The Small Business Administration (SBA) has once again written off billions in Covid-era small business loans, raising concerns about oversight and long-term impacts on borrowers. Here’s what small business owners need to know about the latest developments in the Covid Economic Injury Disaster Loan (EIDL) program. Billions in Covid EIDL Loans Charged Off In fiscal...
As a business owner or entrepreneur exploring acquisition opportunities (ETA), managing LLC distributions and intercompany transactions can be intricate. This guide breaks down how to handle fund transfers between LLCs, focusing on a scenario where funds are moved from one LLC to purchase an asset under another LLC. We’ll examine the pros and cons of...
In the world of business structures, the single member limited liability company (LLC) stands out as a popular choice for solo entrepreneurs, freelancers, and independent contractors. This comprehensive guide will explore everything you need to know about single member limited liability companies, from their definition and benefits to formation processes and best practices. Understanding Single...
As a dentist considering selling your practice, you’re embarking on a significant professional and personal journey. Whether you’re planning for retirement, seeking new opportunities, or simply ready for a change, selling dental practice requires careful planning and execution. This comprehensive guide will walk you through the key steps, important considerations, and expert advice needed for...
Embarking on a business acquisition requires meticulous due diligence, and a critical component of this process is conducting a Quality of Earnings analysis. Understanding the QoE analysis cost is essential, as it can vary widely depending on several factors influencing cost, such as the complexity of the business and the scope of the analysis. By being aware of these factors, entrepreneurs can better optimize QoE analysis costs, ensuring they make informed decisions without overspending
Introduction As a small business owner or search funder considering the sale of your current venture to finance a new acquisition, the prospect of a hefty capital gains tax bill can be daunting. The ability to defer or minimize this tax could make a significant difference in your ability to close on a new deal....
SBA Loan Eligibility for Canadian Citizens is a complex but navigable process for entrepreneurs looking to expand their businesses into the United States. While the Small Business Administration primarily serves U.S. citizens and permanent residents, Canadian citizens may still qualify under specific conditions, such as partnering with U.S. citizens or obtaining certain visa statuses. Understanding the nuances of ownership requirements, legal status, and business operations is crucial for Canadian business owners seeking to leverage SBA financing for their American ventures
As a new S-Corp owner, navigating the complexities of end-of-year distributions and retained earnings can be challenging. This comprehensive guide will demystify these concepts and help you make informed decisions for your business. Introduction to S-Corp End-of-Year Distributions and Retained Earnings Congratulations on your first year as an S-Corp! While you may have a good...
Unlock the power of financial analysis with the operating cash flow formula. This essential tool provides a clear picture of a company's cash-generating ability from its core operations. By understanding and applying the operating cash flow formula, investors and analysts can make more informed decisions and gain deeper insights into a business's financial health. Learn how to calculate and interpret this crucial metric to enhance your financial acumen
Overcoming SBA Loan Challenges: applying for an SBA loan can be a daunting task, especially when it comes to navigating the paperwork, understanding credit requirements, and choosing the right loan type. In this article, we cover "documents needed for SBA loan application," "mistakes to avoid when applying for an SBA loan," and more, helping you overcome the most common hurdles. Whether you’re struggling with "how to prepare a business plan for SBA loan" or "how to overcome credit score problems for SBA loan," we’ve got you covered with real-life tips and insights.
Uncover critical lessons from failed towing company acquisition. This in-depth guide reveals expert strategies for finding off-market towing companies for sale in Seattle and provides invaluable insights into negotiating seller financing for business purchase in Seattle. Learn the nuances of valuing a towing business for acquisition in Seattle, while navigating the complex tax implications of selling a towing company in Washington state. Whether you're a first-time buyer or a seasoned investor, this article offers practical advice to help you avoid common pitfalls and maximize your chances of success in the dynamic world of business acquisitions. Discover how to turn setbacks into stepping stones on your path to entrepreneurial triumph in the Pacific Northwest
Drowning in financial chaos? Cleaning up messy bookkeeping and fix neglected QuickBooks accounts with our step-by-step guide. Discover essential QuickBooks data cleanup techniques and best practices for maintaining accurate financial records. Whether you're a small business owner or a bookkeeper facing a daunting cleanup task, this comprehensive article will walk you through the process of untangling your financial mess and setting your books straight
Struggling with how to handle pre-opening expenses for your small business? Learn the ins and outs of bookkeeping for new business startup, from recording owner fund transfers to properly categorizing pre-opening costs. Our step-by-step guide will help you navigate QuickBooks recording startup expenses and understand startup cost capitalization rules, ensuring your business starts on solid financial footing
When considering a small business acquisition, many buyers wonder if a full Quality of Earnings (QoE) report is always necessary. As experts in quality of earnings for small business acquisition, we understand that sometimes alternatives to traditional QoE can be more appropriate. This guide explores when and how to use simplified QoE for business buyers, including step-by-step instructions for DIY quality of earnings analysis. Learn when it's safe to skip a formal QoE and how to conduct a thorough financial assessment without breaking the bank. Whether you're a seasoned investor or a first-time buyer, this article will equip you with the knowledge to make informed decisions about financial due diligence in small business acquisitions
As a business owner in the commercial cleaning industry, understanding the value of your company is crucial, whether you’re considering selling or simply want to gauge your business’s financial health. In this comprehensive guide, we’ll explore various commercial cleaning company valuation methods, use a cleaning business valuation calculator, discuss pricing a cleaning business for sale,...
CentsIQ is a premier bookkeeping and financial services provider. We serve businesses in Seattle, Bellevue, Redmond, Kirkland, Renton, Kent, Maple Valley, Covington, Portland, Memphis and beyond. Our expert team offers tailored solutions including bookkeeping, fractional CFO support, advanced analytics, and quality of earnings assessments. Let us handle your finances so you can focus on growing your business.
