New York, March 17, 2020: The Federal Reserve Board announced today that it will establish a Commercial Paper Funding Facility (CPFF) to support the flow of credit to households and businesses. Commercial paper markets directly finance a wide range of economic activity, supplying credit and funding for auto loans and mortgages as well as liquidity to meet the operational needs of a range of companies.
By ensuring the smooth functioning of this market, particularly in times of strain, the Federal Reserve is providing credit that will support families, businesses, and jobs across the economy. The CPFF will provide a liquidity backstop to U.S. issuers of commercial paper through a special purpose vehicle (SPV) that will purchase unsecured and asset-backed commercial paper rated A1/P1 (as of March 17, 2020) directly from eligible companies.
The CPFF program is established by the Federal Reserve under the authority of Section 13(3) of the Federal Reserve Act, with approval of the Treasury Secretary. Continue reading →
Trusting your business or personal finances with someone you don’t know can be challenging. At Jon Bell, CPA LLC, we understand the difficulties behind choosing the right Albuquerque CPA for you or your business, which is why we offer a free initial consultation. This allows you to get to know us and us to get to know your business – so we can build a long-term professional relationship.
Give us a call today at 505-385-3535 or 505-341-9204 to schedule your free initial consultation. We look forward to speaking with you. Jon Bell, CPA, MACCT, founded his tax and accounting practice in 2010 based on the same core ideals and principles of his family department store – Bell’s Store Inc that operated in Santa Fe, NM for nearly 60 years. “You’re somebody special at Bell’s” still rings true today with all of Jon’s clients.
Professional Background: Before starting his firm, Jon worked for one year as a corporate tax accountant for Thornburg Inc. in Santa Fe and was responsible for the preparation of financial statements and tax returns for the corporation and its principal shareholders. Jon also spent three years with Atkinson and Company as an accountant in the firm’s tax and audit departments and five years as a tax preparer at HR Block.
Prior to his career in accounting, Jon founded and operated Air Award Exchange, an online broker of frequent flier miles and airline awards which served clients nationwide. He also spent six years as a table games dealer at Isleta Casino, and nine years as a Buyer and Manager for Dillard’s Department Stores Inc.
Having prepared tax returns for 12 years and from running a successful small business, Jon fully understands the complexities of small business and taxation issues. He has prepared tax returns of complicated subchapter s-corporations, limited liability companies (LLCs), and partnerships. He has also prepared complex individual returns including those containing oil and gas interests, significant real estate holdings, net operating losses, and foreign source income. Jon also has experience preparing tax returns for retirees, new homeowners, trusts, and non-profit entities.
Education: Jon holds a bachelor’s degree in General Management (BBA) and a master’s degree in Accounting (MACCT) from the University of New Mexico in Albuquerque, New Mexico.
Professional Affiliations: He is a licensed Certified Public Accountant (CPA) in the state of New Mexico. Jon is a member of the National Society of Accountants, and the New Mexico Society of CPAs.
Community Involvement: Jon is the Treasurer for the Jewish Federation of New Mexico. While attending the University of New Mexico, Jon served as the President of Hillel.
Family: Jon has been married to Sherry Bell, for ten years. They are the proud parents of their two precious boys, Alec and Aaron. Jon takes pride in being a 3rd generation New Mexican, having been born and raised in Santa Fe, New Mexico. Jon’s parents Irving and Marilyn Bell, and immigrant grandparents Morris and Ethyl Bell, owned and operated Bell’s Department Store just off the plaza in downtown Santa Fe until its untimely closing in 1984. In his spare time Jon enjoys skiing in the high-country of NM, playing tennis and golf, and is an avid fan of the Cincinnati Bengals. Taina Benjamin – Office Administrator
Taina is originally from San Francisco, though she also lived in Southern California, Tampa, New Orleans, and Chicago before joining her husband in the Land of Enchantment in the summer of 2015. She received her bachelor’s degree in Mathematics from the University of South Florida and most recently worked as an Operations Manager for the Chicago Architecture Foundation. When she’s not playing with the newest member of the Benjamin family (a puppy), she’s planning her next big overseas adventure. Testimonial:
“My wife and I run a small business and Jon helped us out with getting our bookkeeping records up to date as well as helping us with our returns. Before I used to use TurboTax but didn’t realize I wasn’t getting a full refund. Jon helped me to collect over $2K on returns from past years.”
-Timothy E., Bernalillo, NM Address:
1303 Rio Grande Blvd NW
Albuquerque, NM 87104
Today’s suppliers can’t wait for customers’ cash to come through before buying raw material, firing up the assembly line or loading up the cargo container. Financing is required every step of the way. Everyone depends on a steady and reliable stream of capital to keep the machines running.
But some companies in the chain may have an easier time accessing capital than others. A well established U.S. buyer might access a bank credit line at 1-2 percent per annum, while its smaller Chinese or Vietnamese supplier may be fortunate to get credit at 8-10 percent per annum. This disparity adds to costs and often affects the financial stability of valued suppliers. One solution is vendor financing, in which a buyer helps a supplier get credit at the buyer’s lower rate. In exchange, the supplier may agree to wait longer for payment. Continue reading →