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IRS Mismanages Backlog with Document Destruction Scandal

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The Show So Far… Back in early March, this blog asked, “Just What the Heck Is Going on With the IRS These Days?” We answered that question with some consolidated research on the huge backlog of unprocessed tax returns at IRS that started accumulating during the pandemic, continued to mount as the Service attempted to “work […]

The Advantages of ROBS [Part 2]

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In this article we continue with some of the most advantageous reasons why a Roll Over as Business Startup (ROBS) works for some entrepreneurs, and discuss further insights as to why we want to leverage these concepts to the entrepreneurs’ advantage.

Financial Analysis for Your Small Business

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Comparing key financial ratios for a business against industry standards and with its own past results can highlight trends and identify strengths and weaknesses in the business. Financial statement information is most useful if owners and managers can use it to improve their company’s profitability, cash flow, and equity value. Getting the most mileage from […]

The 5 Most Common Small Business Accounting Mistakes

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Having recently wrapped up another successful tax season here at Baum CPA, our expert accounting professionals like to compare notes on what we have encountered in serving a wide variety of business professional taxpayers. Our primary mission is always to help our customers, and here is a snippet of things we have seen, and tried […]

Disaster Is a Harsh Lesson for an Underinsured Small Businesses – Maybe Fatal

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Small companies lack the cash cushion or access to funds that bigger businesses might enjoy. Many small businesses were devastated by the coronavirus pandemic. Even with programs such as the Paycheck Protection Program, many did not survive. But for lots of small businesses that did survive the past few years, and for those emerging since […]