While there are great benefits to having your father, mother, siblings or extended relatives as part of your business, there are different reasons why family businesses struggle. Managing family relationships is difficult, so imagine how hard it is to manage these dynamics in the workplace. Here are 4 traps to avoid when running a family business: 1.…
Recently, tax professionals have been the target of criminals for identity (ID) theft. Among other reasons, tax professionals work with a large amount of sensitive data; stolen data can be used to file fraudulent returns rather inexpensively, and the return to criminals is very high. What’s more, smaller firms make an attractive target because in…
E File Group has a first row seat to what is driving new business to tax professionals around the world. Let me share a story with you that we received recently from one of our members. Allow me to preface this story with the fact that it would not have been possible for this tax…
We’ve been in the “digital economy” for some time, yet it continues to evolve with new business activities and ways of living. And, we see “old economy” businesses, like Ford Motor, move more into the new economy. I define the digital economy from the perspective of how people and businesses engage in it: • Transacting…
Cash flow is the lifeblood of any small business. Some business experts even say that a healthy cash flow is more important than your business’s ability to deliver its goods and services! While that might seem counterintuitive, consider this: if you fail to satisfy a customer and lose that customer’s business, you can always work…
