Top Impacts of the American Rescue Plan for Small Businesses

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The American Rescue Plan, passed in March 2021, includes several provisions and extensions that target small business owners Key takeaways: The American Rescue Plan included the following: More PPP funds allocated Other small business loan programs continued New grants targeting specific businesses, including restaurants and venues Tax credits extended to support employers The Biden Administration’s…

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Why Small Businesses Need Accurate Forecasting

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What is forecasting, how can small business owners do it right, and why should they? Key takeaways: Small business forecasting is making future predictions based on actionable business data 4 tips for forecasting: Understand qualitative vs. quantitative forecasting Start with expense forecasts Create multiple forecasts Master cash-flow forecasting Stay flexible Small business owners just starting…

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Succession and Estate Planning: Differences and Commonalities

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While the two share some components, they have very different implications Key takeaways: Succession planning helps business owners or leaders plan for the transition when they leave the business Estate planning is focused on how your personal wealth will be distributed and managed after you’re gone Most people need an estate plan, but not everyone…

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What Changed About Excess Premium Tax Credits?

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The IRS announced that taxpayers with excess advanced premium tax credits didn’t have to report the excess for 2020 Key takeaways: Premium tax credits are available to some eligible taxpayers who get health insurance coverage through the Marketplace Usually, taxpayers must report any excess advance tax credits on their tax returns, and it may increase…

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