On Tuesday, December 3, 2024, a federal district court in Texas issued an order granting a nationwide, preliminary injunction that does the following: If the preliminary injunction remains in effect: What does this mean for…
Effective January 1, 2024, a substantial number of businesses are required to comply with the Corporate Transparency Act (“CTA”). The CTA requires the disclosure of the beneficial ownership information (“BOI”) of certain entities from people…
Jay Lohman, the Founder & President of Lohman Company has announced his retirement. In true testament of his leadership, Jay chose to align his retirement with the company’s 25th anniversary milestone this year, to honor…
In an awards ceremony that took place Dec. 14, 2023, the Phoenix Business Journal recognized Lohman Company as one of the top ten “2023 Best Places to Work” in the Small Business Category, a distinction…
If you’ve been thinking about ways to save on medical expenses, now may be the perfect time to open a Health Savings Account (HSA). Thanks to persistent inflation, the IRS recently announced historic bumps to…
The idea of starting your own business is inherently romantic, if not exhilarating: You get to run the show, flesh out your ideas, and live your dream. But where do you begin? Here are seven…
Natural language processing (NLP) is a technology that allows computers to understand and process human language. Processing of natural language is necessary when you want an intelligent device to follow your instructions. NPL is an…
There has been updated guidance on how and when tax filers must file and report Form 1099-K, Payment Card, and Third-Party Network Transactions in 2022 and 2023. According to the December IRS release, new income…
When it comes to defining an impaired asset, its fair market value is worth less than the original cost of the asset – or more formally, its carrying value. As a company re-evaluates its assets’…
So, we’re a month into 2023 and the sheen might’ve dulled from all your shiny, New Year’s resolutions. Though diet and exercise are the top things you might want to change, there’s one you might…
Technology advancement has brought about great digital transformation. Unfortunately, this has come with a global tech talent shortage. IT executives highlight the shortage as a huge barrier to the adoption of emerging technologies, as reported…
By 2021, there were 20,000 warehouses in the United States and growing, according to the United States Bureau of Labor Statistics (BLS). With more warehouses expected to pop up in 2022 and beyond, one important…
On August 7, the U.S. Senate voted to pass the Inflation Reduction Act (IRA). The enormous bill—clocking in at 725 pages—contains a wide range of provisions and comes with a nearly $750 billion price tag.…
Today, businesses have to grapple with vast amounts of data from different sources, including emails, mailing lists, customer orders, system logs, mobile apps, social media networks, etc. This data is crucial to businesses in various…
Starting June 1, the Fed began reducing its balance sheet holdings of U.S. Treasuries by $30 billion a month for three months. Thereafter, it will double its reduction of U.S. Treasuries by $60 billion per…
This article explains the importance of keeping your estate plan up to date, especially since people are living longer and need more options in their documented life. Three sections in your estate plan that should…
Lohman Company, PLLC is pleased to announce they have placed #1 on this year’s Ranking Arizona’s “The Best of Arizona Business 2022 Accounting Firms” with 6 to 30 CPAs. It is the third consecutive year…
This article discusses a variety of trends that small businesses should either be focusing on or not as we continue along in 2022. For example, this link lists shipping status, waiting for the new normal,…
Lohman Company, PLLC has been a member of Integra International since 2005. As a member, we receive their monthly, “Audit & Accounting Alert Newsletter” that we would like to share with you. This newsletter is a great…
According to research by Family Enterprise Foundation, younger generation owners are the most committed to preserving the family business. A survey found that “97 percent of next-generation respondents consider it important to sustain the family…
This link offers a comprehensive breakdown of the small business industry as it stands in 2022. For example, graphs displaying emerging trends, the effect of the pandemic, and hiring numbers are all included. Small businesses…
This article explains how shoplifters are stealing thousands of dollars from big and small retailers, and how the smaller retailers are handling the situation. Derek Friedman, a small business owner, says that since 2019 shoplifting…
In this article, a survey was conducted by Oracle NetSuite to get insights from numerous executives about the importance of each role and their communications skills. The survey “polled small and midsize company leadership in…
This article discusses how many start-up businesses eventually fail, but by utilizing the eight strategies outlined in this link, you will give your start-up business the best chance possible at succeeding and even flourishing. For…
This article discusses how running a small business can be a difficult task, especially when managing your most important asset, the employees. However, by following tips such as upgrading your onboarding checklist software, rewarding employees…
This article explains how hiring family members can have their strengths and weaknesses. It is much easier to hire a family member rather than a stranger because each person can usually be reliable and dependent…
This article explains the best money-saving methods for travelers hitting the road this summer. All 50 US states have hit the $4 per gallon mark, and the national average is currently at $4.59. According to…
This article explains the significant benefits that startups in 2022 receive when using R&D tax credits. For companies to qualify for R&D tax credits, their ideas must be a new or improved business component for…
This article explains some tax-avoiding strategies that the IRS will be flagging down. Some strategies include “concealing assets in offshore accounts and improper reporting of digital assets, non-filing of income tax returns by high-income individuals,…
This article explains that the Biden Administration has proposed a federal gas tax holiday in order to help US citizens with the current gasoline prices. Unfortunately, Patrick De Haan, head of petroleum analysis at GasBuddy,…
This article explains that bonus depreciation rules have been changed over several years. In 2016 and 2017, under the IRS Revenue Proclamation (Rev. Proc.) 2019-33, Section 5.02 Section – Deemed Election states: “a taxpayer that…
This article explains that the current state of the economy and the Covid-19 pandemic has drastically changed the way consumers behave. It’s extremely important for small businesses to capitalize on digital transformations. A Bill.com survey…
This article explains the precautions to take when getting a divorce, and several tax concerns that need to be addressed to ensure that taxes are kept to a minimum and important tax-related decisions are properly…
One of the perennial fears of taxpayers is getting audited by the IRS. Financially, few scenarios strike such fear into hearts. However, taxpayers can probably breathe a sigh of relief – at least for now.…
This article discusses three dysfunctions that are commonly seen throughout family businesses. Chris Yonker, the author of the article, says that following the steps of over-achievers can be a bad way to help ensure the…
This article explains why and how keeping money within the hands of the people you trust will help you in the future. Heirs could be responsible for “paying federal income taxes on either assets or…
Too often CEOs of a company will procrastinate the succession of their company to the next generation. This may happen since the idea of retiring from a business can be too difficult to embrace. Another…
Valeria Alterman and Ariane Froidevaux delve into research on various retirement options for small business owners. They look into their custom model of retirement decision options for small business owners to separate from their business,…
This article explains the new inflation adjustments that are being made by the IRS issued through Rev. Proc. 2021-45. The IRS also cautioned that “with legislation pending in Congress that might affect 2022 tax returns,…
This article explains why family businesses continue to generate 70-90% of global GDP annually. Ernst and Young reported that “the largest 500 family businesses constitute the third-largest economic contribution in the world by revenue and…
This article discusses how the coronavirus pandemic forced many employees to look towards their 401(k) plan in order to borrow cash for personal financial burdens. However. “About 47% of employees who took a retirement loan…
In this article Jolene Brown, a family business consultant points to four major mistakes when breaking down a family business. She firstly points out that assuming all genetic relationships equal good working relationships is wrong.…
This article demonstrates the possibilities a small business can pursue after receiving a valuation. A valuation can give small business owners benefits such as tracking progress and “a road map to deliberate decision making.” Some…
This article explains the importance of building your company’s online structure in a growing technological world. Technology is more powerful than ever challenging a business to restructure in new ways where it can sustain itself…
This article explains how the assets people own have become more complicated, making it a little more difficult to include everything in your will. Only about 46% of Americans have made provisions for how their…
This article discusses how there are two main strategies that individuals can take advantage of in order to lower their tax bills, deductions, and credits. While tax deductions lower your taxable income, tax credits are…
This article explains several scenarios where your child may be asking you for financial help. First, they may have taken many loans and want your help with EMIs. The author suggests turning the child to…
This article discusses the ins and outs of a tax strategy known as a cost segregation study, and in particular, for those that own a vacation rental real estate. When the property is leased out…
This article discusses how most companies today rely heavily on the Internet and other technology to operate. Although these tools are vital and can be useful, they also pose the threat of cybercrime. However, by…
This article discusses how the coronavirus pandemic accelerated many trends that we see today in the workplace. Specifically for start-ups, it is important to take advantage of these trends to stay competitive. For example, trends…
This article discusses how 2022 is a viable year for most small businesses as they continue to rebound from the coronavirus pandemic. A recent report shows that attracting new customers is the top challenge for…
This article explains the challenges that businesses face when dealing with remote workers. Mobility managers may face numerous tasks, including understanding complex and evolving rules for tax, immigration, and other legal purposes. Mobility managers also…
This article discusses how fraud is one of the most concerning topics for start-ups and small businesses alike due to the highly digitalized world that we live in today. It is so prevalent that “organizations…
This article discusses the definition of work management and how it differs from project management. Specifically, work management “is the oversight and supervision of all individual and team tasks and task lists within one project…
This article discusses how the coronavirus pandemic has shifted the way many industries are conducted on a day-to-day basis. Specifically, teleworking has become the new norm, and it is important to have proper procedures in…
This article discusses the business strategy of time clock rounding in order to ease payroll calculation and prevent employee time theft. With many employees still working from home, these practices are important to review frequently.…
This article discusses how many businesses felt a significant negative impact due to the coronavirus pandemic this past year. Although most of the setbacks were unavoidable, it is important to do everything in our power…
This article acknowledges and discusses how running a family business can be difficult at times. From balancing a family work-life balance to communication issues, this industry can be very challenging. However, by following tips such…
This article discusses how many startup firms are having similar problems in marketing and getting their new ideas out there. Whether your startup is 5 years old or 5 days, utilizing tips such as email…
This article discusses how businesses are starting to return to the workplace following the relaxing of COVID-19 regulations. However, this process may be more difficult than anticipated. This article outlines three steps to consider when…
This article discusses how the IRS released guidance explaining deductions on food and beverage within a restaurant. There was a temporary 100% deduction which was “designed to help restaurants, many of which have been hard-hit…
This article discusses how there are many factors at play when a business gets bought or sold. Specifically, topics such as reoccurring revenue, why someone sells, buyers’ interests, evaluation criteria, and the 4 P’s (People,…
This article discusses the sad reality of how fewer than 1/3 of family businesses are successively handed down to the second generation. However, utilizing the tips outlined in this article such as starting your succession…
On July 28, the U.S. Small Business Administration (SBA) released an update to the forgiveness process for the majority of Paycheck Protection Program (PPP) loans. The goal of the new guidance is to streamline the…
This article discusses how the coronavirus pandemic has impacted the way people are purchasing businesses and how business owners are selling. In fact, there’s been a rise in investment activity, and it is expected to…
Too often CEOs of a company will procrastinate the succession of their company to the next generation. This may happen since the idea of retiring from a business can be too difficult to embrace. Another…
This article discusses guidance on the Tax Cuts and Jobs Act pertaining to the general deduction of business entertainment expenses. Because of the guidance put out in 2020, “Taxpayers…must carefully follow the rules set out…
This article discusses the best methods to practice before selling your business to someone who values it as much as you do. Firstly, it is important to determine your business value. In order to successfully…
This article discusses how marketing is essential for any successful business, especially startups. However, sometimes the best marketing practices can be extremely expensive with little return on investment. However, using simple tips such as getting…
This article discusses the importance of having a succession plan. According to the Dayton Daily News, about 3 out of 4 small businesses currently do not have a succession plan. Succession plans should not be…
This article discusses both the importance of a good leader in any small business as well as the requirement that the business is productive. To help you decide what is important to understand, members of…
This article discusses an important topic that all small business owners should consider as it occurs every single day. In the past, credit card transactions required a signature in order to help authenticate the purchase.…
This article discusses how under previous law, deductions for business meals were limited to 50% of the cost, but through the pandemic, that deduction was doubled to 100% for the time being if the meal…
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (CAA2021), which includes $892 billion in coronavirus stimulus spending. This long-awaited and highly contested piece of legislation ties coronavirus relief funding…
As a follow-up to our communication on December 3 regarding key provisions of the Paycheck Protection Program (PPP) and loan forgiveness, we are writing to inform you of significant changes to the PPP included in…
On Wednesday, January 6, the U.S. Small Business Administration (SBA) and the Treasury issued joint guidance regarding the latest updates to the Paycheck Protection Program (PPP), as amended by the recent COVID-19 relief bill. A…
This article discusses how the COVID-19 pandemic has changed the landscape on which most small businesses operate. However, trends such as digital footprint, virtual efficiency, workplace culture, and customer reviews are all set to be…
On November 18, the Internal Revenue Service (IRS) released Revenue Ruling 2020-27 and Revenue Procedure 2020-51. The two releases offer clarification regarding the non-deductibility of expenses that contribute to the forgiveness of loans from the…
The original Coronavirus Aid, Relief and Economic Security Act (CARES Act) signed into law on March 27, 2020 did not allow employers to both obtain a Paycheck Protection Program (PPP) loan and claim the Employee…
This article acknowledges and discusses the portrayal that the media gives us of family businesses. Although this industry operates on the more risky side, the owners of family businesses possess a unique decision making power.…
This article outlines and then continues to dive into detail about seven marketing tips for your start-up business. As a start-up, funds can be limited, but tips such as solidifying your brand, staying true to…
This article discusses and addresses the uncertain times that businesses are living through right now due to the coronavirus pandemic. With the passing of the Paycheck Protection Program, there are many things to consider when…
This article dives deep into the concept of business identity theft, as well as preventive measures that you can take in order to reduce the potential fallout. For example, one piece of advice is to…
This article discusses how important family businesses are to the economy of the United States. However, “70% of family businesses last just one generation before they either fail or are sold.” Succession planning can be…
This article discusses some of the key changes the Biden administration is making to the application process of the paycheck protection program. Specifically, Monday started a two-week period in which only businesses that have less…
This article discusses how the Small Business Administration has made significant changes when comparing the first round of the Paycheck Protection Program (PPP) and the most recent program. Specifically, the SBA stated that “The changes…
The American Rescue Plan Act (ARPA) was passed by the Senate on Saturday, March 6 and in the House on Wednesday, March 10. The $1.9 trillion relief bill was signed into law on Thursday, March…
For the second year in a row, the federal income tax filing due date for individuals has been postponed. The postponements come as a part of the fallout of the coronavirus pandemic and the legislation…
This article discusses and emphasizes the need for all businesses to be able to adapt and pivot in the right direction, especially during a crisis like the Coronavirus pandemic. Some tips that are outlined are…
The U.S. Small Business Administration (SBA) recently announced a major update to the COVID-19 Economic Injury Disaster Loan (EIDL) program. As of the week of April 6, 2021, the maximum loan amount for COVID-19 EIDLs…
This article discusses how the COVID-19 pandemic has resulted in low interest rates and depressed asset values, creating a very unique opportunity for estate planners. Specifically, this article outlines five different strategies to consider utilizing…
This article discusses and emphasizes the importance of having and implementing the most efficient debt collection process possible. Providing services to your client before payment is often a risky but necessary part of doing business.…
This article discusses and outlines seven different technology trends to watch within the small business industry. Specifically, these trends are designed to improve software, automation, and machinery functionality. Artificial intelligence-powered chatbots and CRM, streamlining HR…
In this time of uncertainty, knowing about and implementing some best practices within the industry can go along way in the health of your business. This article discusses four tips that you can take advantage…
Over the weekend, President Trump issued a series of executive actions. Three of the four memos aim at extending CARES Act provisions that have expired already or will expire soon. The fourth seeks to mimic…
This article discusses some accounting tips that your small business should consider following in order to become more efficient. There are many details business owners must consider, managing your accounting practices early on will allow…
This article discusses how the coronavirus pandemic is impacting a number of industries in multiple ways. Some of the trends include working from home, hiring based on technology skill set, and restaurants teaming up with…
On August 24, the Small Business Administration and Treasury made available a new set of guidance regarding the Paycheck Protection Program (PPP) forgiveness issues. The new interim final rule covers two areas: owner-employee compensation and…
On Friday, August 28, the Internal Revenue Service (IRS) released Notice 2020-65, which offers guidance regarding the implementation of the Presidential Memorandum on the deferment of some payroll taxes. The memorandum, which was released by…
This article discusses a rare opportunity that the Tax Cuts and Jobs Act have produced for investors in the United States. Long story short, this act is incentivizing investors to invest in distressed communities in…
This article discusses how the coronavirus pandemic has impacted the national economy, and in particular, family enterprises. However, being educated on emerging trends such as the rise of small cities, an increase in digitalization, and…
This article is aimed at helping small businesses grow in the right direction through the recruitment process. Some of the best practices outlined in this link are identifying what your vacant jobs entail, advertising, and…
This article discusses some of the best business practices that your business can partake in order to ensure or maintain results during this hard time. From knowing the weaknesses of your products to having a…
This article discusses how the coronavirus pandemic, and in particular, telecommuting, has raised a new set of problems for managers in terms of company fraud. Working from home has its benefits, but as a company…
The article discusses a recent publication from the IRS in response to multiple requests from stakeholders asking for guidance on self-certifications. Additionally, it outlines what is required within the report as well as the effective…
This article discusses how, although hiring a CPA for your small business comes with a cost, the pros may outweigh the cons in this situation. For example, hiring a CPA will allow you to save…
This article discusses the most recent announcement from the Federal Reserve Board. This is significant for small businesses because the minimum loan amount went from $250,000 to $100,000 on three Main Street loan facilities. Additionally,…
This article discusses how the coronavirus pandemic impacted many businesses in a negative way. Despite government funding programs such as the CARES Act and PPP Loan, many businesses are going to finish the year with…
This article discusses some of the best practices that you can incorporate into your startup or general business to keep adequate clients and customers surrounding your business. Whether it is superior customer service, being open…
On November 18, the Internal Revenue Service (IRS) released Revenue Ruling 2020-27 and Revenue Procedure 2020-51. The two releases offer clarification regarding the non-deductibility of expenses that contribute to the forgiveness of loans from the…
This article discusses the importance of being educated on the latest income tax brackets and trends to best optimize your hard-earned savings. Each year the IRS adjusts the tax brackets and knowing exactly which one…
Although outsourcing payroll is an effective approach, completing payroll in-house can save your business time and money. You may think that completing payroll is a daunting task, but following tips such as determining overtime pay,…
This article discusses some of the basics that you can capitalize on to ensure that the succession of your business is as easy and efficient as possible. For example, tips such as communicating early, defining…
Finding and retaining millennial talent will help small businesses compete with bigger businesses. This article discusses how small businesses can attract millennials, and why hiring millennials is the right move for small businesses. To view…
Finding and communicating with the right customer is a basic necessity for any small business. This article discusses tips you can use to find ideal customers and improve your marketing communications strategy. To view this…
Although family businesses boost the economy and make up more than fifty percent of the nation’s GDP, they struggle to survive past the second generation. This article discusses a few ways family businesses can thrive…
Cold-calling may seem out of date, but many small businesses rely on personal connections to get customers out of the cold calling stage and into prospective clients. This short article discusses the trick to a…
Family businesses can compete with other businesses who may have more capital, manpower, and resources that their disposal. This article discusses the advantages family businesses have, and how family businesses can use these advantages to…
Many organizations fail to understand the importance of creating a culture that is healthy and values results. This article discusses how you can gauge your organization’s health, and how to solicit change to your company’s…
The new trade agreement between the US, Canada, and Mexico will benefit small businesses. This article discusses what benefits small business owners can find in the new NAFTA. To view this article, click the following…
There is no question that positive customer experience directly correlates with your business’ success. This article discusses four things your business can do in order to provide outstanding customer experiences. To view this article, click…
Family business are full of ups and downs, and managing your family in a business setting can be difficult. This article discusses five tips you can use to make running your family business a little…
As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or…
This article discusses how the coronavirus has impacted the business world on a number of levels including raising questions around Goodwill and long-lived assets. Whether it is trying to sort through Goodwill testing or estimated…
As businesses attempt to get back on their feet post Covid-19, understanding programs that you may qualify for, such as the R&D tax credit, can help reestablish robust cash flow. This article outlines the ins…
On June 22, the U.S. Small Business Administration (SBA) released additional guidance regarding Paycheck Protection Program (PPP) loan forgiveness. A recent article from the Journal of Accountancy summarizes the information contained in the release. The…
This week, the Small Business Administration (SBA) and the U.S. Department of the Treasury released new information for recipients of loans through the Paycheck Protection Program (PPP). A recent article from the Journal of Accountancy…
Late last week, the United States Small Business Administration (SBA) released yet another round of guidance updates regarding the Paycheck Protection Program (PPP). The areas covered by this latest release are maturity dates and loan…
On Wednesday, July 1, the House agreed unanimously to an extension of the Paycheck Protection Program (PPP). The five-week extension originated in the Senate on Tuesday, where it was approved late in the evening. President…
Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As we venture past the peak of the pandemic,…
This article discusses how the coronavirus pandemic has impacted the way businesses operate on a day-to-day basis. One major difference the pandemic has resulted in is the increase in telecommuting. This article outlines some of…
The Main Street Lending Program is designed to help credit flow to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 crisis, but now need…
The Internal Revenue Service (IRS) recently announced finalized guidance regarding business interest expense limitations. In a helpful article from the Journal of Accountancy, author Sally Schreiber offers an overview of the new rules. Background The…
Rapid growth can be a dangerous time for businesses if not managed properly. This article discusses the importance of keeping your people engaged as your business grows. To view this article, click HERE to access…
The key to business success is the motivation and hard work of employees. This article discusses six unconventional initiatives companies should try to boost workplace motivation. To view this article, click HERE to access the…
A low unemployment rate means employees have options, and small businesses must find ways to retain employees. This article discusses four ways your small business can increase employee retention. To view this article, click HERE…
Small businesses rely on outsourcing as a cheaper alternative to hiring a full-time worker, but outsourcing can present a new set of challenges. This article discusses helpful tips you can use when hiring and managing…
Salespeople must be specific and give customers specific instructions when selling products. This article discusses the advantages of getting specific and making things clear for customers. To view this article, click HERE for original content.
Online marketplaces are creating a need for a new era of consumer transactions. This article discusses digital businesses, enhancing consumer experiences, and the problems of reaching the consumer directly. To view this article, click HERE…
Small business owners that do not have a finance or accounting background can still understand their business’s finances and move their companies in the right direction. This article discusses four tips for understanding profitable growth.…
As the number of cyber attacks increase, a cyber risk management program is necessary for businesses. This article discusses four ways your business can manage cyber risk. To view this article, click the following link…
Growth possibilities surround every business, and business leaders must not get complacent when it comes to strategic awareness. This article discusses ways to maintain strategic awareness. To view this article, click the following link to…
More social media engagement means more business, which is why business owners should look to increase their engagement levels in 2019. This article discusses seven tips for increasing social media engagement and traffic in 2019.…
More social media engagement means more business, which is why business owners should look to increase their engagement levels in 2019. This article discusses seven tips for increasing social media engagement and traffic in 2019.…
Hiring senior-level employees is a big organizational decision that will impact the future of your company. This article discusses what to keep in mind when recruiting someone for a senior-level position. To view this article,…
Social media plays an integral part in marketing, but marketers should be wary of the future social media marketing has for coming generations. This article discusses the rejection of some social media platforms, and what…
The economy, trade, local regulation, and consumer trends are among the many things that influence the family business industry. This article predicts five key trends that will influence the family business industry in 2019. To…
Companies are targeting Generation Z through personalized marketing strategies. This article discusses why personalization will drive marketing strategies for future consumers. To view this article, click the following link to access the original content. https://www.entrepreneur.com/article/326608
The government shutdown is creating problems for more than government businesses, as private businesses are also experiencing the consequences of a government shutdown. This article discusses potential consequences small business owners should be aware of.…
The Internal Revenue Services (IRS) recently released updated optional standard mileage rates for 2019. These rates are used to calculate the deductible cost of operating an automobile for business, charitable, medical, or moving purposes. The…
Family businesses are developing social missions to help the communities they serve. This article discusses how to incorporate a social mission into your family business, and the advantages and disadvantages of a social initiative. …
As a new calendar year begins, it is an important time for small business owners to analyze their priorities and focus on improving their business. This article discusses a few ways your small business can…
As the holidays approach, cybercriminals are looking for opportunities to exploit your employees and your business. This article discusses a few ways you can keep your business secure this holiday season. To view this article,…
On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes a wide range of business tax provisions, including a new credit for employers…
As part of the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act, direct economic recovery payments are being distributed to eligible American taxpayers. Distribution of recovery rebates began this week. If you are…
Businesses that have managed to secure financing through the Paycheck Protection Program (PPP) are fortunate—but also saddled with a lot of red tape. Business owners and managers should be careful that they adhere strictly to…
On Friday, April 24, President Trump signed the Paycheck Protection Program and Health Care Enhancement Act into law. The new aid bill boosting funding for various initiatives in response to the coronavirus pandemic was passed…
As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or…
You have probably read in the news about the backlash that some public companies have experienced as a result of accepting loans through the Paycheck Protection Program (PPP). As a result of the public outcry,…
On April 29, the Internal Revenue Service (IRS) released a large expansion of their FAQ on the Employee Retention Credit (ERC). The ERC was created as a part of the Coronavirus Aid, Relief, and Economic…
On Thursday, April 30, the IRS released Notice 2020-32. The announcement effectively disallows a tax deduction for any expenses that are paid with forgiven Paycheck Protection Program (PPP) loan proceeds. The PPP was created by…
On Friday, April 24, the Small Business Administration (SBA) released additional guidance regarding how various types of businesses should calculate the maximum Paycheck Protection Program (PPP) loan amount for which they qualify. The new SBA…
On May 3rd, the Small Business Administration (SBA) issued a new round of guidance regarding the Paycheck Protection Program (PPP). They addressed three issues for which business owners have requested clarification, including: The impact of…
As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or…
As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or…
On May 13, the Small Business Administration (SBA) issued additional guidance regarding the Paycheck Protection Program (PPP). They added a highly anticipated new question to their lengthy FAQ: “How will SBA review borrowers’ required good-faith…
As a result of the coronavirus pandemic, many more people than usual are working from home. Some of those new to work-from-home may be hoping to take advantage of home office tax deductions on their…
On Friday, May 15, the Small Business Administration (SBA) announced an important release for borrowers who received loans through the Paycheck Protection Program (PPP). The bureau made public a form and instructions for borrowers to…
Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As we venture past the peak of the pandemic,…
On May 22, the Small Business Administration (SBA), in conjunction with the U.S. Treasury, released additional guidance for recipients of loans through the Paycheck Protection Program (PPP). A recent article from the Journal of Accountancy…
On Wednesday night, the Senate voted unanimously in favor of the Paycheck Protection Flexibility Act. This new legislation makes key adjustments to the timeline for spending Paycheck Protection Program (PPP) funds and revises how loan…
On March 27, 2020, President Trump signed into law a sweeping $2.2 trillion stimulus package designed to abate the economic damages caused by the coronavirus (COVID-19) pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES)…
The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now. When implemented,…
The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. View Entire…
This form is to be completed by the Applicant and all individuals identified below and submitted to your SBA Participating Lender. Submission of the requested information is required to make a determination regarding eligibility for…
On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes an estimated $300 billion in direct payments to eligible American taxpayers. Below, we…
On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economics Security (CARES) Act. The historic $2.2 trillion stimulus bill includes a $349 billion paycheck protection program (PPP) that targets aid to small businesses…
On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes $10 billion in funding to provide emergency grants to small businesses and nonprofits…
Many business owners are dealing with a lot of worry stemming from the coronavirus pandemic. Among their many concerns is how to support their employees during this difficult time. A recent article from Forbes outlines…
As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national or…
As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national or…
On Thursday, April 2, the Internal Revenue Service (IRS) issued a warning concerning the development of new scams related to the coronavirus, particularly the recovery rebates legislated by the CARES Act. It is not surprising…
On April 14, the Small Business Administration (SBA) released new guidance regarding the Paycheck Protection Program (PPP), a $350 billion program that targets aid to small businesses dealing with losses resulting from the coronavirus pandemic.…
On Wednesday, April 15, the Internal Revenue Service (IRS) released an update regarding the delivery of economic impact payments to recipients of Supplemental Security Income (SSI). The IRS worked with the Treasury Department, the Social…
On April 14, the Governmental Accounting Standards Board (GASB) released a statement proposing the postponement of the effective dates of certain accounting and financial reporting requirements set to go into effect in the near future.…
On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes an expansion of the Small Business Administration’s (SBA) long-standing Economic Injury Disaster Loan…
On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes an allowance for penalty-free early withdrawals from retirement accounts. Below, we address some…
On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill contains a variety of provisions, including a deferment of payroll taxes for employers. Below,…
On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill contains a variety of modifications to key business tax provisions, such as regulations regarding…
On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economics Security (CARES) Act. The historic $2.2 trillion stimulus bill includes $454 billion to support Federal Reserve emergency lending facilities to help mid-sized businesses…
This article discusses how utilizing some best practices can go a long way when evaluating a business. Examining stock prices, assets, cash flow, and the surplus in debt, should be considered each and every time…
This article discusses how hard it is to ensure that your family business survives to the next generation. With the help of these best practices like setting boundaries, dividing roles and responsibilities, and treating family…
This article discusses some of the top things that you can do as a business owner in order to protect your business against fraud. From learning basic definitions to what a forensic accountant could do…
This article discusses how family business owners have to decide whether to sell their business or hand it down when they want to retire. Both sides have their advantages such as retirement funding and ensuring…
This article offers seven different tips that small business owners should be aware of as we enter the new year. From using data to shape your strategies to playing around with different content, these insights…
This article discusses 30 family business truths that may be hard to swallow but can change the way your business operates on a day to day basis. For example, a high trust culture can be…
Although intended for small business owners, this article discusses accounting mistakes that can hinder growth in your business no matter the size. First and foremost, failing to hire the right CPA can immediately put a…
This article highlights the work of Professor John Davis, who has been studying family enterprises and how they work since the 1970s. For example, he mentions how family businesses have natural strengths such as passion…
In the business world, there is a bar that individuals must meet or exceed in terms of customer service. No matter how difficult the customer may be, claiming yourself as a professional implies that you…
This article discusses what it is like to be in charge of making important decisions when it comes to day-to-day operations in a business. Topics such as risk tolerance, risk appetite, and insurance programs are…
This article discusses how the financial health of a small business is comprised of more than just the amount of sales. Taking a look at topics such as revenue, expenses, cash flow, and automation can…
This article discusses three different methods that one can use to value a business. For example, the asset approach, market approach, and income approach are all unique in their own way and could provide different…
At Lohman Company, the health and safety of our employees and our clients is of paramount importance. For this reason, we are taking specific precautions to protect our staff and visitors during the current outbreak…
There has been much speculation surrounding the impact of the Coronavirus (COVID-19) pandemic on the U.S. tax filing deadline. On Tuesday, March 17, 2020 at a White House briefing, Treasury Secretary Steven Mnuchin announced new…
On Friday, March 20, 2020, Secretary of the Treasury Steve Mnuchin released a statement that the federal tax filing deadline has moved in response to the ongoing coronavirus (COVID-19) pandemic. The new deadline of July…
There is a lot of scary stuff happening right now. Many are struggling to maintain good mental health in light of the Coronavirus pandemic. For some, the mental strain is exacerbated by the fact that…
For more than six decades, the U.S. Small Business Administration (SBA) has been a resource for small business owners and entrepreneurs in the U.S. In response to the COVID-19 pandemic, the bureau created a resource…
The U.S. Small Business Administration (SBA), which has been a resource for small business owners and entrepreneurs in the U.S. since 1953, recently released a list of disaster-relief measures in response to the COVID-19 pandemic.…
Many small businesses are reeling from the impact of the COVID-19 pandemic. Lohman Company is here to help. We have gathered a list of helpful resources for small businesses to turn to during this unprecedented…
From AZGovernor.gov, the latest Executive Order issued today by Governor Doug Ducey follows new guidance from the Centers for Disease Control and Prevention (CDC) and comes at the recommendation of public health officials who are…
Competing against big corporations is a challenge for small business owners, but focusing on a niche market can be a huge benefit for small businesses. This article discusses eleven advantages for small businesses and how…
Small business owners can facilitate successful growth with timing and the right data. This article discusses five ways for small businesses to accelerate growth. To view this article, click HERE to access the original content.
Early-stage businesses should focus on key qualities when hiring employees because a business’s success relies on the quality of these hires. This article discusses four top qualities to look for when hiring employees. To view…
Many business strategies focus on cost-cutting. However, these strategies can hurt branding, growth, and profits. This article discusses why marketers cannot cost-cut their way to growth. To view this article, click HERE to access the…
Managing data and information can be a major competitive advantage for small businesses. This article discusses why every small business should develop a data strategy. To view this article, click HERE to access the original…
In a world that is mostly living online in different social media platforms, it is important to remember what human to human interaction can do. This article discusses how entrepreneurs can look forward and make…
This article discusses points that can help on your way to a successful family business. From recognizing the advantages of family ownership to treating every family member equally, these tips are valid and should be…
This article discusses daily tips that may be valuable for any businessperson. Some of the tips include going slowly, spending more time on recruitment, and not doing it for the money. To view this article,…
This article discusses what SIP trunking is and how it could potentially help your business grow. SIP trunking is essentially the ability to make or receive phone calls over the internet as long as both…
A recession is not fun to think about, but it’s even less fun when a downturn hits and you’re not prepared. This article offers advice in two areas: what to do to prepare your business…
This article discusses how important culture can be in all aspects of a company. For example, “77% of adults polled would consider a company’s culture before applying for a job.” From understanding your current culture…
Do you find it hard to stay positive during your work day? This article discusses the importance of having a positive attitude in the workplace because it is contagious and can rub off on the…
This article discusses the major trends occurring in the general business world as we leave 2019 in the past and look to the future. It is important to be aware of these trends for the…
This article discusses the importance of addressing mental health in the workplace. According to this article, 1 out of 5 people suffer from some sort of mental health condition. Because this number is so high,…
This article discusses how the economy may be booming as we head into 2020, but that does not mean there will not be uncertainty along the way. It also offers five budgeting tips from emergency…
This article discusses the instant gratification that we seek when it comes to the business industry. We want to buy low and sell high as soon as we can, but that may not always be…
This article outlines the best practices that your business can take in order to increase growth. The best part is that none of them require more money! Whether it is billing faster or streamlining your…
This article discusses how marketing has changed over the years and what you can expect/need to know heading into the new year. Whether it is the use of A/B split testing or integrating AI to…
This article discusses the advantages of bookkeeping and doing it the right way for your business and your personal life. There are ways to do it without a CPA, but having an accountant on your…
This article discusses how technology is changing the way small businesses operate on a day to day basis. From working from home to social media marketing, these tech advancements are vital to staying up to…
Growth possibilities surround every business, and business leaders must not get complacent when it comes to strategic awareness. This article discusses ways to maintain strategic awareness. To view this article, click the following link to…
As the number of cyber attacks increase, a cyber risk management program is necessary for businesses. This article discusses four ways your business can manage cyber risk. To view this article, click the following link…
Small business owners that do not have a finance or accounting background can still understand their business’s finances and move their companies in the right direction. This article discusses four tips for understanding profitable growth.…
Online marketplaces are creating a need for a new era of consumer transactions. This article discusses digital businesses, enhancing consumer experiences, and the problems of reaching the consumer directly. To view this article, click HERE…
For the 15th consecutive year, we’re excited to announce that Lohman Company has been named to the Phoenix Business Journal’s Top 25 Accounting Firms list! “I truly consider being included on the Phoenix Business Journal’s…
The IRS recently released its annual list of the top 12 tax scams, updated for the 2019 filing season. The list includes a number of popular tax cons, with phishing and phone scams among the…
Salespeople must be specific and give customers specific instructions when selling products. This article discusses the advantages of getting specific and making things clear for customers. To view this article, click HERE for original content.
Small businesses rely on outsourcing as a cheaper alternative to hiring a full-time worker, but outsourcing can present a new set of challenges. This article discusses helpful tips you can use when hiring and managing…
A low unemployment rate means employees have options, and small businesses must find ways to retain employees. This article discusses four ways your small business can increase employee retention. To view this article, click HERE…
The key to business success is the motivation and hard work of employees. This article discusses six unconventional initiatives companies should try to boost workplace motivation. To view this article, click HERE to access the…
Rapid growth can be a dangerous time for businesses if not managed properly. This article discusses the importance of keeping your people engaged as your business grows. To view this article, click HERE to access…
The business world is relying on the Internet for exposure, and without a digital presence and a social media strategy, businesses are unlikely to reach their full potential. This article discusses the importance of an…
To see growth for your business, you must focus on creating a brand that will make a lasting impression with customers. This article discusses a few tips that you can use to strengthen your brand…
Business owners do not have to spend a large amount of money to improve a customer’s experience. This article discusses several key pathways for creating a connected relationship with consumers without increasing costs. To view…
While not common, boards can assist in succession planning for family businesses. This article discusses what type of boards have success, and what you should look for in independent directors. To view this article, click…
Developing a business strategy should always have the customer’s interest at the root. This article discusses the question every strategy should answer. Does it improve the way I create value for my customers? To view…
With the Tax Cuts and Jobs Act in full effect, small businesses can use overlooked tax deductions to save money. This article discusses several tax deductions small business owners may have overlooked. To view this…
Long-term success begins with the ability to implement strategic change. This article discusses why companies struggle to accelerate strategic change and how to tackle these problems. To view this article, click HERE to access the…
Ecommerce on social media platforms is booming, and business owners must fulfill orders effectively to stay successful. This article discusses a number of best practices to help with social commerce fulfillment. To view this article,…
Business owners should focus on business models to ensure their business finds success and increases profit and potential. This article discusses six business strategies that will help keep your business around for a long time. …
The IRS recently released Notice 2018-77, which details updated special per-diem rates, effective October 1, 2018 through September 30, 2019. These rates apply to the per-diem allowances paid by employers to their employees in order…
The new trade agreement between the US, Canada, and Mexico will benefit small businesses. This article discusses what benefits small business owners can find in the new NAFTA. To view this article, click the following…
Many organizations fail to understand the importance of creating a culture that is healthy and values results. This article discusses how you can gauge your organization’s health, and how to solicit change to your company’s…
Family businesses can compete with other businesses who may have more capital, manpower, and resources that their disposal. This article discusses the advantages family businesses have, and how family businesses can use these advantages to…
Cold-calling may seem out of date, but many small businesses rely on personal connections to get customers out of the cold calling stage and into prospective clients. This short article discusses the trick to a…
Although family businesses boost the economy and make up more than fifty percent of the nation’s GDP, they struggle to survive past the second generation. This article discusses a few ways family businesses can thrive…
Finding and communicating with the right customer is a basic necessity for any small business. This article discusses tips you can use to find ideal customers and improve your marketing communications strategy. To view this…
On June 21, 2018, the Supreme Court of the United States handed down a historic decision in the sales and use tax nexus case South Dakota v. Wayfair, Inc. The 5-4 ruling overturns physical presence standards…
Finding and retaining millennial talent will help small businesses compete with bigger businesses. This article discusses how small businesses can attract millennials, and why hiring millennials is the right move for small businesses. To view…
When it comes to selling a business, it’s never a bad thing to be too careful. In fact, according to Forbes’ contributor Richard Parker, 50 percent of business acquisitions fall apart during the “due diligence”…
As the holidays approach, cybercriminals are looking for opportunities to exploit your employees and your business. This article discusses a few ways you can keep your business secure this holiday season. To view this article,…
As a new calendar year begins, it is an important time for small business owners to analyze their priorities and focus on improving their business. This article discusses a few ways your small business can…
Family businesses are developing social missions to help the communities they serve. This article discusses how to incorporate a social mission into your family business, and the advantages and disadvantages of a social initiative. …
The Internal Revenue Services (IRS) recently released updated optional standard mileage rates for 2019. These rates are used to calculate the deductible cost of operating an automobile for business, charitable, medical, or moving purposes. The…
The government shutdown is creating problems for more than government businesses, as private businesses are also experiencing the consequences of a government shutdown. This article discusses potential consequences small business owners should be aware of.…
Companies are targeting Generation Z through personalized marketing strategies. This article discusses why personalization will drive marketing strategies for future consumers. To view this article, click the following link to access the original content. https://www.entrepreneur.com/article/326608
The economy, trade, local regulation, and consumer trends are among the many things that influence the family business industry. This article predicts five key trends that will influence the family business industry in 2019. To…
Social media plays an integral part in marketing, but marketers should be wary of the future social media marketing has for coming generations. This article discusses the rejection of some social media platforms, and what…
Hiring senior-level employees is a big organizational decision that will impact the future of your company. This article discusses what to keep in mind when recruiting someone for a senior-level position. To view this article,…
More social media engagement means more business, which is why business owners should look to increase their engagement levels in 2019. This article discusses seven tips for increasing social media engagement and traffic in 2019.…
Although it is early, the market friendly tax reform plan has enabled stock market and economic growth so far in 2018. This article discusses predictions for the market in the future and how the tax…
As a business leader, motivating employees starts with understanding their workload and doing everything possible to keep your workforce happy. This article explains why keeping employees happy through commitment and creativity should be a top…
Many people are wondering how their estate taxes will be impacted under the new tax reform guidelines. This article explains certain tax ramifications that may be unintended, but will certainly influence your estate planning process.…
As the blockchain revolution begins, businesses are finding new ways to implement the technology into the products or services they offer. This article discusses ways that blockchain will eventually change your business, and why your…
Although unpleasant, discussing your family business’ short term succession planning is crucial. This article discusses why family businesses should talk about and plan for the unexpected. To view this article, click the following link…
Business owners can proactively plan for their retirement all while growing their business. This articles discusses three tips you should consider when creating a retirement strategy and planning for the future of your business. To…
As a small business owner, you are undoubtedly faced with a hectic schedule that leaves you minimal free time. This articles discusses productivity and time management tips you can use to help you fit more…
As new products, consumer trends, economies, and business models emerge, it is important for family business owners to adapt and be open to change. This articles discusses why family businesses must innovate and create initiatives…
The passing of the Tax Cuts and Jobs Act resulted in a lower tax rate for corporate America. How do these lower taxes compare to other countries around the world? This articles discusses the benefits…
Creating price points for your products usually starts with looking at the prices of similar products within your industry. This article explains how your perception as a seller is valuable, and discusses three questions to…
Those that take risk and go beyond their comfort zones are more likely to see success earlier in their careers. This article discusses how professionals can embrace the challenges of failure to ultimately find success.…
The key to obtaining more clients is knowing the differences between what you can provide and how you can deliver results. This article explains how obtaining more clients begins with marketing your results rather than…
New details have emerged from the IRS that explain how small business owners may be able to obtain different tax breaks. This article discusses the different rules the IRS has proposed, and what this means…
Partner buyouts have become much more reasonable, as the SBA has changed a rule that will now allow a buying partner to qualify for a loan without fronting equity. This article discusses the new adjustments,…
Family businesses are being forced to innovate and change, and those that act quickly and decisively usually deliver better results. This article explains the need for constant innovation, the importance of relying on older generations,…
Success can come in many varieties, but the foundational traits in a successful person are similar. This article discusses the correlation between your life habits and your success, and explores the three traits that…
U.S. economic interests may take a significant blow if the U.S. continues to impose tariffs on Chinese manufactured goods. This article explains how business leaders across the U.S. are feeling about the continued trade war,…
For a small business, websites are a way to attract customers, enhance outreach, and market your product to almost anyone that has access to the internet. However, small business owners can make mistakes when it…
Family businesses are full of ups and downs, and managing your family in a business setting can be difficult. This article discusses five tips you can use to make running your family business a little…
There is no question that positive customer experience directly correlates with your business’s success. This article discusses four things your business can do in order to provide outstanding customer experiences. To view this article, click…
As tax reform begins in America, many businesses might want to consider filing as a C corporation. In an article from Inc., author Zoe Henry writes, “Most U.S. small businesses currently don’t qualify for the…
Directing changes can be a difficult task for any business leader. As the business world evolves, what are some ways that companies are keeping up with the changes of consumers? In an article from Disruption…
The Internal Revenue Service recently released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps…
As 2018 begins, business owners are paying close attention to the trends that will impact their businesses. In an article from Fortune, author Alan Murray discusses five trends that he will be watching: Recession watch…
As an entrepreneur, if you are considering venture capital to fund your startup, be sure to study the state of your current market. In an article from Entrepreneur, author Jayson DeMers writes, “For the past…
The new tax plan is a jolt for business, and not just corporate giants. Small businesses and other ‘pass-through’ entities are also benefiting. In an article from Dallas News, author Tom Benning writes, “And while…
Future employees might not need office space and scheduled hours, but instead work from home on their own time. This article explains why a third of the workforce will be working from home in the…
Be sure to take advantage of the many hidden write-offs you may be able to claim on your 2017 tax returns. This article discusses the seven different deductions you may be able to claim on…
The Arizona Department of Revenue (ADOR) is advising Arizona taxpayers to be aware of a scam this tax filing season, which has been reported in other states and by the IRS. Known as the “fake…
The team at Lohman Company is excited to announce that we were named the number two accounting firm in Ranking Arizona’s The Best of Arizona Business 2018 Accounting Firms with 6 to 33 CPAs! The list…
Businesses will no longer have incentives to move their businesses offshore for tax purposes, due to the new tax code. This article explains the new international tax system, and why businesses will be inclined to…
With the passing of the new tax act, business owners should carefully prepare for the upcoming tax season. This article discusses steps business owners can take to ensure proper tax filings, and the importance of…
With tax season approaching, it is important for business owners to not overlook the changes in the tax laws. This article discusses some common tax mistakes to avoid if you are a small or family…
With tax season approaching, it is important for business owners to not overlook the changes in the tax laws. This article discusses some common tax mistakes to avoid if you are a small or family…
While most businesses grow by beating out the competition, some businesses have instead created a larger target market that holds more opportunities. This article explains why you should consider a five-step approach to creating new…
As a business owner, being willing to adapt to changes in technology and the business world will pay off in the long-run. This article explains why startup companies should disrupt traditional practices while paying close…
Most businesses can attribute success to the amount of traffic their website generates, but actually getting people to your website can be challenging. This article discusses tactics small businesses can use to generate more traffic…
As baby boomers begin to leave the business world and move towards retirement, it is important to consider the transition of the next generation. This article discusses key questions to consider when creating a succession…
Cybersecurity attacks are a new norm, and business leaders must employ cyber resilient tactics to protect important information. This article explains 4 important steps your business can take to increase cyber resilience. To view this…
As a small business owner, consider outsourcing services to free up employee time and retain revenue. This article discusses the benefits of outsourcing services, and a couple departments you should consider for outsourcing. To view…
Getting someone’s attention is hard, and having him or her stay on your page is even harder. While there is a lot of competition out there in terms of search engine optimization, getting someone to…
Innovation has changed the business world for centuries. However, in the 21st century, innovation has become the norm. With technology giving us the ability to do so many things, how can business owners find a…
Blockchain technology is beginning to appear in every industry. At first glance, blockchain is a database that has a lot of potential in finance and business. With the recent and sudden growth of Bitcoin, blockchain…
Last week, the same Texas judge who originally struck down the overtime rules proposed by the Obama Administration, upheld his ruling. Many experts see this as the final blow for the proposed increase in the…
Close to half the population of the United States could be affected by a recent cyber attack on Equifax, one of the three largest American consumer credit reporting agencies in the United States. The company…
With the rise of technology, a new state of commerce has emerged. “Card-not-present” transactions might pose a threat for your business. Protecting your business by not falling victim to fraud is becoming harder than ever…
Administrative tasks may seem small compared to corporate meetings, but they are just as important to a company’s success. How much time does your business spend on administrative tasks? According to an article from CPA…
Engaged employees will go above and beyond what they are asked to complete. While engaged employees take business to new heights, getting employees engaged can be challenging. In an article from Inc., author Adam Fridman…
Disruptive technology is on the verge of taking over the business world. For those businesses that are not ready for such an impact, could disruptive technology wind up damaging business and consumer relations? In an…
As businesses migrate online, cybercrime is beginning to expand. Not only is digital fraud impacting online stores, the process of how hackers penetrate databases in evolving. In an article from Disruption Hub, author Laura Cox…
On October 13, 2017, the Social Security Administration (SSA) publicized a number of policy adjustments that will go into effect for 2018. The changes include the following: The maximum amount of wages subject to the…
On Thursday, House Republican leadership continued their efforts for tax reform, presenting a new tax bill containing a wide variety of changes for both business and individual tax rates, writes Anna Edgerton and Erik Wasson…
Business growth can stall due to lack of identity. Business owners should focus on their strengths while leveraging new technology to create a competitive advantage. In an article from Entrepreneur, author Nancy Harris writes,…
Customers are beginning to expect personalized shopping experiences. Using the latest consumer trends, ecommerce companies will be able to grow their businesses. In an article from Entrepreneur, author Thomas Smale writes, “Much has been said…
While raw data is readily accessible in today’s modern world, not every business uses data to enhance a customer’s experience. Businesses can use data to align your products and services. In an article from Disruption…
Bitcoin has made headlines in the past week as the value skyrockets. How are world leaders responding to the cryptocurrency? In an article from Business Insider, author James Stafford writes, “Cryptocurrency may be one of…
As the tax reform proposal continues its journey to potential passage, we thought we would offer you a brief look at the similarities and differences in the House and Senate tax bills. Both bills have…
As the holiday season nears, be on the lookout for email phishing scams that could access your personal data and taxes. According to an article from CPA Practice Advisor, “The most common way for cybercriminals…
With the widening talent gap in technology, it will be increasingly difficult for businesses to find an employment standard. In an article from Disruption Hub, author Laura Cox writes, “As enterprises inevitably enter the digital…
The Tax Cuts and Jobs Act, which was passed in both houses of Congress earlier this week, was signed into law by President Trump on December 22, 2017. The majority of the provisions contained in…
Cyberattacks have reached a critical level, hitting unprecedented numbers last year. It’s estimated that data breaches were up 40% in 2016. A common misconception is that these attacks only happen in the banking or healthcare…
According to data from 2015, over nine million U.S. businesses are now women owned. However, there are still hurdles women face as entrepreneurs, generally unique from their male counterparts. In a recent article for Business…
In addition to the added expense, there are a number of other factors to consider when considering salary increases for your employees. Whether or not the addition to your bottom line makes raises feasible, Josh…
When you own a business, you’re accountable for its success. However, if you have a strong, entrepreneurial team supporting you, you can be confident in relying upon them to make daily decisions without your direct…
Business owners and managers know that keeping the best employees isn’t easy. In an article for Entrepreneur, Matthew Wride, COO of DecisionWise, provides a series of questions for leaders to use in order to evaluate…
On Wednesday, the White House unveiled the administration’s proposed tax cut plan, which, if approved, would be the biggest tax cut and largest tax reform in the history of the United States. Top economic advisor,…
“We are on the edge of a precipice,” writes Walter Loeb, for Forbes. As the popularity of ecommerce increases, the security of the US retail industry becomes ever weaker. As an ever-increasing amount of sales…
A sophisticated and rapidly-spreading attack hit the accounts of Gmail users earlier this week, affecting as many as 1 million people, according to a statement issued by Google late Wednesday evening. “We have taken action…
Owning a business is a time-consuming pursuit; many entrepreneurs credit their success to education but struggle to find the time to continue learning while also managing their business. In a recent article for Entrepreneur, Scott…
Communication has gradually become more digital and less personal, prompting us to slowly lose our personal communication skills. With the digital age being full of texts, emails, phone calls, and social media, we find ourselves…
Marketing strategy, like all aspects of business, is an important part in running a successful company. While starting a new marketing strategy can be fun, they cannot be successful without hard work and dedication. In…
As graduation season comes to an end, there is a renewed sense of motivation from those who are beginning their careers. These graduates are not from the Millennial generation, but rather are their own new…
In every business, those who can tackle problems rather than complain about them are bound to succeed. Problem solvers, not whiners, always end up winning in business. In an article from Entrepreneur, Jill Schiefelbein writes,…
Did you know that employers claim about $1 Billion in tax credits each year under the Work Opportunity Tax Credit Program (WOTC)? The WOTC was formed to encourage employers to hire those looking for work…
Did you know that the IRS uses your social media use as part of their audit determinations? Be careful when you post about how much money you saved during tax season! In an article from…
Creative differences in the workplace can lead to messy situations. While some differences have easy resolutions, there can be times when both parties cannot find common ground, leading to a strained and tense workplace. How…
The era of using paper processes is coming to an end. Businesses are switching to technological advances that allow them to ditch paper. But not every business is opting to get rid of paper processes.…
In the business world today your business can either be known as a disruptor or the disrupted. Success in any industry relies on a CEO’s ability to see changes in the market and react accordingly.…
Business leaders all live busy and sometimes stressful lives. This article from Inc. offers advice for five things you can do daily to help you and your business be more productive. Author Jordan Scheltgen writes,…
Growing your network is one of the most important skills anyone can have in the business world. But how are you supposed to network when you hate networking? Surprisingly, it is easier than you think!…
Are your top performers satisfied at your business? Hopefully you have an open dialog with your employees, and you have an idea of how they’re feeling about their jobs. However, there are some things that…
Section 415 of the Tax Code, which limits the allowable contribution amounts to retirement plans, is reviewed every year and cost-of-living adjustments are made. The IRS has determined that beginning in 2017, some of these…
With President-Elect Donald Trump and the House and Senate both Republican majority, you may wonder what that means for your taxes. We’ve put together some information about how you might see your taxes change, possibly…
Earlier this year, The Department of Labor announced a Final Rule on overtime pay. Hopefully, you’ve had time to prepare for implementation, which occurs December 1, 2016. Here are some key provisions of the Final…
Holiday shopping season goes into full gear this week, as consumers and retailers prepare for Black Friday. Whether you’ve meticulously planned out your purchases or you just wing it and buy everything on December 23rd,…
Late yesterday, a federal judge in Texas blocked the Department of Labor’s ruling on overtime pay, which was set to take effect on December 1st. This is the ruling that would require employers to pay…
There are some prevailing stereotypes associated with successful CEOs. They’re loud and extroverted, with a penchant for self-promotion. While that might be true of some, there’s a lot more to a CEO’s success than those…
The Internal Revenue Service (IRS) has issued a reminder that it will be delaying refunds for taxpayers claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). The delay is meant…
It’s a common misconception that there’s only one type of networking style. In Jessica Stillman’s recent Inc. article, she explains the three types of networkers: Player: this is the one most people associate with successful…
The IRS has announced mileage rates for 2017, some of which are lower than 2016 rates. Here are some of the details from Journal of Accountancy: For business use of a car, van, pickup truck,…
Hopefully, 2017 will be a year of great prosperity for you and your business. What risks will businesses face in the coming year? CPA Practice Advisor’s managing editor Isaac O’Bannon reports on the findings of…
Happy 2017! Hopefully, this year will be filled with good health and prosperity, both for you and your business. Have you made any resolutions? It’s common to head into the new year with ambitious goals,…
Last year, fraud rose to unprecedented levels. IRS estimates indicate a 400% increase in phishing and malware incidents during the 2016 tax season. Criminals are finding more and more ways to sidestep the safeguards put…
Are you considering partnering with another business owner to grow your company? A short video from Entrepreneur features successful business owners with their best advice for anyone considering a partnership. Here are some of the…
What are entrepreneurs doing to grow their businesses in the coming year? That’s the question from a new survey of small business owners. Things like the political changes, technology, interest rates, and the employment market…
The multi-generational home is making a comeback. It’s not just Millennials who are moving back with their Generation X parents. In addition, Generation Xers are welcoming their Baby Boomer parents into the household. There can…
Would you know a tax myth from a tax fact? As tax season approaches, there are many myths swirling around about the IRS, tax returns, tax deduction, and anything tax-related. How do you know what…
As a business leader, there are so many aspects that need your attention. So where do you focus your energy? In a new article from Inc. magazine, entrepreneur Martin Zwilling gives tips for becoming an…
Are you someone who prefers being in charge, and is comfortable handling all the responsibilities of being CEO, or are you someone who could benefit from sharing the load with another capable leader? Author Gwen…
The IRS audit is every taxpayer’s fear, even those who are honest and diligent. However, IRS audits are less common than many Americans believe. The likelihood of an audit does tend to increase with a…
As we build greater protections against cyberattacks, criminals find ways to adapt. They adjust their strategies to stay ahead of the law and avoid detection. Their newest tactic is to send individually targeted emails –…
Industry experts have determined that benefits are growing in importance to job searchers. A new study suggests that 57% of prospective employees rate perks and benefits as major considerations when accepting or declining a job…
Have you thought about planning for the day you sell your company? Maybe you’re still growing your business, or you’re still heavily involved in the day-to-day operations, and you haven’t thought about leaving anytime soon.…
As you know, the Department of Labor announced new regulations in May regarding overtime pay for full time employees. Tammy McCutchen, the DOL’s former Wage and Hour Division administrator, spoke recently at a conference…
Due to additional Americans with Disabilities Act (ADA) regulations from 2010, many Arizona businesses could face an ADA lawsuit. Depending on what zip code you’re in – you could be next on the hit-list for…
Fraud has been a hot topic this year, between fake IRS scams and retailer data breaches. However, one segment of the population may be especially at risk. Millions of seniors are being taken advantage of…
As business owners, there are numerous tasks demanding your time and attention. Hopefully you’ve got a great team to help you manage the workload. However, it can be hard for business owners to let go…
Whether you’re still building your business or you’re firmly established and looking ahead to the next phase, it’s a good idea to be informed about retirement so you can best prepare. Social Security benefits Social…
If you think about the most iconic brands, their logos are instantly recognizable. Some marketing experts say a logo is the most important visual representation of your business. Your logo is the face of your…
According to the IRS, 83% of U.S. taxpayers accurately report their income and pay their taxes. That figure isn’t so bad when you compare it with Germany at 68%, Italy at 62%, or Greece at…
As a business owner, you have numerous demands on your time. The 40-hour workweek doesn’t exist for you. Even if there’s not a crisis, there is a constant stream of issues requiring your attention. Time…
Just last week, the IRS announced that it could be easier to get a waiver for missing the 60-day deadline on retirement plan rollovers. This is great news for anyone who may have missed that…
Do you have a thriving business which is secure and ready for growth opportunities? Have you thought about expanding internationally? The U.S. government has resources for American businesses who are looking to get started internationally.…
There’s no such thing as a perfect employee. Everyone has something to contribute, and hopefully you have a solid team of dedicated professionals you can count on. However, all employees have areas they could improve.…
A new study examined finance executives’ current views on retirement and benefits issues. Read some of the highlights from this new research. The comprehensive new study evaluates finance executives’ outlooks on a number of topics…
Employers of workers facing significant barriers to employment are urged to apply for the Work Opportunity Tax Credit (WOTC) enacted by the Protecting Americans from Tax Hikes (PATH) Act. The deadline to request certification has…
Employers are fighting harder, and offering more perks, to land the best employees. Do you give workers the flexibility they’re looking for? You’ve probably read about the changes in business and virtual workplace. With many…
The U.S. Equal Employment Opportunity Commission (EEOC) announced that some employers will be required to submit data regarding employees’ pay, beginning March 31, 2018. Smaller businesses may not be affected by these new requirements, as…
The IRS has announced a new deadline for W-2 and 1099 filings. It is important to plan now, as the deadline has been moved up. Now, these forms are due to the SSA/IRS by January…
Don’t worry, this isn’t another political post! As you know, election 2016 is imminent. Did you also know that in some states, employers have legal responsibilities on voting day? Attorney Richard Alaniz advises employers to…
Holiday season encourages charitable giving. If you give a gift to your favorite charity and want to claim it as a tax deduction, consider these tips before you make a donation. Give to qualified charities.…
There are as many types of businesses as there are time-and-attendance systems. While different businesses have different needs for tracking time-and-attendance, we thought it would be helpful to put together a list of systems that…
Millennial employees have the potential to be great sources of new ideas and innovation for your company. All it takes is a little guidance to help get their creative juices flowing. Here are a few…
This year, like previous years, businesses face the challenge of staying on top of new trends, being present in the minds of consumers, increasing leads and intensifying brand recognition efforts. Businesses exist on a…
A lot of people have watched the recent fluctuations in the market and began having flashbacks of the great recession. Have no fear, if you are invested in long term, stay put. The current chaos…
For businesses to succeed, they need to stand out. Whether companies are courting investors or customers, years of hard work mean nothing without a good first impression. Below are a few easy ways that business…
Every year people are being robbed of millions of dollars, they aren’t being held up at gun point, and they often don’t even know it’s happening. Though federal agencies are ramping up security measures, identity…
No retiree wants to relinquish their hard earned money to the government. Though paying taxes is inevitable, there are several advantages available that can lower the amount going to Uncle Sam. An important first step…
Mobile search and internet usage has surpassed desktop activity in recent years and continues to grow. However, many businesses create media and marketing campaigns on desktop computers and don’t take into account that mobile visitors…
Business owners need to maintain not only clients but employees to keep operations running smoothly. One big mistake employers make is not promoting from within. Some positions won’t be able to be filled by your…
Employers wishing to take advantage of the work opportunity tax credit (WOTC) will be pleased to know they have more time to file the necessary paperwork. Earlier this month, the IRS announced an extension for…
Do you remember how you paid last time you got a cup of coffee? Did you unfold a five-dollar bill and hand it to the cashier or give a quick swipe of your card? How…
As a business owner, it’s your job to find the right 401(k) provider to fit your company’s needs. How do you start that process? Here are three questions to ask a prospective 401(k) provider. How…
When you think about networking, do you look forward to the chance to meet new people? Or are you filled with dread? Often, it’s the way we approach networking that colors the experience. Perhaps the…
It’s estimated that Americans have $8 billion in unclaimed pension benefits each year. How is that figure so high? As it turns out, getting your hands on an old pension can be a frustrating process.…
The Department of Labor has just announced a Final Rule on overtime pay, which means 4.2 million more workers must be paid for overtime work. This Final Rule defines which white collar workers are protected…
Entrepreneurs are driven and passionate about what they do. Starting a new business requires an intense degree of energy and commitment. Business owners can be so eager to build their new companies that they rush…
Are you getting the most out of your interactions with others? Are you hearing what’s being said, or just preparing your response as the other person speaks? Active listening creates an environment that invites an…
Whether your workers are considered employees or independent contractors will carry significant legal ramifications. With respect to the IRS, ACA (Affordable Care Act), and Department of Labor, it is necessary that you classify your workers…
Have you sat down with your CPA to discuss the tax provisions resulting from the passage of the Protecting Americans from Tax Hikes (PATH) Act in 2015? This includes many business deductions that had expired,…
Sometimes it can seem like regular habits can become rigid and boring. However, regular habits can help you become more efficient because you are creating a regular daily flow – which involves work, self-care, downtime,…
In the midst of summer, most of us want to take a break from our careers by vacationing and taking some time off. Yet, there are some ways to make some time for yourself and…
For your business to grow and maintain its agility, the technology you use must stay current and up-to-date. This process of switching to new systems can be intimidating and even frustrating to those using it…
Internal audits are playing an ever more important role in helping businesses succeed. In an environment where technological innovation and global interconnectedness presents rapidly moving challenges and opportunities for business owners, more and more organizations…
Having the best attitude and strong skill set can’t make up for a lack in strong work habits. Boost your overall productivity by implementing planning and organizational elements into your schedule. Work habits can be…
The Affordable Care Act is in full motion and employers are already preparing for the changes to come next year. Starting in early 2016, employers subject to the employer shared responsibility (ESR) provisions will have…
Every year, many people end up with a larger refund than expected, and others find they owe a lot more tax than they thought they would. If this has happened to you in the past,…
Last month, the AICPA issued a listing of five financial tips, released specifically with newly-employed young people in mind. Listed below are some of those financial savvy tips for young consumers. Save,…
Across the country, new college students are heading off to campus, preparing to live away from their parents for the first time. While many parents are still supporting their student offspring, these young people will…
On July 31st, President Obama signed a bill into law that included language changing the filing due dates for certain tax returns. The modifications were proposed originally by members of the American Institute of CPA’s…
Everyone knows that it’s impossible to predict the stock market, making it essential to learn the best way to write off any losses. So, while some investors are on the lookout for buying opportunities, others…
Miscellaneous deductions can reduce your tax liability. These may include certain expenses you incurred at your job if you are an employee. You must itemize deductions when you file to claim these costs. So if…
When you think about your motives for attending a networking event, it often comes down to selling. However, it doesn’t – and shouldn’t, always be about the sale. Remember that in the end, people…
The IRS issued its annual update of special per-diem rates, to be used in substantiating certain business expenses taxpayers incur when traveling away from him in 2015 and 2016. Provided in the notice are transportation…
Fall is officially here, which means the next tax season is just around the corner! Keeping that in mind, here’s a list of regulatory and legislative developments, tax issues, and other concerns that we’ll be…
Participating in industry conferences can either feel energizing or exhausting, depending on your approach. Conferences present an exciting opportunity to meet new people, keep up with hot topics, and find out about new ideas within…
By now, you have probably heard some piece of information surrounding the Department of Labor’s (DOL) proposed overtime rule changes. While the DOL’s comment period ended on September 4, several sources seem to indicate a…
There is a budget deal moving quickly through Congress that would put an end to a monetarily successful strategy for couples known as “file-and-suspend”. This strategy is a loop-hole of sorts that can boost lifetime…
When you turn 65, the way you file taxes changes. Consequently, it may not be a bad idea to brush up tax policy to see how you can benefit from tax issues brought on from…
A recent IRS announcement stated that it will raise the deductible amount from $500 to $2,500 for purchases of tangible property by taxpayers without applicable financial statements. After receiving more than 150 comments advocating that…
What kind of employees do you need to hire to grow a company? You can train and hire for skills, shaping the team personality, however, what you can’t train, shape or change are your employees’…
Security breaches were front and center this year, including those that happened at high-profile brands such as Home Depot, AT&T, JP Morgan, eBay and P.F. Chang’s. Because these companies are so large, they were able…
The New Year is just around the corner. Have you given any thought to your sales plans and goals yet? If not, it’s the perfect time to take some advice on how to get started.…
On Friday December 19,2014 President Obama signed a bill to retroactively extend more than 50 expired tax provisions through 2014. The Tax Increase Prevention Act of 2014 was passed by a vote of 76-16. What…
One important area for business owners to evaluate in the New Year is employee productivity. A simple way to improve it is by creating structure for your workforce, especially for those who work remotely. Here’s…
There is great power in simplicity. Reaching out to your customers on a personal level and going right to the heart of what’s most important to them, in a straightforward way, goes a long way…
Avoiding risk means passing on opportunity and that can be costly. Often, we rationalize that avoiding risk is a “no cost” option and something that is perfectly acceptable. The reality is that risk avoidance is…
What types of organizations do Millennials want to work for? Those that are focused on their people and purpose, not just what they’re selling and how much money is being made. This data comes from…
What makes some businesspeople successful, and others not? It has everything to do with having the right frame of mind. Below are the top 5 mindsets: 1. Choose courage over fear You have to have courage…
In a recent major security breach, hackers gained unauthorized access to Anthem Health’s IT system. Hackers obtained personal data such as names, addresses, Social Security numbers, birthdays, email and employment information on up to 80…
Many may have heard about the new tangible property regulations that have gone into effect this year and the frustration that many business owners and CPAs have had regarding the additional work required to comply…
Topping the IRS list of “Dirty Dozen” tax scams this year are fraudulent calls from phone scammers posing as IRS agents. With the tax season in full swing, phone scams have been surging, with…
The IT world is changing – with new technology, mobile capabilities, applications and social media, businesses are finding it more and more difficult to protect their important data and comply with ever changing regulations.…
Your list of contacts in your email list are a hugely valuable business asset. The ability to send valuable content to your target audience, all the while building long-term relationships plays a big role in…
Whether we’re talking about money, information, technology, or vendors, all business leaders need something from someone else. Keeping a close connection with your network helps keep those resources close at hand. Your professional partnerships can…
Oftentimes, many small and even mid-sized businesses become so focused on growing the business itself that we never stop to consider the impact of a key personnel loss. Personnel issues with key people can have…
A cohesive team of employees that work well together means that your team is productive and efficient. By developing and working through team-building activities, your team can work together to develop trust and establish stronger…
One of the great ways to stay up-to-date within your market is by attending industry-specific conferences. While attending your next upcoming conference event, don’t overlook the networking opportunities present. Effectively engage your target audience by…
With summer tapping us on the shoulder just after Memorial Day, it’s time to take advantage of the increase in business that warmer temperatures can bring. This year holds a particular advantage over last year,…
All companies want not only the best people to work for them, but also people who are truly fans of the company and its product or services. So, how can companies get their employees to…
Though not everybody is cut out to run their own business, some are more adept than others at being at the helm of a successful entrepreneurial enterprise. Becoming a successful entrepreneur requires both a great…
Become a thought leader. A successful business is made up, not only of the brand of the company, but the brand and reputation of the people that run it. Investing time and energy in establishing…
Great speakers are great because they’re never satisfied. They are constantly seeking new ways to improve on the art of public speaking. How do you transform an already good public speaker into a showstopper? The…
Have you ever noticed that when you walk away from a problem for a while, a new idea or solution just pops into your head out of nowhere? Sometimes, you just need a break if…
Building a killer team is crucial to your success as an entrepreneur. Here’s how to do it: 1. Look for real talent. Hire people who are smarter and have more experience than you. 2. Seek out…
Regardless of what business you’re in or what your goals are, productivity is extremely important. In a time of constant movement, constant communication, and continual pursuit of achievement, we seldom feel we are ahead of that long to-do…
Ask yourself: do you want short-term customers or customers for life? Here’s what you can do to ensure that your customers want to keep coming back: Turn No into Maybe It’s only a matter of…
As the Internet of Things (IoT) grows and more items are added to the circle of connectivity, the relationship between consumers who use the objects and the brands that manufacture them will invariably change. …
With the popularity of online reviews, most shoppers these days peruse what other shoppers have to say before committing to a purchase. The way consumers make decisions has dramatically changed over the last decade. While standing…
With the pervasiveness of social media, it’s likely that many of your employees are connected to a variety of social media outlets during work and personal time. This leaves business managers with concerns regarding…
Recruiting: it takes time, energy and focus. It may feel like it’s unproductive for the company since it takes a while for the fruits of your labor – the new hire’s training, acclimation and productivity…
The startup world can be rough. Some speculate that 8 out of 10 businesses fail in the first 18 months, while others believe the number is closer to 90 percent. Surprisingly, many businesses normally don’t…
Keeping the big picture in mind can help you get a larger bottom line. Large sales sometimes happen with little efforts, including asking for referrals, using a team approach to sales and re-purposing work you’ve…
You’ve probably heard the old adage that it costs more to get a new customer than it does to keep an existing one. Not only are new customer acquisition costs higher, but successful customer retention…
With close to 2 billion active users on social media, there’s an opportunity for recruiters to connect with people they usually wouldn’t. The social recruiting trend is increasing and if your company isn’t on board…
Try as you might, some clients just won’t be in it for the long haul. There is hope, however! Client retention is arguably one of the most important aspects of your business. It takes a…
New research finds that some employees aren’t keeping the faith – in their bosses. A new study from Interaction Associates, a workplace performance improvement company, concluded that 40 percent of workers said they don’t have…
When businesses grow, there is a natural path toward having less experienced employees assume new leadership roles. Smaller businesses sometimes fail to consider the benefits of leadership planning, believing that there will never be a…
How is it that some leaders can make a lasting impact? It can’t simply be achieved at the tail end of a person’s tenure at an organization or the very year a leader starts planning…
Networking: it plays a crucial part in our careers and businesses. Whether it’s finding a new client or just passing and sharing knowledge…not everybody is doing it right. What might you be doing wrong?…
Most individuals and families have resolved to make 2014 the year they get finances under control by paying down debt and saving more. There are a lot of tips and warnings that families and individuals…
When looking at retirement savings it is important that you have all the necessary facts regarding the different tax strategies associated with various plans. Not all retirement plans have the same tax rules and some…
According to the Tax Policy Center, the oft quoted $95 price tag for not having health insurance under the Affordable Care Act most likely will end up costing many households more than that, as this…
The verdict is in: some tax years really are worse than others. 100 years ago this week, Americans struggled to meet the nation’s first tax filing deadline and the process was fraught with confusion. In…
A document management company, Cintas Corp., and the Ponemon Institute, a company that conducts independent research on privacy, data protection and information security policy, recently teamed up to identify a few commonly overlooked areas of…
With 8,000 people turning 65 every day in America, Baby Boomers are prepping for retirement. The question is whether or not they are financially prepared to do so. An understanding of the four phases of…
The most important piece of counsel for an entrepreneur or small business owner is how to recognize when to ignore the advice you are being given. Though often well meaning, others can tell you exactly…
Child identity theft is a growing problem, but taking proper steps to combat it can go a long way toward keeping your child safer. One in 40 households with children under age 18 had at…
Oftentimes, after the initial setup of a website, it can be tricky to figure out how often to update and what, specifically, should be updated. Here are some tips to help you decide: How often…
More than 100 New Hampshire physicians and health care providers have been reportedly victimized by tax fraud. Social Security numbers were stolen and the perpetrators used them to file fraudulent tax returns and steal tax…
Successful companies don’t hold back when it comes to recruiting the best candidates. Whether it’s drawing them away from other organizations or grabbing talented people from other industries, there are three attributes that are most…
A great number of entrepreneurs work hard to achieve balance in their workday, ensuring that their daily tasks are completed. While they often must wear many different hats and are short on time, some entrepreneurs…
No one wants to be quickly forgotten, especially after a networking event, but being memorable is essential for every entrepreneur. Citing a common interest, developing a signature style and finding ways to follow up are…
Business relationships, like any other, need nurturing, communication and patience in order to become (and stay) harmonious. By following these tips, you can build a strong foundation: 1. Avoid Overpromising and Underperforming You always want…
Traditionally, employees have always held a lot of influence on the way brands are perceived, but never more so than today. The stakes are much higher, with the immediacy of being able to share an…
Have you ever considered the role your mindset plays in how you approach your leadership? Mindset can be defined as the attitudes, beliefs and expectations you hold that act as the foundation of who you…
With your 2013 tax return just fading from the rearview mirror, your last thought is likely about your 2014 return. Mid-year planning is particularly important for high-income taxpayers and anyone with substantial investment income. Here…
Don’t sweat the small stuff – but be sure to plan for it. Oftentimes, businesses focus on a few selected risks rather than planning for all types of security threats. Visualizing several worst case scenarios,…
Summer brings warm weather, sunny days and summer hires. Students out of school for a few months are eager to work and businesses are eager to have them. Be prepared for the rush of additional…
Planning for a disaster can sometimes elicit feelings of discomfort, but it’s a vital tool for businesses. Though it may be easier to adopt the “It won’t happen to us” view, sticking your head in…
While we’ve all been given personal finance advice, few actually end up doing anything with it. Instead they incur debt by taking out loans, making excessive purchases or having to front unexpected bills. The more…
One of the best pieces of financial advice ever given is to build up an emergency fund in the event something unexpected happens and you need some fast cash. Unfortunately, not everyone prepares such a…
In a statement made this week regarding the Fed’s bond buying program, it was revealed that at this time they will continue to implement this program for at least another month. It was thought that…
With the S&P highs that were reached this week some investors are more encouraged to return to the stock market. You may be thinking about ways to save more money and what investments can supplement…
The Federal Government effectively shutdown operations beginning Tuesday, October 1, 2013, and by the end of the day the shutdown was already affecting businesses. Due to the budget stalemate in Congress, many agencies were left…
In an article for Money.usnews.com, Kimberly Palmer outlines some shrewd financial suggestions for your fall financial planning. There are just a few months left to take advantage of things like open enrollment, using up certain…
As you look ahead to retirement, are you prepared? Have you begun the necessary planning to ensure financial security? In a lot of ways, planning for retirement is like running a relay race. You must…
Very often in a marriage there is a division of labor between spouses, with one spouse managing the bills and the assets. Most of the time this is a good way to delegate responsibility, but…
Due to the recent government shutdown, the IRS has announced that there will be a one to two week delay in the start of the 2014 filing season as a result of this shutdown. The…
As more and more boomers are getting ready to retire, many are looking at handing down the small businesses that they created. According to Avi Kestenbaum, a partner and co-chair of the Trusts & Estates…
With all of the talk about signing up for exchange insurance, losing insurance plans, and broken websites, individuals may not be aware of the 0.9% Medicare surtax that will be assessed on 2013 taxes. This…
The year is fast approaching and the time to get your financial ducks in a row is getting shorter. Make sure you are getting all the tax breaks you can qualify for in order to…
It is no surprise that credit card companies, banks, and loan companies spend an incredible amount of money on marketing their products to consumers. To make matters even worse, the majority of their marketing efforts…
Retirement should be something that every individual thinks about. Gone are the days of company pensions that could sustain you through your golden years. It has become more and more the responsibility of the individual…
As you prepare for the upcoming tax season, making your January mortgage payment early could lower your tax bill. Since mortgage payments are made at the end of occupancy periods (unlike rent which is paid…
If you’re thinking about retirement in the next five years, it might be a good idea to give your plans a test drive to see if what you are planning for is something you can…
It’s a new year and the time is right to begin organizing your finances. In addition to all of those other resolutions, financial planning can be a resolution you begin today. Here are some helpful…
If you’re like most people you have made a New Year’s resolution to take control of your finances. You have researched the vast amount of financial information available and have learned many tips to get…
Tax filing season is finally here. It is time to pull together your information for the last year and review your Form 1040 from 2012. When looking at the 1040 Form for 2013, you will…
With the massive data breach surrounding Target and credit card information being hacked, many people are looking at how to protect their information while conducting business online. Below are five mistakes individuals make that put…
As a business owner, have you written down a list of goals that need to be achieved in order to bring about success this year? If so, then you are one of the few. Most…
A new survey provides an optimistic outlook on small business lending. The survey, conducted by the Professional Risk Managers’ International Association, polled 255 risk managers at U.S. banks to gain insight on their projected lending…
Financial fraud is more common than ever. Sadly, even some of the most prestigious financial advisers have been convicted of fraudulent activity over the past few years. Although there’s no guarantee to protect yourself against…
One of the most challenging aspects of owning a business is understanding how to manage your personal assets. Many small business owners get taken advantage of with high-priced asset protection plans, expensive insurance or a…
There are tons of things you can do to help pay for your college education. However, many of the options result in a large debt pileup. Instead of taking out all the loans you can…
Confidence is crucial when it comes to being a leader. However, self-assurance doesn’t come naturally for many. It takes time to accept and fine tune your skills, strengths and abilities. Don’t let self-doubt prevent you…
Some of the more widely publicized provisions of the Patient Protection and Affordable Care Act (“PPACA”) affecting employer group health plans are set to go into effect in 2014. While a number of the law’s…
More and more people are interested in starting their own businesses these days. Ever since the recession hit, new grads decided to start their own companies rather than wait for some company to give them…
New guidance has been issued on the Affordable Care Act requirement that employers provide employees with a notice of their health insurance coverage options available through the future health insurance exchanges. Issued by the U.S.…
While lawmakers may not agree on what to do about the U.S. economy, CFOs and other senior executives agree that job creation is a good place to start. In an effort to help stimulate this…
Many small businesses are looking forward to the new health insurance exchanges that will allow them to shop around for plans. However, the Government Accountability Office recently announced that there is a chance that the…
Since last week’s blog post, the White House formally announced the delay of the Small Business Health Insurance Exchange (SHOP), as well as several other components of the Affordable Care Act (ACA). As we mentioned…
Running a business has its ups and downs. Sometimes you encounter problems when things don’t go according to plan and you start to dig yourself into a good old-fashioned rut. One way to get out…
According to the U.S. Chamber of Commerce’s quarterly small-business outlook survey, half of small businesses affected by the new health-care law plan to either cut hours or reduce full-time workers to part-time status in order…
As many people know, it’s very hard to dig yourself out of debt and it can often take years to truly understand how to manage your finances. One way people have found success in managing…
While April 15th might sound like it’s still a ways off, it’s crucial that you start thinking about tax saving strategies now. Even more so this year, as there are a number of new taxes…
It’s hard for people to focus on future savings when their present state of finances is constantly being disrupted by the financial events taking place throughout the last few years. Unfortunately, the reality is that…
It has recently been reported that the IRS is sending out letters to small business owners questioning their efforts when it comes to reporting all of their cash income. While the agency says the letters…
Recruiting and retaining employees are often two of the hardest tasks experienced by businesses. Companies often fail at this because they go into the hiring process with the notion that they will recruit good candidates…
As you may be aware, the employer mandate under the 2010 Affordable Care Act was delayed last month until January 2015. However, the individual mandate is still scheduled to take effect starting in 2014. On…
With the fate of future tax breaks in Congress’ hands, this year is anything but ordinary for taxpayers. Unless Congresses reaches an agreement by December 31, nearly 90% of Americans should expect to pay higher…
Earlier this month, the IRS announced that it is delaying the effective date of the temporary regulations it issued in December 2011, in regards to whether property expenses could be deducted or had to be…
As a business owner, you understand the importance of attracting and retaining high quality employees. One of the best ways to do this is by offering a 401(k) plan. In fact, research shows that employees…
While creating jobs is great for the economy, retaining employees is crucial to keeping companies afloat. Unfortunately, many companies might not be able to pay them as much as their worth and will oftentimes need…
The start of a new year is the perfect time to assess your savings, and modern technology allows for more ways than ever to do so. Check out the methods below and make sure you’re…
With the start of a new year behind us now, it’s the perfect time to consider securing your upcoming retirement. Below are just a few ways on how to prepare for the golden years. Save…
On January 1, 2013, all temporary unlimited deposit insurance coverage for noninterest-bearing transaction accounts at all FDIC-insured depository institutions (IDIs) expired. The coverage was secured under Section 343 of the Dodd-Frank Wall Street Reform and…
Following the passage of the American Taxpayer Relief Act, the Internal Revenue Service (IRS) recently announced that it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30.…
Late last week, the IRS issued Rev. Proc. 2013-15, which contains information on inflation-adjusted items for 2013. When the IRS issued its usual end-of-the-year inflation adjustment revenue procedure back in October, it noted that a…
With the expiration of the Social Security payroll tax break, many employees will see a reduction in their paychecks. Employees will want to adjust their budgets now so they don’t run into any unwanted surprises.…
Experts agree that people tend to be happier when they spend their money on experiences rather than objects. It’s true that some objects are necessary to create certain experiences, such as the way new outdoor…
As we dive into the heart of tax season, CPAs need to educate clients on tax return and tax-related identity theft. Tax return identity theft occurs when someone uses a taxpayer’s personal information to claim…
When you achieve a total state of concentration, you are more focused on the tasks at hand and so absorbed that you lose track of time. Generally, people who experience this type of concentration, or…
The Internal Revenue Service (IRS) recently announced that several problems with the filings for education tax credits may be delaying processing of many tax returns. According to the IRS, there have been many instances in…
When running a business you’re always going to be faced with unfair advantages. But as a leader, it’s your job to spin those challenges around into a competitive advantage. Doing so can help put you…
A new study reveals that 60% of workers over the age of 60 plan to continue working after retirement. While some hope to stay at their current job, others plan to look for completely new…
When faced with a boring or difficult task, it’s very easy to let your mind wander and lose all focus to finish the task at hand. One way to keep the energy and perseverance high…
On March 20th, the Internal Revenue Service (IRS) announced that it will provide late payment penalty relief to individuals and businesses requesting a filing extension. Due to the late passage of the American Taxpayer Relief…
With April 15th right around the corner, businesses are scrambling to find any remaining tax deductions. While there’s still time, take a look at the list below of several often overlooked business-tax deductions and see…
Although it might not feel like spring in some areas, April is here and it’s the perfect time to do some spring cleaning of your brand. Keeping your brand relevant and updated is crucial to…
Now, more than ever, people are using the Internet to handle their banking, credit cards and retirement accounts, as well as access their social security benefits and health-care plans. But with this increase comes more…
If you have a scanner, computer and smartphone, converting your paper copies to digital files is a cinch. By digitizing your files, you’ll be better organized and be able to access them with ease. Here…
More and more people are putting off retirement in order to increase their savings. Delaying retirement for just 5 years can increase your income and standard of living significantly. Here are several other benefits working…
The United States has one of the highest tax-compliance rates in the world. In addition, the combined cost of noncompliance from underreporting, nonfiling and nonpayment is projected to be $450 billion annually. With an estimated…
Forty hours a week sounds like it’d be enough time to get all your work done, but ask any small business employee and they’ll tell you differently. The constant interruptions and routine tasks can keep…
Selling a home can be an emotional process. This is the home your kids grew up in and you prepared numerous family dinners in. But when the home selling process gets underway, it’s best to…
Budgets can be a hassle. They’re complicated and often you spend more time categorizing your spending than making the actual transaction. Here are some strategies and tips to help make the budget planning process easier…
Recently the Internal Revenue Service proposed temporary regulations governing the deduction and capitalization of tangible property expenditures that would be unnecessarily complex and burdensome for many taxpayers. According to Patricia Thompson, chair of the Tax…
Late summer is the perfect time for last-minute tax planning. With four months until the end-of-the-year deadlines, follow these tips to help you prepare: Bulk up your retirement contributions. Max out your retirement savings by…
As part of the Patient Protection and Affordable Care Act (popularly known as the “health care reform law”), an additional 3.8% tax on unearned income will apply to certain individuals. Who’s Impacted by the 3.8%…
Everyone dreams of living a comfortable retirement, but many people fail to realize that the financial decisions you make today will have a significant effect on your future. Here are several ways you could be…
Over the years, everyone has made purchases they regret. Perhaps it was a washing machine that made way too much noise or a DVD that didn’t live up to your expectations. Today, there are more…
One of the biggest problems affecting the IRS, U.S. Department of Labor and state governments is the misclassification of workers. Improper classification of workers as independent contractors costs the government tax revenue, in the form…
With record-low interest rates, many people are considering refinancing their mortgage. However, low rates aren’t the only reason for refinancing a home loan these days. Here are several other good reasons to think about a…
For those of you thinking about the cost of long-term care, the outlook doesn’t look bright. In fact, the already high cost is expected to increase over the next few decades. Right now, the median…
With a fluctuating economy, retirement planning has changed a lot over the decades. One major adjustment is that people are working longer. Today almost 1 in 3 people aged 65 to 69 are still employed.…
As fraud continues to be a problem for small businesses, owners need to stay on top of the actions of their employees and customers. One way to do this is by establishing a division of…
Since its establishment in 1935, Social Security has affected nearly every American. But now that the financial stability of the program has become an issue, uneasiness sets in as to how long it will last…
A new tax scam has the Internal Revenue Service (IRS) concerned as it uses a website that looks almost identical to the IRS e-Services online registration page. Reports like these are not uncommon as scammers…
As online banking becomes more and more popular, the harder it is for people to keep track of multiple accounts. The more accounts you have, the more likely you are to miss a payment, pay…
The IRS has acknowledged our concerns, heard the demands from businesses and tax professionals regarding the issues with the final tangible property regulations, and responded positively. In a recent update from the Internal Revenue Service,…
Do you know which demographic controls 85% of the country’s wealth, and are now the fastest growing user group of social media? Surprisingly enough, it’s seniors. The over 50 population in the U.S. reached 108…
Collaboration in the workplace is an often discussed topic in any office environment, and for good reason. To increase productivity, resource sharing and keep your customers happy, collaboration is key. But where should you start?…
Social recruiting is on the rise, and your online profile says a lot about you and your professional image. Using an inappropriate profile picture or to many “!!!” can be a turn-off to anyone visiting…
Making your employees feel appreciated doesn’t have to be expensive. In fact, there are ways to reward your team that don’t cost any money. Regular recognition and praise given to employees has been shown to…
Chaotic and unencumbered business growth has the potential to lead many organizations, both large and small, into a ‘crash and burn’ reality that, without organized structure, can inhibit sustainable growth. Consider the following three essentials…
While often overlooked, the project close out step is one of the key learning experiences and process improvement activities that can be performed during a projects life cycle. By actively closing out a project, you…
It’s always smart to keep your tax returns on file. Old returns can come in handy when you’re making important financial decisions, such as applying for a mortgage or insurance. Additionally, technology has made it…
Data breaching has become more and more common with the growth of the Internet. Fraudsters often get credit card numbers over the Internet and make fraudulent charges at the cardholder’s expense. Investigators are doing what…
With summer right around the corner, now is the perfect time to start your spring cleaning. While you may be focused on cleaning out your closets and mowing the lawn, be sure to pay attention…
Technology is well known for making things easier for consumers, especially spending money. In a recent poll, more than half of U.S. adults say that technology has made it easier to spend money. Research also…
Kids are expensive these days and even more so when they go off to college. Luckily, we live in a country that rewards parents for helping to pay for their child’s education. Parents and grandparents…
Affordable health care is hard to find, especially now that many health insurance companies are raising deductibles and switching from fixed-dollar co-payments to coinsurance. Health care is different than any other expense in that most…
With all the bad press and legislation aimed at making payday lending illegal, it’s amazing there are so many still in business. The reason for this is simple: it’s a quick way to get cash.…
Under the latest phase of the IRS’s Fresh Start Initiative, even more taxpayers will qualify to repay their student loans or pay off their delinquent state and local taxes with an Offer In Compromise (OIC.)…
Earlier this month, the AICPA introduced the Total Tax Insights calculator. This tool is designed to give U.S. taxpayers a clearer picture of their estimated total federal, state and local tax obligation. The calculator is…
Whether you’re a young entrepreneur running a start-up company or a seasoned manager at one the largest companies in the world, the morale of your employees is crucial to being successful. Employees want to feel…
The first year out of college can be overwhelming. Many recent grads are trying to find jobs, moving back in with parents and being pressured to start saving money. While we can’t make mom start…
Losing your smart phone can be stressful, as it keeps you from making phone calls, sending texts or even checking your Facebook account. However, these things can easily be replaced. The greatest repercussion you may…
On Thursday, the Supreme Court ruled to uphold President Obama’s health care reform law. The ruling is a huge victory for the President. If Romney comes into office, he can have the agencies delay the…
