In my recent article, I discussed enhancing leadership through self-awareness. As a follow up, another main part of leadership is an awareness of how the people on your team are performing. Without constant evaluation of individual team contributions as well as feedback from your team, it is difficult to effectively lead them.
There are instances when you can write off interest on personal loans used for business purposes, such as injecting capital into an S corporation, multi-member LLC, partnership or C corporation. But keep in mind that interest expenses must be classified into one of four categories (see box at the bottom of this article for details).
Did you know that more than half of the small business owners in the United States are at least 50 years old or older? In the U.S. alone there are 28 million small businesses (fewer than 500 employees) and over 22 million self-employed business. According to CNBC surveys, it is believed that 80% of small-business owners plan to sell their business to fund their retirements, however only 30% percent have a written succession plan. At MKS&H, we work with our clients to be prepared, so here are our top 5 successful succession tips that will benefit small-business owners:
In my previous article, How to Start a Global Sales Strategy for Your Exports , I discussed some significant incentives and resources Maryland offers manufacturers that are considering an export initiative. This second article of the three part series will look at tax structures for exporters and the incredible tax savings these structures provide.
So you’re in the market for a new accountant? Well it’s time to think about the issues important to you and see how the candidates stack up. Choosing the right accountant is important. Besides operational needs, often times they become a trusted advisor you look to during critical times. Consider these five qualities as a basis for your decision.
The term innovation can sometimes bring forth a sense of dread as it usually leads to change, and change can be scary. Who knows what the future holds when you change things up from your normal routine? But change is an important piece of growth for your company, and innovation is the match to light that fire.
Effective leadership is also self-aware leadership. If you've held leadership positions during your career, you know there are times when your approach resonates with those following you and times when they don't. Or do you? The ability to self-assess will help you see when your leadership resonates with others and when it doesn't. Here are a few things to consider in your quest to become a more effective leader:
Cutting costs is a short-term strategy to help manage expenses and build a quick profit. But as a business leader, you want to focus on a long-term strategy for growth and profitability with your organization. There are many ways to do this, but here are 5 ideas to consider from the Small Business Administration as well as MKS&H’s experience with our diverse client base:
Getting back into work can be challenging when returning from a well-earned vacation. Now that you’ve rested and feel reinvigorated, this is an opportunity to reevaluate aspects of your company’s financial environment and move forward productively. Here are 5 areas to focus on to get back in the swing of things: