Use benchmarking to swim with the big fish

You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper. Even if you’re a big fish in your pond, someone a little bigger may be swimming up just beneath you. Being successful means not just being aware of these competitors, but also knowing [...]

By | 2018-02-14T16:11:50+00:00 February 14th, 2018|Business|0 Comments

Turning employee ideas into profitable results

Many businesses train employees how to do their jobs and only their jobs. But amazing things can happen when you also teach staff members to actively involve themselves in a profitability process — that is, an ongoing, idea-generating system aimed at adding value to your company’s bottom line. Let’s take a closer look [...]

By | 2018-02-07T19:17:47+00:00 February 7th, 2018|Business|0 Comments

Unlock hidden cash from your balance sheet

Need cash in a hurry? Here’s how business owners can look to their financial statements to improve cash flow. Receivables Many businesses turn first to their receivables when trying to drum up extra cash. For example, you could take a carrot-and-stick approach to your accounts receivable — offering early bird discounts to new [...]

By | 2018-01-31T11:32:23+00:00 January 31st, 2018|Accounting, Auditing|Comments Off on Unlock hidden cash from your balance sheet

Have you taken state estate taxes into account?

The Tax Cuts and Jobs Act has doubled the federal gift and estate tax exemption, with inflation-adjustments projected to raise it to $11.18 million for 2018.This means federal estate taxes are a concern for fewer families, at least in the short term. (The doubled exemption expires December 31, 2025.) But it’s important to [...]

By | 2018-01-24T10:29:59+00:00 January 24th, 2018|Estate Planning|Comments Off on Have you taken state estate taxes into account?

How financial statements can be used to value private businesses

Owners of private businesses often wonder: How much is my business interest worth? Financial statements are a logical starting point for answering this question. Here’s an overview of how financial statements can serve as the basis for value under the cost, income and market approaches. Cost approach Because the balance sheet identifies a [...]

By | 2018-01-17T16:54:57+00:00 January 17th, 2018|Accounting, Auditing|Comments Off on How financial statements can be used to value private businesses

Don’t be a victim of tax identity theft: File your 2017 return early

The IRS has just announced that it will begin accepting 2017 income tax returns on January 29. You may be more concerned about the April 17 filing deadline, or even the extended deadline of October 15 (if you file for an extension by April 17). After all, why go through the hassle of [...]

By | 2018-01-10T12:16:47+00:00 January 10th, 2018|Tax|Comments Off on Don’t be a victim of tax identity theft: File your 2017 return early

Don’t let donor fatigue erode support for your nonprofit

After a flurry of year-end fundraising, you and your not-for-profit’s staff are probably ready for a little break. Your supporters may be tired, too. At some point, even the most philanthropic individuals experience donor fatigue and start saying “no” — even to their favorite charities. Here’s how to remain engaged with donors and [...]

By | 2018-01-04T11:52:20+00:00 January 4th, 2018|Not For Profit|Comments Off on Don’t let donor fatigue erode support for your nonprofit

Make budgeting part of your New Year’s resolution

It’s important to resist the temptation to rely on gut instinct or take shortcuts when budgeting for 2018. Creating a solid budget that’s based on the three components of your company’s financial statements will help you manage profits, cash flow and debt. 1. Income statement Start the budgeting process with your income statement: [...]

By | 2017-12-27T11:10:56+00:00 December 27th, 2017|Accounting|Comments Off on Make budgeting part of your New Year’s resolution

How to conduct a year-end risk assessment

Auditors assess their clients’ risk factors when planning for next year’s financial statement audit. Likewise, proactive managers assess risks at year end. A so-called “SWOT” analysis can help frame that assessment. Typically presented as a matrix, this analysis of strengths, weaknesses, opportunities and threats provides a logical framework for understanding how a business [...]

By | 2017-12-20T10:11:47+00:00 December 20th, 2017|Auditing|Comments Off on How to conduct a year-end risk assessment

2018 Q1 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing [...]

By | 2017-12-15T10:31:20+00:00 December 15th, 2017|Business, Tax|Comments Off on 2018 Q1 tax calendar: Key deadlines for businesses and other employers
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