Top Business Accountant & CPA Pauline Ho Reveals How To Improve Cash Flow During COVID-19 – Orlando, FL
Oct 26, 2020
Leading CPA Pauline Ho, head accountant at Laus Consulting Services LLC in Orlando, FL, discusses ways small business owners can improve cash flow during the COVID-19 crisis. For more information please visit https://lausconsult.com
Orlando, FL, United States - October 26, 2020 /MM-REB/ —
In a recent interview, leading CPA Pauline Ho, head accountant at Laus Consulting Services LLC in Orlando, FL, discussed ways small business owners can improve cash flow during the COVID-19 crisis.
For more information please visit https://lausconsult.com
When asked to comment, she said, "With the interruption of business operation caused by COVID-19, many small business owners are scrambling for ways to increase cash flow. It's important to have a plan of action going forward to ensure the survival of small businesses during these unprecedented times."
According to Ho, it’s crucial to first understand a business’s current financial picture.
When asked to elaborate, she said, “You’ll need to first pinpoint the available cash accounts that you can easily access such as operating and reserve accounts, lines of credits, as well as revolving loans. You’ll also want to identify all fixed expenses such as rent due, lines of credit, commercial loans, among others.”
She further added that doing this is important in developing a cash flow plan and pointing to which expenses can be cut in the short term. For instance, looking into curbing operating expenses could be one way to go.
“Small business owners could look into renegotiating or restructuring certain financial obligations they have, such as rent, loan, and lease payments. For instance, you might be able to strike an agreement with your landlord to skip a payment and then to pay back money owed in installments. You can also speak with creditors and lenders about potential payment plans,” she commented.
Decreasing payroll expenses could be another way to shore up cash flow in the short term.
"You might want to explore the option of furlough for full-time employees and place them on a part-time work week. You also have the option of cutting down on part-time work for employees until business activity resumes again. However, if you do decide to cut down on your workforce, then you might not be able to take advantage of federal programs to incentivize small businesses to retain their employees.”
Federal programs available to offer relief during this time are also a good way to enhance cash flow.
“Whether it’s existing federal loans or new programs designed to help keep small businesses afloat during the pandemic, it’s a good idea to explore your options. For instance, the CARES Act that was passed in late March might be applicable to your small business. If you’re unsure whether you qualify or not, get in touch with a qualified CPA who can discuss your options with you."
Source: http://RecommendedExperts.biz
Contact Info:
Name: Pauline Ho
Email: Send Email
Organization: Laus Consulting Services LLC
Address: 879 Outer Rd B, Orlando, FL 32814
Phone: 407-401-9768
Website: https://lausconsult.com
Source: MM-REB
Release ID: 88982308
More News
Rivian C.E.O. RJ Scaringe Has Some Ideas for How to Make More Cars in America
RJ Scaringe thinks it will take robots, tariffs and diplomacy to maintain a manufacturing base in the United States.
Mistakes? We’ve Made a Few
For most of its life, The New York Times has tried to correct its errors. These efforts have not always been perfect.
As the Rich Buy Bigger Boats, Private Equity Is Investing in the Booming Marina Business
The private equity firm Blackstone now owns more marinas than anyone in the world.
Families missing out on NHS money for healthy food
Figures show as few as 64% of eligible families are claiming NHS money to buy milk, fruit and veg.
CNN, MS NOW and Politico Barred From White House After Trump’s Ban
The prohibition on certain journalists was a major escalation in President Trump’s war on the media, and will probably face a legal challenge.
Trump says he plans to form AI Force, appoint AI 'Czar'
US President Donald Trump said Saturday that he is forming an "AI Force" and will announce an "AI Czar" in the near future.
Not all AI workers think the tech could kill everyone
In text exchanges and conversations, multiple people who have worked for leading companies are sceptical of the warnings.
California Cracks Down on Influencers’ Undisclosed Political Ads
Under a new law, creators could face fines of $5,000 per post if they don’t disclose that they were paid to make political content.
Converse Removes Ad That Drew Comparisons to K.K.K. Imagery
“This should not have happened and we will do better,” said Converse, which apologized for the ad. Critics said it depicted a Ku Klux Klan robe and a lynching.
India Is Again Squeezed Between the Threat of Trump Tariffs and Russian Oil
India is trying to secure affordable energy while preserving a crucial relationship with Washington, a balancing act made harder by turmoil in global energy markets.
Amodei, Anthropic’s Leader, Exposed A.I.’s Dangers. It’s Time to Act.
The Times columnist Kevin Roose sees reasons for optimism — and worry — as the world wakes up to what Silicon Valley has been talking about for years.
At DraftKings, AI Targets the Gamblers Likeliest to Lose
Data science helps determine who receives betting incentives, but the company has resisted using similar technology to protect gamblers at risk of addiction.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.