UCC Filings: What Business Owners Should Know

by Ed Lette

Business Bank of Texas

Ed Lette is a Founder of Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

Federal law has a large section of interstate commerce laws called the Uniform Commercial Code (UCC) which, among other things, provides for lenders to see what other lenders have secured as collateral for a business loan. Normally this is all collateral other than real estate. There are several forms within the UCC that business owners should understand because they affect their ability to secure future loans.

Topics: Operations, Featured, Management, The Corner Office, Articles, Accounting & Finance

Does Your Cash Flow Engine Spin or Sputter?

by Dwayne Kolly

Business Bank of Texas

Dwayne Kolly brings a wealth of financial management and operations experience to Business Bank of Texas. Kolly has served community banks in south and central Texas for nearly 30 years, and is the bank’s CEO and Chief Financial Officer. He is a graduate of the Southwestern Graduate School of Banking at SMU (1993).

The cash flow cycle in a business can be a lot like the workings of a four-cycle engine. Before an engine can produce any power, it must first consume energy. The fuel mixture must first be compressed in the cylinder. Similarly, a business needs an input of capital and labor before it can produce any profits.

Topics: Featured, Bank Customer Tips

Business Bank of Texas Launches Public Funds Investment Program

by Ivonne Villegas

Business Bank of Texas

Ivonne has an extensive background in financial services operations, support, and sales. Her areas of responsibility include cash management, online banking, deposits, and merchant services. With experience that includes online cash management support, positive pay, ACH, and remote deposit services, she provides the responsive and personalized support that Business Bank of Texas customers have come to expect. As a bonus, she has extensive international business experience and is fluent in Spanish. Before coming to Business Bank of Texas, Ivonne worked for over 12 years at CoBank, ACB, a national cooperative bank serving vital industries across rural America.

Many municipalities face challenges when depositing funds due to the Texas Public Investment Act. To ensure that public funds remain safe, the Act places restrictions on how government entities invest their money. Cities, counties, school districts, municipal utility districts (MUD), special districts, river basin authorities, hospital districts, and emergency service districts (ESD) are all subject to these regulations.

Topics: Featured, Bank Customer Tips, Content Type

The Challenge of Investing in New Technology

by Dave Sather

Sather Financial Group

Dave Sather is a CERTIFIED FINANCIAL PLANNER and President of the Sather Financial Group, Inc. Sather Financial Group is a $400 million “fee-only” wealth management firm based in Victoria. Sather Financial is ranked as one of the top independent wealth management firms in the country according to Financial Advisor Magazine. Dave was raised in El Paso, received his B.A. in Business Management from Texas Lutheran University and received his M.B.A. from Texas A&M University. He has spent the past twenty years in the financial analysis, investment and banking industries. Dave is an adjunct professor in the business program at Texas Lutheran University. Additionally, Dave is a director of Business Bank of Texas as well as the Chairman of the Finance and Investments Committee for the Brownson Children’s Home and is a member of the Executive Advisory Council at Texas Lutheran University. He resides in Victoria, Texas.

Dave Sather's Money Matters

Last summer we penned an article outlining concerns over GoPro—the super action camera/video company which had just brought itself public. At the time, the demand for the stock was red hot sending its price from the low 30s in late June to more than $93 per share by the end of September.

Topics: Featured, Accounting & Finance, Content Type

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Company Minutes - Documenting Important Decisions

by Kathy Tremmel

Tremmel Law

Kathy Tremmel has significant experience both as a business attorney and corporate executive. Her career spans both legal practice and business management and she opened her own solo law practice in January 2010. In additional to running her own practice, she also is of Counsel with Selman, Munser & Lerner, which is a business transaction law firm in Austin, Texas. Ms. Tremmel has more than 10 years’ experience as a business attorney, providing transactional legal services to a diverse client base, from start-up ventures to well established companies. She helps companies with all their contracts, including customer agreements, non-compete agreements, employment agreements, buy-sell agreements, loans, and leases, helps people set up new businesses, and represents buyers and sellers of businesses. In addition, Ms. Tremmel has 10 years of management experience working with start-up companies. As VP of Operations at Tusker Group, an international litigation support company, Ms. Tremmel led international teams, managed production and quality issues, handled price negotiations, worked closely with clients to determine the scope of their projects, provided project management services, and developed, implemented and documented best practices for processing and training. Ms. Tremmel earned a Doctor of Jurisprudence from the University of Colorado School of Law and a Bachelor of Arts from Dartmouth College. She is a Texas licensed attorney and a certified Project Management Professional.

Corporations and LLCs are required to keep their minute books up to date. Document important business decisions on an on-going basis. Oftentimes, this can be handled by a unanimous written consent signed by the business owners rather than holding an actual meeting.

Topics: Featured, Legal, Content Type

Navigating Office Politics: 6 Strategies for Success

by Kay Oder

Insperity

Kay Oder has owned six companies, has been a resource to thousands to businesses and brought solutions to help business owners minimize risk, improve business performance and navigate today’s highly regulated and complex “business of being an employer”.

Today, Kay uses the insights gained throughout her career as a speaker, business owner and business advisor. Audiences enjoy her candid, informed perspective on HR related topics as well as her razor-sharp southern wit.

Kay is also a Certified Business Performance Advisor with Insperity, the $2.6 billion business performance solutions provider she has called home since 1993. Kay has consistently been among the company’s top producers during her 20 plus years with the organization, earning Insperity’s highest honors, including the Top Volume, Circle of Excellence and the Chairman’s Club awards.

Prior to Insperity, Kay was the President and Co-founder of Texas Valve Specialists, a supplier in the oil and gas industry. She has also owned companies in the construction, demolition, machining and promotional apparel arenas. She spent four years as a client of Insperity and upon selling her last venture, joined the Insperity team.

From an early age Kay demonstrated an entrepreneurial spirit, beginning at age six when she sold cantaloupes from her parents’ front yard, which she offered three for fifty-cents, with a free puppy.

Kay and her husband, Dale, relocated to Austin from the Houston area in 1996 when a theft occurred in their family: their granddaughter was born and stole their hearts, so they had to follow.

Insperity, a trusted advisor to America’s best businesses for more than 30 years, provides an array of human resources and business solutions designed to help improve business performance. Insperity® Business Performance Advisors offer the most comprehensive suite of products and services available in the marketplace. Insperity delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity through its premier Workforce Optimization® solution. Additional company offerings include Human Capital Management, Payroll Services, Time and Attendance, Performance Management, Organizational Planning, Recruiting Services, Employment Screening, Financial Services, Expense Management, Retirement Services and Insurance Services. Insperity business performance solutions support more than 100,000 businesses with over 2 million employees. With 2016 revenues of $2.9 billion, Insperity operates in 61 offices throughout the United States. For more information, call 800-465-3800 or visit www.insperity.com.

When it comes to workplace dynamics, most employees would likely agree that office politics can play a significant role within the company. Everyone is competing for special recognition or a big promotion, and many will do whatever it takes to achieve it. This self-serving mentality is often at the core of office politics, and as much as employers and employees alike want to avoid them, these nuances are a fundamental part of any organization.

Topics: Featured, Human Resources, Content Type

How to put financial forecasting to work in your business this year

by Philip Campbell

Consultant, Author

Philip Campbell is a CPA, consultant, and author of the book A Quick Start Guide to Financial Forecasting: Discover the Secret to Driving Growth, Profitability, and Cash Flow Higher. This new book provides a straightforward, easy-to-understand guide to one of the most powerful financial tools in business: a reliable financial forecast. He is also the author of the book Never Run Out of Cash: The 10 Cash Flow Rules You Can’t Afford to Ignore. The book is a step-by-step guide for business owners and managers who want to better understand and manage their cash flow. Since 1990, Philip has served as a financial officer in a number of growing companies with revenues ranging from $5,000,000 million to over $1,000,000,000. He has been involved in the acquisition or sale of 33 companies (and counting) as well as an IPO on the New York Stock Exchange. Philip loves helping entrepreneurs and business owners think strategically about the financial side of their business. His consulting work is focused on providing the financial insights that leaders need to increase profits, improve cash flow, and enjoy the fruits of financial success in business. What really sets Philip apart from the average financial person you meet is his passion and excitement about helping entrepreneurs and CEOs take control of their cash flow. In fact, early on in his career, he focused and “preached” so much about the importance of cash flow that people now call him CASH. Philip is the founder of Financial Rhythm, a website devoted to people who are serious about creating financial health, wealth, and freedom in their business. If you're an entrepreneur or business owner, Financial Rhythm is a place to get simple, actionable strategies for creating a financial future that is bigger and brighter than your past. Philip lives in Austin, Texas. You can email Philip at pcampbell@pdq.net.

The start of the New Year is the ideal time to implement one of the most powerful financial management tools in business: a reliable financial forecast. It’s a tool designed to help you answer questions like:

Topics: Featured, Accounting & Finance

Tax Increase Prevention Act of 2014

by Robert Herbst

Fisher, Herbst & Kemble, P.C. CPA

Robert M. Herbst, CPA, Managing Shareholder, is a graduate of Texas A&M University and holds a Bachelor of Business Administration degree in Accounting. Mr. Herbst is a Certified Public Accountant and is a member of the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants. Prior to joining the Firm in 1990, Mr. Herbst worked for the international public accounting firm of Ernst & Young for 10 years and held various positions in their tax and assurance department. Mr. Herbst directs the Firm’s tax practice which includes federal and state tax compliance and planning for individuals, partnerships (including family limited partnerships), corporations (including limited liability companies) trusts, estates, private foundations (operating and non-operating) and tax exempt organizations. In addition, Mr. Herbst works with the Firm’s assurance division to coordinate all tax matters for clients that are under audit, review and/or compilation.

As you may have heard, Congress recently passed, and the President signed into law, the Tax Increase Prevention Act of 2014. This extended many popular tax provisions that significantly impact individuals and businesses. This legislation renews, at least for tax year 2014, a retroactive extension of business and individual tax provisions that expired at the end of 2013, and comes just before taxpayers and the IRS gear up for the 2015 tax filing season.

Topics: Featured, Accounting & Finance

Securing Large Deposits

by Dwayne Kolly

Business Bank of Texas

Dwayne Kolly brings a wealth of financial management and operations experience to Business Bank of Texas. Kolly has served community banks in south and central Texas for nearly 30 years, and is the bank’s CEO and Chief Financial Officer. He is a graduate of the Southwestern Graduate School of Banking at SMU (1993).

Should you put your money into a TBTF (TBTC) SIFI or into TGTR with CDARS and ICS? Let me take you on a swim through alphabet soup to find the answer.

Topics: Featured, Bank Customer Tips, Content Type

How to Drive Financial Performance with the A-3 Targets Exercise

by Philip Campbell

Consultant, Author

Philip Campbell is a CPA, consultant, and author of the book A Quick Start Guide to Financial Forecasting: Discover the Secret to Driving Growth, Profitability, and Cash Flow Higher. This new book provides a straightforward, easy-to-understand guide to one of the most powerful financial tools in business: a reliable financial forecast. He is also the author of the book Never Run Out of Cash: The 10 Cash Flow Rules You Can’t Afford to Ignore. The book is a step-by-step guide for business owners and managers who want to better understand and manage their cash flow. Since 1990, Philip has served as a financial officer in a number of growing companies with revenues ranging from $5,000,000 million to over $1,000,000,000. He has been involved in the acquisition or sale of 33 companies (and counting) as well as an IPO on the New York Stock Exchange. Philip loves helping entrepreneurs and business owners think strategically about the financial side of their business. His consulting work is focused on providing the financial insights that leaders need to increase profits, improve cash flow, and enjoy the fruits of financial success in business. What really sets Philip apart from the average financial person you meet is his passion and excitement about helping entrepreneurs and CEOs take control of their cash flow. In fact, early on in his career, he focused and “preached” so much about the importance of cash flow that people now call him CASH. Philip is the founder of Financial Rhythm, a website devoted to people who are serious about creating financial health, wealth, and freedom in their business. If you're an entrepreneur or business owner, Financial Rhythm is a place to get simple, actionable strategies for creating a financial future that is bigger and brighter than your past. Philip lives in Austin, Texas. You can email Philip at pcampbell@pdq.net.

It’s hard to get what you want in life if you haven’t taken the time to figure out what you really want. The same thing applies in business. You need to clearly define exactly what you want to accomplish financially in order to be successful in business.

Topics: Featured, Accounting & Finance

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