Money & Finance

Post image for Getting Paid in a Tough Economy

Cash (flow) is king, especially in a challenging economy. But there are ways you can ensure that you get paid in a timely manner.  Jamie Herzlich’s article in Newsday gives some handy pointers, including: Staying on top of unpaid invoices Developing a system for handling them Putting payment plans in place ASAP (if full payment […]

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Post image for New Legislation to Help Home Office Deductions

Rep. Charles Gonzalez (D-TX) recently introduced the Home Office Tax Deduction Simplification and Improvement Act (H.R. 7074).  According to a press release by the U.S. Small Business Administration’s Department of Advocacy, the goal of the bill is to simplify the home office deduction by introducing a standard deduction for small-business owners.  It is companion legislation […]


With the post-9/11 demise of some insurance companies and the refusal of others to insure New York businesses, insurance rates are definitely spiraling . . . often out of the control and the reach of the small business pocketbook. This has affected all forms of insurance including medical plans, workers’ compensation, and general liability. With […]


They say that “fools rush in where angels fear to tread,” and the same applies to raising capital for your business from friends and family. The personal relationship should act as an extra warning flag to you that such transactions should not be treated lightly or casually. When times are hard and other sources of […]


Cash flow challenges present a dilemma that many entrepreneurs face. You need to grow, but lack the available cash to invest in the growth. For example, you may need a computer network, or telephone system, and the sticker price sends you into an anaphylactic shock. What’s a business owner to do? Thankfully, for some, there […]


Post image for Raising Investment Capital–Beware of ‘Finders’

Let’s face it. Not all of us are independently wealthy. Sometimes we need financing from others to help convert our dreams into tangible reality. But is it legal to give someone a “piece of the action” for finding a source of capital? The answer, writes my colleague, Steve Furnari, Esq., is an unequivocal “no.” Read […]


Post image for Anatomy of a Loan Document

From our own comes this handy article by Sean Melvin, Esq. on what to look for in a small business loan package. As Melvin points out, the package usually “comprises three documents, including a loan agreement, a promissory note, and some form of guarantee and surety agreement.” Briefly, The loan agreement contains the “representations […]


Post image for Credit Card Companies Slashing Credit Lines

Just when you thought it was safe to use your business credit card to buffer the not-quite-robust-cash-flow experience you’ve been having, check again. This recent article from the Wall Street Journal online indicates that companies such as American Express are slashing credit lines–even for solid customers–when they are deemed a “credit risk.” If you check […]

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Post image for When Friends and Family Finance Your Business

Don’t get sloppy: Handle transactions properly to preserve your personal ties. You’re ready to launch your new business. Your credit cards are tapped out, you rent your apartment (making you ineligible for a home equity line of credit), your personal credit’s less than stellar and your bank is not interested in lending you money for […]


Post image for The Legal Implications of Bookkeeping

Aside from the “two sets of books” scenario that provides the fodder for tabloid headlines and old movies, I tend to think of bookkeeping as, well, mundane (apologies to bookkeepers nationwide as well as to my own, Debbie, who’s a real firecracker). Not something sexy, just something that has to get done. Like brushing your […]


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