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Are You Correctly Determining Who Should Receive a 1099?

Are you giving the appropriate vendors and service providers 1099s for their services? With the end of 2014 looming, your business is coming into the season of IRS deadlines. One of the annual deadlines is the filing of 1099s. We commonly answer questions about who should receive a 1099, and often find businesses don’t send out all the forms they should have each year. Let’s look at 1099MISC forms. These …Read More

Do Your Financials Matter?

Are your financials guiding you in day-to-day decisions to manage, lead and grow your business? Part 1 As a business owner, I am sure you are familiar with financial statements such as a profit and loss, a balance sheet, and maybe even a statement of cash flows. They give you a summary of operational activities, assets (stuff you own), liabilities (stuff you owe), and coming and going of cash. With …Read More

Foodbrokers, are you collecting all your billbacks?

Have you collected all the monies your brokerage has committed and spent on behalf of the manufacturers you represent? If the answer is yes, congratulations! You are one of the few brokerages collecting all the committed reimbursables you are due. If you have uncollected or lost amounts, you have an opportunity to increase your bottom line and make your business more effective. We feel the billback system is one of …Read More

Business Insights

Business insights are the glimpses you get into your business based on the data produced, pulled and reported. Traditionally, the small and medium business relies upon financial statements, produced no more frequently than monthly and often 15 days behind the last day of each month. These financial statements are extremely important and they certainly have their place. However, let’s face it, data this far in arrears is not of the …Read More

Year-end is coming soon, are you prepared?

Once again we are nearing year end. Does this time of year make you tense? Are you dreading your looming responsibilities? Traditionally this is the time tax planning would start with your preparer. You have ran your business all year most likely focusing on one or a few initiatives, honing your products or services. However, now there is mounting pressure on you as the business owner to get the financials …Read More