The Bankruptcy Alternative You’ve Likely Never Heard Of

by Steve O’Neill

There is a quicker, less expensive and more flexible alternative to a business bankruptcy and liquidation that most business owners have never heard of — the Assignment for the Benefit of Creditors, or ABC.  More than 13,000 businesses in the United States, including 210 businesses in Arizona, filed for bankruptcy between March 2021 and March 2022, many of which could have … [More]

Microloans Level the Playing Field

by Rhett Doolittle

The 5 C’s of Credit — character, capacity, capital, collateral and conditions — is an old term that outlines what business owners need to have established to secure financing and grow. The Census Bureau reports that 5.4 million businesses were formed in 2021. Many of these new businesses haven’t had enough time to establish the 5 C’s of credit and therefore may be at a loss as … [More]

Eye on Arizona’s Economy

by Don Garner

From inflation and Arizona’s local real estate market to the national energy scene and other global geopolitical issues, every day seems to bring new economic news to the forefront, but with little real-world context into how these developments will affect growth at the grassroots level.  Putting Issues into Context At Alliance Bank of Arizona’s most recent Economic Forum, … [More]

Successful Healthcare Real Estate Investment

by Trisha Talbot

Stock market uncertainty resulting from Russia’s war in Ukraine has many investors looking for options yielding better returns. Real estate has historically provided excellent profit, especially in recent years with apartments and industrial facilities, including distribution and data centers, in high demand to keep up with explosive growth in the Phoenix area. Because … [More]

Selling Your Business in 2022

by Brian Bond

Given the pandemic’s impact, more business owners will likely be selling their businesses in 2022 due to the uncertainty of the economy and tax increases. This year is a great time to sell a business due to high market demand and consumer spending.  As many business owners know, selling a business is no easy task. Many time-consuming steps go into selling a business. The … [More]

New Tax Rule Targets Businesses That Accept Payment through Apps 

by Marc Lamber

The IRS is now watching those who are self-employed, those who are independent contractors or, even those who just operate a side business, and use payment apps like Venmo, Paypal or Cashapp. Because of a new tax reporting regulation that took effect on January 1, 2022, most payment apps are now required to issue 1099-K’s to any businesses receiving more than a total of $600 in … [More]

Non-Traditional Lending Enters where Rejection Reigned 

by Rhett Doolittle

Half of U.S. small-business owners report facing significant hurdles brought on by the current supply chain disruptions. Couple that with a record number of new businesses being created this year (60% increase from 2020), it’s likely many will fail without access to funding that is typically bestowed only upon larger companies with established track records.  In response to … [More]

What Investors Should Know about Small, Minority-Owned Businesses 

by Paul Ford

Overlooking small and medium-sized businesses is costing corporate America millions of dollars in potential investments. That’s especially true for venture capital (VC) and private equity (PE) firms. The main reason these small and medium-sized businesses are being overlooked is they don’t want to be billion-dollar companies or investors don’t believe the business can become a … [More]

Avoid a Plunge into Bankruptcy

by D. Lamar Hawkins 

Although many businesses look forward to putting 2021 in their rearview mirrors, some economists suggest 2022 could be even worse, with inflation and supply chain delays causing a slowdown or perhaps even a recession.  Many struggling businesses try to navigate their financial difficulties alone, yet that can put them at greater risk. Making smart decisions now, including … [More]

Small Business Owners Can Maximize Their Retirement Plans

by Jacob Guttman

For many small to midsize business owners, retirement doesn’t seem realistic. In fact, new research by SCORE found that 34% of business owners don’t have a retirement savings plan and 40% aren’t confident they will be able to retire before the age of 65. How to save effectively before hitting a certain age often escapes a business owner’s mind, pushed aside by a focus on … [More]

Tax Tips in Prep for Next Season

by Phil Wuollet

Small businesses can be complicated entities so even those that have already filed their taxes for this year can start planning ahead for next year. In fact, it is important to start thinking about potential tax issues and benefits, whether preparing for next tax season or filing an extension for this year. Doing so will save a business money — and can save it from an unwanted … [More]

The Anticipated Tsunami of Commercial Bankruptcies Has Not Happened – Here’s Why

by Anthony Austin

Since March 2020, there has been a great deal of hand wringing over how businesses would weather the economic storm created by COVID-19. As the lockdowns dragged on longer than anyone expected, many speculated that the resulting economic chaos would produce a swath of defaults and bankruptcy filings. Now, more than a year removed from the initial lockdowns, are those … [More]

Businesses Benefit: The Work Opportunity Tax Credit

by Keith Norris Miller

The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to employers who hire people in certain target demographics who often experience employment barriers. This includes people coming off public assistance from COVID-related layoffs. Business owners who hire individuals coming off long-term unemployment of 27 weeks are eligible for a $2,400 to $9,600 tax … [More]

Engaged with Purpose: Who’s Driving the CAR?

by Joshua Zahn

It’s not enough to know something; a person must engage to see results. And what drives anyone’s engagement will significantly impact whether they stay engaged for the long run. According to Gallup (2021), only 35% of employees in the United States are engaged in their jobs. For business leaders, that means that, statistically, six out of 10 U.S. employees are not engaged. … [More]

Tax Advantage: Employee Retention Credit

by Eric Stenson

As part of the CARES Act introduced in 2020, Congress created a new tax credit to incentivize employers to keep workers on the payroll during the pandemic. The employee retention credit is an offset to certain payroll taxes; it is not an income tax credit. The credit, which began on March 12, 2020, was originally set to expire at the end of 2020. The Consolidated Appropriations … [More]

Increased Longevity and the Impact on Retirement Planning

by Jason Romero

Over the last several decades, our life expectancy rate has continually increased. Today, the average expectancy is around 80 years in the United States. The U.S. Census Bureau projects longer life expectancy for decades to come. By the year 2060, life expectancy is projected to have continued its steady increase.  In addition to this forward-looking projection, life … [More]

Financial Wellness Packages: The New ‘Must-Have’ for Competitive Employers

by Rob Schwister

In an October 2020 survey released by the National Endowment for Financial Education, 84% of Americans said COVID-19 is causing stress on their personal finances. More than half of those surveyed said not having money enough saved for emergencies, retirement, college and other uses ranks among their top financial concerns. Workplace Impacts When employees are stressed and … [More]

Big Mistakes Small Businesses Must Avoid in 2021

by Gena Jones

Naturalist Charles Darwin famously said, “It is not the strongest of the species that survives; it is the one that is the most adaptable to change.” What is true for members of the natural world has never been more true for the small business owner. Stop-and-go government regulations and rapidly changing economic conditions have given small businesses plenty to adapt to this … [More]

Facing the Biggest Issues of Business Capital Funding Right Now

by Nina Sharpe

COVID-19 has exacerbated the funding problems businesses face, highlighting the need for change.  The disruptions that 2020 brought left most small businesses reeling. Owners and would-be entrepreneurs found themselves faced with various issues regarding business capital funding, and although it’s tempting to lay the blame solely at lenders’ feet, that would be unfair. Small … [More]

Arizona Passes Prop. 207 to Become the 13th State to Legalize Marijuana

by Raul Molina

At the end of last year, Arizona voters overwhelmingly passed Proposition 207, legalizing recreational marijuana in our state. So, what happens next? According to the Arizona Secretary of State’s office, the law will allow limited marijuana possession, use and cultivation by adults 21 or older; amend criminal penalties for marijuana possession; ban smoking marijuana in … [More]

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