In response to the COVID-19 global pandemic the US federal government began providing PPP (Paycheck Protection Program) loans as an economic relief for US small businesses. One of the main objectives of the PPP loan is for it to cover payroll wages and self-employment income.
Let’s talk about the PPP loan as it relates to payroll wages specifically. To begin with, the loan amount is calculated at 2.5 multiplied by average monthly wages. So for instance, let’s say a business owner claims…
In one of our previous blogs which can be found here, #formal-financial-audits-reviews-and-bases-of-accounting-in-the-everyday-small-business-industry, we spoke about “What is a formal financial audit?” and “What is a formal financial review?” So, let’s pick up from where we left off and look at a few examples highlighting the purposes of audited and reviewed financial statements.
The examples being discussed today are in regards to Banks, Tax Purposes, and Board of Directors as follows:
Let’s talk formal financial audits, financial reviews, and bases of accounting in the everyday small business world:
What is a formal financial audit? What is a formal financial review? What is meant by “basis of accounting”?
Let’s take a closer look here.
Mortgages refinance with a Bank or Mortgage Company can be a great tool to saving yourself some money. We get these offers in the mail, by phone, by email, on social media, you name it. But, is a lower refinance interest rate with the mortgage company always worth the deal?
Let’s take a closer look.
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In business, working capital is defined as current assets minus current liabilities; this calculation demonstrates whether or not a company has enough cash or liquid assets to pay its current bills or obligations (bills that have to be paid in less than one year). At the individual level the concept is the same.
Let’s look at a few ways your credit could be hampering your financial goals.