Stimulus Monies for Small Business Owners
Stimulus Monies for Small Business Owners
Have client with 75 employees set to fund today.
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Financial Considerations During Our Present Medical & Economic Crisis
Financial Considerations During Our Present Medical & Economic Crisis
Coronavirus has done a number on the health of our world, our economy, the way we live, where we go, the stock market and what we do to protect each other, our lives and our businesses.
I wanted to share with you a few thoughts as we dive into the new paradigm we call life. During these times, more than ever, it will be more critical to look to the needs of others, our families, our neighbors including those we don’t know and those we do.
It is critical to change the way we think
forever as any obstacle before us is one in which we can learn how to do life
and business better & I have a few thoughts I would like to share toward
that end.
Avoid
all unnecessary expenses seeking to focus your monthly budget only on what is
required to get by.
Do not add any new debt. Depending on your
available cash and your debt’s interest rates it may be a good time to consider
debt liquidation. Great care should be exercised during this time to ensure you
maintain liquidity in both your personal and business accounts.
Stay at home. Teach your children how to sew a
button, balance a checkbook, invest, buy a home, get insurance. There is so
much we can share with our children. We have always had the incentive to do so
and now we have the opportunity with so many if not all of our children at
home.
Get creative. Consider client incentives. Pay
attention to cash flows both in and out of your business and personal accounts.
Forecast. Forecast. And Forecast again! The more
we seek to anticipate tomorrow the better we will be prepared for it.
Consider key employees and any special needs
across the board. As a business owner keep in mind the IRS only requires one to
pay a fair and reasonable salary based upon profits and position. During times
of breakeven or less consider suspending your own wages until we all reach “the
other side of the curve.”
Evaluate and seek to source new income streams
for your business. Seek to fulfill new needs as well as those previously
ignored.
Look to reduce hours and compensation
accordingly in addition to seeking at all times to streamline and operate
efficiently and remotely.
Make critical decisions before you are
face-to-face with them for in so doing you will have more options and resources
to address key manpower and resource needs.
Hear and listen to health officials and protect
all those most vulnerable but as in aircraft put the oxygen on yourself so you
will have the strength to reach and help others.
Ponder and carefully consider all decisions as
they will impact the very lives of many as what we do in these times will help
refine and define our personal and business legacy.
I will be praying for you all.
“Be quick but don’t be in a hurry. Don’t mistake
activity for achievement. Failing to plan is planning to fail. Things work out
best for people who make the best of the way things work out.” — John
Wooden
John Dillard CPA, www.HisCPA.com
“Thank you very much for your excellent service over the past decade”
“Thank you very much for your excellent service over the past decade. It has been comforting to know I have your expertise on my team.” — Another awesome friend and client
Producing 5.568 MILLION Dollars of Revenue Since Owning My Own Business and GROWING.
As a CPA = Producing 5.568 MILLION Dollars of Revenue Since Owning My Own Business and GROWING.
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www.HisCPA.com = Mentoring & Serving Others
Below is one of recent notes from a CPA on LinkedIIn. Be sure you are doing EVERYTHING you can to serve our great God by Serving Others!!!
Good morning Mr. Dillard. I am a Christian New York State CPA and I’ve been reading your articles and posts. I am so inspired by what God has done in your life and how He’s using you. I would greatly appreciate the opportunity to speak with you. How can I too become a virtual CFO? How can I accomplish more for the Kingdom of our God, especially through our chosen profession? Can we please schedule time to speak? May the Lord Our God continue to bless you and yours with favor, grace, mercy and prosperity in Jesus’s name!
Life is not measured by the number of breaths we take, but by those moments that take our breath away
SOMETHING TO PONDER: George Carlin
The paradox of our time in history is that we have taller buildings but shorter tempers, wider Freeways, but narrower viewpoints. We spend more, but have less, we buy more, but enjoy less. We have bigger houses and smaller families, more conveniences, but less time. We have more degrees but less sense, more knowledge, but less judgment, more experts, yet more problems, more medicine, but less wellness.
We drink too much, smoke too much, spend too recklessly, laugh too little, drive too fast, get too angry, stay up too late, get up too tired, read too little, watch TV too much, and pray too seldom.
We have multiplied our possessions, but reduced our values. We talk too much, love too seldom, and hate too often.
We’ve learned how to make a living, but not a life. We’ve added years to life not life to years. We’ve been all the way to the moon and back, but have trouble crossing the street to meet a new neighbor. We conquered outer space but not inner space. We’ve done larger things, but not better things.
We’ve cleaned up the air, but polluted the soul. We’ve conquered the atom, but not our prejudice. We write more, but learn less. We plan more, but accomplish less. We’ve learned to rush, but not to wait. We build more computers to hold more information, to produce more copies than ever, but we communicate less and less.
These are the times of fast foods and slow digestion, big men and small character, steep profits and shallow relationships. These are the days of two incomes but more divorce, fancier houses, but broken homes. These are days of quick trips, disposable diapers, throwaway morality, one night stands, overweight bodies, and pills that do everything from cheer, to quiet, to kill. It is a time when there is much in the showroom window and nothing in the stockroom. A time when technology can bring this letter to you, and a time when you can choose either to share this insight, or to just hit delete.
Remember to spend some time with your loved ones, because they are not going to be around forever.
Remember, say a kind word to someone who looks up to you in awe, because that little person soon will grow up and leave your side.
Remember, to give a warm hug to the one next to you, because that is the only treasure you can give with your heart and it doesn’t cost a cent.
Remember, to say, ‘I love you’ to your partner and your loved ones, but most of all mean it. A kiss and an embrace will mend hurt when it comes from deep inside of you.
Remember to hold hands and cherish the moment for someday that person will not be there again.
Give time to love, give time to speak! And give time to share the precious thoughts in your mind.
And always remember, life is not measured by the number of breaths we take, but by those moments that take our breath away.
George Carlin
A CPA Who Offers Free Initial Consultations to Business Owners/Entrepreneurs
“I had been hoping to find a good accountant that I could trust and rely on to help me with my business and the Lord filled my need when he brought us together through the Gwinnett Chamber of Commerce.” B. Anderson, A.R., Inc.
Smart tax planning plays a vital role in a retiree’s long-term financial security.
Smart tax planning plays a vital role in a retiree’s long-term financial security.
John Dillard CPA = A 3.8 GPA at #2 School in the Nation in Innovation
John Dillard CPA = A 3.8 GPA at #2 School in the Nation in Innovation