Archive of Situation Analysis Articles

• Small Business Trends for 2025
  In 2025, small businesses must embrace AI, personalization, e-commerce, and community ties to adapt, grow, and thrive in a dynamic market.... more
• 5 Key Challenges Small Businesses Will Face in 2025
  As 2025 nears, small businesses must tackle challenges like labor shortages, rising costs, AI integration, cybersecurity risks, and shifting consumer expectations.... more
• Networking Your Way to Business Success
  Surround yourself with positive influences for growth. Build a network of people who inspire, support, and elevate your journey... more
• 5 Year-End Tax Planning Moves for Small Businesses and the Importance of Starting Early
  Start year-end tax planning early to maximize deductions, manage income, optimize retirement contributions, and implement effective tax-saving strategies.... more
• Boosting Revenue Without Increasing Sales: A Strategic Guide
  Boost revenue and profitability by focusing on retaining and satisfying existing customers through exceptional service, rather than solely pursuing new sales.... more
• How to Rent Space for Your Business
  Renting a space is crucial for your business’s success. Carefully plan, research, and negotiate to find a location that matches your growth goals.... more
• Making Your Small Business a Beacon of Value in an Inflationary Sea
  Inflation pressures wallets, but small businesses can thrive by offering value, transparency, and community support, building resilience and customer loyalty.... more
• The AI Advantage: How Small Businesses Can Thrive in the Age of Intelligence
  Artificial intelligence (AI) is no longer the realm of science fiction. It’s rapidly transforming the business landscape, and small businesses have the potential to benefit tremendously from this revolution.... more
• Battling the Inflationary Beast: Strategies for Small Businesses in 2024
  Combatting inflation: Cost management, strategic pricing, leveraging workforce, diversification, financial planning, and risk management are key.... more
• Does Your Business Need a CFO?
  When growth surpasses current financial management, hiring a CFO is crucial for strategic insights and risk management.... more
• Navigating Turbulent Waters: Ten Biggest Issues Facing Small Businesses in 2024
  Adaptation, innovation, and resilience are key for small businesses to thrive amidst challenges and opportunities in 2024.... more
• Getting Ready for Tax Season – Your Small Business Tax Preparation Checklist
  Prepare for tax season by meeting with your bookkeeper, gathering documents, verifying expenses, and setting aside funds for payments.... more
• Small Businesses are Discovering the Power of Health Savings Accounts
  HSAs provide tax benefits: deductible contributions, tax-deferred growth, and tax-free medical withdrawals. Consult a financial advisor for optimal use.... more
• 5 Innovative Ways to Fund Your Small Business
  Diverse funding options exist for small businesses: crowdfunding, peer-to-peer lending, online lenders, asset-based financing, and banking relationships.... more
• Businesses Should Plan Ahead for Year-End Tax Strategies
  Strategize year-end tax plans now! Defer income, accelerate expenses, or invest in equipment. Expert advice ensures optimal savings.... more
• Branding Your Small Business for a Competitive Edge
  Branding is crucial for small businesses. Define your identity, create a strong website, embrace content marketing, and focus on the customer experience to gain a competitive edge.... more
• How to Increase Revenue in Your Business (without New Sales)
  Make customer service your top priority! You’ll see improvements to your bottom line. Here is why you should do it and how you should do it.... more
• Small Businesses Not Innovating Risk Obsolescence
  Innovation doesn’t occur in a vacuum. Identifying and adopting innovative ideas and strategies to create more value in your business must be integral to your planning process.... more
• Business Owners Do Better with a Coach
  Top athletes hire a team of coaches to help them get to the next level of performance. Learn how business owners can benefit from working with a coach.... more
• How to Support Your Employees When Selling the Business
  Keep your employees’ best interests in mind when selling your business. Here are some tips to make them your central focus and ensuring a smooth transition while increasing the value of your business.... more
• Strategies for Optimizing Remote Worker Productivity
  Businesses can optimize remote worker productivity utilizing these suggested strategies, such as strong leadership and frequent communications with their employees.... more
• LLC or S-Corp, How to Choose the Right Business Structure
  Know the key differences in business structures and which is right for your business. There are significant legal and tax implications. Here is some basic information to help you get started.... more
• SECURE Act 2.0 Impact on Business Owners
  There are provisions in the Secure Act 2.0 that target retirement savers new opportunities to save while enhancing benefits of retirement accounts. Your business will benefit.... more
• Are You Working in Your Business or On Your Business? The Key to Growth is Delegation
  Create the conditions that allow you to focus almost exclusively on your core competencies and those activities that lead directly to revenues and profits. Grow your business by delegating.... more
• New Legislation Expected to Boost Pooled Employee Plans and Small Business Tax Incentives
  A bill before Congress called the Simplifying Small Business Retirement Savings (SSBRS) Act could make it easier and cost-effective to offer retirement plans to employees. Here’s a look at this proposed bill.... more
• Tips for Growing Your Business in 2023
  When growing your business, there are certain fundamental principles that can significantly increase your chances of success. Learn these principles.... more
• Year-End Tax Planning for Business Owners
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• 2021 Tax Law Changes for Small Business Owners
  Here is an overview of 2021 tax law changes for small business owners. Consult with your CPA for all the changes that may affect your small business.... more
• There’s Still Time to Claim the Employee Retention Credit. What is it, and How to Qualify
  The Employee Retention Tax Credit (ERTC) can still be a critical lifeline for eligible businesses struggling to emerge from the havoc of COVID. Learn how it may help your business.... more
• Plan Your Equipment Purchases Now for a Significant Year-End Tax Deduction
  If you have been considering a capital expenditure for your business, now would be the time to sit down with your business bank to discuss your best financing options.... more
• Pre-Funding Your Business Exit with Excess Cash
  Create a plan to accumulate retirement capital. If you’re behind the savings curve because you’ve focused on investing in your business, you have several options that will enable you to catch up.... more
• Navigating Your Small Business Through Economic and Market Turmoil
  Business as usual is less effective for businesses being rocked by external events, such as inflation, a declining stock market, or local market turmoil. But there are ways to manage your growth.... more
• With Inflation Surging, a Midyear Review is More Critical Than Ever
  It is always good to do a midyear review and this year is more critical than ever. Here are the steps to conducting a midyear review.... more
• Five Ways a Financial Advisor can Help Your Small Business
  Good financial advisors have the skill and expertise to discover gaps in the financial management of your business. Here are 5 ways they can help you.... more
• Is Telework Becoming Essential for Small Businesses?
  Businesses have found they can increase productivity, employee retention, and profits with a properly structured telework regimen. Here are the facts about telework for small business.... more
• Should a Small Business Offer a Retirement Plan for Their Employees?
  Generate a net gain for your business by offering a retirement savings plan for your employees. It can provide you with lower employee turnover cost, higher profits and tax savings.... more
• More States Adopt the Pass-Through Entity (SALT Cap Workaround)
  As of December 1, 2021, nearly 20 states had enacted the PTE election with more to follow. There are some real and potential caveats PTE taxpayers need to consider.... more
• Tips for Growing Your Business in 2022
  Taking your business to the next level can be challenging. Having a vision and a plan can increase your chances for success.... more
• Unconventional Ways to Fund a Small Business
  There are many funding options available for your start-up or growing small business. When other options fail, you may wish to explore the more unconventional ways.... more
• Year-End Tax Planning for Businesses Ahead of Biden’s Tax Plan
  Barring any legislative action to extend them, important tax rules affecting businesses will change or expire at year end. Businesses need to consider the following in their year end tax planning.... more
• Planning for Natural Disasters
  Natural disasters can physically and financially impact your company. Creating a plan of scenarios and actions to be taken before and after will make your recovery easier.... more
• Artificial Intelligence for Small Businesses
  Artificial Intelligence is being used by more and mor companies. The cost is becoming affordable to small businesses. Could it be right for you?... more
• ERC Now Available to Recovery Startup Businesses
  The Employee Retention Credit benefits both business affected by the pandemic as well as start up business during that time. Here is some basic information.... more
• 2021 Tax Law Changes for Small Business Owners
  Here is an overview of 2021 tax law changes for small business owners. Consult with your CPA for all the changes that may affect your small business.... more
• Cyber Security Threats for Small Businesses
  Cybercrime is costly to small businesses. Here are four threats that small business owners should be alert for.... more
• You Can Still Override the 5-Year Rule on inherited 401k Accounts, But You Need to Act Now
  The CARES Act extended the time period from 5 – 6 years to empty out an inherited retirement account. But time is running out. Learn what you need to do.... more
• Owning a Small Business: Identifying & Managing Fear
  You have no control over the economy or financial crisis but, how you manage your business can help you through hard times. Don’t let fear get in the way... more
• Competing with Other Small Businesses Online
  Small businesses are not created equally. The ones that provide the best online experience will keep their clients coming back. Here are some tips for providing that positive experience.... more
• Retirement for Small Business Owners
  Which retirement savings plan is right for you and your business? Here is some basic information on the types of plans to consider.Which retirement savings plan is right for you and your business? Here is some basic information on the types of plans to consider.... more
• Will Your Business be the Next Ransomware Victim?
  The size of your business does not matter. You could be a target for a ransomware or other cyberattacks. What should you do?... more
• Growing a Small Business through Lead Generation
  There are many ways to generate leads. Here are some tips for creating your strategy.... more
• Small Business Creativity and Increased Market Share
  Fostering creativity by your employees can help your business overcome challenging times and grow your business.... more
• What Employers Can Expect from the Secure Act 2.0
  The SECURE Act 2.0 introduces some significant enhancements to employers’ ability to provide quality retirement plans to their employees. Although it has a way to go, it has strong bipartisan support.... more
• Increased Shipping Costs Post COVID
  Shipping demands continue to rise with consumer spending and carrier issues. Spend time selecting a shipping strategy that helps you attract customers and your increase your profit margin.... more
• Financial Concerns for Small Business Owners
  Customer expectations are evolving. Brick–and–mortar alternatives can help reduce overhead and start–up costs. Here are some ideas.... more
• Impact of Biden Tax Proposals on Small Businesses
  Here’s what small business owners should know about the proposed tax increases and how they could impact them.... more
• Financial Concerns for Small Business Owners
  Thinking about starting a business? You’ll need to know what financial challenges you may have before cash starts flowing in... more
• Understanding How Estimated Taxes Work
  Many self-employed small business owners are required to file quarterly estimated taxes. Here is some basic information on what you need to know.... more
• Lease vs Buy: Which is Better for Your Small Business?
  Consider all the issues before you decide to lease or buy equipment for your business. Here, you will find what to consider when making that decision.... more
• Reduce Taxable Income Using Low-Cost Equipment Financing
  They provide business owners with a rare opportunity to convert significant tax savings into capital investment in their business.... more
• Lower Costs with Just-in-Time
  If you want to reduce your investment in inventory and working capital, Just -in-Time Inventory may be your answer. Learn the benefits of using this system in your manufacturing.... more
• Checks and Balances for Employees Handling Money
  A system of checks and balances when employees are handling cash is a must for every small business. Here are some tips for helping you set up your procedures.... more
• Budgets vs Forecasts: Understanding the Differences
  Budgeting and Forecasting are important to your business. They both have a specific purpose. Learn the difference and how to use them for your business.... more
• Financing Options Available to Grow Your Small Business
  Depending on your needs, there are several financing options available to a small business. Work with your banker to determine what might be right for you.... more
• What Small Businesses Need to Consider if Income and Payroll Taxes Rise
  Will the president’s tax policies become law? Staying abreast of tax law changes, even if you have a trusted tax professional, will help to keep you informed as a small business owner.... more
• How Business Owners Can Maximize Their Retirement Plan Savings
  Understanding the various options for creating a business retirement plan for you and your employees can be daunting. Here is a breakdown of the different plan options.... more
• Classifying Cost of Goods Sold: FIFO, LIFO & Weighted-Average Cost
  What method does your company use to account for your inventory? Choosing a specific method directly affects your profit margin.... more
• Understanding How Payroll Taxes Work
  As an employer, you will be responsible for withholding payroll taxes from employee’s paychecks and providing them to the appropriate agencies. Here are some basic on payroll taxes.... more
• Ways to Improve the Financial Health of Your Small Business in 2021
  Facing unique challenges during the pandemic have impacted the financial health of your company. Here are some tips for improving the financial health in 2021.... more
• Top CARES Act-Related Tax Planning Tips for Year-End
  The CARES Act provided small businesses with immediate and targeted financial relief in the form of forgivable PPP loans and payroll tax deferral.... more