Q: My business is doing okay so far, but what do you suggest if my cashflow is reduced?

A: There are a few good places to start preparing for reduced income:
  • Take advantage of the programs noted in this helpful guide to the many COVID-related programs enacted through the CARES Act. This includes special small-business tax provisions available under the Act
  • Contact lenders to identify options for deferral or forbearance. In the meantime, reduce debt payments to minimum levels.
  • Identify essential expenses so you have a clear idea of your “burn rate.”
  • Call us so we can schedule a time to discuss your options.