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As a nonprofit, you’re always looking for ways to get more donations of money and goods, depending on the type of nonprofit. In the wake of COVID-19, you may find yourself on shaky financial footing, between people needing the help of nonprofits and others unable to donate. Without money or goods, your nonprofit can’t help

If you are a small business owner, then there is no doubt you understand the vital importance of keeping accurate financial records. From fraud prevention to cash flow analysis, there are so many reasons why accounting’s role in day to day business operations is so crucial to the ultimate success of the company. One decision

Families have multiple financial obligations. If you are not careful, managing your personal, family, and business finances can be tricky when you have a family. The professionals at Cavanaugh & Co handle your family’s financial considerations with respect due to years of experience providing custom CFO, accounting, and consulting services. These services are for family

According to the Small Business Administration, about half of all newly established businesses last five years or more. Only a third survive to the ten-year mark. For a variety of reasons, companies that possess the stamina and skill to endure the early years of growth sometimes flounder as the business matures. Why? In all too

If you commute back and forth to work every day, you typically can’t deduct any of your travel costs, such as gas for your car or commuter fares. The IRS says these commuting expenses are nondeductible personal expenses. However, there are some special situations when your commuting costs may be deductible: 1. Business stops It

If you have been managing your business for a number of years now you might be considering an exit strategy. But doing so takes planning. How will you get your money out of the business? How much will you take out? Will you liquidate company assets or transfer ownership to someone else? How long do

Scrutinize your operating budget and you may discover that shipping expenses — ever present and necessary for obtaining inventory and delivering products to customers — are squeezing your bottom line and cutting into profit margins. Taking some time to trim those costs may offer significant opportunities for savings. Comparison shop and negotiate The biggest names

As any entrepreneur will tell you, financing a business is no small undertaking. Pulling funds from personal bank accounts, liquidating assets, talking to friends and relatives about your venture — these are all actions you might take to get your business up and running. Banks and other financial institutions could also play a role. In

Survey small business entrepreneurs and you’re sure to discover relationships that soured when long-time friends became business partners. Fortunately, the story doesn’t always end on a tragic note. Here’s why: Friends can talk openly Because a foundation of trust has been established, friends have already learned to communicate candidly. When tough business decisions need to

Maybe your spouse helps out at your small corporation without pay. Although wages are taxable and fringe benefits cost your company, you could be missing out on tax-saving opportunities for hiring your spouse. Consider the following: You’re saving money in the company 401(k), but what about your spouse? If certain requirements are met, your spouse