Category Archives: Business Strategies

Pre Bankruptcy Planning – Paul Gaulkin CPA

concept of bankruptcy

The first step in any pre bankruptcy planning phase is to have someone to a realistic assessment of why the business is not doing well. This is extremely important because the owners of the business have trouble seeing their business objectively and without emotions. Being able to see a business objectively will give you the ability to make the tough decisions that are hard to make. Pinpointing Problems It is important to pinpoint where the problems in the business are … Read more

Business Audit Risk: Top 3 Ways To Avoid An Audit

If you own your own home based business there are a few things that could get you audited. Defining Your Business Audit Risk Below we will discuss the top 3 that are most likely to have the IRS issue an audit. These can all be avoided if you follow our directions in implementing a strategy that will keep you out of trouble. Complying With Business Losses There is a fine line between a business and something that is run for fun. … Read more

How Sales Can Become A Problem

Today we’re going to take a look at business finances. When it comes to business, cash is king. Without cash, your business will shut down. But how do you generate cash, and what are some of the pitfalls of these sources? Sales Can Cause Cash Flow Problems Sales are a primary way to generate cash for your business. However, the optimum amount of sales is necessary to result in the right amount of cash. Not enough sales mean not enough … Read more