The bill for dinner at the restaurant is presented, and you have graciously offered to pay. Should you use a credit card or a debit card? You may think that it does not matter, but there are some important differences. Credit cards: Essentially, a credit card allows you to use the issuer’s money to make…
Some small businesses are facing a big problem: security issues. In today’s fragile economy, losses sustained due to nonexistent or inadequate security measures could severely damage a small company and even jeopardize its very existence. Fortunately, taking action now to shore up your business security may provide sufficient protection for the future. Here are five…
Due to recent tax law changes, you may want to consider giving generous gifts to other family members. The gifts can reduce the size of your taxable estate. Here is a brief overview of the basic rules. Annual gift-tax exclusion: Under the annual gift-tax exclusion, you can give away a specified amount each year to…
The price tag on a college diploma continues to escalate at a rate higher than the inflation rate. According to the College Board, tuition and fees for in-state students at four-year public colleges for the 2010–2011 academic year increased an average of 7.9% from the prior year. For out-of-state students, tuition and fees rose an…
Typical situation: An individual owes money to a third party relating to a loan for business or personal reasons. Due to extenuating circumstances, the lender agrees to a settlement of an amount less than the amount the borrower owes in principal and interest. So the full amount of debt is effectively wiped off the books….
The bill for dinner at the restaurant is presented, and you have graciously offered to pay. Should you use a credit card or a debit card? You may think that it does not matter, but there are some important differences. Credit cards: Essentially, a credit card allows you to use the issuer’s money to make…
The insurance industry has a lagging relationship with the overall economy, feeling stresses in its business some six to twelve months after a recession or recovery kicks in. In a recession, tighter operating environments result in reduced premiums and the tougher business climate produces higher rates of default, financial strain and losses from those firms…
Despite sporadic signs of life in certain regions and sectors of the economy, the construction industry overall still faces a challenging environment. A proactive approach that focuses on cash flow, controlling costs, and staying flexible can help contractors overcome this tough business environment. Make Cash Flow a Priority If you are not already preparing cash…
Because construction is a labor intensive industry, low productivity rates can result in substantially diminished profits. While some construction productivity variables can’t be controlled, others can be managed by implementing certain strategies. Focus on Planning and Communication Wasted labor hours and lost equipment time drain productivity and profits. Contractors can minimize the effects of these…
Given the weak state of the economy and the construction industry, you may be reluctant to spend money on marketing your construction firm. However, difficult times call for thinking in a non-traditional way. Spending even a small sum on marketing in a well-thought-out and focused manner can help your contracting firm stand out from your…
