Tips to Help Improve Cash Flow for Small Businesses

One of the biggest challenges facing small businesses is maintaining adequate cash flow. Even in periods of growth, it is imperative to monitor your company’s cash inflows and outflows.  If you are not monitoring your cash activity, you could be almost out of business and not even know it.  Here are some quick and easy tips to help improve your cash flows.

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Transportation Industry: Keep Your Fleet Safe and Save Money

truck driver on the road

Whether your company has one vehicle or dozens on the road, smart management can save you money. Familiarity with tax laws, simple maintenance steps and high-tech solutions can reduce the costs of operating your fleet and keep it safer.

Start With Taxes

One of the best ways to save money is to spend some time with a financial professional. Deductions can make a major difference in the cost of operating a fleet, particularly in the first year of ownership. Smith Schafer has the experience and understanding of the transportation industry to make a lasting positive difference in your future success. Our Transportation Group, comprised of numerous professionals, is committed to serving over 80 Minnesota transportation entities.

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What Entity Should You Choose for Your Business?

small business owner working at desk

One of the most important decisions you will make when starting a business – determining the legal structure. This may affect the way you run your business. It could influence how you engage in business transactions, protect yourself against liability and minimize tax.
 

Here are some advantages and disadvantages of each business type:

 

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What is My Business Worth | Part 2

What is My Business Worth: Business Valuation Methods

Watch part two of this two part series where our Twin Cities Business Valuation Expert, John Edson, will discuss the Business Valuation Methods of "What is My Business Worth?".

Click the link below to download the presentation. 

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What is My Business Worth? | Part One

What is My Business Worth: Business Valuation Background

Watch this two part series where our Twin Cities Business Valuation Expert, John Edson, will discuss "What is My Business Worth?".

Click the link below to download the presentation. 

 

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Building Value in Your Business

Building Value in Your Business Presentation Main Slide

Smith Schafer Valuation Expert, John Edson, presented at our free educational seminar at Rochester Golf & Country Club April 25, 2018. John discussed building value in your business. Click below to view full presentation.

CONTACT US

If you would like to learn more about building value in your business, Smith Schafer can help. For additional information click here to contact us. We look forward to speaking with you soon.

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The Income Approach to Valuations

The words “Business Value” or “Business Valuation” by themselves hold more than a singular definition. The complexity of business valuations, make it challenging to fully grasp what is involved in the process of valuing a company. There are three main approaches when establishing a value for a company:

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4 Ways to Prepare for a Business Valuation

Ready to sell your business? Or planning to keep the business in the family by gifting ownership to a relative? Whatever the reason may be - estate planning, mergers and acquisitions, litigation support, equity or debt financing, or marital dissolution - it is vital to engage experienced professionals and prepare for a business valuation.

We work with business owners to help determine their company’s values relative to their situation or business plan. We take a comprehensive view of all you have invested in your business and what you have created. Below are four items we review during the process and what you can do to prepare your business.

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Tax Day is Here! Thank You for a Successful Tax Season!

It's Tax Day! Today we are celebrating all those who filed with us this season. We would like to take this opportunity to say THANK YOU for choosing Smith Schafer for your accounting and tax needs. We are truly grateful for your business.

Also, THANK YOU to our great employees, whose dedication and hard work have brought us through another successful busy season!

We appreciate our staff’s hard work and dedication YEAR-ROUND. Outside of Tax Season, we conduct audits, prepare financial statements, assist with bookkeeping tasks, prepare payroll returns, conduct business valuations and assist with strategic planning and budgeting.

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Trends in Minnesota Construction 2018

Success in the construction industry requires the ability to cost effectively create the building envelope, structure or support systems such as electrical, plumbing or HVAC. It also requires sharp project management skills to ensure that labor, materials, supplies and equipment are properly scheduled and managed. The ability to manage unexpected scheduling and other surprises reflects management’s skill. However, beyond the day-to-day, management needs to be aware of trends and issues impacting the industry and develop a plan to address them. 

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