With the onset of COVID-19, small business banks are more nervous about potential loan losses than ever. Here are several tips for your business to maintain a great working relationship with your lender. These same tips can also be used if you want to plant seeds with your banker for potential future loans. Produce timely […]
A Happy Banker Makes for a Happy Business
Posted on 15. Feb, 2021 by Linda in Banking, Small Business Tips
Seven Tips For Financial Wellness In 2021
Posted on 03. Feb, 2021 by Linda in Budget, Credit Report, Small Business Tips
Common New Year’s resolutions are to lose weight or become more active. Perhaps 2021 is the year to shift focus. Here are seven tips to help you become more financially fit. Create a budget. It’s easy to get into financial trouble if you spend more than you earn. By watching your budget more carefully, you might […]
New Rules Mean Saving More for Retirement
Posted on 27. Feb, 2020 by Linda in Managing Finances, Misc. Articles, Retirement Accounts, Tax Tips
The Setting Every Community Up for Retirement Enhancement Act, also known as the SECURE Act, was passed by Congress in late December 2019. Here are some of the features in the new legislation that will help you save more for retirement: Money can continue to grow tax deferred If you turn 70½ in 2020 or […]
Is It Time to Step In?: Aging and Help with Financial Matters
Posted on 28. Jan, 2020 by Linda in Aging, Misc. Articles
As the baby boomer generation ages so do the parents of the baby boomers. With this aging process there will come a time when a parent needs help. Much of the focus centers on managing things like transportation, mobility, health care, and home maintenance. Harder to spot is the need to help with bill payments […]
Make Your Cash Worth More
Posted on 16. Jan, 2020 by Linda in Cashflow, Managing Finances, Misc. Articles, Small Business Tips
Your cash is parked. Do you know if it’s making or losing you money? For instance, letting it sit in a non-interest-bearing account is a waste of earnings potential. It’s actually losing money if you factor in inflation! Here are some ideas to help you make the most of your banked cash: Understand your bank […]
Do You Have a Revenue Plan for 2020?
Posted on 09. Jan, 2020 by Linda in Managing Finances, Small Business Tips
A great way to start the New Year is to get clear on exactly how you can make your revenue goal number. A revenue plan is the perfect tool. You’ll need to be proficient in Excel, and if not, you can work with your accountant on this very important and enlightening spreadsheet. Start by listing all of your […]
2020 Retirement Plan Limits
Posted on 07. Jan, 2020 by Linda in Retirement Accounts, Small Business Tips, Tax Tips
As part of your 2020 planning, now is the time to review funding your retirement accounts. By establishing your contribution goals at the beginning of each year, the financial impact of saving for your future should be more manageable. Here are annual contribution limits: Take action If you have not already done so, please consider: […]
There’s Still Time to Add to Your IRA
Posted on 02. Jan, 2020 by Linda in Misc. Articles, Retirement Accounts
There is still time to make a contribution to a traditional IRA or Roth IRA for the 2019 tax year. The annual contribution limit is $6,000 or $7,000 if you are age 50 or over. Prior to making a contribution, if you (or your spouse) are an active participant in an employer’s qualified retirement plan […]
The Short and the Long of It
Posted on 21. Nov, 2019 by Linda in Accounting, Managing Finances, Small Business Tips
The balance sheet is one of the main financial reports for any business. Among other things, it shows what a company owns, what they owe, and how much they and others have invested in the business. One of the characteristics of a balance sheet is how it separates what you own and what you owe […]
Tips to Improve Your Credit Score
Posted on 08. Nov, 2019 by Linda in Managing Finances, Small Business Tips
Your credit score is more important than ever. Once viewed as a necessity when applying for a mortgage, it now factors into renting an apartment, paying for utilities, buying a cell phone, and determining the amount you pay for home and auto insurance! Here are tips to help you improve and maintain a good credit […]