FAQs

You may want to obtain a valuation if you are:

• Preparing to sell, merge, or acquire a business
• Planning for ownership or partnership changes
• Raising capital or entering a major financing arrangement
• Engaging in estate and gifting, or succession planning
• Navigating disputes or strategic restructuring
• Periodically reviewing value as part of long-term planning

Cash flow planning is the strategic process of forecasting how money moves in and out of your business. It’s more than just watching your bank balance, it’s understanding what’s coming, what’s going, and how to prepare for what’s ahead.

Understanding the different types of cash flow helps business owners and CFOs see exactly where cash is being generated and where it’s being used.

• Cash Flow From Operations (CFO)
• Cash Flow From Investing (CFI)
• Cash Flow From Financing (CFF)
• Free Cash Flow (FCF)

At least quarterly in today’s environment, with interim updates when input costs or competitive pressures shift.

Income statements for a period of three to five years, freight and returns data, historical pricing/discounts, and capacity constraints. We can start with what you have and improve as we go.

• It means mailing on the deadline day is risky
• Timing of delivery matters for both individuals and businesses
• Mailing 5-7 days ahead is ideal for anything with a firm deadline
• Using online payments or electronic filing whenever available
• Reserving priority mail (1-3 days) for strict deadlines, and only when tracking is essential

Income for a not-for-profit is subject to unrecorded business income tax (UBIT) if 1) the activity could operate as a trade or business, 2) the activity is regularly carried out, and 3) it is not substantially related to the Organization’s exempt status. It does not matter if the income is used to support the Organizations exempt purpose, if it meets these three criteria it is subject to UBIT.

Common examples of income subject to UBIT would be advertising, parking, rental of the building to a NFP that does not have a similar mission to the Organization, and legal gambling. Considering if new revenue streams will be subject to UBIT early on allows Organization to plan, budget and file returns appropriately. Most tax-exempt Organizations are subject corporate tax rates at 9.8% in Minesota and 21% federal.

Yes, if gross UBIT is over $1,000 there is a federal requirement to file a 990-T and a state requirement for UBIT over $500 to file a M4NP. Most tax-exempt Organizations are subject corporate tax rates at 9.8% in Minesota and 21% federal.

• 1099-NEC (nonemployee compensation)
• 1099-MISC (certain rents, prizes, and other income)
• 1099-K (payments processed through third-party networks)
• It’s also important to note that payments made via credit cards or third-party processors (such as PayPal or Venmo Business) are typically reported by the processor on Form 1099-K, not by your business directly.

Finance and Accounting Services are a comprehensive, outsourced solution that goes far beyond traditional bookkeeping. Instead of simply recording transactions after the fact, FAS delivers real-time financial insight, expert guidance, and scalable processes that help business owners make smarter decisions.

• A forecast estimates financial performance based on what you believe will happen based on current data, trends, and planned actions.
• A projection models possible outcomes based on hypothetical assumptions.

• The threshold now counts only participants with an account balance as of the first day of the plan year. Key Takeaways:
  • Audit Required: 100 or more participants with account balances at the beginning of the plan year.
  • No Audit Required: Fewer than 100 participants with account balances at the beginning of the plan year.
• This rule change significantly reduces unnecessary audits for small and mid-sized employers, particularly for businesses whose plans have high eligibility but low participation rates.

• Assess your current financial position
• Reflect on your wins from the previous year
• Set realistic, measurable financial goals for the upcoming year
• Commit to a strategic plan
• Stay connected with your CPA throughout the year

Organizations that thrive are those that connect financial realities to long-term operational goals. Strategic planning helps leaders look beyond day-to-day operations, to make informed, data-driven decisions that fuel sustainable growth.

• Different businesses require different approaches – we help you choose the best fit for your structure, industry, and goals. Some common budgeting methods are:
  • SALY Budget (“Same As Last Year”)
  • Zero-Based Budgeting
  • Rolling Budget
  • Departmental Budgeting (Participative vs. Authoritative)