Posted by
Tom Aiken on Wed, Sep 14, 2011 @ 10:47 AM
A company should have a business plan including financial information showing how money flows in and out of your company. Good financial statements will be the foundation for this information.
About 25 percent of businesses with fewer than 500 employees keep financial statements, according to the Federal Reserve Board's Survey of Small Business Finances.
With your financial information, you will be able to explain to the banks why a loan of a specific amount will either help your business catch up to industry peers or drive your already-superior numbers higher.
Small companies need to establish a solid relationship with a bank that targets entrepreneurs. Even if it cannot issue a loan, the bank might be able to connect you with angel investors, grant opportunities and various funding programs available to the company.
Consider hiring a certified public accounting firm to assist you in developing realistic financial figures.
DGK Group can assist you in preparing meaningful financial projections and statements that meet the requirements.
Call us at 215-682-9047 and learn more about us at www.dgkgrouppc.com
Posted by
Tom Aiken on Wed, Aug 10, 2011 @ 08:42 AM
With the recent economic downturn and the continued anemic return to growth, many CEOs of early stage and emerging growth companies are looking to reduce costs and increase efficiencies through outsourcing Controllers
and CFOs.
Find out how DGK can assist you. www.dgkgrouppc.com
Posted by
Tom Aiken on Wed, Aug 10, 2011 @ 08:33 AM
Tax considerations for early-stage and emerging growth companies
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From the beginning owners should consider the tax ramifications of forming a C corporation, S corporation, limited liability corporation (LLC), partnership, or other form of legal entity. Each entity has its own set of tax benefits and limitations that may affect the growth and strategic objectives of the company.
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Accounting methods vary based on the growth stage of a company. An early-stage company may use a cash basis financial statement for managing the business, and an accrual basis financial statement for banks and investors. Tax returns may use either method, within certain limitations. Accounting for transaction costs, deferred revenue, and depreciation are a few areas to consider.
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Research & development tax credits can be significant deductible expenses. Tax credits are available for certain research activities however a thorough analysis of the creditable activities are required by the IRS guidelines.
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Forms of compensation and benefits such as salaries, commissions, bonuses, equity compensation such as unrestricted and restricted stock, stock options, employee stock purchase plans, qualified pension plans, and profit sharing all have an impact on taxes.
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State and local tax issues must be considered. There can be tax incentives and credits such as enterprise zones and other tax minimization strategies around location of activities and intercompany transactions. The issue of nexus, regarding sales and use taxes is something that needs to be reviewed.
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Mergers, acquisitions, joint ventures, and other transactions need to be analyzed to maximize deductions of goodwill and intangible assets acquired in a tranaction. Companies should also plan for the best tax treatment in the purchase or sale of assets for stock.
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Net operating losses (NOL) and other tax credits carry forwards into future years can be impacted by changes in a company's ownership structure. Limitations may restrict the amont of NOL than can be utilized and potentially elimanate the benefit of a bonus depreciation deduction.
These are some of the tax considerations DGK Group can assist you with in making the right decisions and planning for the future.
Call us at 215-682-9047 and learn more about us at www.dgkgrouppc.com
Posted by
Tom Aiken on Tue, May 17, 2011 @ 05:30 PM
Pennsylvania Department of Revenue has revised the frequency requirements for sales tax filing. Businesses are required to file returns and remit payments on a semimonthly basis effective June 1, 2011. Some businesses that reported sales, use, and hotel occupancy tax of $25,000 or more are now required to make monthly pre-payments.
Contact us today to discuss your tax planning needs - Contact Us
Posted by
Tom Aiken on Tue, May 17, 2011 @ 05:23 PM
DGK is a Platinum sponsor of the Mid Atlantic Diamond Ventures and on May 26th MADV will hold its late Spring venture forum at the Philadelphia Country Club.
You can register at MADV REGISTER
The presenting companies will be:
Aviana Molecular Technologies
Gridplex
Momentum Dynamics
My Chinoki
Pillar Rock USA
Plehn Analytics
The partners and staff of DGK will be attending so stop by our table and talk with us about our -Entrepreneur Support Program!