{"id":1291,"date":"2008-06-11t00:02:35","date_gmt":"2008-06-11t05:02:35","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=1291"},"modified":"2016-04-21t14:55:54","modified_gmt":"2016-04-21t18:55:54","slug":"don-snyder-money-tips","status":"publish","type":"post","link":"\/\/www.g005e.com\/2008\/06\/11\/don-snyder-money-tips\/","title":{"rendered":"don snyder | money tips"},"content":{"rendered":"

\"snyder_don-cropped.jpg\"<\/a>four good ideas for managing small business in a slowdown.<\/strong><\/p>\n

by <\/strong>donald j. snyder, cpa<\/strong>
\n partner
\n green hasson & janks llp<\/a>
\nlos angeles<\/strong><\/p>\n

1. scrutinize the budget.<\/strong> review yearly budget on a monthly basis, comparing actual and budget amounts – challenge all variances.<\/p>\n

2. manage cash flow. <\/strong>stretch your payables to manage your cash flow. if you’re used to paying within 15 or 30 days, stretch your payments beyond the norm. ensure that you speak to your vendors first to inform them that times are tough and you need to stretch payments to 60 or 90 days.<\/p>\n

3. discounts.<\/strong> ask to take discounts on bills, especially on volume.<\/p>\n

4. lease extensions. <\/strong>contact your leasing company to explore ways to extend your leases or restructure your payments.<\/p>\n

specific example: i have a entertainment industry client who found making their $100,000\/month lease payments problematic during the writer’s strike. i contacted their leasing company and convinced them to defer the principal portion of the lease payments. my client ended up only having to pay sales tax, reducing the monthly lease payments to $50,000\/month. this one phone call basically provided free financing.<\/em><\/p>\n

don holds a bachelor of science degree in administration with emphasis in accounting from the university of colorado. he is a member of the california and colorado societies of certified public accountants and the american institute of cpas. currently, he serves on the board of directors for the children’s nature institute and his synagogue. don, a competitive master swimmer, and his family live in los angeles.<\/em><\/p>\n