Understanding your financial data

 

This blog is specifically geared for teaching an entrepreneur how they should gain a better understanding of their financial information. The decision making process can be greatly enhanced by using your balance sheet, income statement, and underlying financial data. You can pivot more promptly, that can create a positive financial impact. Using financial data will assist you with changing your business direction, increase revenue streams, and allow you to learn how to analyze your expenses to increase your bottom line.

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Xiomara Reyes
New Pass-Through Entity Rules

One of the most important – and complicated – changes in the new tax reform act is to tax rules affecting small businesses that are treated as “pass-through entities.”

The good news is that if you own one of these businesses you may get as much as a 20 percent reduction to the taxation of business net income under the new rules. However, calculating the actual deduction can become very complex. It depends upon several factors, including your level of income, your profession, the amount your business spends on wages and property acquired during the year.

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2018 Tax Act High Points

Congress has passed a tax reform act that will take effect in 2018, ushering in some of the most significant tax changes in three decades. There are a lot of changes in the new act, which was signed into law on Dec. 22, 2017.

You can use this memo as a high-level overview of some of the most significant items in the new act. Because major tax reform like this happens so seldom, it may be worthwhile for you to schedule a tax-planning consultation early in the year to ensure you reap the most tax savings possible during 2018.

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Xiomara Reyes
BUSINESS VALUATION TRENDS

Business evaluation experts have been practicing and evolving landscape for the past several years. New standards, changing technology, and an aging population are all playing a part in the change. What are the emerging trends that you are seeing in business development right now? I frequently see clients that are referred for evaluation work where upon talking to the client, it's not really evaluation they are looking for, and rather it’s how can they prepare themselves to potentially sell the company. While they are thinking evaluation, what they really need is advisory services.

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