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Article Compliments of Euler Hermes
Business owners and financial executives must continuously balance the cost of doing business with the risk of doing business. Each time a dollar of revenue is produced, all costs of generating that dollar have been thoroughly analyzed in an effort to maximize the profit margin, including costs associated with accounts receivable management. However, the hundreds of billions of dollars in losses associated with bad debt charge-offs in recent years have brought new attention to managing trade receivables from a risk perspective.
Accounts receivable, which typically represent more than 40% of a company’s assets, are naturally a vital component of a healthy business. If a major customer is unable to pay its obligations, or if several customers are unable to pay …
Continue Reading "Trade Credit Insurance. Something to Consider."
Posted by Mission Valley Bank in Getting Things Done, You & Your Money. Leave a Comment
You may have heard or read in the news recently that an increasing number of banks across the country are experiencing attacks on their websites called a Distributed Denial of Service – or DDoS – attacks. While Mission Valley Bank has not been among the banks affected, we wanted to take this opportunity to share a little information regarding what a DDoS is and how it could affect you.
A DDoS attack occurs when a bank’s website is intentionally flooded with an extremely high volume of electronic traffic. This flood of traffic simply crowds out legitimate customers trying to use the bank’s website. While these attacks can significantly slow down (even temporarily disable) a bank’s website, they have not involved any form of data breach. …
Continue Reading "What is a DDoS Attack and How Might it Affect You?"
Posted by Mission Valley Bank in E-Mail and Internet Fraud, Security, Your Online Safety. Leave a Comment
by Janet Shinkle
Even in today’s tough economy, there are some great options available to qualified companies that can make a huge impact on getting the flow back into your cash position. When you will actually receive the cash you need to run and grow your business is an important consideration.
As our economy has changed, so have financing options. More and more financially sound small to mid-sized businesses are finding Accounts Receivable (AR) Financing to be a great tool to help manage cash flow and grow their business. Today, many qualified borrowers are choosing AR Financing over more traditional forms of credit available to them because of the unique benefits this type of financing provides.…
Continue Reading "The Cash is There…Really"
Posted by Mission Valley Bank in Getting Things Done, You & Your Money. Leave a Comment
Researchers from the University of Virginia have found people can lose 5x more belly fat by doing three shorter, fast-paced walks per week and two longer, moderate-paced walks (compared to people who simply walk at a moderate pace for 5 days a week). While the number of calories for both methods was the same, researchers found power walkers were able to shed more fat. For walkers out there trying to stay in shape, consider that Harvard also summarized 26 different studies and found people who wear a pedometer will walk at least 2,000 more steps each day than those who do not. It just goes to show that if you set your goals and measure them, you will keep moving forward step by step.
When …
Continue Reading "TAKING STEPS TO IMPROVE COMPANY & PROJECT HEALTH"
Posted by Mission Valley Bank in Client & Community Education, Getting Things Done. Leave a Comment
From time to time, it can make sense to do some work around your house or remodel. Since most of us are interested in getting a good return, we found research by Remodeling Magazine interesting. It itemizes the estimated ROI for various common home remodeling projects. In order, the biggest bang for the buck when remodeling comes from replacing an entry door (73%), followed by a minor kitchen remodel (72%); deck addition (70%); replacing a window (68%); basement (67%); major kitchen remodel (66%); bathroom (62%) and a roofing replacement (58%). If you are going to do any work on your home this year, we thought you might like to know where to spend your time to improve your return.
This same thought process can be …
Continue Reading "The ROI of Marginal Analysis & Scenarios"
Posted by Mission Valley Bank in Client & Community Education, Getting Things Done. Leave a Comment
Bank statements, credit card bills, canceled checks and other documents can be useful for tax purposes, as proof of a transaction or payment, or for other reasons. But how long should you keep them?
There is no hard and fast rule as to when it’s safe to throw away financial documents. One thing to remember, though, is that federal tax rules require you to have receipts and other records that support items on your tax return for as long as the IRS can assess you additional tax. Basically, the IRS has about six years to assess additional tax if you underreported your income by more than 25 percent. Many tax advisors recommend holding all tax records for about seven years, allowing extra time for any …
Continue Reading "FINANCIAL RECORDS. WHAT TO TOSS & WHEN"
Posted by Mission Valley Bank in Client & Community Education, Getting Things Done. Leave a Comment
From The Banc Investment Daily, 01/08/13
Depending on your age you might be thinking of retirement at some point. That is one reason we found a survey by employee Benefit Research Institute interesting. It found 37% of workers say they expect to retire after age 65 and yet, the median age of retirement since 1991 has remained about 62. Despite all the hype around 401(k)’s becoming 201(k)’s given the recession, that is an odd situation, so what gives? The study found about 50% of people are forced into retirement for various reasons that include health problems (51%); layoffs or company closure (21%); caring for a family member (19%); or not having the skills to do the job anymore (11%). No matter the economic picture, …
Continue Reading "ANALYZING THE UNEMPLOYMENT RATE AND THE FOMC:"
Posted by Mission Valley Bank in You & Your Money. Leave a Comment
Courtesy of the Tax Professionals — Gumbiner Savett Inc.
On January 1, 2013, the nation’s roller-coaster ride over the fiscal cliff with the expiration of the Bush era tax cuts was narrowly averted when Congress passed the American Taxpayer Relief Act (‘ATRA’) of 2012 (H.R. 8). This bill now goes to the President for signature before becoming enacted. The President signed the bill on January 2.
ATRA permanently extends a number of the 2001, 2003 and 2009 tax relief provisions for many individuals and business that had already expired at the end of 2011 and 2012. Some tax provisions, however, are extended only temporarily.
The following is a brief summary of the ATRA tax provisions: …
Continue Reading "New Tax Changes for 2013 – Fiscal Cliff Averted"
Posted by Mission Valley Bank in You & Your Money. Leave a Comment
It’s that time of year — the time to ring out the old and ring in the new, to ditch bad habits and replace them with good ones. We can’t guarantee you’ll lose weight, or become a better human being, but we can give you a few reminders to help you whip your finances into shape:
1. Save and invest. Don’t underestimate your ability to save and invest. With compound interest, even modest investments now can grow over time.
2. Lighten your credit load. Paying off high-interest debt may be your best investment strategy. Few investments pay off as well, or with less risk than, eliminating high-interest debt on credit cards or other loans.
3. Boost your “rainy-day” fund. Many experts recommend keeping about six …
Continue Reading "A Few Reminders for a FISCALLY FIT New Year"
Posted by Mission Valley Bank in Client & Community Education, Getting Things Done. Leave a Comment
While large firms may have sophisticated technology and staff dedicated to thwarting crime, many small businesses don’t — and scammers know this. Here are ways to protect yourself:
Be on guard against inside jobs. This includes employee theft or misuse of cash, merchandise or equipment as well as fraud. “Minimize risks through steps such as pre-employment background checks, automated inventory tracking systems, audits, and clearly outlined policies for personal use of computers and other business equipment,” said Luke W. Reynolds, Chief of the FDIC’s Outreach and Program Development Section. “Also, carefully select who handles revenue from customers, pays the bills and reviews account statements. And, ensure that there are procedures in place to detect and deter fraud.”…
Continue Reading "Frauds Target Small Businesses: Don’t Be a Victim"
Posted by Mission Valley Bank in Client & Community Education, Security, You & Your Money. Leave a Comment
While the holiday season may be a time of practicing long-standing traditions, the way we shop for the holidays has evolved over the past decade with the advent of Internet shopping. While the adventure of standing in line during the pre-dawn hours for Black Friday sales is appealing to some, may we offer some tips for a more civilized (if less exciting) approach to holiday shopping from the comfort of your warm home?
Black Friday was long known as the official first day of the holiday shopping season as people waited for Thanksgiving to pass before moving on to Christmas. With the proliferation of online retailers growing every year for the past decade, Cyber Monday became another icon of the holiday shopping experience. Cyber Monday, …
Continue Reading "Online Shopping Tips"
Posted by Mission Valley Bank in Your Online Safety. Leave a Comment
As the shortest days of the year approach, we have the inevitable diversion of the holiday season to distract us until the days begin to gradually lengthen. Whether you celebrate Christmas, Hanukkah, Kwanza or the general holiday season chances are you’ll be spending money on things that are outside your regular budget. Here are some tips for spending smart.…
Continue Reading "Holiday Budgeting"
Posted by Mission Valley Bank in You & Your Money. Leave a Comment
Before devouring your Thanksgiving turkey this year, consider these fun turkey facts:
- Male turkeys (toms) gobble; female turkeys (hens) cluck.
- The fleshy growth under a turkey’s throat is called a wattle. Turkeys also have a long, red, fleshy area that grows from the forehead over the bill called a snood.
- Wild turkeys can fly for short distances up to 55 miles per hour. They can run as fast as 20 miles per hour. Commercially raised turkeys cannot fly.
- More than 45 million turkeys are cooked and 525 million pounds of turkey are eaten during Thanksgiving.
- 90% of American homes eat turkey on Thanksgiving Day. 50% eat turkey on Christmas.
- North Carolina produces 61 million turkeys annually, more than any other state. Minnesota and Arkansas are
…
Continue Reading "Fun Turkey Facts:"
Posted by Mission Valley Bank in Client & Community Education. Leave a Comment
In response to recent announcements made by local area hospitals in the Santa Clarita Valley that blood supplies were running dangerously low, Mission Valley Bank hosted two Blood Drives – Friday, September 28th at the Centre Pointe Branch as well as Monday, October 1st at the Valencia Branch. More than 50 clients, MVB Team Members & generous community members turned out to roll up their sleeves, give a pint and save a life! For those able to donate blood, it is an easy way to have a real, positive impact on the community. Mission Valley Bank will be hosting another Blood Drive in January at the Sun Valley Headquarters Office.
Each donation has the capacity to save as many as 3 lives, while donated blood …
Continue Reading "Mission Valley Bank Clients & Staff Donate from the Heart!"
Posted by Mission Valley Bank in Community, Community Events & Happenings, MVB News. Leave a Comment
