blog
June 13, 2018
Midyear Business Review Should Go Beyond Financials

Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned. The middle of the year is the perfect time to stop for a breather.  ...

June 7, 2018
Could a Long-Term Deal Ease Your Succession Planning Woes?

Some business owners — particularly those who founded their companies — may find it hard to give up control to a successor. Maybe you just can’t identify the right person internally to fill your shoes. While retirement isn’t in your immediate future, you know you must eventually step down. ...

June 5, 2018
Federal Tax Reform Highlights for Businesses

The federal tax reform highlights affecting businesses include a flat rate for c corporations, new limits in business loss deductions, section 179 expensing changes, luxury auto depreciation annual limit increases and other provisions included in this blog....

June 5, 2018
Federal Tax Reform Highlights for Individuals

Highlights of the federal tax reform affecting individuals includes lower individual rates, and changes to the standard deduction, exemptions, medical expenses, charitable contributions, child tax credits, home mortgage interest and other items, described in this blog post....

May 22, 2018
Why the State Tax Bill Matters to Minnesotans

ST. PAUL, Minn. (WCCO) — One of the biggest items facing a veto in the Minnesota Legislature is the state tax bill.The bill lines up our taxes with the new Federal law so that at least 800,000 Minnesotans don’t end up paying more. WCCO asked CPA Chris Wittich to give us examples for 2018 tax bills....

May 21, 2018
Cost Control Takes a Total Team Effort

Cost control is a formal management technique through which you evaluate your company’s operations and isolate activities costing you too much money. This isn’t something you can do on your own — you’ll need a total team effort from your managers and advisors. Done properly, however, the results can be well worth it....

May 21, 2018
Four Ways to Encourage Innovation in Customer Service

When business people speak of innovation, the focus is usually on a pioneering product or state-of-the-art service that will “revolutionize the industry.” But innovation can apply to any aspect of your company — including customer service....

May 20, 2018
Exit Planning Strategies Event

Please join us on May 30th for "Plan Today - Exit Tomorrow". This event at the Metropolitan Ballroom & Clubroom will focus on key strategies for a smooth transition. Complimentary registration is available for business owners and executives who are considering pursuing an exit strategy....

May 17, 2018
Business Valuation Process: What to Expect

Many business owners who inquire about business valuations have a very limited understanding of what the valuation process entails.  I’ve had well-meaning but unknowing clients hand me a couple years of Quickbooks P&Ls and say “call me when it’s done."...

Do you own a building? Cost segregation studies can be used to create a huge increase depreciation for one year when you own a building.
- Chris Wittich, CPA
May 8, 2018
Distribution Rules for Inherited Retirement Plan Assets

As our clients address many of the issues associated with estate planning, one of the questions that usually comes up is the beneficiary designations associated with retirement account assets. An important factor to consider in naming a beneficiary of your retirement account is the how the required minimum distribution...

The FBAR deadline has changed - it's now due with the tax return instead of June 30th.
- Chris Wittich, CPA