Small Business Administration has launched a website, Business.gov, that serves as a gateway for U.S. businesses to connect with federal agencies. The site provides links to business development, financial assistance, laws and regulations, international trade, taxes, buying and selling, workplace issues and federal forms.
Internal Revenue Service says its recent partnership with states to share information and data to catch tax cheats has helped to generate more than 28,000 leads and uncover tens of millions of dollars in previously unidentified abuses of federal and state tax collections. Tax administrators are looking into further joint efforts to identify non-filers, detect illegal use of offshore payment cards and uncover money laundering.
The Department of Agriculture and the Small Business Administration last month announced the Rural Business Investment Program to stimulate rural business development and jobs by providing greater access to venture capital investment. The RBIP will allow newly formed venture capital investment companies to leverage private capital funds with government financial assistance and to obtain government grant resources for technical assistance.
Fleet One will administer a private label fuel card program for fleet customers of South Carolina-based convenience store operator The Spinx Company. The Spinx Fleet Card will allow operators of cars, vans or small trucks to control purchases and access real-time account information online 24/7.
Most Americans think business owners and corporate executives live on Easy Street with few financial worries. Yet even highly compensated individuals may have significant holes in their financial safety nets that set the stage for disaster – emergencies that require the intervention of attorneys and certified public accountants. In more than 20 years as a CPA and financial planner, I have been involved in many such “clean-up operations.”
Obviously, the best thing to do is avoid the crisis in the first place. To do this, you need a disciplined review of all the key areas that affect your financial life. Such a “fiscal checkup” should be done annually, preferably not during the winter holidays or spring tax filing madness. You will need your CPA or certified financial planner to help. I recommend the following 11-part “safety net” analysis.
Check overall life goals. Most people think of finances in weekly terms, but to be successful you need to think in terms of years – often five, 10 and 20 or more years into the future. The most important concept to grasp is that money should be for what we need and want most in life. People usually have goals for their money, but rarely if ever do they write them down, share them with spouses and then work together to achieve them.
