Small Business Saturday is a day dedicated to supporting small businesses across the country. Founded by American Express in 2010, this day is celebrated every year on the Saturday after Thanksgiving.
Whether you’re a small business owner or customer, want to encourage your friends to Shop Small or help rally an entire town; everyone can help spread the word about Small Business Saturday.
Come November 30th, consumers will be out shopping at small businesses in force. As a small business owner, you can take advantage of the day with the free tools below.
There are many tax reasons why a small business organized as a limited liability company (LLC) chooses to operate as a flow-through partnership or disregarded entity taxed as a Schedule C filer on Form 1040. What happens, however, if you have successfully operated your business as an LLC, but have reached a point in your personal life that you want to achieve maximum liquidity and are willing to share continued success and the potential upside with your employees? Your exit strategy options may be very limited because you are a small business with a limited pool of viable potential buyers, if any. This is a common scenario among successful, small government contractors that primarily depend on size standards for new contract awards, including re-competes and renewals, making them an unattractive target candidate to larger organizations (i.e., because of contract novation and re-compete constraints).
When you peel back the layers of the onion, so to speak, what generally makes an organization an attractive target?
Complimentary web broadcast briefing presented by Blank Rome LLP | December 6, 2013, 12 noon – 1:15 p.m. EST
The Small Business Administration’s (“SBA”) new Presumed Loss Rule dramatically changes the consequences for mis-certification of a business’ size or status, and dictates that large and small organizations modify their business practices and strategies. The Rule also leaves open some critical, unanswered questions for small and large businesses alike.
Join Kenneth Dodds, Director of the SBA’s Office of Government Contracting, Ryan Faulconer, Assistant U.S. Attorney in the Financial Crimes and Public Corruption Unit of the U.S. Attorney’s Office for the Eastern District of Virginia, and Al Krachman, Partner at Blank Rome LLP, as they discuss the conduct targeted by the Presumed Loss Rule, its purpose, and:
SBA recently issued a significant rule affecting Multiple Award Contracts (MACs) that implements Section 1331 of the Small Business Jobs Act of 2010. Section 1331 focuses on several “tools” contracting officers can use to increase small business participation in MACs. The final rule also addresses procedures related to the “consolidation” and “bundling” of federal contracts. The final rule follows up SBA’s interim rule issued in November, 2011 which made clear that set-asides may be used in connection with the placement of orders under MACs, notwithstanding the requirement that each contract holder be afforded a fair opportunity to be considered. SBA proposed the changes addressed in this final rule on May 12, 2012.
Set forth below are key aspects of the final rule.
The Private Company Council (PCC), an advisory board to the Financial Accounting Standards Board (FASB), continues to offer “Little GAAP” modifications with two new alternatives for private company accounting: interest rate swaps and goodwill accounting.
These are two areas that affect many government contractors, especially come year-end when closing the books and preparing for a financial statement audit. The first, PCC Issue No. 13-03, is a simplified approach to interest rate swap accounting, for private companies who are in arrangements where they receive variable rates and pay fixed. It also addresses private companies whose only derivatives are similar swaps. The second,