Posts by Cougar Digital
Financial Statements: Tools of Your Trade
Some “tools of the trade” are specific. Carpenters need hammers. Programmers need computers. Financial statements, however, are critical tools for all businesses.
Read MoreLock in Those Business Deductions–Mid Year Planning
If you run a small business, you already have a full plate. The last thing you need is for the IRS to question any of your business expense deductions. But it could happen.
Read MoreTime for a Tax Checkup
Midyear is a good time to review your tax situation. You can make sure your estimated tax payments are on track and look ahead to see if there are any tax-saving opportunities you can take advantage of before year-end.
Read MoreSystems Software and Support
Millions of people use cloud computing and Software as a service (“SaaS”) every day, for tasks such as emailing and shopping online. However, businesses can greatly benefit from the use of SaaS as well, but they need to be aware of both the opportunities and the risks.
Read MoreThe Importance of Business Information Systems
Some “tools of the trade” are specific. Carpenters need hammers. Programmers need computers. Good business information systems, however, are a critical tool for all businesses. They allow you to monitor profitability, manage inventory and products, respond to customer demands, improve financial management and provide banks, partners, investors and key stakeholders with vital and timely information.
Read MoreLaying the Groundwork for a Business Sale
Do your plans for the future include selling your small business? For the best chance of a successful outcome, you’d be smart to start preparing for the sale well in advance.
Read MorePlacing an Accurate Value on a Closely Held Business
The business you own may make up most of your net worth. When you consider the future disposal of your interest in the business — wholly or partially — it will be essential to determine an accurate value for the business.
Read MoreImplementing a Succession Plan – Using a Buy-Sell Agreement
A co-owner of a closely held family business should carefully consider what would happen to the business in the event of his or her death or the death of a co-owner. Many issues come to mind, including whether the business would be able to survive. Family members might find it necessary to liquidate the business…
Read MoreDeveloping a Business Succession Plan
Few business owners plan their exits from their businesses with as much care as they planned their entries. Just as every owner starting out needs a business plan, every owner looking to retire needs a succession plan to help transfer ownership and to achieve his or her retirement goals.
Read MoreIRC §1031 Tax Free Exchanges
Internal Revenue Code §1031, Exchange of property held for Productive use or investment, was enacted in 1921.
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