Small Business Advisory

Dear Clients & Friends, Rising inflation is a burden on us all, but the good news is that the state of Illinois is helping ease the burden by suspending the 1 percent sales and use tax imposed on groceries for one year, as of July 1, 2022, and instituting a ten-day sales tax holiday in […]

Smart business leaders, especially in manufacturing and distribution, are increasingly focused on supply chain strategy and optimization to better navigate today’s volatile climate.     The Covid-19 pandemic was devastating for many businesses. Due to “stay-at-home” requirements, many businesses were hit by dramatically reduced profits, while others had to close altogether. Additionally, the pandemic exposed underlying vulnerabilities […]

Dear Clients & Friends,   QuickBooks is an invaluable accounting tool for small business owners, who can use the software for everything from securely paying bills and invoicing customers to processing payroll and even preparing financials.   However, the platform offers so many features that it can initially be tricky to set up, somewhat challenging to navigate, […]

The Small Business Administration (SBA) and Treasury have now issued guidance and released application forms for the second round of the Paycheck Protection Program (PPP2).

As part of a series of new measures to relieve pressure on small businesses, the State of Illinois announced that it is allowing the deferral of sales tax payments by waiving all penalties and interest for two months. The provision is expected to benefit 24,000 small and medium sized bars and restaurants, accounting for nearly […]

When it comes to tracking incoming sales and outgoing expenses, there are many ways businesses can keep up with their invoices and implement strategies to reduce the time they spend on unpaid sales.  Accounts Receivable Turnover Ratio  Simply defined, the accounts receivable turnover ratio is a way of showing what percent of a company’s receivables […]