A question we frequently hear from entrepreneurs and business owners is, “How should I structure my business for tax efficiency and business operations?” But one size does not fit all. The answer is dependent mostly on your goals for the company. There are essentially four options to structure your business: A traditional C-Corporation An S-Corporation […]
Business Operations, 2020 Edition: Connecting in a COVID World
The year 2020 has brought much confusion and turmoil as a result of the COVID-19 global pandemic. As the world went into lockdown, many businesses were forced to close in an effort to decrease the spread of the virus. Unfortunately, many local businesses had to shut down due to financial issues, while others were faced […]
PPP Loans: Forgiveness, Guidance and Disclosure
In the wake of the coronavirus (COVID-19) pandemic emerged the Coronavirus Aid, Relief and Economic Security (CARES) Act, which included the Paycheck Protection Program (PPP) administered by the Small Business Administration (SBA). The SBA incentivized banks to extend PPP loans to those small businesses that qualified by paying a percentage to the banks for the […]
Can Client Accounting Services lead to increased efficiencies?
From increased visibility to enhanced financial controls, Magone & Company’s Client Accounting Services (CAS) were created to streamline your company’s accounting and finance functions and help you operate more efficiently. But don’t take our word for it! Respondents to Bill.com’s 2018 Client Accounting Services Report say that CAS delivers measurable benefits. What’s more, these benefits […]
Choosing the right entity for your small business
If you’re thinking of starting a business, kudos to you! Starting a business can be an overwhelming experience in the beginning, but well worth it in the end. Of all the decisions you’re going to make, one of the most important decisions that should not be taken lightly, will be the type of legal structure […]
Thinking of expanding? Not so fast
The driving force in many expansion plans is to generate higher sales, with the hope that profits, too, will rise. But before making moves to buy new equipment, expand your plant or implement a new business idea, you need to grasp the profit angle. In some cases, an expansion plan boosts sales but not profits. […]