IRS provides 1031 Exchange Relief
Relief from the impact of weather is not something we expect from the Internal Revenue Service; hearing from them is more often than not receiving a disturbing letter in the mail. But sometimes we get surprised. Politicians wanting to defund the IRS for collecting taxes will be even more surprised. In this case the surprise […]
Entrepreneurs beware!
I had a meeting this week with an entrepreneur/founder who had been advised to engage a fractional CFO to help him manage his company. The business is actually in its 7th year and has been singlehandedly managed by the founder, growing to a few million dollars in revenue last year with the market opportunity to […]
Cybersecurity from a Board perspective
“A $2 million punch. The average cybersecurity incident at a small- or medium-sized company leads to $2 million of business interruption losses, according to the most recent Ponemon Institute. Yet only 30% of the companies surveyed believe they are adequately prepared for the evolving nature of cyber threats.” That’s a quote from a white paper […]
You’ve Finished Your Budget! Now What?
HAPPY NEW YEAR! We hope for you and yours a healthy, happy and prosperous new year. That said, let’s talk about how to help create the prosperous part of that. Specifically, let’s focus on the financial plan/budget that you’ve finished just in time to start the new year. How do you and your team use […]
Your 2023 Budget – Start with SALES!
Earlier this month I wrote about the need to get on with planning your company’s financial goals for 2023, and I pointed readers to an online course to help those who either have never done this before or need a refresher on how to do it right. The image at left is one slide from […]
When Should You Say NO?
We have a client that does manufacturing for a very large aerospace company, almost exclusively under multi -year contracts that guarantee a steady flow of work – at fixed prices during the life of the contract. That contract is currently in negotiation to be extended, at the urgent request of the customer, who would very […]
Section 1031 Tax Relief for Californians
As my focus shifts more and more to my real estate investing business, I noticed with interest the recent disaster relief rules implemented by the IRS for all taxpayers who live and work in designated counties in the state of California that have been deemed to have incurred weather disasters. Here’s what caught my eye: […]
Ten Things to Think About
I was off last week attending a great tennis tournament in Indian Wells, CA. So, no blog last week. But while I was there, I met an interesting fellow who had built a profitable business over nearly 40 years and was thinking about selling it and retiring (whatever that means). He asked me what he […]
Hiring Staff Is Hard! Let’s Not Make It Harder.
One of today’s most pressing challenges for growing companies is finding staff to do the work that is needed. While good people are always hard to find, this time around the challenge is magnified, and often hiring managers make it harder by setting a bad example. Here are some thoughts to help you get it […]
Toward More Creative Variance Analysis
As we urge every CEO and business owner to do, we compare actual results with the projections the client made at the beginning of the year, whether it’s a formal budget with staff accountability or not, and we ensure a discussion with management follows. Even without staff accountability, there is value in management learning what […]