Credo Financial Services

Whether it is the regular cadence of payroll, bills from vendors, or creating new innovation to reinvest in your business, keeping your business flush with cash is mission-critical. When you analyze your fiscal data and make projections based on this information, it’s easier to make accurate predictions about the future of your business. Look at your financial analytics, and you’ll know the likelihood of future failure — but also future success. You’ll likely need professional help and guidance to both handle your bookkeeping and advise you on future projections.

Even though businesses usually outsource IT responsibilities, IT companies need to have full-time employees for any IT-related tasks. Outsourcing these tasks would mean that the company is most likely diluting its competitive advantage, a big mistake. Ultimately, the decision to outsource or hire full-time depends on the nature of your business, what you want to achieve, and how quickly you want to achieve it. Outsourcing is also ideal for smaller businesses entering the marketplace when the outsourced function is not a core competence of the business strategy, or business model, that gives the company its competitive advantage.

This change affects unreimbursed employee expenses such as uniforms, union dues and the deduction for business-related meals, entertainment and travel. The standard mileage rates for the use of a car, van, pickup or panel truck for 2018 remain: * 54.5 cents for every mile of business travel driven, a 1 cent increase from 2017. The recent legislation also increases the depreciation limitations for passenger autos placed in service after Dec. 31, 2017, for purposes of computing the allowance under a fixed and variable rate plan. The maximum standard automobile cost may not exceed $50,000 for passenger automobiles, trucks and vans placed in service after Dec. 31, 2017.

With the proper estate planning (i.e., by creating a Living Trust) scheduled installment note payments otherwise due to you can continue to pay to your legal heirs pursuant to the note term that you have chosen. The DST Trained and Approved Trustee, in his/her absolute discretion, may allow you to refinance your installment sales note in order to extend or shorten the note term or to provide you with payments (or greater payments) of principal (and should you decide to take an “interest only” note initially). If that happens you would pay the new rate on the capital gains portion of your installment note payment. We Recommend that you work with Estate Planning Team’s Professional Advisors who are experienced in trust law, trust asset management and tax law.