The Cash Flow Statement

As I have stated I am old.  When I went through college the Cash Flow Statement did not exist in it’s current form.  I was taught about the Statement of Change in Financial Position.  Quite different from the Cash Flow format. I understand the old statement was not...

Banks

Once again, I have been reminded why I need to work with more than one bank. I was looking to move my HELOC back to the bank where I do most of my personal banking. I moved the HELOC away from them because I found I had timed out, the cause for this was the banker...

Why do 90% of businesses fail?

I was doing a search for something else and the above statistic showed up.  I disagree with it, according to the US Bureau of Labor Statistics, only a quarter of businesses fail in the first year; and half die within five years. The rational for the failures given was...

Business success/fail rates

I was listening to a webinar drone on, and they had a slide that showed business failure rate, this went by quickly, so I looked up the data and found this: According to the U.S. Bureau of Labor Statistics (BLS), the failure rate for new businesses is: First year:...

My dad was not always right

Growing up my dad told me to do a number of things, at times I thought he was nuts. But in my dotage, I see the wisdom in what he said. Unfortunately, what he needed to do was explain it better to his dim-witted son better first. Yet, on one occasion I was correct,...

My dad was right

Growing up my dad told me to do a number of things, at times I thought he was nuts. But in my dotage, I see the wisdom in what he said. Unfortunately, what he needed to do was explain it better to his dim-witted son better first. When I was a teen, I was afraid of...

My dad was right

Growing up my dad told me to do a number of things, at times I thought he was nuts. But in my dotage, I see the wisdom in what he said. Unfortunately, what he needed to do was explain it better to his dim-witted son better first. During the Carter administration, my...

My dad was right

Growing up my dad told me to do a number of things, at times I thought he was nuts. But in my dotage, I see the wisdom in what he said. Unfortunately, what he needed to do was explain it better to his dim-witted son better first. I forget when exactly he told me, I...

Employee – W-2 and 1099…

When an individual receives both W-2 and 1099 forms from the same company, there are several key factors to consider:   Possible Scenarios: – Dual roles: The individual may be an employee who also serves as an independent contractor for separate work....

ROAS

The optimal Return on Ad Spend (ROAS) for social media ads can vary widely depending on factors like industry, business model, and company goals. While a ROAS of 4:1 or higher is generally considered strong, what constitutes a “good” ROAS can differ...

Shelf corporation

I am not certain is you are aware of shelf corporations or not.  It seems most people are not. A shelf corporation, also known as a dormant or aged corporation, is a legally formed company that has been left inactive without any business activities for a certain...

Sexual harassment Training – IL requirement

Illinois and Chicago have specific requirements for sexual harassment prevention training: Illinois State Requirements: All employers in Illinois must provide annual sexual harassment prevention training to all employees. The training must cover: Explanation of sexual...

Flirting vs sexual harassment

Flirting and sexual harassment are distinct behaviors with key differences: Consent and Reciprocation The primary distinction is consent and reciprocation. Flirting is generally welcome and mutual, with both parties enjoying the interaction. In contrast, sexual...

The American Dream

Recently I have been talking to my kids and they believe that the US is not headed in the right direction.  They feel that the “American Dream” is no longer possible.  They are not alone. A recent Wall Street Journal/NORC poll of 1,502 U.S. adults reveals this stark...

Social media not the way to grow all businesses

Many businesses are recognizing that social media may not be the best growth strategy for every business model and are exploring alternative approaches. I am a member of the industries where social media is not particularly effective for firm growth.  I am essentially...

When are people retiring

The average retirement age in the United States has been rising in recent years. While some people are able to retire relatively early, even in their 40s, others work well into their 70s and 80s. Currently, the average retirement age is 65 for men and 63 for women....

The world of tomorrow…

The next world war isn’t going to be a cold one. It’s going to be a shooting war, its going to be a ballistic war over a rapidly shrinking ecosystem. It’s going to be a war for the last of our dwindling energy, drinkable water, breathable air. Kittridge – Mission...

College of corporations not nations

The phrase “college of corporations not nations” originates from the 1976 film “Network.” In a famous scene, the character Arthur Jensen, played by Ned Beatty, delivers a powerful monologue to Howard Beale, portrayed by Peter Finch. Jensen...

Digital Assets

IRS has finalized regulations on broker tax reporting rules for digital assets. A 2021 law requires brokers to report the sales price, tax basis and other data on digital asset trades. The rules were scheduled to first take effect for digital assets acquired on or...

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