Blog

• How Companies Can Become More Nimble During the Product Lifecycle

  Posted Date April 1, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readThe majority of U.S. industrial product company CFOs have shared concerns that COVID-19 would impact their businesses negatively. For companies that develop and manufacture products, understanding the product lifecycle and how to work around crises like the COVID-19 pandemic can be effective to help improve the longevity and success of companies. Market Development Stage According to the Harvard Business Review (HBR), the first stage of the product lifecycle is market development. This normally happens when a company introduces a new product for sale. There is usually little demand at this point; instead, demand has to be... View Article

• How Cloud Accounting Helps Small Businesses Gain Competitive Edge

  Posted Date April 1, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readIn a continuously changing business environment, small businesses have a challenge to keep up. It’s especially expensive to keep pace with ever changing technology. Luckily, with affordable cloud accounting solutions, small businesses can maintain a competitive edge. What is Cloud Accounting Cloud accounting involves moving your business books online. Unlike desktop accounting systems, cloud accounting permits you to access accounting software from a web browser without the need to install it on your personal computer. Companies that offer cloud computing provide their services on remote servers and applications. For a fee, you gain remote access to... View Article

• 3 Best Ways to Save for College

  Posted Date April 1, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readWhat if you could save enough for your child to go to college debt-free? It might sound impossible, but with dedication, hard work, and careful planning, you can do just that. According to Dave Ramsey, American personal finance advisor, here are the top three tax-favored plans to get started. The Education Savings Account (ESA) Otherwise known as the Education IRA, this plan allows you to save $2,000 (after tax) per year, per child. Let’s do that math. If you begin saving when your child is born and put away $2,000 a year until they’re 18, you’ll... View Article

• Tax-Free Student Loan Forgiveness is Part of the Latest Covid-19 Relief Bill

  Posted Date April 1, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min readThe recently passed American Rescue Plan (ARP) Act of 2021 includes a provision making nearly all student loan forgiveness tax-free, at least temporarily. Before the ARP, student loan forgiveness was tax-free only under special programs. Before we look at the changes to come under the ARP, let’s look back at what the previous law provided. The Old Rules Under the earlier measure, student loan forgiveness was tax-free under certain circumstances. These special programs included working in certain public sectors, some types of teachers as well as some programs for nurses, doctors, veterinarians, etc. Essentially, you had... View Article

• Economic Stimulus, Making the Post Office Solvent Again, Gun Control, Voting Rights and Restricting China’s Influence

  Posted Date April 1, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readAmerican Rescue Plan Act of 2021 (HR 1319) – This $1.9 trillion relief bill provides stimulus money to address the continued impact of COVID-19. Provisions include issuing $1,400 checks to taxpayers, increasing the Child Tax Credit up to $3,000 and the dependent care credit to $4,000, and providing funds for schools, small businesses, renters and landlords, increased subsidies for Americans who buy individual health insurance, and $160 billion allocated toward vaccine development and distribution. The bill was introduced by Rep. John Yarmuth (D-KY) on Jan. 15, first passed in the House on Feb. 27 and in... View Article

• Roth Conversion in 2021?

  Posted Date April 1, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readIn 2020, a year when all income brackets benefited from lower tax rates, the stock market took a nosedive at the beginning of the pandemic. For investors sharp enough to see the opportunity, this was an ideal time to convert a traditional IRA into a Roth IRA. When you conduct a Roth conversion, the assets are taxed at ordinary income tax rates in the year of the conversion. So, the best time to do this is when your current income tax rate is low and when your IRA account balance loses money due to declining market... View Article

• Latest Stimulus Bill Provides More Relief for Americans and the Economy

  Posted Date March 10, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min readNearly one year after the COIVD-19 pandemic-driven shut-downs began the shutter the economy, Democrats pushed through another $1.9 trillion stimulus package by narrow margins, with the President set to sign the bill. The legislation is one of President Biden’s first major achievements and contains numerous provisions that impact millions of Americans. Below we’ll look at what’s inside the legislation. Stimulus Checks $1,400 stimulus checks are the hallmark of the legislation, but not everyone is eligible. Similar to previous stimulus packages, single taxpayers making $75,000 or less are eligible for the full amount, but the payout completely... View Article

• Securing Jobs for Cabinet and Congress Members, Inspector Generals, and Apprentices – and Honoring Capitol Police Officer Eugene Goodman

  Posted Date March 1, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min readTo provide for an exception to a limitation against appointment of persons as Secretary of Defense within seven years of relief from active duty as a regular commissioned officer of the Armed Forces (HR 35) – Prior to passage of this bill, a former service member could not be appointed as Secretary of Defense until separation from active duty for at least seven years. This legislation allows someone to be appointed after only four years from active duty as a commissioned officer of a regular component of the Armed Forces. The bill was introduced by Rep.... View Article

• Some Businesses Rely on Line of Credit to Escape Damages Caused by Pandemic

  Posted Date March 1, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min readAs businesses attempt to work their way through to a post-pandemic world, there are various means to bridge the financial gap. As recommended by the U.S. Small Business Administration (SBA), some companies can use a line of credit to reach international customers or opportunities outside the United States to make up for the damage COVID-19 caused with fewer domestic sales. How can businesses use a line of credit to increase their chance of survival and pivot to profitability as we move through 2021? According to Debt.org, a business line of credit functions like any other line... View Article

• 5 Cities Rank as Ideal Locations for Remote Workers

  Posted Date March 1, 2021 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readAccording to the National Bureau of Economic Research, in late spring of 2020 about half of American workers were working from home. Not surprisingly, many researchers believe that this pattern will continue after the pandemic is over. With this in mind, SmartAsset has examined the best cities to work from home in 2021 and evaluated them across seven metrics: percentage of those who worked at home; estimated percentage of those who can work at home; five-year change of percentage of those who worked at home; October 2020 unemployment rate; poverty rate; housing costs as a percentage... View Article