IRS Advice for Taxpayers
In the wake of rampant fraud and errors that have plagued the ERTC program, the IRS recently released some recommendations for businesses grappling with how they should handle this sticky situation. 1. Are you still waiting for your ERTC claim to be paid out? The IRS stated they will still be processing outstanding claims that...Read More
Ready, Set – Prepare!
Intense challenges in sports and business can be conquered with the right preparations I recently competed in Ironman Wisconsin. It was one of the hardest days I’ve ever experienced while competing in a triathlon. I’m tempted to blame the road conditions, the wind, and the higher-than-expected elevation gain for my performance, which fell below my...Read More
IRS ramps up audits of businesses that claimed employee retention tax credits
For more than two years, I’ve been helping small businesses figure out if they qualify to receive employee retention tax credits, a Covid-era lifeline extended by the federal government that was designed to keep struggling companies alive. Although helping these businesses is rewarding work, it can be fruitless at times – many don’t meet the...Read More
5 Ways Leaders Can Combat Burnout
Leadership and burnout often go hand-in-hand. The challenges of being in a leadership position are immense, and it can be difficult to find the “off” switch. When leaders go home, they are still problem-solving, taking calls, and writing emails. An endless stream of stress can lead to feeling overwhelmed, tired, depressed, discouraged, exasperated, frustrated, and...Read More
Leading With Endurance in Times of Financial Uncertainty
Endurance is a topic that has captured my attention for years. As a seven-time Ironman competitor now preparing for my eighth, I’ve spent countless hours training, which gave me ample time to ponder the concept of endurance and how it applies to various aspects of life. With every mile pedaled on the bike, every lap...Read More
Blackburn Case Study
Greg McDonough is a managing partner at Blackburn Capital. He works with businesses and organizations ranging in size from early-stage startups to $100 million enterprises. He has successfully led companies through turnarounds, mergers, acquisitions, and other significant events. Whether a business is struggling to survive, or striving to grow effectively and efficiently, Greg has tools...Read More
Recession Survival Guide: Cutting Expenses
The indicators that a recession has descended upon the United States have started to stack up. These economic signals forecast tougher times ahead. Whether that materializes officially into a recession or not, entrepreneurs from coast to coast are asking themselves the same question: what steps can I take to protect my business from the impact...Read More
Recession Survival Guide: Never Let a Recession Go to Waste
The very idea of a recession looming on the horizon can cause dread and anxiety to creep into the hearts and minds of even the most resilient and fearless entrepreneurs. But handled properly, a recession can become an opportunity. Financial experts advise that you should never let a recession go to waste. With some careful...Read More
Recession Survival Guide: Revisiting Your Financing
When it comes to the complex financial picture of a business, debt is a crucial piece of the puzzle. Carrying some debt is normal, but during a recession, highly leveraged companies are particularly vulnerable. As the economy contracts, demand falls, and so does revenue. Shrinking sales means less available cash on hand for funding operations....Read More
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