Saavy cash management can boost your bottom line

April 1, 2018

Learn the basics of savvy cash management to boost your bottom line. Cash flow—the amount of money flowing into and out of your shop—is an easy concept to understand, yet not always well managed. Not every owner is aware of the impact skillful cash management has on net income, probably because the importance of managing …

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A succession solution in employee stock ownership

October 1, 2016

How to determine if an employee stock ownership plan is right for your company. An exit plan is generally not at the forefront of a company owner’s mind, especially at the height of career success, but it’s no less important than any other business strategy. When the time comes to step down, a comprehensive exit …

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Case study: Expanding from one location to two

July 13, 2016

Expanding a party and event rental business from one location to two ideally results in higher revenue, a bigger market share and more opportunities for the business and its employees. But every so often, the unexpected happens. Consider Jill Redmon, president of Montana Party Rentals in Bozeman and Wyoming Party Rentals in Jackson Hole. Redmon, …

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Payroll perils

June 1, 2016

Mistakes in withholding and paying payroll taxes to the IRS can spell real trouble for small business owners. Every employer faces countless rules and regulations involving the payments it makes to its employees. There are rules that dictate when (and which) workers must be paid overtime, the amount of taxes that must be withheld and …

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Slow season survival guide

October 1, 2015

Tent and event professionals offer their expertise on extending the season, generating off-season revenue and managing year-round and seasonal employees. With the end of the year quickly approaching, many tent rental companies in the U.S. and Canada are preparing for winter and the off-season months. Now is the time to ask some important questions about …

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As the ACA stands

The Affordable Care Act (ACA) may be controversial but it is unlikely to be fully repealed anytime soon. It continues to provide specialty fabrics professionals and their businesses with insurance options, cost assistance and increased buying power through the government-sponsored marketplace—and a considerable amount of paperwork and confusion. Now is the time to begin preparing …

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The tax benefits of attending trade shows

August 1, 2015

Owners, managers and employees of tent and event rental businesses, even shareholder-employees—have long been allowed to claim an income tax deduction for the expenses of attending trade shows, conferences and meetings. Thanks to federal tax laws, the government will pick up the tab for a sizable portion of the expenses of attending events, if the …

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Cost control

August 1, 2014

Tips to minimize workers’ compensation costs. By William J. Lynott Workers’ compensation costs can become a major expense. Almost every business in the United States that has employees must deal with the cost of workers’ compensation. Take these steps to help keep workers’ comp costs under control. Smart hiring comes first Within the limits imposed …

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Business credit primer

June 1, 2014

Understand how business credit differs from personal credit. By William J. Lynott Business credit works the same way as personal credit in many respects, but there are some important differences. Information about business credit transactions is gathered by the business credit agencies to create a business credit report. Identification includes business name and address, and …

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The case for EPLI

April 1, 2014

Don’t assume that a general liability or business owner’s insurance policy will cover you in a lawsuit related to employment practices. By Brian K. Hall The case for EPLI Don’t assume that a general liability or business owner’s insurance policy will cover you in a lawsuit related to employment practices. A rental business wouldn’t face …