital Group M&A Dealmakers meeting in Prague to share his expertise and insights on mergers and acquisitions. In addition to Rick, the panel also included Rajesh Kothari of Cascade Partners, Bob Contaldo of XLCS° Partners and Robert Thomson…
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It’s easy to understand why more and more businesses are taking a “bring your own device” (BYOD) approach to the smartphones, tablets and laptops many employees rely on to do their jobs. BYOD can boost employee efficiency and satisfaction, often while reducing a company’s IT costs. But the approach isn’t without risk for both you…
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No matter what your industry, now’s a good time to start learning about blockchain. Secure structure Blockchain is sometimes also called “distributed ledger technology.” It was introduced in 2009 to support digital cryptocurrencies such as bitcoin. Entries in each digital ledger are stored in blocks, with each block containing a timestamp and providing a link…
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Any business owner developing a succession plan should rightfully assume that regular business valuations are a must. When envisioning the valuation process, you’re likely to focus on its end result: a reasonable, defensible value estimate of your business as of a certain date. But lurking beneath this number is a variety of often hard-to-see issues.…
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In their efforts to grow and succeed, many companies eventually reach the edge of a precipice. Across the divide lies a big step forward — perhaps the acquisition of a competitor or the purchase of a new property — but, financially, there’s no way across. The money is just not there. One way to bridge…
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