Guidance from the Small Business Administration (SBA) for lenders of the Round Two (aka “second draw”) of Paycheck Protection Program (PPP) loans is out, and the portal is open.
What does this second round of PPP mean for your small business facing a yet uncertain 2021?
Keep reading to find out how the recent $284 billion allocation to the PPP may impact your business.
The CFO role has undergone quite a transformation in the past twenty years. The competencies of a modern CFO role has expanded far beyond accounting into every strategic corner of a company. Does your CFO’s experience meet your company’s future goals?
Today’s CFO must have a level of skill and knowledge in technology, supply chain, mergers & acquisitions, talent acquisition and retention, and industry-specific knowledge. To obtain competencies in such a wide array of areas cannot be accomplished solely through a CPA or MBA program. The modern CFO is honed by his or her career experience.
If you have begun investigating accounting technology options that fit your business needs and budget, you have come to the right place for a pep talk.
How did I know that you might be a little stressed out?
2020 has, hands down, been a year unlike any other we’ve ever seen. With public health, economic and social crises ushering in major changes to how we live and work, it’s crucial that workplaces provide a strong, positive company culture to give us the purpose and balance we need to get through each day.
At inDinero, we strive to provide balance and growth for not only our employees but also our clients, small to mid-sized businesses struggling to keep their doors open. And our efforts have not gone unnoticed. Today, company culture and compensation data platform Comparably announced it’s 2020 workplace awards and we’re thrilled to share that inDinero has been honored with the following recognitions:
When the Rolling Stones play Start Me Up, we’re pretty sure they aren’t singing about business startups. However, the tax rules for startup costs can make a grown man cry. Let’s take a close look so you can have some satisfaction in your understanding of this important startup business issue. And maybe you can save a few dollars of income taxes along the way. Let’s roll right into it so you can get this subject under your thumb!
We’d love to see 2020 one more time—in the rear-view mirror! Before we bid this abysmal year farewell, let’s talk taxes. Do you think tax rates will go up in 2021? We certainly don’t know and there are numerous ifs to consider.
If Democrats win both Georgia Senate seats in January, and
If the US House, Senate, and president all agree to raise (cap gains) taxes in 2021, and
If you have capital gains from appreciated investments (that are not tax-deferred like an IRA, 401(k), 403(b) and so on), then you might consider selling some investments before the end of 2020 to save income taxes.
If you have a crystal ball or some other way to predict the future—and you expect all of the above to happen—you might decide to do some strategic selling before the end of 2020. Are we recommending this? Absolutely not! As it stands, we’re not time-travelers or Dr. Who, sadly, so we don’t know what the future brings. That doesn’t mean we, and you, can’t assess our options to make wise and thoughtful decisions about this and other tax matters.
To help you learn a little more about capital gains and what you should be thinking about at year-end, we’ve broken it down into bite-sized pieces for easy absorption.
Cryptocurrency—boy that’s a mouthful, let’s call it crypto for short—has become pretty commonplace these days.
No longer a taboo topic, more and more people are turning to crypto as an alternative currency. But because this is a newish option, the rules and regulations around using it as a business currency are still a little fuzzy. And as we all know, fuzzy and taxes really don’t go hand in hand. To clear up these muddy waters, and to help you avoid the awful surprise of an unexpected tax bill, here’s a basic primer on the taxation of crypto.
In just a few short weeks, 2020 will come to an end. Few of us will be sad to leave this year behind. Between the COVID pandemic, environmental disasters, and large-scale social and economic unrest, people and businesses have weathered extreme challenges over the past 12 months.
Don’t breathe a sigh of relief just yet. Unfortunately, many of the difficulties that defined 2020 will continue into 2021.
The good news is that it’s possible to get ahead of it all this time around. With some smart financial planning, you can minimize uncertainty and maximize opportunities to grow your organization. But you need to act quickly, as many tax and accounting decisions have imminent deadlines.
With that in mind, here are a few questions to ask your accountant as soon as possible:
I get it. Your team deserves some recognition and a chance to bond over one of the most challenging years in our lifetime but planning a virtual office party during a pandemic is feeling like pouring salt on a wound.
After some thought and a bit of research, I wanted to share with you the top four office party ideas good for teams of all sizes, across multiple sites, and time zones that you can put into action in no time. Open up a new project in your PM software because here we go!
Was your business profitable in 2020? Do you expect a large income tax bill? If so, this blog is for you!
We’ve got two things you can do—before the blessed end of 2020—which could save you some serious cash on current year business income taxes! While these are two different actions, they both happen to include the word bonus. And who doesn’t like a bonus? Especially during pandemic times like these.
Portland
A Business Owner’s Guide To The Payroll Protection Program Round Two
January 12, 2021 Posted by Celene Robert to Taxes, Business Advice, Coronavirus
Guidance from the Small Business Administration (SBA) for lenders of the Round Two (aka “second draw”) of Paycheck Protection Program (PPP) loans is out, and the portal is open.
What does this second round of PPP mean for your small business facing a yet uncertain 2021?
Keep reading to find out how the recent $284 billion allocation to the PPP may impact your business.
Score One for Experience and the CFO Role
December 28, 2020 Posted by Celene Robert to Business Advice, CFO Advisory
The CFO role has undergone quite a transformation in the past twenty years. The competencies of a modern CFO role has expanded far beyond accounting into every strategic corner of a company. Does your CFO’s experience meet your company’s future goals?
Today’s CFO must have a level of skill and knowledge in technology, supply chain, mergers & acquisitions, talent acquisition and retention, and industry-specific knowledge. To obtain competencies in such a wide array of areas cannot be accomplished solely through a CPA or MBA program. The modern CFO is honed by his or her career experience.
Time-Saving Advice on Accounting Technology Spend
December 22, 2020 Posted by Celene Robert to Taxes, Startup Tips
If you have begun investigating accounting technology options that fit your business needs and budget, you have come to the right place for a pep talk.
How did I know that you might be a little stressed out?
inDinero Honored with Comparably 2020 Workplace Awards Including Best Company Culture
December 22, 2020 Posted by Celene Robert to Inside inDinero, Industry News
2020 has, hands down, been a year unlike any other we’ve ever seen. With public health, economic and social crises ushering in major changes to how we live and work, it’s crucial that workplaces provide a strong, positive company culture to give us the purpose and balance we need to get through each day.
At inDinero, we strive to provide balance and growth for not only our employees but also our clients, small to mid-sized businesses struggling to keep their doors open. And our efforts have not gone unnoticed. Today, company culture and compensation data platform Comparably announced it’s 2020 workplace awards and we’re thrilled to share that inDinero has been honored with the following recognitions:
Start Me Up: What You Need to Know About Business Startup Costs
December 18, 2020 Posted by Celene Robert to Taxes, Startup Tips
When the Rolling Stones play Start Me Up, we’re pretty sure they aren’t singing about business startups. However, the tax rules for startup costs can make a grown man cry. Let’s take a close look so you can have some satisfaction in your understanding of this important startup business issue. And maybe you can save a few dollars of income taxes along the way. Let’s roll right into it so you can get this subject under your thumb!
Year-End, Capital Gains Tax and Iffy Choices
December 14, 2020 Posted by Celene Robert to Taxes, Startup Tips
We’d love to see 2020 one more time—in the rear-view mirror! Before we bid this abysmal year farewell, let’s talk taxes. Do you think tax rates will go up in 2021? We certainly don’t know and there are numerous ifs to consider.
If you have a crystal ball or some other way to predict the future—and you expect all of the above to happen—you might decide to do some strategic selling before the end of 2020. Are we recommending this? Absolutely not! As it stands, we’re not time-travelers or Dr. Who, sadly, so we don’t know what the future brings. That doesn’t mean we, and you, can’t assess our options to make wise and thoughtful decisions about this and other tax matters.
To help you learn a little more about capital gains and what you should be thinking about at year-end, we’ve broken it down into bite-sized pieces for easy absorption.
Why Cryptocurrency Taxation Isn’t As Cryptic As You Thought
December 07, 2020 Posted by Celene Robert to Taxes, Business Advice
Cryptocurrency—boy that’s a mouthful, let’s call it crypto for short—has become pretty commonplace these days.
No longer a taboo topic, more and more people are turning to crypto as an alternative currency. But because this is a newish option, the rules and regulations around using it as a business currency are still a little fuzzy. And as we all know, fuzzy and taxes really don’t go hand in hand. To clear up these muddy waters, and to help you avoid the awful surprise of an unexpected tax bill, here’s a basic primer on the taxation of crypto.
4 Questions to Ask Your Accountant About Year-End Financial Planning
December 04, 2020 Posted by Celene Robert to Business Advice, Budgeting, CFO Advisory
In just a few short weeks, 2020 will come to an end. Few of us will be sad to leave this year behind. Between the COVID pandemic, environmental disasters, and large-scale social and economic unrest, people and businesses have weathered extreme challenges over the past 12 months.
Don’t breathe a sigh of relief just yet. Unfortunately, many of the difficulties that defined 2020 will continue into 2021.
The good news is that it’s possible to get ahead of it all this time around. With some smart financial planning, you can minimize uncertainty and maximize opportunities to grow your organization. But you need to act quickly, as many tax and accounting decisions have imminent deadlines.
With that in mind, here are a few questions to ask your accountant as soon as possible:
The Top 4 Virtual Holiday Office Party Ideas for 2020
November 30, 2020 Posted by Celene Robert to Business Advice, Startup Tips, Coronavirus
I get it. Your team deserves some recognition and a chance to bond over one of the most challenging years in our lifetime but planning a virtual office party during a pandemic is feeling like pouring salt on a wound.
After some thought and a bit of research, I wanted to share with you the top four office party ideas good for teams of all sizes, across multiple sites, and time zones that you can put into action in no time. Open up a new project in your PM software because here we go!
Paying Less Taxes Can be Like Totally Bonus
November 16, 2020 Posted by Celene Robert to Taxes, Business Advice, Startup Tips
Was your business profitable in 2020? Do you expect a large income tax bill? If so, this blog is for you!
We’ve got two things you can do—before the blessed end of 2020—which could save you some serious cash on current year business income taxes! While these are two different actions, they both happen to include the word bonus. And who doesn’t like a bonus? Especially during pandemic times like these.