Advisory Services Archives - Wiss & Company, LLP

2021 Cryptocurrency Market: Year In Review

Written on December 29, 2021. Posted in Advisory Services, Cryptocurrency, Investing, Tax, Tax Alerts.

Interest in and adoption of cryptocurrency (“crypto”) has been at an all-time high in 2021. In the past year, there have been a number of new, game-changing developments in the space which we will summarize in this piece. In addition to a market update, we will also highlight the most common audit, tax, and advisory themes that our teams have been discussing with our clients. Market Update The crypto market exploded in early 2021, with bitcoin reaching an all-time high of $65k in...

5 Benefits of Implementing an ERP System to Your Business

Written on September 2, 2021. Posted in Advisory Services, General Business, Technology.

By Alex Volpi, Technology Advisory Practice Leader At some point, companies will reach a point where spreadsheets, disparate systems and disjointed processes are no longer cutting it. This is where Enterprise Resource Planning (ERP) systems come into the picture for many organizations. In fact, 96% of emerging businesses that are leaders in their industries use an ERP system, and 95% of companies saw an improvement in their business processes after implementing an ERP system,...

Capital Formation Advisory

Written on February 2, 2021. Posted in Advisory Services, Financial Planning, General Business.

Whatever stage your company is in, Wiss Capital Advisors can help you make the right financing decisions. We can advise on securing equity capital for growth-oriented companies, including expansion capital and pre-IPO financing. We can help you secure financing for a management buyout, management buy-in, or corporate divestiture. And we have the experience and expertise needed to help you in special situations, including acquisition financing, public-to-private transactions, and...

SBA Releases Loan Necessity Questionnaire’s for Large Borrowers

Written on November 2, 2020. Posted in Advisory Services.

By: Travis Miskowitz After many months of waiting and speculation, on Monday October 26th, 2020 the Small Business Administration issued a notice stating the intended release of two new forms available here relating to FAQ – questions #31, which describes each borrowers good faith certifications that current economic conditions made the PPP loan necessary to support ongoing business operations. While this guidance was not available at the time business could apply for the PPP loan...

Documenting Expenses to Support PPP Loan Forgiveness

Written on April 7, 2020. Posted in Advisory Services, Financial Planning, General Business.

By Travis Miskowitz The Paycheck Protection Program allows loans of up to $10 million at 1% interest to employers with fewer than 500 workers. The purpose of the program is for employers to retain their employees; the loan amount is intended to cover two months of payroll and overhead. The government will forgive most or all of the loan if the company keeps its workers and does not cut wages. The maximum amount of the PPP loan that is eligible for forgiveness is equal to the amount...

Economic Injury Disaster Loans & Emergency Economic Injury Grants: What You Need to Know

Written on March 29, 2020. Posted in Advisory Services, Financial Planning, General Business.

By Travis Miskowitz SBA’s Economic Injury Disaster Loan THE BASICS What is the criteria for a loan approval? Credit History – applicants must have a credit history acceptable to SBA Repayment – SBA must determine that the applicant business has the ability to repay the SBA loan Eligibility – the applicant business must be physically located in a declared county and suffered working capital losses due to the declared disaster, not due to a downturn in the economy or other reasons How...

Managing Cash Flow During Crisis

Written on March 23, 2020. Posted in Advisory Services, General Business.

By Travis Miskowitz, Manager, Wiss CFO Advisory Cash flow is the lifeblood of your business. During this (or any) time of crisis, it is imperative to keep an eye on your cash flow and regularly monitor your cash position. Instituting effective cash flow management may be the most important action you can take to navigate through challenging times. The Wiss team has put together this list of recommendations to help monitor your progress: Monitor your cash flow regularly With the...

5 Questions to Prepare Your COVID-19 Readiness

Written on March 13, 2020. Posted in Advisory Services, General Business.

By Paul Ursich Beyond the immense impacts the coronavirus (COVID-19) outbreak is having on public health, the pandemic directly impacts economic activity and poses unique challenges to businesses across industries because of its potentially compounding and unpredictable consequences. With massive quarantines, travel restrictions and factory shutdowns, companies are struggling to quantify potential exposure. Attempting to mitigate potential losses from an unknown number of variables...

New Jersey’s Changing Laws Regarding Independent Contractors

Written on February 13, 2020. Posted in Advisory Services, Human Resources.

by Lisa Calick, SPHR New Jersey continues down the path of strengthening employee rights in the workplace, with recent legislation designed to help and protect workers. Last month Governor Murphy signed several bills into law to combat worker misclassification. Below is a summary of newly enacted laws which New Jersey businesses should pay close attention to: Penalties for Misclassification New Jersey employers that misclassify workers as independent contractors may be liable for...

A message to CEOs: When a CFO joins or leaves your company, it’s an ideal time to conduct a Business Process Review

Written on November 7, 2019. Posted in Advisory Services, General Business.

by Paul Ursich A CFO entry or exit event, especially when it comes to mid-sized companies, is often an opportune time to conduct a Business Process Review. When a mid-sized company decides to bring on a CFO, it’s an indication of an important company life cycle shift. Making the investment into this critical CFO role is a major one. It’s the perfect time to conduct a Business Process Review to provide valuable insight into this new hire. An immediate and independent review can drastically...

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