Should I Personally Guarantee a Business Loan?

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You formed an LLC or corporation partly to separate your business finances from your personal finances. Then the bank hands you a loan agreement and asks you to sign a personal guarantee. It can seem routine. The lender may even describe it that way: “We require this from every small business owner.” But a personal … Continued

My Business Is Profitable. Why Is There Never Any Cash?

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Your accountant says the business is profitable, but your bank account tells a different story. Where did the money go? Learn how receivables, inventory, equipment purchases, loan repayments, taxes, owner withdrawals and growth can leave a profitable business short on cash—and what to review before simply chasing more sales.

Why Is The IRS and New Jersey Tax Division Pestering The Business I Own?

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Every year, the IRS and State of New Jersey relentlessly pursue back taxes, and often, small business owners find themselves under the agency’s scrutiny. But why do business owners become prime targets for IRS back tax enforcement and State of New Jersey back tax enforcement? Let’s explore the key reasons behind this prioritization. A US … Continued

Setting Clear Financial Goals for Financial Freedom

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As the year comes to a close, it’s the perfect time to reflect on your financial goals and the steps you’ve taken towards achieving them. Year- End can serve as a reminder to prioritize your financial well-being. . By setting clear goals, it provides you with a sense of purpose and direction. It helps you … Continued

Deal with Back Payroll Taxes, Before the IRS does

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With the pandemic, many business owners struggled to keep aloat, including paying payroll taxes to the IRS, hoping the day would come when they could catch up but they never could. Not dealing with payroll taxes can result in jail time, fines and penalties and the loss of your business. The IRS has stated this … Continued