Tag: change
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A Refresher on Major Tax Law Changes for Small-Business Owners
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe taxes or get a refund when they file their returns…
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Estimates vs. Actuals: Was Your 2018 Budget Reasonable?
As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to accurately assess that budget by comparing its estimates to actual results. Your objective is to determine whether your budget was…
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Change Management Doesn’t Have to Be Scary
Business owners are constantly bombarded with terminology and buzzwords. Although you probably feel a need to keep up with the latest trends, you also may find that many of these ideas induce more anxiety than relief. One example is change management. This term is used to describe the philosophies and processes an organization uses to…
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Prepare for Valuation Issues in Your Buy-Sell Agreement
Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating or updating yours, be sure you’re prepared for the valuation issues that will come into play. Issues? What issues? Emotions tend to run high when owners face a “triggering event” that activates the buy-sell.…