Menu

Sageworks Blog.

Pass-throughs to get more IRS scrutiny

Posted by Mary Ellen Biery
 Pass-throughs to get more IRS scrutiny

The IRS plans to shift more resources and attention to audits of pass-through entities in 2014 and beyond, according to reports of comments by Faris Fink, head of the IRS Small Business/Self-Employed division. And yes, it is the same Faris Fink who played Spock in a Star Trek parody training video that got IRS officials in hot water this year. ...

more »

Member business lending: Opportunity for credit unions

Posted by Sageworks
Member business lending: Opportunity for credit unions

Back in March of 2011, only 30 percent of credit unions provided credit to businesses, according to the National Credit Union Administration. However, member business lending has increased consistently as of late and the trend is expected to continue. ...

more »

Leverage what you learned during busy season

Posted by Sageworks
Leverage what you learned during busy season

Busy season is the perfect time to learn more about your clients and their businesses. Think back to the conversations you had and what they shared with you. Did they mention any changes or concerns with their life or business? Even if you weren’t able to spend a lot of time with them during tax season, that doesn’t mean you haven’t learned new things about their business. ...

more »

Applying for a business loan? Why personal finances and credit scores matter

Posted by Sageworks
Applying for a business loan? Why personal finances and credit scores matter

Many business owners are required to submit their personal finances and credit scores for commercial loan applications, but why? In most cases, the owner is the guarantor for the loan and either contributes or receives income from the business. In addition, it is common especially for sole proprietors, to mix personal and business finances. Since most of these transactions do not appear on financial statements, it is difficult to gain an accurate picture of the cash flow. Subsequently financial institutions run a global debt service calculation to understand the flow of cash. ...

more »

3 Quick tips to establish small business credit

Posted by Sageworks
3 Quick tips to establish small business credit

Many small businesses have trouble attaining lines of credit or loans because they don’t have established credit scores. The Catch-22 is that you need successful transactional histories to increase credit scores, but most suppliers and vendors are hesitant to conduct business on credit if your credit scores are too low or nonexistent. That said, there are a few things small businesses can do to get over these initial hurdles. ...

more »

Companies conducting self-evaluation

Posted by Sageworks
Companies conducting self-evaluation

When a company is evaluating its own financial health to plan for growth or for a downturn, an assessment of the company’s current situation and the probability of default helps create a more complete picture. ...

more »

Ensuring the creditworthiness of partners

Posted by Sageworks
Ensuring the creditworthiness of partners

Uncertainty remains the mood of the day, with surveys showing that a sizable portion of private companies are worried that a potential lack of demand is the top barrier to growth. Business owners must protect themselves against financial and operational risks, even as they balance the need to service customers and plan for growth. ...

more »

Factors that affect small business credit

Posted by Sageworks
Factors that affect small business credit

Many small private businesses are finding it challenging to access financial resources for growth at a time when lenders are still cautious and facing pressure to avoid risky loans. Many businesses already know this, because they have seen their borrowing requests rejected by a lender. Others may be considering starting a loan application and want to ensure the business is best prepared to receive an approval. ...

more »

Definitive guide to understanding global cash flow analysis

Posted by Libby Bierman
Definitive guide to understanding global cash flow analysis

In today’s financial services industry, there is little room for poorly informed loan decisions. Especially given the recent change in BASEL requirements, a true understanding of risk is essential if your financial institution is to comply with regulatory guidelines. Sageworks releases a new whitepaper. ...

more »