{"id":145,"date":"2020-03-25T14:53:38","date_gmt":"2020-03-25T14:53:38","guid":{"rendered":"https:\/\/www.sz-cpas.com\/blog\/?p=145"},"modified":"2020-03-27T02:04:30","modified_gmt":"2020-03-27T02:04:30","slug":"next-phase-cashflow-covid-19","status":"publish","type":"post","link":"https:\/\/sasserath.vglmarketing.pro\/index.php\/2020\/03\/25\/next-phase-cashflow-covid-19\/","title":{"rendered":"Next Phase: Cashflow & COVID-19"},"content":{"rendered":"

By\u00a0Alan R. Sasserath<\/a>, CPA, MS<\/strong><\/p>\n

Over the last week, some of you received two emails from me with the subject \u201cThe Next Phase.\u201d For those of you that didn\u2019t receive those emails, please click the link here<\/a>.\u00a0You can see how our messaging is becoming more and more clear as the economic challenges surrounding the COVID-19 virus have gotten more serious.\u00a0This email is no different.<\/p>\n

One of the topics discussed in the emails was the importance of cashflow<\/strong>.\u00a0Most of my conversations with clients today have been about – cashflow.\u00a0I cannot stress enough how critical it is that tough, cost cutting decisions be made NOW, and you put yourself in a position to get through what we believe will be a huge cash crisis in the coming weeks.\u00a0Many of you know me and know that I am not an alarmist.\u00a0I am sounding the alarm here, because I don\u2019t believe that everyone is taking this seriously enough.\u00a0I think people, in general, believe this is serious, but I don\u2019t see the action I would expect in all cases.<\/p>\n

We, like many others, are waiting for the Federal Stimulus Package (\u201cStimulus Package\u201d) to come through.\u00a0When it does, we have people on our team ready to rip it apart, understand it and figure out how to get it working for our clients.\u00a0We have already gone through our client list and started sorting the typical data needed for loan packages to be ready if\/when there is a loan provision in the Stimulus Package.\u00a0Just like we have already been working to apply for SBA Disaster Loans for many of our clients, we expect to do the same under the Stimulus Package. That assumes a loan program comes through in the package as has been discussed.<\/p>\n

You cannot count on the Stimulus Package to bail you out.\u00a0You must act now.\u00a0Once the Stimulus bill passes the Senate, it will get reconciled with the House bill and then onto the President for signature.\u00a0That will probably take another 24-48 hours from Senate approval.<\/p>\n

Once it is signed into law, how long does it take to get those dollars deployed into the economy and does that happen quick enough for it to make a difference to you?\u00a0I don\u2019t know the answer to that and neither do you.\u00a0My point is that you need to take control of your cashflow situation now.\u00a0If I am wrong and they can deploy the cash in record time, then I can live with that.\u00a0I cannot live with being put out of business because I didn\u2019t take action on the tough issues that I didn\u2019t want to attack head-on.<\/p>\n

Let us know how we can help.\u00a0If you aren\u2019t preparing a loan package for the SBA Disaster program or putting together the information required with most loan packages for the expected loan program with the Stimulus Package (three years of business tax return, three years of personal tax returns, personal financial statement, etc.), there is a good chance that you should be.<\/p>\n

We are all in this together.\u00a0We are here for you.\u00a0We will get through this together.<\/strong><\/p>\n

Thank you for your time.<\/p>\n","protected":false},"excerpt":{"rendered":"

By\u00a0Alan R. Sasserath, CPA, MS Over the last week, some of you received two emails from me with the subject \u201cThe Next Phase.\u201d For those of you that didn\u2019t receive those emails, please click the link here.\u00a0You can see how our messaging is becoming more and more clear as the economic challenges surrounding the COVID-19 […]<\/p>\n","protected":false},"author":2,"featured_media":146,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[32],"acf":[],"_links":{"self":[{"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/posts\/145"}],"collection":[{"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/comments?post=145"}],"version-history":[{"count":3,"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/posts\/145\/revisions"}],"predecessor-version":[{"id":156,"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/posts\/145\/revisions\/156"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/media\/146"}],"wp:attachment":[{"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/media?parent=145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/categories?post=145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sasserath.vglmarketing.pro\/index.php\/wp-json\/wp\/v2\/tags?post=145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}