After a one-year delay, Tokyo finally hosted the 2020 Summer Olympics. Fans cheered on their nation’s star performers, hoping their team would set new records and bring home the gold. Each athlete was part of an elite team. They realized the importance of being surrounded by a dream team; everyone had a unique role to …
Mention the words “tax break” in any business setting, and heads turn. If there’s a way to save a company money, people want details. But when you hear it’s an R&D tax credit—and you’re a manufacturing firm—it may not sound like headline breaking news. You may have always assumed that other industries, such as big …
Manufacturing Firms—Don’t Miss Out on Your R&D Tax Credit Read More »
The Paycheck Protection Program (PPP) was established under the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) to provide financial resources to small and mid-sized businesses. These funds were distributed to help companies cover certain expenses and maintain their payroll during the pandemic. You may have seen some reports circulating on the topic …
The Impact Of PPP Loan Forgiveness On R&D Tax Credit Read More »
This news is music to the ears of small business owners across the country. According to an announcement this week, the borrowing window has opened again. Business owners may now complete an application for a first or second draw. Since the first round of disbursements was depleted before many of the smaller businesses could gain …
Paycheck Protection Program Now Accepting Loan Applications Read More »
Welcome back, PPP. This sequel has been greatly anticipated, as approximately 90% of borrowers say they’ve exhausted their first loan. This lifeline may help many small business owners stay afloat until the economy bounces back. After several months of hand-wringing deliberation and debates on Capitol Hill, the U.S. Congress finally reached an agreement. On …
Highlights from the 2nd Round of the Paycheck Protection Program (PPP) Read More »
In the early stages of your business, you are most likely fixated with marketing, growing revenue and becoming a reputable brand. These are all excellent facets of your organization that deserve your focus, but the cornerstone of any business is keeping an accurate track of your cash flow. Perhaps accounting is just not your …
Outsourcing Accounting Services are Spurring Growth in Businesses of All Sizes Read More »
What is the R&D tax credit? The United States government promotes and incentivizes business innovation by allowing tax credits for research-related expenditure. Known as Research and Development (R&D) tax credit, it is a highly underrated tax incentive that can be claimed by a business of any size and is not restricted to large corporations …
10 Frequently Asked Questions About Research and Development Tax Credit Read More »
1. Chief Financial Officer (“CFO”) – What is the role of a CFO in an organization? A Chief Financial Officer (CFO) is primarily responsible for properly managing the company’s finances and advising the CEO on strategic growth decisions. This includes an analytical and strategic review of the company’s financial strengths and weaknesses, financial planning, financial …
When a SME owner tries to double up as both the CEO and CFO, there’s a high likelihood he/she will spread themself too thin and make hasty financial decisions with half-baked information pertaining to investments, cash flow and accounting processes. However, hiring an in-house CFO may not be a viable option always because of the …
Everything You Need To Know About Outsourcing CFO Services Read More »
Our research indicates that most small businesses are unaware of an R&D tax credit. They don’t understand how it can help them earn up to 13.5 cents for every qualified dollar! Due to a lack of information surrounding this unique tax credit, it is easy to assume that the credit is only meant for research …
R&D Tax Credit Isn’t Restricted To Research Labs – Your Business May Be Eligible, Too! Read More »