As a part of our pro-active relationship with our business clients, we periodically comment on issues we believe will have an effect on your business.

The Booming Economy and Your Credit Extension Policies

Current forecasts appear to indicate a potential slowing of the economy in the next four to six quarters. In certain industries, because of the Asian crisis, this impact has already begun.

Regardless of the forecasts, we believe this is a good time for all businesses to review their credit extension policies. In the recent expansion of the economy, many companies have unknowingly loosened their credit policies. This may have occurred through increasing credit limits as a result of business growth with current customers, or new customers gaining excessive credit due to the expansion of your business.

We recommend you review your credit extension policies now to determine they are in line with your business expectations. We would be happy to assist you in this analysis or provide you insight into how other businesses are dealing with this issue.

New Hire Reporting

Beginning October 1, 1998, you must report all new hires to their state within twenty days of hire. This is a result of the federal government trying to keep track of individuals who do not make their child support payments.

If you use a payroll service, they should take care of this for you. If you do not use a payroll service and need information on how to report this information, please contact us for a complementary New Hire reporting packet.

EFTPS Filing Status

The timeframe for enrolling in the electronic funds transfer program for payment of payroll and other taxes has been delayed again until June 30, 1999. We strongly recommend all businesses with employees enroll in this program as soon as possible. Let us know if you have not previously enrolled in this program and need help in getting properly enrolled.

Please call or email Bob Rebar or Bob Hanson if you would like to discuss any of these issues or review your credit extension policies.

Rebar & Associates is uniquely qualified as your business advisor. We believe it is better to plan for the future than to just let it happen. It's Just Good Business!