JTC CPAs Chandler AZ

11/05/2024

11/04/2024

https://www.linkedin.com/jobs/view/4060841116

Posted 11:05:28 PM. Company Description JTC CPAs is dedicated to helping business owners navigate the complex laws and…See this and similar jobs on LinkedIn.

08/02/2023

07/20/2023

07/18/2023

📢 Exciting News! 🚀

The U.S. Small Business Administration (SBA) is thrilled to announce a major update to the Small Business Investment Company (SBIC) Program, aimed at boosting funding and growth for small businesses. 🌱💼

Administrator Isabella Casillas Guzman has just finalized the SBIC Investment Diversification and Growth Rule, a groundbreaking regulation that will revolutionize the program. This rule, set to take effect on August 17, 2023, aligns perfectly with President Biden's Investing in America Agenda. 🇺🇸💪

The SBIC Program has always been a champion of innovation and a crucial supporter of small businesses throughout the country. With the implementation of the SBIC Investment Diversification and Growth Rule, we expect to unlock untapped potential and expand the network of SBIC licensed private funds. This expansion will address capital deficiencies that hinder underserved small businesses, startups, and industries vital to our nation's security. 🗝️💼

Here are some key highlights of the final rule:

1️⃣ Introducing the "Accrual Debenture" instrument: This will support longer duration and equity-oriented investment funds, providing them with eligibility for 1.25x leverage tiers. These funds, known as "Accrual SBICs," will help bridge capital gaps and drive growth without sharing profits with the SBA.

2️⃣ Improving Program Accessibility: We have modified licensing fees to reduce the financial burden for new applicants. Additionally, the eligibility requirements for fund managers have been broadened, allowing for a more diverse group of investment teams and strategies.

3️⃣ Fund-of-Funds to Increase Access: We are introducing the "Reinvestor SBIC" model, which invests equity in underlying funds focused on underserved areas. This direct investment approach will benefit small businesses and startups. Fund-of-funds Reinvestor SBICs will enjoy eligibility for 2x leverage tiers.

4️⃣ Expediting Subsequent Funds: We understand the importance of accommodating new applicants while providing excellent service to existing participants. That's why we have introduced a risk-controlled expedited subsequent fund licensing process for eligible applicants.

5️⃣ Streamlining Paperwork: We have streamlined administrative aspects to minimize friction for program participants and investors. This includes accepting FASB GAAP compliant valuations, eliminating the need for pre-approval of a capital call line, and granting safe harbor for eligible follow-on funding.

6️⃣ Strengthening Controls: To enhance risk management, we have implemented changes such as a formal Watchlist for early risk identification and enhanced reporting requirements to monitor investment performance and credit risk.

7️⃣ Clarifying Affiliation: We have brought clarity to the affiliation status of U.S. small businesses with equity investments from SBIC Licensees, ensuring a fair and transparent process.

The SBIC Program has been instrumental in the success of numerous American companies. With over 308 private funds managing more than $40 billion in assets, it has generated and sustained over 103,000 jobs across the United States. This modernization of the program will enable us to continue fostering entrepreneurship, driving innovation, and supporting economic growth and national security.

We're excited about the future of small businesses and startups in America! 🌟💼 Stay tuned for more updates as we work together to create an even more vibrant and resilient business ecosystem.

01/10/2023

How can business mergers benefit from good accounting practices?

There are several ways that business mergers can benefit from good accounting practices:

Identifying potential risks and liabilities: By thoroughly reviewing the financial records of both companies involved in the merger, good accounting practices can help to identify potential financial risks or liabilities that may impact the success of the merger.

Determining the value of the merger: Good accounting practices can help to accurately determine the value of the merger by providing a clear financial picture of both companies. This is important in negotiating the terms of the merger and ensuring that it is financially beneficial to both parties.

Facilitating the integration of : Good accounting practices can help to smoothly integrate the financial systems of the two companies following the merger. This includes combining financial records, consolidating financial statements, and integrating different accounting systems and practices.

Providing accurate financial reporting: Good practices can ensure that the financial reports of the merged company are accurate and up-to-date, which is important for managing the financial health of the company and making informed business decisions.

12/13/2022

How Planning Ahead Could Help You Right Now: Day Two.
When you plan ahead, you create a roadmap for your business. This roadmap can help you make the most of opportunities as they come up, and it can help you make decisions in a more efficient way. By planning ahead, you can also mitigate the risk associated with starting and running a business.

12/12/2022

How Planning Ahead Could Help You Right Now: Day One.
Thinking ahead can help you organize your business and personal life, and can help you avoid potential problems. Planning can also help you take advantage of opportunities as they arise. By thinking ahead, you can make sure you are always in control of your life, and can make the most of every opportunity.

12/09/2022

Types of SBA loans:

The 7(a) loan is a government-backed loan program that was designed to help small businesses get the funding they need to start or grow their business. The loan is available to businesses that have been in operation for at least two years, and have a minimum of $200,000 in annual revenue. The loan can be used for a variety of purposes, including buying equipment, expanding operations, and hiring new employees.

What if you don't qualify for a 7(a) loan or you need more than $5 million?

The SBA has a number of other loan programs that might be a good fit for your business.

The 504 loan program is a good option for businesses that need to borrow more than $5 million. With a 504 loan, the SBA and a lender work together to finance the purchase of fixed assets, such as real estate or equipment.

The Microloan program is a good option for businesses that need to borrow less than $35,000. This program provides loans of up to $50,000 to small businesses and nonprofit organizations.

If you're not sure which loan program is right for you, the SBA has a loan calculator that can help you figure out which program is best for your business.