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South Carolina


Florence Illustrates the Importance of Disaster Preparedness

October 2, 2018 / by Brad Stickland posted in Small Business Advice, South Carolina, Bookkeeping Services, Business Advice, Business Continuity

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You never know when or where the next hurricane will strike the United States. You only know that it will. As Hurricane Florence violently demonstrated once again, it's vital that your business have a solid continuity plan in place for the worst-case scenario.

People tend to use the term "major disaster area" generically to describe any region where a calamity has occurred. But when it comes to relief, the Federal Emergency Management Agency has specific guidelines that enable the president to issue a major disaster declaration, releasing federal funds for assistance in the stipulated region. While much of the relief funding is used to repair public infrastructure, some can also benefit businesses, often in the form of loans through the Small Business Administration.

If a business needs to be completely rebuilt and will be offline for a while, its employees or contractors might be eligible for Disaster Unemployment Assistance. In addition, the IRS grants many businesses in federal disaster areas extensions on certain filing deadlines.

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Does Your Small Business Need a Loan — or Better Bookkeeping?

January 25, 2018 / by Brad Stickland posted in Small Business Advice, South Carolina, Bergen County, NJ

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With Special Thanks to Jay Bloom

Small Business Administration (SBA) loans have steadily increased in recent years, and it's easy to understand why. With funding available from as little as $500 to as much as $5.5 million, an SBA loan can be just what you need to launch a startup or take a growing business to the next level.

Could you get an SBA loan? Do you even need one? To find out, consult a bookkeeper.

Time for a Credit Check
The SBA doesn't make loans — it merely guarantees them (up to 85%). That gives the lender more flexibility with its credit requirements, which makes SBA-backed loans ideal for early-stage companies that don't have sufficient collateral or profitability track record for a traditional bank loan. 

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Cash or Accrual Accounting: Which Is Best for Your Business?

June 1, 2017 / by Jane Lvovskiy posted in South Carolina, Brooklyn - Staten Island, Bookkeeping 101

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Before you can answer the question posed above, you need to understand the difference between the two types of accounting.

Essentially, cash accounting is just what it sounds like — a pay-as-you-go approach that documents your payables and receivables in real time, more or less. With accrual accounting, there's a lag between the time you receive your "accounts payable" goods or services and the time you actually pay for them; the same is true on the "accounts receivable" side of the ledger.

As long as it all comes out in the wash, does it matter which one you use? The answer often comes down to timing — and to IRS regulations.

Opt for Cash Accounting
Let's say you have a modest nail salon and follow the standard calendar tax year (Jan. 1 – Dec. 31) for your financial reporting. Most of your work consists of manicures or pedicures that cost relatively little, and your customers pay in full each time. You reorder supplies and replace equipment on a regular basis.

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Start-ups Attracted by More Than Just "Southern Charm" in the South

October 26, 2015 / by Brad Stickland posted in South Carolina, Bookkeeping Services

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Texas and South Carolina Cited Among Top States for Doing Business

November 22, 2014 / by Leslie Jorgensen posted in Franchises, South Carolina, Texas

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We already knew that Texas and South Carolina are great places for growing companies. After all, both states are home to Supporting Strategies offices where we've seen clients thrive. Now Area Development magazine has chimed in, counting Texas and South Carolina as two of the top states in which to do business. That's good news for all of you out there working to grow your business — or your clients' businesses.

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Client Profiles: 603 Brewery & ISI Technology

October 29, 2014 / by Leslie Jorgensen posted in Client Profiles, South Carolina, Southern New Hampshire

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Through our 15 office locations, Supporting Strategies serves hundreds of small businesses from coast to coast. Hear from two clients who rely on us for expert bookkeeping and operational support: 603 Brewery and ISI Technology. 

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