Tire Industry Financial Outlook: Recap of 2017 and What to Expect This Year
The 2017 financial results reported from tire manufacturers disappointed, but there is optimism around the second half of 2018 expectations.
Continental Revises 2018 Earnings Projections
Continental AG is lowering its revenue projections for 2018.
Tax Day 2018: Fines and Penalties You Could Pay for Filing Taxes Late
Every taxpayer should know these 10 facts about penalties for filing or paying your taxes late.
Five Tax Provisions Retroactively Extended for 2017
Lipton CPA Associates gives a look at five important tax provisions that are being extended.
Is It Really Too Expensive?
How many times have you encountered a new piece of equipment that you might use in your operation and asked about the price before investigating much further? Perhaps the “sticker shock” turned you off, or you soon stopped listening from that point forward. Quite often you are on the other end of that conversation. You
Knowing What Numbers to Watch
There’s an old expression that says, “If you’re not serving a retail customer, you’d better be serving someone who is.” I can’t take credit for that line, but have used it extensively over the years in this business. Everything starts with a sale, and if you’re not at the counter dealing with the end-user, then
Passing the Baton: Creating an Exit Strategy
According to a 2015 survey by CNBC and the Financial Planning Association, 78% of small business owners intend to sell their businesses to fund their retirement, yet fewer than 30% have a written succession plan. Whether you are nearing retirement or have decades left, there’s no time like the present to begin forming your exit
Financing Your Future
In a perfect world small businesses would have enough capital to fund any renovation or new construction project they wished to pursue. Buildings would never be run down, shops would use the latest equipment technology, and operating space wouldn’t be an issue. But this isn’t a perfect world. Construction costs can add up quickly and
How Much Should You Pay Yourself?
“I pay myself $100,000 per year, plus al the cash I can take!” That was the response I got when, as a young shop owner, I asked an older, established owner how much he paid himself. I was curious about how much I should make and how I should pay myself. His answer didn’t help
Last Minute Filing Tips for 2015 Tax Returns
Are you one of the millions of Americans who hasn’t filed (or even started) your taxes yet? With the April 18 tax filing deadline quickly approaching, here is some last minute tax advice for you. 1. Stop Procrastinating. Resist the temptation to put off your taxes until the very last minute. It takes time to
IRS ‘Dirty Dozen’ Tax Scams
Compiled annually by the IRS, the “Dirty Dozen” is a list of common scams taxpayers may encounter in the coming months. While many of these scams peak during the tax filing season, they may be encountered at any time during the year. Here is this year’s list: 1. Identity Theft Tax-related identity theft occurs when
Managing Cash Flow
Are you paper rich but cash poor? A business can be profitable on paper, but bankrupt in real life – if you don’t manage cash flow effectively. Without cash, a tire dealership will inevitably shut down, regardless of how profitable it looks on paper. You can be “rich” in accounts receivable and inventory but cash
