• Clint Login
  • Document
  • Search
Book a consultation

Business Growth

Business Growth, Business Tax Planning

The Infrastructure Act and Your San Francisco Bay Area Business

/

Blink, and we’re already into December. Which also means… 2022 is right around the corner. Are you ready? The reason I put this so starkly is that you and I have less than 30 days left to make a tangible difference on your taxes (business or personal). For your business (whether it’s a pass-through entity like an LLC or a C-corp, etc.) we have to ensure that your P/L’s are accurate and that you are being wise about expenses that you should either put off or accelerate, and more. If you want to talk all of this through and get ahead of the game while you can, we’re right here: Patti (408) 241-4100  Gale 408-775-7800 But today I want to address the recently-signed infrastructure bill — this is a different bill than the one grabbing headlines now (the “Build Back Better” Act). The key difference for the infrastructure bill is … well, it is actually signed into law. Let’s look at how it might affect your business. The Infrastructure Act and Your San Francisco Bay Area Business“Americans: Time to gather up those receipts, get out those tax forms, sharpen up that pencil, and stab yourself in the aorta.” – Dave Barry On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act into law. You’ve probably heard of it as the trillion-dollar-plus infrastructure bill. It has a lot to do with bridges, roads, drinking water, climate improvement, public transit, and internet broadband. It’s being called a “once-in-a-generation” law, and, yes, it is big news. A few of the new law’s tax provisions are high-flying: extending some highway taxes, tinkering with taxes for superfund sites, and allowing bonds for some broadband projects and climate-friendly facilities. There’s also a provision to extend relaxed funding requirements for employer-sponsored retirement plans. (We can tell you more about that one.) But the Act also tweaks taxes you and your San Francisco Bay Area business might pay. Let’s take a look at some of the biggest changes. Credit discard The Infrastructure Act will have a big impact on small businesses that planned to take advantage of a popular pandemic-related tax break. The Employee Retention Credit (ERC) was a real goody, a tax credit for a big chunk of the wages paid by companies that the pandemic clobbered on the bottom line. Now, this break is ending early. Maybe too early. The ERC wasn’t supposed to say goodbye until Dec. 31st but got an early sendoff on Sept 30th for most employers, courtesy of the Infrastructure Act. Any wages paid after that are now ineligible for the credit. Some recovery startups can still get the credit, but these companies had to have opened their doors after Feb. 15, 2020, and their gross receipts capped at six figures, among other conditions. (Business owners might also have a shot at retroactively claiming the ERC for prior quarters. Check with us to find out if you are.) Wait a minute – September 30th? That’s right, notice that Washington was too busy bickering to pass this bill before the end of the third quarter of this year, as was once planned. That could be a problem for businesses that used the ERC through October; those businesses might be asking if they’re going to be in trouble for not having sent in the payroll taxes for wages they thought they were getting a break on … You’re not alone in asking this. A lot of people are asking the same question. And it’s a good argument for why Washington should pass a bill when they say they’re going to. Regardless, we’ll keep you posted. Virtual reality If your San Francisco Bay Area business deals with cryptocurrency at all, the infrastructure bill has a tax whammy that’s anything but two-bit: All crypto transactions of five figures and up must now be reported to our “friends” at the IRS. This new ruling takes effect in 2023, so you’ll have to file your first “information reports” on these transactions by Feb. 15, 2024. For now, the focus is just on cryptocurrencies, but the taxman is keeping options open regarding what’s called “other assets” in the exploding digital marketplace. The phrase they’re using is “cryptoasset.” Sounds like a band your kids listen to. But be prepared for the broad-sweeping implications of that term… Don’t worry, we’ll keep you posted as changes roll in, so stay tuned. Disaster planning Currently, the IRS will often give taxpayersincluding businesses extra weeks (even months) to file returns/pay taxes if they’re in areas hard hit by various natural disasters — hurricanes, big blizzards, tornados, floods. But that extra time isn’t necessarily a gimme – the IRS doesn’t have to grant it. Now, the Infrastructure Act says if you’re in an area that’s been hit with a federally declared disaster, you get more time automatically. And “disasters” now also include major fires. The new law automatically gives a couple months’ relief after a disaster is declared. It covers filing and paying income, estate, gift, employment, or excise taxes, as well as filing a petition or notice of appeal with the Tax Court, among other extensions. If this sounds like no big deal for you, just remember: Nobody expects a disaster. This could come in handy. You never know. The only constant is change Washington’s never done with taxes. Other changes most likely loom in future headline bills like the Build Back Better package, and those are more likely going to be stuff that you’re used to seeing in biz taxes, like adjustments (see “increases”) to corporate rates and the cap on the tax deduction for state and local taxes. Or maybe not. If the Infrastructure Act taught us anything, it’s that you can’t be sure about new tax laws until the ink’s dry on the president’s signature. We’ll always keep you posted, and we’ll always be there to answer your questions. We’ll keep you in the know about tax law changes and how they affect your San Francisco Bay Area business. We’ll be here to answer

Business Growth

Patti ONeill and Gale Bergado’s Thoughts on Being Thankful in Difficulty

/

“It was the best of times. It was the worst of times.” I think we can agree that Charles Dickens’s famous lines ring true when looking back at 2020 and 2021 (though “best” might seem like a stretch). With employees shifting their worlds to make room for new priorities, disruptions to supply chains, new government regulations, and so on, we’ve seen San Francisco Bay Area friends’ small businesses (like yours) in a non-stop “pivot” just to keep things running. The constant pendulum-swinging of activity has taken its toll, causing a haze of collective exhaustion to set in. When you’re tired, it’s easy to think about the “worst of times.” But, as we take a little time to rest over here at ONeill & Bergado, we can see that these rollercoaster years have also offered up valuable lessons about what’s important and we’re truly thankful for them. And that’s what we want to focus on right now. When I look back, I can see (right away) the many blessings of my San Mateo practice. First among them: the joy of you choosing us to be a trusted source, not only with your taxes but also as a guiding source when it comes to your business. We know it’s hard to trust your “baby” (your business) to another, and we don’t take it lightly. Also, remembering the journey to get to where we are now is a process from which we can dig out nuggets of gratitude. As anyone who runs their own business will agree, it’s a giant leap to go out “on your own.” I still remember what it was like to take this dream I had for my practice and put it into reality. I was a little bit scared, but I was hopeful. It all seemed so risky, but there were friends and other business owners who helped me along the way. The risk DID pay off of course, and I’m happy about what we’ve been able to create around here at ONeill & Bergado. Now we get to be the ones helping San Francisco Bay Area people like you pursue THEIR dreams. So, as I gather at my table with family and friends this week … I find myself thankful forpeople like you. Thank you for your trust, for your business through these difficult years… and for making my first steps into starting and running a firm so rewarding now. And, here’s a little advice for this week: Whatever difficulties you and your San Francisco Bay Area business happened to have experienced the past two years, find some space for thankfulness. There are hidden gems in the many trials … and hidden fears lying within the windfalls. Finding and savoring the good will help you and your team thrive in the midst of chaos and pressure. Enjoy your holiday, be thankful, and make some room for the best. Warmly, Patti ONeill and Gale Bergado(408) 241-4100ONeill & Bergado

Business Growth

Worker Classification Steps for San Francisco Bay Area Businesses in 2022

/

And the books turn over. As we step over the threshold into 2022, we’re all staring at much lower numbers in our P/L’s. It’s a new slate, and the possibilities are endless. What will you do in 2022? That’s the question of the hour … and it has much less to do with outside circumstances than it does with YOU. Your choices will make all the difference this year — not government policies, congress, sloppy vendors, or recalcitrant employees. YOU. And we’re in your corner:Patti (408) 241-4100  Gale 408-775-7800 And one of the things for which we are in your corner is to keep you and your San Francisco Bay Area business from getting in hot water. Because according to the various sources I’m plugged into, the Department of Labor and the IRS will be making worker classification a big focus of this year — from audits and compliance measures to outreach and PR. All of the virtual and home-based work that is flying around is leading to some business chicanery when it comes to deeming employees as independent contractors as a tax dodge. So, we thought we’d take some time to help you get this straight. Yes, yes … we know — this is a perfect topic to “kick off the new year with a bang.” Ha! But wouldn’t you agree that if you’re gonna get this right, NOW is the time to do so? Worker Classification Steps for San Francisco Bay Area Businesses in 2022“It ain’t what they call you, it’s what you answer to.” ― W.C. Fields. If you had to guess (and you do), would you say you have “employees” or “independent contractors”? This used to be a pretty casual distinction San Francisco Bay Area business owners like us never had to think about. No longer. Now, a business owner has to recognize what the IRS says is the difference – or there could be trouble. Here’s what you need to know… Worker Classification Step #1 – What’s in a name? Your tax situation is different for each type of worker. So, what’s the difference? An “employee” is generally any worker who performs services for your San Francisco Bay Area business if your business can control what will be done and how it will be done. In other words, you control the details of how that worker does their job for you. Usually, they’re paid a salary or wages and may receive benefits. You withhold employment taxes from their paycheck. You have an “independent contractor” on your hands if your worker is in an independent trade, business, or profession that they offer to the rest of the public and that they happen to be doing for you right now. This might include doctors, dentists, veterinarians, lawyers, accountants, construction contractors, and so on. You don’t control the work, only the result of the work. You usually pay them by the job and you withhold no taxes, and they get no benefits. Seems pretty clear. Except it isn’t always. Worker Classification Step #2 – Who’s who? Whether a worker is an independent contractor or an employee depends a lot on the relationship between the worker and your small business. You need to look at three factors that the taxman is beginning to take more seriously: Behavioral control. Again, do you control or have the right to control what the worker does and how the worker does the job? Financial control. Do you direct or control the financial and business aspects of the worker’s job? That is, how the worker gets paid, if expenses get reimbursed, who provides the tools or supplies, and so on. The relationship. Are there written contracts or employee-type benefits such as a pension plan, insurance, or vacation pay? Is this worker’s work a key aspect of the business? Let’s say you hire a plumber to fix a leak in your office. They show up in their own truck with their own tools when they can, and when they’re done you pay them. That’s an independent contractor. Then let’s say you live in an area where everybody has lousy pipes and you’d like to get into the repair business. You contact that plumber again for jobs – except they are jobs you solicit. You provide the tools, the truck, maybe some health insurance, and you tell the plumber where the job is. The check is sent to you, and you pay the plumber a wage or salary out of that money. That’s an employee. Worker Classification Step #3 – Risky business So what’s the worst that can happen if you get it wrong – or if you do what’s been done for years in some industries and call a contractor a “worker” and just move on? Yes, it is tempting to save bucks on all the perks that come with an employee, all the while getting away with telling somebody you tell an independent contractor how and when exactly to do the job.   (And yes, you’re right – when businesses cheat in the Game of Employee/Contractor, they usually try to pass employees off as independent contractors as far as taxes go). But misclassifying a worker as an independent contractor leaves your door wide open to potentially being liable for employment taxes for that worker (such as Social Security and Medicare taxes, as well as unemployment taxes). That is a huge no-no and could be major trouble for your business. Why? The big tax guys are paying a lot more attention to this issue, particularly states like California and, just recently, the National Labor Relations Board.  California thinks everyone is an employee.. check with us. If you get caught misclassifying employees to skirt taxes, the feds can smack you with serious, escalating penalties based on wages and the employment taxes that you failed to withhold. Then there’s interest on missed taxes. Then the state can get involved… It simply isn’t worth the risk. Worker Classification Step #4 – Coming clean If you’re concerned that you’ve already stepped into something smelly concerning this issue, all isn’t lost. The IRS

Business Growth, Business Tax Planning

4 Year End Tax Strategies for San Francisco Bay Area Businesses

/

Before I dive into some year end tax strategies San Francisco Bay Areabusiness owners can and should be making, I want to address some rumors and misinformation about the SALT workarounds that are available to some of our clients (though not all). Essentially, 22 states (as of this writing) have enacted legislation that enables business owners operating in a partnership or S-corp to deduct their state and local taxes (SALT) beyond the 10K cap that exists on federal returns. These are the states that currently provide this workaround in some measure: (source article here) Contrary to what some tax practitioners have been saying, in most cases, you do NOT need to pay these taxes by 12/31/21 to elect for this workaround (if you are eligible). In almost every case, you make this election when you file your entity tax return (often on March 15th), and it will then enable you to claim that deduction on your personal return. There are nuances state by state (for instance, the deadline to have made this election in New York has already passed). But do NOT fall prey to the rumors that you have to suddenly write a big check right now, this week, to have this help you. If you need to talk this over, we’re right here:(408) 241-4100 (And please be patient. I can’t guarantee our availability, as we have a LOT of client work to handle these few days before year-end … but we’ll do our best!) Now … a few year end tax strategies you might should consider this last week of the year, in case you haven’t already… 4 Year End Tax Strategies for San Francisco Bay Area Businesses“We didn’t lose the game; we just ran out of time.”  -Vince Lombardi As I mentioned to my family clients, time is short, and some moves do require more than this week to pull off — so I’m restricting myself to year end tax strategies which you can realistically do something with before the end of the year. And, again–these are focused on what will apply to your San Francisco Bay Area business. If you didn’t get that list for a personal/family return, let me know, and we’ll shoot it over to you. 1) Buy Supplies in Advance (to increase expenses and offset income)How much disposable equipment do you expect to use in 2022? Order it now so the cost is deductible in 2021 if you need to offset income. Buy what you think you’ll need for the coming year, as long as you have the space to store it. This is especially easy to do with software, information courses, or other subscriptions that you know you want to keep. A word of caution: Under a 12-month rule, you cannot deduct prepaid expenses that run more than the end of the year following the current year. For example, if you prepay a three-year subscription to a trade journal, the cost is deductible over three years (not just one). 2) Work Now, Bill LaterInstead of sending an invoice immediately so you’ll receive payment this week, consider waiting until next week. This will ensure that payment is received in 2022, and taxes on the income are deferred for another year. However, it may make sense to adopt the opposite approach — bill immediately to receive the income this year. 3) Get Ahead On Other Vendor CostsYou may have bills piled up that are not due until 2022. If you pay them now, you can deduct the expenses in 2021. Don’t have the funds in your bank account at the moment? Consider putting the expenses on your business credit card if the vendor or other party allows it. Costs charged to credit cards before the end of the year are deductible this year even though the credit card bill isn’t due until 2022. 4) Pay Out Some Year-End BonusesMany companies do NOT do this, but this is a quick way that you can reduce your taxable income for 2021 in your San Francisco Bay Area business. Obviously, you’ll need to move rather fast on this and do it through your payroll system. I know there aren’t many hours left to make these year end tax strategies, but if you can squeeze out just a little time for them, you’ll see the good they’ll bear on this year’s taxes. Let’s make the most of what’s left of 2021 and finish strong. Happy New Year, Patti ONeill and Gale Bergado(408) 241-4100ONeill & Bergado

Business Growth

ONeill & Bergado on Managing Small Business Loan Options

/

The big, emergency SBA loan programs for small businesses (like yours) that were launched (PPP) and expanded (EIDL) over the last couple of years are moving back from the radar or wrapping up. That said, there are still great options for funding your San Francisco Bay Area business. Including NEW government programs (like the SSBCI, for one — more about that from me later, as it becomes more available), there are a veritable panoply of small business loan options. And just so you know, the last 2 years has made us VERY good at wading through the murk and mire of these things, so feel free to grab time with us here:Patti (408) 241-4100  Gale 408-775-7800 But BIG PICTURE: Don’t enter into the commitment of a business loan lightly. Good management of your loan starts with knowing what you’re getting into. (And perhaps having somebody who is good at this stuff in your corner. *Clears throat*) ONeill & Bergado on Managing Small Business Loan Options“Always borrow money from a pessimist. He won’t expect it back.” – Oscar Wilde First, make your overall credit situation shine bright – look up your credit score, for one. Forewarned is forearmed, and you don’t want any surprises when you sit down at that lender’s desk. The better your credit rating, the better the loan terms you’re likely to get. And take it easy on how many loans you apply for at once. Yup, it’s true – each application can actually ding your score. Instead, find out as much as you can beforehand about each lender’s criteria for granting loans and apply strategically for a few where you have the best shot. While you’re at it, keep an eye on acquiring new debt and look for ways to consolidate your existing loans (such as transferring your company’s credit card debt to a zero-interest account). Also, be on the lookout for ways to cut costs, even temporarily. No such thing as free money When somebody hands you a small-business loan, it’s thrilling – sometimes such a thrill that you actually forget that you’ll eventually have to pay that money back. Nothing’s free, right? Make sure you’re crystal clear on the real cost of your loan. What’s the annual percentage rate (APR) and the length of the loan? Those are two of the biggest questions. Start by running some numbers through a simple business loan calculator. Other good questions: A borrowing buffet While we’re on the topic, there are all kinds of small business loans options– and even grants you don’t have to repay. For instance, you could go after a working capital loan for your short-term financial needs, such as expenses during down sales cycles. These loans can be quick to get – but interest rates tend to be high with these loans and the debt can even become a personal debt liability for you the owner. Risky business… Money for your San Francisco Bay Area small business might also be waiting in some unusual places. Believe it or not, Walmart Inc. offers a ton of grants to businesses. The U.S. Treasury also has a Community Development Financial Institutions Fund with a list of local resources that can help small businesses like yours, especially in certain industries and sectors. You’re approved – Now what? So, you’ve chosen a loan from the plethora of small business loan options, and you’ve signed on the dotted line. Job done, right? Well, not so much. Track spending. Did you have plans for the money? Sure, you did – anything from good intentions in your head to a detailed, written schedule. Now, follow the plan. Keep the loan separate and distinct in your accounts and spend the cash on what you planned to spend it on. Do not dip into it for personal expenses or for other business costs. Track your balance. Set up a recordkeeping system that’s clear to you – maybe an Excelspreadsheet – and stay on top of what you’ve paid on both the interest and the principal. Keep your lender up to speed on what’s happening in your business (especially if you hit bumps in the road), and see if you can make it really easy on yourself by automating payments. Loans can be a big help to your San Francisco Bay Area small business – but it takes work. If we can lend a hand (no pun intended), don’t hesitate to reach out. We’re here for you. In your corner, Patti ONeill and Gale Bergado(408) 241-4100ONeill & Bergado

Business Growth, Business Tax Planning

Getting Started with Metrics and KPIs in Your San Francisco Bay Area Business

/

Your car dashboard tells you how far you’ve driven and how much gas is left in the tank. Your smartphone has a button to tell you how much space you’ve got left after taking all those pictures of the kids. Your bank’s all too happy to show you a report on how your accounts are doing. You need the same kind of statistical insights for your San Francisco Bay Area small business. They’re called “Key Performance Indicators” or KPIs. Metrics and KPIs use information you’ve measured and verified to tell you how you’re progressing toward goals. It’s tough to know how you’re doing until you know what you’re doing, am I right? Here’s how to get started… But wait … before I get there. I want to tell you what I’ve been telling some of my 1040 clients. This year would be a great year for you to get “ahead of the game” with your 2021 tax paperwork. Why do I say that? 1) Demand for our services here at ONeill & Bergado is at an all-time high, and I want to be sure our best San Francisco Bay Area clients get seen properly. and 2) There really is no telling how responsive the IRS is going to be this year, even when you have the “Professional Practitioner Line” access we have. The agency is significantly backlogged still … and if we need to make adjustments, we’ll want to be as proactive as we can possibly be on your behalf. SO …. use this to get on our calendar ASAP: Patti (408) 241-4100 Gale 408-775-7800 Now, back to the metrics and KPIs… Getting Started with Metrics and KPIs in Your San Francisco Bay Area Business “It’s not all about talent. It’s about dependability, consistency, and being able to improve.” – Bill Belichick Basically, what you’re looking for are performance measures that you can quantify with a specific, clear value – a dollar figure, let’s say or an increase in sales over a certain time. This performance has to be part of your effort to eventually meet a specific goal. Say you’ve decided your big goal is to double your profits in five years. First, you figure out what that number would be (your goal). Then you figure out what you and your people have to do to meet that goal and how to quantify with plain-as-day numbers your progress each step of the way (your KPIs). Sounds easy enough – but as always in business the devil can run wild in the details. For instance, you have to understand the difference between your leading and lagging indicators. My what? I know, sounds fancy, but, simply put, the tasks you’ve done and the results you’ve achieved are the lagging indicators; leading indicators are the actions you’re taking to get to those results. Not easy-peasy but not rocket science, either. Note: Lagging indicators are easy to measure but tough to change since you’ve done them already (the past is funny that way). Last quarter’s sales would be an example. Leading indicators are naturally tougher to measure but a lot easier to change; an example might be a service or product line that you haven’t brought out yet. Make a plan, Stan. Remember that goal you set? Look at it now and work backward, brick by brick. What actions are needed from you and your people to meet that goal one step at a time? Let’s say you want a hundred bucks in income by the end of the next six months. What has to happen for you to hit that hundred? Now let’s say the first step is hiring folks. Maybe you’ve figured out you’re going to have to hire two new people who will do the work to get you to that hundred. And you know that it’s going to take each of them two months after they learn the job to bring in that hundred in new clients or sales. But before that, it’s going to take them three months to get up to speed. Let’s also say that your vast expertise in business has taught you that you have to interview about half a dozen people to find the right candidate and that it takes you two weeks to interview about six candidates. In terms of metrics and KPIs, you need to: – Place the ads now – Have 12 people interviewed in the next month – Train your two new people in the next three months – Put them to work in the last two months making that hundred bucks Get the idea? Add clear, objective numbers as targets for each step along the way, and you’re in business. What could go wrong? A lot. That’s why you have to make sure your staff is in the loop and knows the importance of metrics and KPIs. Otherwise, a lot of people can get the wrong idea and think this is a big waste of time. – First, make sure everybody knows the difference between a KPI and a goal. Getting a new product out there by the end of summer or boosting employee productivity, for instance, are goals, not measurable KPIs. – Boy, KPIs sound right for us – we want a million of ‘em… No, you don’t. Too many KPIs are impossible to track. Keep’em critical and make them easy to track. – Make it clear to everybody why the metrics and KPIs exist, how they can participate and why the goals of the indicators are important to the whole company. One good way to do this is called a “Measure Gallery” – a big room with a lot of wall space where you post the progress of the KPIs and invite workers to come in at their leisure, take a gander, and chat. Maybe put out some pizza – that never hurts. All of this said … these sort of things are our bread and butter when working with San Francisco Bay Area small businesses. Can we help? Well, let us start by listing some different types of KPIs for you to use as a jumping-off point. Common Financial KPIs * Average transaction value. * Gross profit margin. * A measurement of a company’s efficiency

Business Growth

San Francisco Bay Area Businesses: Here’s How to Deal with Negative Reviews

/

With all of the extra year-end bookkeeping and tax matters your business is trying to tackle right now, a social media storm is the last thing you need/want to deal with.  But it’s sadly the sort of thing that will not go away by itself. And how to deal with negative reviews is something San Francisco Bay Area business owners like you need to be thinking about.  Anybody who’s been in business five minutes has had a customer stand in front of them with a complaint. A worker was rude … Something arrived broken … You didn’t do this … You didn’t do that…  You listen, you work it out, and they either stay a customer or they take their business elsewhere.  Thing is, it used to be that customer complaints weren’t put in writing for potential customers to read – but now that’s exactly what happens when someone complains about your business online. That gripe can just sit there, week after week, month after month, potentially polluting your relationships with new customers before they even begin.  Hey, we love you and your San Francisco Bay Area business, and as far as we’re concerned everybody else ought to love you, too. But here are two truths: You can’t please every customer. And bad reviews of your business online can really hurt your company.  For a long time.  Here’s how to deal with negative reviews and keep your company’s good name online (because we want you to be able to focus on running your business well in times like these)… San Francisco Bay Area Businesses: Here’s How to Deal with Negative Reviews“Many a man’s reputation would not know his character if they met on the street.” – Elbert Hubbard Leaving a good lasting impression is something we all want in life. In business, it’s the key to keeping clients. But leaving a bad one… well that could mean a lot of lost business.  A recent survey showed that more than nine out of 10 consumers say a negative online review can turn them off from choosing a particular business. Other surveys have shown that often online shoppers won’t even go near a business that has fewer than three out of a possible five stars. Wow. Losing new customers because of just one bad comment about your business? Unfortunately, that’s the reality. Even if the bad comment was slipped in by a “Karen” who just has it out for your business, figuring out how to deal with negative reviews should be a top priority. There are a lot of platforms online where customers can bash you (or sing your praises). Google, Amazon, Yelp, Facebook, TripAdvisor – maybe even your own website hosts reviews.  Are you on those sites? Are your customers? Your first move in managing your online reputation: Find out the platforms where your business is mentioned and where your customers like to go. That’s where you should advertise and build some kind of presence. It’s also where bad reviews about you will show up. Put your browser on private mode (aka “incognito” or “InPrivate”) and Google your company’s name. Maybe tack on the word “review.” See anything from a customer? If you did, right now you’re probably either thinking how cool or you’re using some colorful language.  It’s hard, but step one in how to deal with negative reviews is finding those reviews and reading them. And the answer is… Recognize any of your customers? If the comments were positive, write back and thank them – that’s just a win-win.  If the comments were bad – Well, we’re sorry to say, there is no quick DELETE button for those.  Where is the comment posted? Are any of the bad comments recent? If they are, you should respond… and fast.  No, don’t fire off a warhead full of defensive language. Take time to think about your answer. Think relationally. How can you show understanding and build a bridge to a good experience? Responding to the negative comment in this way shows you’re a professional.  You also might learn something to improve your business. And depending on your follow-up, you might even end up keeping the customer. That’s right – some people respect your effort. Not everybody to be sure, but some…  Put your initial response in the public platform where the comment appeared but then take all the back and forth offline – email… or phone call (maybe).  About apologizing: If your business was to blame, say you’re sorry and tell the reviewer you’re working on the problem. But at the first whiff of legal liability, fall back on phrases that don’t pin you down. Better yet, check with a lawyer first.  Responding fast and thoughtfully also shows the other folks on that website – potential customers – that you’re a businessperson who makes things right and fixes problems. That’s a good reputation to have.  You don’t ask, you don’t get One great way to head off problems is to be in charge of the situation. Regarding your online reputation, take the lead and ask for reviews.  Yep, it works. If you’ve got a satisfied customer, ask them to say so online. One negative review by itself looks terrible for you; one negative review among half a dozen positive ones can be a good ad for your business.  Moving forward, if you want to get formal about it, you can set a goal – say, X number a month – for requesting online reviews. Set a schedule for checking your online presence. And if one customer just keeps writing negative review after negative review, don’t be afraid to tell them to take their business elsewhere. It’ll be worth it.  We’re tax and accounting experts, but we’d be happy to help you find somebody who can help you figure out how to deal with negative reviews or any other aspect of your business online. Give us a buzz.  Patti (408) 241-4100  Gale 408-775-7800 Ready to help you however we can, Patti ONeill and Gale Bergado(408) 241-4100ONeill & Bergado

Business Growth

Saving on Office Space for Your San Francisco Bay Area Business

/

Office space can be a big part of owning your own business. It can be a pretty big expense, too… And of course, the past two years might have changed how you do business in that San Francisco Bay Area office – a lot.  Maybe you have more people working from home. Maybe you’ve had to lay off some, at least for now. Odds are good that if you take a peek out over your office these days, you won’t see what you saw in 2019.  It might be time to ask: Do I still need as much office space? Before you answer that question… So, you and I both know that things are a hot mess over at the IRS right now.  With staffing shortages and backlogs plaguing the agency coupled with an inability to reach a real live person most of the time, this year is promising to be particularly difficult for filing taxes (on top of the past two already insane years). The IRS said so themselves. That’s why it’s so important to get things in order now. You can’t afford to put your business in jeopardy by waiting too long (or until the last minute). The IRS’s delays could spell out disaster especially if there are errors or missed things in your filing. Get a tax appointment scheduled right away because time is of the essence this year of all years:(408) 241-4100 Now, if your answer to my question above is “no,” let’s look at what your options are for saving on office space… Saving on Office Space For Your San Francisco Bay Area Business“The biggest boss has the clearest desk.” – John Cho Desks, cubicles, conference rooms: You probably dreamed about them when you imagined having your own business, but the fact today is, they may not be the must-haves they once were – especially when you start looking at how much of your workforce might stay virtual.  I want my employees where I can see them, you might be thinking. That’s only natural thinking for a boss. But don’t be in such a hurry to put that thinking ahead of your bottom line. The American Institute of Certified Public Accountants found out in a recent survey that one in five CPAs and accounting firms expect some sort of office space reduction soon because of the pandemic. In a different survey, three-quarters of big business CEOs agreed, estimating that for every five employees they would wind up needing just three desks. Others said they’ll probably wind up for a while with a hybrid schedule where workers switch off being in the office and working from home. The point is, maybe these companies no longer need as much space.  Which begs the question: Do you? Let’s talk about saving on office space. Play the numbers game What are you spending to maintain your San Francisco Bay Area office? This is probably a painfully clear number but you need to examine it in terms of how big your staff is … and, more importantly, how big your staff is going to be.  Let’s assume that you’ve decided changes in space might help your company. Grab a pencil and think about these questions: You probably already have a good idea of how much room your folks need (and don’t be shy about asking them for their ideas), but, if not, here are some general formulas: Don’t forget space for reception, storage, and other housekeeping stuff, and ask your people about their needs and wants in office space – you may be paying rent on things they don’t even care about.  Multiply what kind of layout you want by the number of employees you’ll have going forward, and voila. Is this number more or less than what you have now?  If it’s less, you’ve got a saving on office space opportunity in your hand.   It’s the lease you can do Any change in your need for office space naturally makes you wonder about your lease. Can you tinker with it?  Many commercial leases are long-term – sometimes a decade or more – but that doesn’t mean you don’t have wiggle room to negotiate as your business changes. Better the devil you know: Try working with your current landlord (assuming you’ve been a good tenant) in your search for less space.  About new commercial leases in general, look for the length of the lease; see if the rent stacks up against others in the area; watch for details like future rent hikes, hidden costs on “net leases” and termination clauses; and wrangle any favorable clauses that you can.  We can help you look at your books and see if changing office spaces is a smart move for you. Please don’t hesitate to reach out.  Patti (408) 241-4100  Gale 408-775-7800 We’re here for you, Patti ONeill and Gale Bergado(408) 241-4100ONeill & Bergado

Business Growth

Succession Planning 101 for San Francisco Bay Area Businesses

/

Whether you’re partial to the Olympics or American football, this past week has brought some great athletic entertainment to many San Francisco Bay Area homes and businesses.  As we speak, the U.S. has managed to grab 16 medals – 7 of them gold. Among those gold medal winners is Erin Jackson, the first Black woman to win an Olympic medal in speedskating. And while he didn’t medal, Shaun White made his final snowboarding bow as he placed fourth in the halfpipe contest. And speaking of winners, hats off to the Los Angeles Rams who battled their way to victory against the Bengals despite the loss of star Odell Beckham Jr. early in the game. They manage to take home a little decorative silver themselves in the form of the Lombardi trophy. Now, although we love sports and are still hopeful for more great Olympic moments, our schedule is already starting to fill up as we are in active conversation with many of our clients to get their business filing process started.  Even if you DON’T have all of your documentation yet available, we can still get the ball rolling for you. Want to get a jump on things? Yes, or yes? Here’s where you can reach us:Patti (408) 241-4100 Gale 408-775-7800 Now, let’s dive into the topic of succession planning and why you need to think about this for your San Francisco Bay Area business… Succession Planning 101 for San Francisco Bay Area Businesses “What could be more important than equipping the next generation with the character and competence they need to become successful?” – Colin Powell Your small business is one of your prized possessions. Why wouldn’t you want to take the best care of it possible, for as long as possible – even after you’re no longer running it?  Handing over the reins of a business doesn’t automatically go well. When Disney screwed up its succession planning a few years back, the stock took a serious hit, causing the bigwigs to launch into hissy fits.  When the old-time members of the Gucci family wouldn’t let the younger successors spread their wings, the backbiting and the tax accusations flew worse than designer luggage at the airport.  And brothers who were inseparable since childhood recently watched their business and personal relationship go, as one brother said, “down the drain” at McCain Foods.  The problem? These businesses either didn’t have a succession plan or – more likely – had one and didn’t stick to it.  So, what can you do to prevent these problems?  Envision that clear path If you’re like many small-business owners, you don’t like to think about the day when you’re no longer at the wheel. Nevertheless, it happens eventually. Be realistic and make a plan – now, while there’s still time – that establishes a clear path of progression for your business.  No matter who shares control of your small business, a succession plan ensures that the future of what you worked so hard to build won’t suffer from a power void – or a power struggle. Your business is too important to risk it falling into unqualified hands.  Maybe a part of you is thinking, “People are gonna fight if they’re gonna fight when that time comes, no matter who a piece of paper says is in charge…” Maybe, but a succession plan ahead of time can put things in place to prevent that trouble before it begins. Not only will managers know where they stand, but they can also help people under them understand, too. A succession plan helps everybody understand and start training for their eventual role as soon as possible. That makes everybody feel more secure as part of your business (kind of helping you today, too…).  What kind of plan do you need? Succession planning comes in a lot of flavors but there are two basic types of plans: long-term and emergency.  Your “long-term” plan will be the blueprint for how your business might fill key positions if needed someday. The “emergency” plan, as you can probably guess from the name, comprises temporary measures to keep your business running smoothly. Some questions to help you start pulling a plan together: Now, who exactly are you talking about and what do they do? In other words, find the positions where you must have a warm body. CEO? Finance? Department heads? Specialists? How crucial is the position to your company and what skills does someone have to have to do the job? This helps you figure out how training (including on-the-job training) and development fits into your overall plan.  Does everything that worked years ago in your business still work that way? No? Your succession plan’s the same way – especially if (as we all hope) your business grows and lasts for years and years. A final word That word is “emotions.” Don’t let them derail your plan.  Just because you love someone (like your kid) doesn’t mean they have what’s needed under the hood to run your company. Sure, they might. They might not, too – and don’t make that pick automatically.  Try to be objective. If you want to keep your kids and other relatives involved but you think they don’t have all the necessary chops, give them senior positions in your company under professional managers who can oversee the business.  A real-life example from a model of success: How about none other than Warren Buffett, who didn’t choose his children as big-chair successors at Berkshire Hathaway but instead just put them on the board.  Everybody won – and that’s all you can ask of your succession plan. We’re here to help with all your plans for the future. If you’re ready to talk it over, grab a time with us here: Patti (408) 241-4100  Gale 408-775-7800 Helping our clients in every possible way we can is ONeill & Bergado 101. In your corner, Patti ONeill and Gale Bergado(408) 241-4100ONeill & Bergado

Business Growth

Small Business Mentoring,San Francisco Bay Area Business,Business Mentorship,SMB Growth Support,

/

Did you know that about 20% of small businesses fail in their first year?  That’s a daunting statistic for anyone starting a new San Francisco Bay Area business.  And, even scarier, is the reality that companies with owners younger than 30 are even more likely to tank. The especially high failures of young owners indicate that inexperience coupled with the various functions required to OPERATE a business play a big part in a business closing its doors.  There really is no substitute for experience. But here’s the thing – the right mentor lets you tap into their experience … an older business vet to tell you the mistakes to avoid and ways to streamline a process that might have taken you years to figure out.  Mentoring is a time-tested method of business development that’s been used by superstars like Mark Zuckerberg and Steve Jobs. And you can make the same resource work for you, too.  Before I get into all of this though, a word. Demand for our services here at ONeill & Bergado is at an all-time high, and I want to be sure our best clients get seen properly.  So …. use this to get on our calendar ASAP:Patti (408) 241-4100  Gale 408-775-7800 and  Would you take a moment right now to leave ONeill & Bergado a review on Google?Make us smile with a review on Google In this very-online world, this stuff makes a massive difference. Really do appreciate you taking a few minutes of your valuable time to do that for us. Now … back to the small business mentoring thing. Small Business Mentoring For Your San Francisco Bay Area Business“Tell me and I forget, teach me and I may remember, involve me and I learn.” – Benjamin Franklin What can you learn from a mentor? Well, that really depends on the questions you ask.  How have they kept on going in their industry? What do they think is a good risk to take? What do they know now that they wish they’d known then?  You can also ask how to improve your networking and professional communication skills, be a better manager, find your professional strengths and play to them, and even how to educate yourself more about your profession.  So, what questions should you be prepared to answer? A good mentor will want to know what you’d like to achieve with your business in the near future and how you plan to hit your goals.  You can also learn how to charge more for your services. Business people have claimed that just three hours of mentoring has helped to boost their company’s profits. That alone is worth the price of small business mentoring  – a price that, aside from the work and will it’ll take you to learn, is usually free.  Where to look Finding a mentor for your San Francisco Bay Area small business isn’t as hard as you might think. Put together a list of business people you know and fill it out with those you’re just acquainted with. Social media can be useful for this – and don’t forget to ask coworkers and colleagues if the fit seems right. You can also find a mentor using online services – in these days of Zoom conferences there’s no reason your mentor even has to be in the same city as you.  Have you considered returning to school to improve yourself professionally? That environment’s great for networking with potential mentors. Also check SCORE, a resource partner of the U.S. Small Business Administration. They specialize in hooking volunteer mentors up with companies like yours and have 10,000 volunteers providing free mentoring nationwide. They’ve also got a page where you can search for a mentor. Before you ask just somebody to be your mentor, ask yourself what you look to get out of the connection. What are the top business goals that you want help with? More customers? Better networking?  Once you’ve found someone, set up a few preliminary conversations to get to know each other, to see if your careers and outlooks align. If you seem to click and would like to speak more regularly, ask if they’d consider mentoring you.Suggest a frequency to meet, that you’ll bring an agenda and that the meeting can be however and wherever is convenient for them.  That “consider” gives them time to think about it. You want serious thought to be behind their answer. What to watch out for with small business mentoring This all sounds terrific – what could go wrong? Well, a couple of things.  First, of course, is having the meetings: Everybody’s got jam-packed schedules which can make scheduling difficult. And this is a voluntary arrangement for both of you. Slot meetings at least a few weeks out and commit to that schedule.  If over time you find too many meetings are getting pushed, you may have to re-think this person as your mentor. You also don’t want to over-schedule in the beginning – this just burns both of you out.  You also don’t want to come to depend too heavily on your mentor – and the mentor is never to take advantage of the arrangement. If for instance, they start asking you to do their work for them, run for the nearest exit.  Don’t be afraid to go through a couple of people before you find the mentor who’s right for you. They could soon become one of the best resources for your small business.  In the area of all things tax and financial … well, we’d love to play this role for you. If we haven’t (yet) discussed exactly what that could and should look like, get on our calendar. We have options.Patti (408) 241-4100  Gale 408-775-7800 But a good San Francisco Bay Area business owner has more than one advisor and mentor. I’m happy to make other recommendations if you want them and be a guide where I can be. Always in your corner, Patti ONeill and Gale Bergado(408) 241-4100ONeill & Bergado

You have been successfully Subscribed! Ops! Something went wrong, please try again.
Facebook-f Instagram X-twitter
Facebook-f Instagram X-twitter

Business Services

Blogs

Individual Services

About Us

Contact Us

Snap Advisory Inc

6830 Via del Oro Ste 220 San Jose, CA 95119

Get Directions

(408) 241-4100

Contact Details

  • (408) 241-4100
  • Example@gmail.com
  • Snap Advisory Inc 6830 Via del Oro Ste 220 San Jose, CA 95119

Our Most Requested Services

Business Services

Individual Services

Quick Links

Home

About Us

Blogs

Importaint Link

Schedule Appointment

© 2025 Snap Advisory IncAll rights reserved.

Scroll to Top