Business Solutions

Welcome to Business Solutions Center where you can find answers, ideas and best practices for running your CNC Shop. In the Business Solutions Center Gosiger will offer unique and effective solutions to help power your business.

Select a topic to read more expert advice:

Finance Advice

Should You Offer A 401(k) Plan To Your Employees?

Apr 28, 2017 10:29:00 AM

Posted by Gosiger on Apr 28, 2017 10:29:00 AM

There’s no question that finding good employees for your CNC shop is challenging – as is holding onto them. Employees leave companies for a variety of reasons including uncertainty about their financial futures, particularly their ability to someday retire comfortably. One way to relieve this concern is to establish a 401 (k) plan. The IRS has specific guidelines for such plans, but in general here’s how they work:

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Topics: Finances, Management

5 Things to Consider When Buying An Existing Business

Mar 10, 2017 11:59:00 AM

Posted by Gosiger on Mar 10, 2017 11:59:00 AM

Let’s say you’re a CNC shop owner looking for new ways to compliment your existing business. Or, perhaps, you have an itch to add a new business to your portfolio. In either case you can start from scratch, or acquire an existing enterprise.

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Topics: Finances, Management

What Does Insurance Have To Do With Succession Planning?

Dec 9, 2016 10:38:00 AM

Posted by Gosiger on Dec 9, 2016 10:38:00 AM

Succession Planning Question 6: What about insurance and buy-sell agreements?

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Topics: Finances, Succession Planning

How to be Sure Your Financial Statements Will Help You Sell Your Business

Nov 11, 2016 9:57:00 AM

Posted by Gosiger on Nov 11, 2016 9:57:00 AM

Succession Planning Question 5: How sound are your financial statements?

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Topics: Finances, Succession Planning

How Much is Your Business Worth?

Sep 16, 2016 12:00:00 PM

Posted by Gosiger on Sep 16, 2016 12:00:00 PM

Succession Planning Question 3: How much is your business worth?

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Topics: Finances, Succession Planning

Boost Productivity by Leveraging New, Higher Section 179 Caps

Sep 9, 2016 3:47:07 PM

Posted by Gosiger on Sep 9, 2016 3:47:07 PM

In the past few years, businesses waited all year long to find out if Congress would increase the standard 179 deduction limited from $25,000 to a larger amount. This made it difficult to plan significant year-end purchases—often leaving buyers scrambling to negotiate deals and take delivery in the midst of the holiday break.

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Topics: Finances

5 Ways to Improve Cash Flow

Jun 10, 2016 11:00:00 AM

Posted by Gosiger on Jun 10, 2016 11:00:00 AM

When you run a CNC machine shop there’s always a lot on your plate. You deal with employee issues, job deadlines, working with suppliers and, of course, keeping the pipeline filled with work.

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Topics: Finances

How You Can Write Off $500,000 in Manufacturing Equipment Purchases This Year

Feb 5, 2016 10:00:00 AM

Posted by Gosiger on Feb 5, 2016 10:00:00 AM

As has become its pattern, the United States Congress waited until the 11th hour of 2015 to approve the Section 179 deduction of business equipment for 2016. The good news is that this means you can write off up to $500,000 of manufacturing equipment put into service by December 31, 2016. Had this legislation failed to pass and be signed into law by the President, the 179 deduction limit would have been capped at $25,000.

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Topics: Finances

7 Tax Planning Tips for CNC Machine Shops

Mar 6, 2015 11:30:00 AM

Posted by Gosiger on Mar 6, 2015 11:30:00 AM

As the new Congress takes shape there will likely be a number of tax issues that will be impacted by legislation. Like it or not, new tax laws and extensions or curtailments of existing programs may affect your manufacturing business. It’s best to keep in close contact with your trusted tax advisor as you move into 2015. Here are 7 important areas to keep an eye on:

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Topics: Finances

7 Ways to Deal with Poor Cash Flow

Feb 20, 2015 10:00:00 AM

Posted by Gosiger on Feb 20, 2015 10:00:00 AM

We’ve all been there: That big order was suddenly postponed or canceled. Even our best paying customers take their sweet time sending the check. An unexpected expense drained our cash reserves. Whatever the cause, slow cash flow keeps us up at night.

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Topics: Finances