GROWTH. TRANSFER. LEGACY.
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While so many have suffered horrible unforeseen tragedies and continue to struggle as a result of COVID-19, there is optimism on the horizon for many business owners both new and seasoned as states and businesses are beginning to re-open:
As you are opening your doors to returning employees and embracing customers from a distance, it is nearing time to deliver on those ideas conceived in quarantine for resetting or even pivoting your business. Regardless of the path that you take, careful planning and strong financials are going to be your ticket to the other side of this economic downturn.
1. Re-Set Strategic Plans and Re-Work 2020 Projections– Most of what was conceived in 2019 needs to be revised to better reflect your current income, expenses and projected tax liability taking into consideration expenses covered by PPP Loan Forgiveness but no longer deductible and therefore increasing taxable income.
2. Intentional Cash Flow Planning– is more important than ever, considering changing debt service, staffing levels and the need to update cash retention policies in order to move forward with confidence.
3. Timely and Accurate Financial Statements and Tax Returns will be critical for businesses who have taken a PPP loan which will require accurate and detailed record keeping in order to receive loan forgiveness as well as to be positioned for what comes next.
If you are ready to capitalize on opportunities that are on the horizon and face the many challenges at hand, SJG can help you get to the other side. We specialize in providing personalized, customized accounting and advisory solutions that help expanding and emerging companies meet their financial and business goals now, and in years to come.
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