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During these uncertain times, many people are unsure about how the financial markets will play out and are left not knowing how their personal and business finances will be affected. Our affiliate, Roosevelt Investments, put together a comprehensive guide featuring seven financial planning opportunities to consider in light of recent financial market volatility. In general, this guide can help you navigate and identify which opportunities may be helpful to you. To view these opportunities, click the button below. As we are learning to navigate through these times of uncertainty and adjust to our new normal, we here are at The Foresight Companies want to be your go-to source for all topics related to your business operations. Please visit our COVID-19 Business Operations Resource Center frequently for updates. *Please note that as information is updated and modified, terms and conditions are subject to change. Wealth […]

On Friday, March 26th the Paycheck Protection Program (“PPP”), one of the key stimulus provisions of  the COVID-19 economic recovery initiative was signed into law.  The SBA has further clarified details of the program. PPP is still a key program that we believe will work well for your funeral homes and cemeteries. We recommend you contact your current banking relationship immediately. Links have been provided at the bottom of this document for the SBA Paycheck Protection Program Application Form as well as the Paycheck Protection Program Information Sheet: Borrowers. Application Timeline Starting Friday, April 3rd – small businesses and sole proprietorships can apply Starting Friday April 10th – independent contractors and self-employed individuals can apply The loan application process will remain open until June 3oth, but it will be on a first-come-first-served basis Where Should I Apply You can apply […]

It is important that you develop a business recapitalization plan to help your business prepare for reduced cash flow by doing the following: Build a 13-week cash flow statement Negotiate with your lenders or new lenders Evaluate whether or not you should recapitalize your business Seek alternative and junior capital sources Business Liquidity Assessment Begin by assessing the following variables related to your cash flow so you can understand your business’s working capital situation: Determine the amount of cash, including accounts receivable you know you will collect, that is immediately available to you. Forecast your cash burn rate, which is the amount of money your business spends, for a month. Determine how much debt you have and your ability to meet all your financial obligations. Debt Covenants The US Department of the Treasury and the Federal Reserve are currently assessing […]

There are many programs that the government has provided to assist you if you’ve experienced business disruption as a result of COVID-19.  We can help you decide if and what programs you might benefit from the most. Understand your cash flow needs so you have a broad picture of your business’s ability to fund its obligations during the next quarter and during the next year: Determine the amount of cash, including accounts receivable you know you will collect, that is available to you. Determine your overhead obligations over the next quarter and the next year, including all operating costs. Determine what you expect your revenue to be over the next quarter and the next year, considering different scenarios that may affect your business. Know where you can access the capital you will need: Government Assistance Programs SBA 7(a) loan program […]

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allows taxpayers to defer paying the employer portion of Social Security taxes through the end of 2020, with all 2020 deferred amounts due in two equal installments, one at the end of 2021, the other at the end of 2022: Employers can defer payment for the employer portion of payroll taxes incurred between the date the CARES Act is enacted, March 27, 2020 through December 31, 2020. If deferred, the employer would instead pay 50% of this amount by December 31, 2021, and the remaining 50% by December 31, 2022.  The eligible payroll taxes are the employer’s portion of Social Security taxes (6.2%). Payroll taxes are shouldered by workers and employers: Each pays 6.2% toward Social Security and 1.45% toward Medicare. Employers are still on the hook for paying the 1.45% of wages that goes toward funding […]