Financial management report/ WFCA benchmarking survey

March 25, 2012 | Comments Off on Financial management report/ WFCA benchmarking survey

The 2012 WFCA Benchmarking Survey begins May 1, 2012.  The confidential survey conducted by Profit Planning Group is the best source of financial benchmarks for the industry. Additionally, participants receive a personalized performance analysis report free of charge. The report also provides suggestions for improving your firm’s profitability. (more…)

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Financial: Strategic planning

November 11, 2011 | Comments Off on Financial: Strategic planning

By Bart Basi Second of two parts In the last installment of the “Financial” column, we covered the beginning steps required for a strategic business plan, an essential element of your blueprint for success. Today, most investors and banks will not even consider putting money into your company without first seeing a strategic plan. Here, I finish explaining how to organize your outline. (more…)

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Financial: Strategic planning

October 17, 2011 | Comments Off on Financial: Strategic planning

by Bart Basi Part I of II There is no precise road map for preparing a strategic business plan. The length of the plan and areas of focus will depend on the industry, the stage of the company’s development, the complexity of its business, and the intended audience, but a well-written strategic plan is essential to the capital raising process for your company. It is a way for an investor to review your company’s potential....

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Financial: The 10th decile problem

September 19, 2011 | Comments Off on Financial: The 10th decile problem

by Bart Basi Publicly traded companies have a ready market for their stock. Some have existed for over a 100 years and have paid dividends in many of them. This is dictated through specific rules and, as such, represent less risk than investing in private companies. (more…)

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Financial: Family limited partnership

June 16, 2011 | Comments Off on Financial: Family limited partnership

by Bart Basi Many people have heard of the family limited partnership, otherwise known as the FLP. Surprisingly, the term family limited partnership or FLP does not appear in the Internal Revenue Code or any of the accompanying regulations. (more…)

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Financial: Al the optimist

February 16, 2011 | Comments Off on Financial: Al the optimist

by Bart Basi Having written articles for Floor Covering News for the past few decades, I had spoken numerous times with Al Wahnon. He and I had a working relationship that spanned the years. It was just a short while ago, my staff and I were writing articles celebrating Al’s 20th anniversary with Floor Covering News and his 50 years of contributions to the flooring industry. Upon hearing of the news of his passing away,...

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Financial: Like-kind exchange

December 13, 2010 | Comments Off on Financial: Like-kind exchange

by Bart Basi Taxes on capital gains are about to increase substantially effective Jan. 1. Tax cuts established during the first few years of the Bush Administration are slated to automatically sunset. Not only will capital gains taxes increase, but an additional tax of 3.8% will also be incurred by high income earners making over $200,000 (single taxpayer) and $250,000 (married) shortly thereafter. (more…)

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Financial: BP’s oil Gulf disaster

October 11, 2010 | Comments Off on Financial: BP’s oil Gulf disaster

by Bart Basi Many people living and conducting business on the Gulf Coast have lost their jobs and incomes because of the oil rig explosion. In response, the federal government and BP have embarked on measures to reimburse victims and like any other time when money has been exchanged, the IRS has shown up with its guidance. (more…)

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Financial: Selling in 2010=tax sense

September 14, 2010 | Comments Off on Financial: Selling in 2010=tax sense

by Bart Basi There were 66 million babies born between 1945 and 1964 during the era known as the Baby-Boom and the Boomers are reaching retirement age. In fact, the oldest are now turning 66 and the youngest are embarking on their mid-40s. As such, many of these people have worked hard throughout their lives and have built businesses from the ground up. A very considerable amount of wealth has been created and those owners...

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Financial: Legislation and tax impacts

March 4, 2010 | Comments Off on Financial: Legislation and tax impacts

by Bart Basi If you live in the U.S. you are well aware of the economic situation. According to the Beige Book published by the Federal Reserve, nearly every sector of industry in every geographical region of the country is in an economy that is essentially stuck in neutral. While some indicators suggest the recession is over from a gross domestic product (GDP) stand- point, nearly every other indicator, including employment, spending, job, security and...

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