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Greetings!
Will you have enough funds to take advantage of the economic
upturn?
Despite some "green shoots" of
economic recovery, one problem still persists for many small businesses: access to credit.
For those businesses battered by the
recession, cash can be hard to come by to fund day-to-day operations, let alone
expansion. We've come up with a list of
organizations who are lending, even in the downturn.
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Finding funds in the credit crunch--
7 places where you can get a loan
If you are riding the roller-coaster of "Am I able to make
payroll?" each month, or you want to expand your company by hiring a new
employee or making a capital investment, you need cash.
Many businesses have been battered by the
recession, making them ineligible for credit from traditional banks. Even if
your business has fared well in this economy, you should have a line of credit
at least as a contingency fund.
Where do you start? Start with your bank first but there are at least 6 other organizations that are lending. Read more>>
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Using your loan to expand-- and get tax benefits too
If you have been waiting to purchase equipment or property, 2009 is a great year to do it. If you use a loan to fund expansion, the interest is deductible. We asked
Steve Kishel from Parente Randolph what other tax benefits are available in the stimulus plan. His answer:
"The recent enactment of the American Recovery and
Reinvestment Act of 2009 provides small business owners some additional tax
advantages for 2009 for property and equipment purchased during the year. The 50% bonus depreciation deduction remains
in effect for all property placed in service before January 1, 2010. However, depreciable property with a useful
life of longer than 20 years (such as rental real estate) is not eligible for
the bonus depreciation. In addition, the
maximum amount "Election to Expense" (also known as Section 179) has been
increased to $250,000 for property and equipment purchased during 2009."
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QuickBooks Quick Tip:
Judi Frank of Frank's Bookkeeping Services, and newest Profit Point alliance partner provides this tip:
If you work with an
accountant who uses QuickBooks, there are times when you both need your data
file at the same time. You want to
perform your day-to-day bookkeeping, but your accountant wants to review your
books, correct mistakes you've made, enter journal entries to prepare your
books for end-of-quarter or end-of-year reports, and so on.
With a QuickBooks
accountant's review copy, you and your accountant can easily work together,
because you can each have your own copy of the company file.
Choose File ->
Accountant's Review -> Create Accountant's Copy. You can save the
accountant's copy to your hard drive, CD, or flash drive. After you save the
accountant's copy, in the program window title bar, QuickBooks displays the
words "Accountant's Copy Exists" immediately after the company name.
Forward this copy to your
accountant and he/she can now work on the accountant's review copy in the
comfort of their own office while you continue to work on your company file.
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Last day to sign up for webinar is Tuesday:
"The Three Numbers That Drive Your Business"July 9,200912:00-1:30PM (Eastern) Register here
If
you want to use your numbers to help you manage your business but don't
have the time to pour over pages of reports to figure it which ones to
use-- this seminar is for you.
We've come up with three simple numbers
that drive every business' money-making engine. They are easy to find and don't require complicated calculations.
These numbers will
help you diagnose nearly all business trouble spots and head off
problems before they start. The best part is you don't have to be an accounting whiz to figure it all out. See our flyer for more information, and our money-back guarantee.
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Do you feel like your business has stalled?
Join us for an informative and interactive webinar:
The 3 Numbers that
Drive Your BusinessJuly 9, 2009 12:00-1:30pm (Eastern) Register by July 7 |
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Our Services
Monthly financial reviews
Cash flow forecasting
Pricing for profitability
Customer & product line profitability
Cost analysis and reduction
Financial coaching
Financial modeling
Accounting/Bookkeeping
More>>>
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About Profit Point Consulting
Profit
Point Consulting works with small- and medium-sized businesses whose needs
extend beyond basic accounting and tax planning - businesses that want to
increase profits, lower costs, get better control over their financials, and
make more money. As
CFOs and Controllers, we give you a better handle on your costs and cash flow, so you
can make better pricing and capital investment decisions - and we do it in an
approachable, easy-to-understand way.
To find
out how our experience and insight - along with our forward-looking,
fresh-thinking approach - can help you, please contact us for a no-fee
consultation.
179-9 Route 46 West No.187
Rockaway, New Jersey 07866
973.659.1430
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