Brenda M. Orlando, C.P.A./A.B.V./C.F.F

Survivng Difficult Economic Times

• Watch Receivables and extend credit carefully.
• Negotiate Discounts - everyone from professionals to credit card companies are competing for your business right now.
• Look carefully at discretionary expenses, cell phone plans, utilities, supplies.
• Think Cash Flow.
• Remember who the benefactors are in a challenging economy and who still spending money--discounters, bankruptcy attorneys, government. What can your company provide to them?
• Maintain good credit. Pay bills on time.
• Check in with customers regularly, who haven't you heard from this week?
• Adjust your expectations temporarily and watch over exposure to the media.
• Remember that things are going to get better, and every economic down turn in history, even the great depression has been followed by many years of prosperity and economic expansion.
• There are some good things happening --personal savings rates are up and people are paying down debt.
• If you own a business, make sure that good internal controls are in place. Employee fraud and white collar crime are on the rise.

Post Divorce Checklist:

Here of some of the items that will need your attention once your judgment of divorce has been entered:

____Change Name on Drivers License, Social Security   Administration, Banks and Creditors if applicable.

___Change wills and trust documents

____Close Joint Bank Accounts

____Open New Checking and Savings Accounts

____Order Checks

____Close Joint Credit Cards

____Open New Credit Cards

____Make changes to auto insurance policies or obtain auto insurance

____Make changes to home owners or renters insurance policies or obtain insurance

_____Change Beneficiaries on Life Insurance Policies, bank accounts and retirement accounts.

_____Roll over IRA's, 401K, or other retirement plans