1. Research local resources that are 1. Help beneficiaries decide what type of available to help beneficiaries with business they should pursue. business planning, feasibility studies, financing, accounting systems and 2. Determine whether or not a beneficiary bookkeeping, tax is capable of starting and managing a planning/preparation, and setting up business. corporations/LLC, etc. 3. Provide direct assistance with writing, 2. Provide specific information and editing or critiquing business referral services to help beneficiaries connect with local sources of 4. Share information with beneficiaries on business expertise and assistance. any legal or tax issues related to 3. Help beneficiaries understand the business establishment or management. business plan requirements inherent 5. Give advice to beneficiaries on sources in the PASS program reviewing of business financing beyond work – business plans and providing general incentives related to public benefits. feedback about whether PASS CWICs do not assist with preparing requirements are met or not. financing requests or loan applications. 4. Advise beneficiaries about the impact 6. Perform feasibility studies or of various business structures assessments. CWICs are not qualified to (corporations, LLC, sole evaluate the viability of a business proprietorship, etc.) on public concept. benefits. 7. Prepare financial statements for the 5. Advise beneficiaries on the impact of business such as break-even analysis, accounting methods (accrual vs. cash) cash flow analysis, or income/expense on public benefits. statements. 6. Help beneficiaries understand how to 8. Provide business analysis, consultation include work incentive payments in and problem solving services to increase business financial statements. profitability. Following is an explanation of the CWIC’s role in some of the most common areas related to the business domain:
1. Research local resources that are available to help beneficiaries with business planning, feasibility studies, financing, accounting systems and bookkeeping, tax planning/preparation, and setting up corporations/LLC, etc. 2. Provide specific information and referral services to help beneficiaries connect with local sources of business expertise and assistance. 3. Help beneficiaries understand the business plan requirements inherent in the PASS program – reviewing business plans and providing general feedback about whether PASS requirements are met or not. 4. Advise beneficiaries about the impact of various business structures (corporations, LLC, sole proprietorship, etc.) on public benefits. 5. Advise beneficiaries on the impact of accounting methods (accrual vs. cash) on public benefits. 6. Help beneficiaries understand how to include work incentive payments in business financial statements. 1. Help beneficiaries decide what type of business they should pursue. 2. Determine whether or not a beneficiary is capable of starting and managing a business. 3. Provide direct assistance with writing, editing or critiquing business 4. Share information with beneficiaries on any legal or tax issues related to business establishment or management. 5. Give advice to beneficiaries on sources of business financing beyond work incentives related to public benefits. CWICs do not assist with preparing financing requests or loan applications. 6. Perform feasibility studies or assessments. CWICs are not qualified to evaluate the viability of a business concept. 7. Prepare financial statements for the business such as break-even analysis, cash flow analysis, or income/expense statements. 8. Provide business analysis, consultation and problem solving services to increase profitability. Following is an explanation of the CWIC’s role in some of the most common areas related to the business domain:
Self%2DEmployment%20and%20Social%20Security%20Disability%20Benefits.docx