Special tax law provisions may help taxpayers and businesses recover financially from the impact of a disaster, especially when the federal government declares their location to be a major disaster area. Depending on the circumstances, the IRS may grant additional time to file returns and pay taxes. Both individuals and businesses in a federally declared disaster area can get a faster refund by claiming losses related to the disaster on the tax return for the previous year, usually by filing an amended return.
The IRS also offers audio presentations on Planning for Disaster. These presentations discuss business continuity planning, insurance coverage, recording keeping and other tips to stay in business after a major disaster.
The IRS maintains a valuable collection of resources for small businesses called the Small Business and Self-Employed Tax Center. Visit their site for forms, articles, videos, webinars and audio presentations for small businesses.
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City: Simi Valley, CA
My background is primarily Office Administration/Management, focusing on Executive Level support, Office Management, Project and Training Coordination, Employee Recognition, and Accounting/Bookkeeping for small businesses.
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Education
2 Years Accounting; 1 Year Communications/Journalism; Bachelor of Science in Psychology
Millions of small business owners and startup entrepreneurs are masters at creating great products and services, building awesome teams and winning over customers. Many of them, however, would probably flunk basic bookkeeping. Here are basics of the 10 most common types of bookkeeping accounts for a small business that you should know.
By Daniel Kehrer
Founder, BizBest.com
Millions of small business owners and startup entrepreneurs are masters at creating great products and services, building awesome teams and winning over customers. Many of them, however, would probably flunk basic bookkeeping.
About the Author
Daniel Kehrer, Founder & Managing Director of BizBest Media Corp., is a nationally-known, award-winning expert on small and local business, start-ups, content marketing, entrepreneurship and social media, with an MBA from UCLA/Anderson. Read more of Daniel's tips at
www.BizBest.com, follow him at
www.twitter.com/140Main and connect on LinkedIn at
www.linkedin.com/in/danielkehrer.
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City: Florham Park, NJ
Seasoned financial, operational and administrative professional with extensive experience in business infrastructure setup; staff management & development; cost saving; control enhancement; and process improvement, automation & reengineering.
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Education
BS: New York University - Stern School of Business MBA: New York University - Stern School of Business
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City: Bryn Mawr, PA
Alan Frankel has been a Score volunteer for more than five years and received his Score chapter's Exemplary Counselor of the Year award in 2009.
Mr. Frankel is the founder and retired President of Lighthouse Capital Corporation, an equipment leasing company and consultancy to banks, finance companies and manufacturers of financeable equipment. He had a 40-year career in the equipment financing and leasing industry as an entrepreneur and senior executive. He was one of the three founding principals of Copelco Financial Services Group and served in many capacities with the organization, including President and Chief Operating Officer of Copelco Leasing Corporation. During his nineteen years there, the company grew to $3 billion in assets. Subsequently, Mr. Frankel was President and Chief Operating Officer of American Business Leasing Corporation.
Alan Frankel was also a Principal with The Alta Group, the largest international consultancy to banks and equipment leasing companies. He served on the Board of Diorectors of the Equipment Leasing Association and was a member of both its Executive and Finance Committees.
Mr. Frankel has been published extensively on the subject of equipment financing, particularly as it relates to the healthcare industry and for twelve years wrote annual updateing articles on the subkect for World Leasing Yearbook.
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Current
City: Midlothian, VA
Ray's prior experience includes 33 years with First Union National Bank/Wachovia Bank, retiring as Executive Vice-President and Senior Credit Officer. Ray was involved in working with high net worth individuals and large business entities for most of his career. His career took him to 6 different locations in North Carolina and Virginia. Ray was published in The Risk Management Association Journal. After retiring from banking, Ray earned his Certified Financial Planner designation and then started a second career in personal financial planning that would enable him to help clients achieve success in their financial life.Rays practice was a Fee-Only business. He provided comprehensive personal financial planning advice on an hourly or set fee basis. Ray was a financial planner 2002 through 2008; at which time he sold his business. Ray is a registered member of the National Association of Personal Financial Planners (NAPFA), which is the most selective national association of FEE-ONLY financial planners. He was also a member of the Financial Planning Association, a national association of personal financial advisors. Ray specialized in educating and empowering his clients to define and reach their financial goals. Ray has been quoted in Kiplingers Personal Finance, Worth, Financial Advisor, The Christian Science Monitor, and Financial Planning magazines. . Ray is a graduate of Wake Forest University with a BA in Economics. He has graduated from several banking schools. He earned the Financial Planning Certificate from Virginia Commonwealth University. He received his Certified Financial Planner designation in 2002. He currently is Chairman of the Finance Committee for the Tarrington Homeowners Association. He is a member of the Finance Committee at Salisbury Pres. Church. Ray also volunteers at The First Tee of Richmond and Chesterfield. Ray is past Chairman of the Board and Treasurer and Director of the Boys and Girls Clubs of Metro Richmond, Inc.
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BA Economics-Wake Forest University Financial Planning Certificate-Virginia Commonwealth University LSU School of Banking of the South
Published Mar. 27, 2012
The cost of owning and operating a technology product or service over time is referred to as the Total Cost of Ownership (TCO). Since the TCO may be substantially higher than the initial upfront cost, a TCO comparison can help you decide between competing solutions that at first glance may seem equivalent. Here are the key elements to consider in determining TCO.
Published Mar. 27, 2012
Decelerating cash outflow in your business enables you to hold onto cash longer so you have more money available and more flexibility in your business. Here’s a closer look at some ways to decelerate cash outflow.
Published Mar. 27, 2012
With today’s accounting software packages, it is easier than ever to monitor all aspects of your business’s finances. Many packages, such as QuickBooks, even provide dashboards–graphical representations of company operations data that display an instant snapshot of your company’s financial data.
But what exactly should you be monitoring? Tracking key ratios can help you understand and better manage cash flow. Here is a closer look at six key financial ratios.
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