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The Role of Financial Projections in Securing Business Funding

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  When you’re looking to secure funding for your business—whether it’s a loan, investment, or grant—one of the first things investors and lenders will want to see is your financial projections. These projections are your business’s financial roadmap, showing where you’re headed and how you plan to get there. If done right, they could be the key to unlocking the funding you need to turn your big dreams into reality. In this blog, we’ll explore the importance of financial forecasts in securing business funding. Why Financial Projections Matter They Help You Build Trust:  Investors and lenders want to know that you have a solid understanding of your business and its future. When you show them thoughtful prospective financial statements, you’re telling them you know where you’re going and how you will get there. You’re not just winging it—you’re prepared. Financial projections show you mean business, and that’s precisely what funders want to see. They Prove Your Business Can Thriv...
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NAVIGATING THE COMPLEXITIES OF MULTI-STATE TAXATION

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  Running a business across multiple states? While exciting, that also means dealing with a web of different tax laws. From sales tax rules to income tax requirements, multi-state taxation can quickly become overwhelming if you’re unprepared. At Draffin Tucker, we help businesses like yours cut through the red tape and stay compliant without unnecessary headaches. In this blog, we’ll explore what you need to know about handling taxes across state lines. WHY MULTI-STATE TAXATION MATTERS Each state plays by its own rules when it comes to taxes. If your business operates in multiple states, you could be responsible for: Income Tax Nexus : If you have a physical presence, employees, or even significant sales in another state, you might owe state income tax. Sales Tax Compliance : Selling products or services in multiple states? You may need to collect and remit sales tax based on each state’s rules. Payroll & Employment Taxes : Do you have remote employees ? Expanding your...
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WHAT’S THE DIFFERENCE BETWEEN AN AUDIT, A REVIEW, & A COMPILATION?

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  When it comes to financial reporting, not all services are created equal. If you’re a business owner, nonprofit leader, or financial officer, you’ve likely heard the terms audit, review, and compilation tossed around, especially when applying for a loan, preparing for a board meeting, or meeting regulatory requirements. But what exactly do these terms mean, and which one is right for your situation? At Draffin Tucker, we often help clients navigate this very question with a full range of resources. Understanding the differences between these assurance services  isn’t just helpful but essential for making the right financial decisions and staying compliant. In this blog, our Charleston accounting and tax team will explore each service so you can feel confident about what your business needs. WHAT IS AN AUDIT? An audit is the highest level of assurance a CPA can provide. It’s a thorough examination of your financial statements, conducted in accordance with generally ...
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