Tyee Carr: Business & Tax Planning for Entrepreneurs

The None of Our Businesses crew discuss the need to maintain short term cashflow forecasting and new methods to do so. Cashflow Forecasting – https://www.cfo.com/cash-flow/2020/06/short-term-cash-flow-forecasting-metric-of-the-month/ Roundtable discussion from None of Our Businesses Episode 33

The None of Our Businesses crew discuss how to communicate with bankers and investors during a recession. Banks for you – https://www.cfo.com/credit/2020/05/how-to-keep-the-bankers-and-investors-on-your-side-during-a-recession/ Roundtable discussion from None of Our Businesses Episode 33

The None of Our Businesses crew talk about the passing of a bill which will lengthen the terms for small business loans. Longer Terms – https://www.reuters.com/article/us-health-coronavirus-usa-bill/senate-passes-bill-lengthening-coronavirus-small-business-loan-terms-idUSKBN23A3JD Roundtable discussion from None of Our Businesses Episode 33

The None of Our Businesses crew discuss 5 considerations before reopening your business during the pandemic. Reopening – https://www.cfo.com/fpa/2020/06/five-accounting-and-reporting-considerations-before-reopening/ Roundtable discussion from None of Our Businesses Episode 33

The None of Our Businesses crew discuss possible methods to prepare your firm for unexpected hurdles. Future Proofing – https://www.accountancyage.com/2020/05/15/talent-and-tech-key-to-future-proofing-firms/ Roundtable discussion from None of Our Businesses Episode 33

The None of Our Businesses crew examine what often holds accounting firms back from automating certain parts of their business. Automating accounting – https://www.accountancyage.com/2020/05/06/new-research-reveals-fear-and-control-biggest-blockers-to-automation/ Roundtable discussion from None of Our Businesses Episode 31

The None of Our Businesses crew talk about how some companies are planning to use technology to keep watch on potential COVID-19 infections. Pandemic Tech – https://www.technologyreview.com/2020/05/22/1002122/prepare-to-be-tracked-and-tested-as-you-return-to-work/ Roundtable discussion from None of Our Businesses Episode 31

The None of Our Businesses crew discuss who at the IRS is conducting the examination of research and development tax credits. R&D Tax Credits – https://www.alliantgroup.com/services/r-d-tax-credit-2/ Roundtable discussion from None of Our Businesses Episode 31

The None of Our Businesses crew examine General Electric selling their lightbulb division after 129 years of service. Selling Lights – https://edition.cnn.com/2020/05/27/business/ge-light-bulbs-sale/index.html Roundtable discussion from None of Our Businesses Episode 31

The None of Our Businesses crew discuss an article from Forbes on the latest rules for PPP loan forgiveness and how useful they may or may not be in the near future. Guidance on PPP loan forgiveness – https://www.forbes.com/sites/kylewestaway/2020/05/28/latest-sba-updates-on-ppp-loan-forgiveness/#77e0fd014254 Roundtable discussion from None of Our Businesses Episode 31

The None of Our Businesses crew talk about a large amount of business bankruptcies coming within the next month. Bankruptcies: Roundtable discussion from None of Our Businesses Episode 28

The None of Our Businesses crew discuss the biggest decline in consumer prices since 2008. Price decline: Roundtable discussion from None of Our Businesses Episode 27

The None of Our Businesses crew talk about Elon Musk’s fight for the right to reopen  Tesla factories during the pandemic. Elon’s fight: Roundtable discussion from None of Our Businesses Episode 27

The None of Our Businesses crew discusses taking a good look at your business to evaluate what is changing during the pandemic. What has changed and will change: Roundtable discussion from None of Our Businesses Episode 27

The None of Our Businesses crew discuss families can prepare their businesses for unexpected situations. Family prepping: Roundtable discussion from None of Our Businesses Episode 27

Guest Nick Footer tells us how he sees the future of his company, Intuitive Digital, after the pandemic. Part 4 of 4 From None of Our Businesses Episode 28

Guest Nick Footer explains how the accounting is done for his business Intuitive Digital. Part 2 of 4 From None of Our Businesses Episode 28

Nick Footer, CEO of Intuitive Digital, tells us how he goes about attracting new clients to his business and the benefits of owning your own business. Part 1 of 4 From None of Our Businesses Episode 28

The None of Our Businesses crew discusses the unfortunate crashing of the business loan site on its first day of operation. Roundtable discussion from None of Our Businesses Episode 27

Becoming an S Corporation is an election designed for “small business corporations.” However, that phrase doesn’t refer to the size of the business in terms of revenues or assets. The rules are generally getting at the number and type of owners the business has. The basic requirements to elect S are as follows: – Be…

The None of Our Businesses crew discuss higher standards for leadership roles from what we’re learning about operating a business during trying times. Future of Leasership: Roundtable discussion from None of Our Businesses Episode 25

The None of Our Businesses crew talk about GameStop’s intentions to reopen their stores and temporarily cut executive salaries up to 50% to help stay afloat during the pandemic. GameStop’s Plans: Roundtable discussion from None of Our Businesses Episode 25

Michael Houlihan and Bonnie Harvey tell us about selling Barefoot Wine to E&J Gallo in 2005 as well as the mindset of preparing to sell. Part 1 of 4 From None of Our Businesses Episode 26

In this video, Tyee tackles the scenario where you are forming a new business and want it to be an S Corporation. When you focus strictly on the formation transaction itself, what we are really asking, is if forming a new corporation is a taxable transaction. That’s because at formation the tax rules that govern…

The None of Our Businesses gang talk about the rise in Amazon Stock to $1.1 Trillion, an all-time high. Amazon Stock Surge: Roundtable discussion from None of Our Businesses Episode 25

The None of Our Businesses crew discuss how automation can help while launching a business. Automation Opportunities: Roundtable discussion from None of Our Businesses Episode 25

By stock basis, we mean an owner’s tax basis in their ownership of an S corporation. For historical reasons, the owners are assumed to be shareholders who own stock in a true corporation. The S Election was originally designed for true corporations, as an opportunity to turn the default double tax treatment of C Corporations…

The None of Our Business crew talk about the varying ways in which remote working has its managing issues. Roundtable discussion from None of Our Businesses Episode 24

Don’t do this with your CPA Firm The None of Our Business crew discuss how not to develop your CPA firm. Roundtable discussion from None of Our Businesses Episode 24

Ryan Buchanan talks about how the accounting process has changed since the beginning of of his business. Part 6 of 6 From None of Our Businesses Episode 24

Guest Ryan Buchanan examines where he would like to see his business in the coming year especially dealing with the pandemic. Part 5 of 6 From None of Our Businesses Episode 24

S Corporation owners often loan money to their S Corp to finance growth or keep things afloat during hard times. Loaning funds to your S Corp is often easier and more flexible than just making a capital contribution. This is especially true if the capital infusion is only intended to be short-term. It’s easier to…

The crew discuss issues around bailouts for large businesses and what they should be doing with that money. Roundtable discussion from None of Our Businesses Episode 23

The gang talk about mixed feelings around how some banks are dealing with the pandemic induced economic collapse. Roundtable discussion from None of Our Businesses Episode 23

The gang discusses how well Amazon is doing with everyone starting to order a lot more to prevent having to go out during the pandemic. Amazon: Roundtable discussion from None of Our Businesses Episode 23

A discussion of S Corporation taxation, featuring an example of a C Corporation Dividend.

The crew talk about the kindness of people 3D printing face shields and other useful equipment for medical workers. 3D Printing: Roundtable discussion from None of Our Businesses Episode 23

Ryan Buchanan discusses what it was like to switch from an e-mail centric marketing agency to branching out across social networks. Part 3 of 4 From None of Our Businesses Episode 23

Ryan Buchanan tells us about his personal experience and what led to him founding thesis. Part 2 of 4 From None of Our Businesses Episode 23

The crew talk about the recent hacking of Zoom with meetings commandeered by digital pirates. Roundtable Discussion from None of Our Businesses Episode 22