by Holly Magister, CPA | Business Capital, Grow a Business |
When seeking money for your business, it is necessary only to approach accredited investors because regulations restrict the types of investors allowed to participate in such private placements. By limiting investments to accredited investors, regulators aim to protect less sophisticated investors from the higher risks associated with certain types of investments, such as private placements or hedge funds.
To qualify as an accredited investor, an individual must typically meet one or more of the following criteria:
by Holly Magister, CPA | Business Valuation, Exit Planning, Sell a Business |
When selling a business, you’ll likely engage various advisors to help you navigate the process, maximize the sale price, reduce risks associated with the deal post-transaction, and ultimately close the deal. Different types of advisors work in various business sales...
by Holly Magister, CPA | Business Capital |
Finding a business for sale involves research, networking, a serious commitment of time and resources for due diligence, and above all careful consideration. Whether you are thinking about buying an existing business as an alternative to creating your own startup from scratch, there are many important factors to consider.
Follow our a step-by-step guide to help you find a business to buy.
by Holly Magister, CPA | Exit Planning, Sell a Business |
Learn why business buyers view your business as unattractive and it fails to sell once it’s on the market. We’ve summed up the top seven reasons and included suggestions regarding how to overcome these obstacles.
by Holly Magister, CPA | Business Capital, Grow a Business |
The Employee Retention Tax Credit (ERTC aka the ERC) applicable to the Covid-19 pandemic has been evolving from its initial congressional act in March of 2020, was enhanced by the Consolidated Appropriations Act passed in January 2021, updated by the American Rescue Plan in March of 2021, and most recently updated by the Infrastructure Investment and Jobs Act.
If your head is spinning as you try to unravel the ERC rules, you are not alone. The ERC or Employee Retention Credit offers a viable and alternative way to recover payroll costs for any type of employer, except state and local government entities, regardless of their size.
by Holly Magister, CPA | Business Valuation, Exit Planning, Sell a Business |
Many business owners are uncertain about how to establish a value for their business, regardless of its stage of development. How to value ideas, start-ups and mature businesses differ greatly. Learn more.
by Holly Magister, CPA | Business Valuation, Exit Planning, Sell a Business |
If you intend to grow and sell a valuable business, the Great Resignation that kicked off in mid 2021 means everything. Everything that is if you care about the value of your business.
by Holly Magister, CPA | Exit Planning, Sell a Business |
Learn about the three phases in a business exit plan and why each is important for the business, its employees, the owner and his or her family. This post includes our most popular FAQs on this topic as well. Wondering about the Exit Planning designations for professional advisors? We’ve covered that in this post as well.
by Holly Magister, CPA | Business Valuation, Sell a Business, Selling a Business Questions |
When it comes to the sale of a business, there are a number of costs – both expected and unplanned – all business owners should understand before they agree to sell their business. A few of our Featured Advisors have weighed in, offering their expertise and perspective to explain the costs – from business broker fees and legal costs to hidden fees – as they relate to selling a business.
by Holly Magister, CPA | Business Capital, Grow a Business |
The SBA EIDL Round 2 extended application deadline to 12/31/2021 and introduced the New Targeted EIDL Advance Grants for businesses continuing to suffer from the Covid-19 pandemic. Learn more about the changes to the EIDL program, which businesses can qualify for the EIDL grant and how to apply.
by Holly Magister, CPA | Business Capital, Grow a Business |
On Monday, May 3rd, 2021, the Small Business Administration (SBA) opened its application portal for the Restaurant Revitalization Funding (RRF) to certain restaurants, bars and other similar businesses that serve food and/or drink which have suffered a reduction in revenue in 2020 when compared to 2019 as a result of the pandemic.
Similar to the Paycheck Protection Program Loan (PPPL) program, this federally-funded program is intended to provide cash to businesses which have suffered revenue losses and if spent on the proper types of expenses within a specific period of time (the Covered Period), the loan may be fully-forgiven by the SBA.
by Holly Magister, CPA | Business Capital, Grow a Business |
Up until now, the PPP Loan proceeds for Schedule C filers was based on the 2019 net profit (referred to as the net earnings from self employment) plus payroll costs if employees worked in the business. The Interim Final Rule (IFR) effective on March 3, 2021 allows a business owner to use either their gross income or net income as the basis to compute its PPP Loan request amount.
by Holly Magister, CPA | Business Valuation, Exit Planning, Sell a Business |
What should a business owner do to prepare to sell his or her business some time in the near future?
Aside from right-sizing the business’s overhead costs to line up with its current level of revenue, and looking for opportunities the pandemic may be presenting, there are four things a business owner can do now to prepare to sell. And more importantly, doing these four things will mean that when a Letter of Intent is received from a buyer, the business will be very well-prepared to survive the due diligence stage of the sale.
by Holly Magister, CPA | Business Capital, Exit Planning, Sell a Business |
The Small Business Administration (SBA) issued a Procedural Notice on October 2, 2020 which offers business owners and lenders guidance on how Paycheck Protection Program (PPP) Loans are to be handled when a business has a change in ownership.
This post summarizes the notice and includes an Infographic to assist business owners. It includes the following topic:
When does a Business Sale Require the SBA’s Approval
Does a Business Sale Require the PPP Lender’s Approval or Notification
Required Steps Pre and Post-Closing for PPP Borrowers
SBA Timeframe to Approve a Sale or Merger when a PPP Loan Transfers
Does the EIDL Grant Impose Additional Steps When Selling a Business
by Holly Magister, CPA | Grow a Business |
In a previous post, we discussed how a Professional Employer Organization (PEO) company works, its many benefits, and the tax implications you may face if you hire one.
As a recap, a PEO is a service that small or medium-sized businesses may use to outsource some of their human resource, payroll, benefits, taxes, recruiting, and other management tasks. As you might imagine, there are both pros and cons in hiring a PEO.
Here, we’ll discuss the disadvantages of using a PEO, along with the associated costs of a PEO.
by Holly Magister, CPA | Grow a Business |
In our PEO series, we’ve talked about what a PEO company is and who is the employer in a PEO relationship. Here, we’ll discuss PEO for nonprofits, and whether or not using a PEO for your nonprofit might make sense.
by Holly Magister, CPA | Business Capital, Grow a Business |
On June 15, 2020, the Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) applications to businesses with no more than 500 employees and non-profit organizations operating and suffering substantial economic injury as a result of the pandemic in all of the U.S. states, Washington D.C., and territories.
Independent Contractors, sole-proprietors (with or without employees), gig workers and freelancers are also eligible to apply for the EIDL.
by Holly Magister, CPA | Business Capital |
On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA), which is the latest attempt to save struggling businesses from permanent shutdown.
The Flexibility Act offers business owners seven significant changes to the original Paycheck Protection Program (PPP) Loan terms. The House and Senate were driven to make these changes due to the lengthy pandemic and the fact that many PPP Loan recipients have not been able to re-open their doors for business during the required eight-week ‘covered period’ set forth in the original PPP Loan Act.
The PPP Loan Flexibility Act will make it much easier for business owners to achieve full, or nearly full, loan forgiveness.
The new law provides business owners with seven significant changes to the original law and those include:
by Holly Magister, CPA | Grow a Business |
Our PEO series is aimed at addressing the common questions about PEOs, and uncovering some of the lesser-known facts about working with a PEO so that you may make the best choices for your business.
So far, we’ve learned about what a PEO company does. Here, we’ll dive into some muddy waters and decipher who is really the employer in a PEO relationship.
by Holly Magister, CPA | Grow a Business |
If you are wondering what a PEO is and whether or not this type of outsourcing may be a good option for your small or medium-sized business, this first article in our series of four posts will help you decide if it’s the right move for you.
In this post, we cover everything you need to know about a PEO company including:
• What’s the meaning of PEO?
• PEO payroll
• PEO benefits
• PEO tax implications, and more.