blog
March 8, 2019
Using Knowledge Management to Develop Your Succession Plan

As the old saying goes, “Knowledge is power.” This certainly rings true in business, as those who best understand their industries and markets tend to have a knack for staying on top. If that person is a company’s owner, however, great knowledge can turn into a vulnerability when he or she decides to retire or ...

March 6, 2019
Prevent Fraud With the Help of Your Audit Committee

Your board’s audit committee is a first line of defense against fraud. But to be effective, committee members need to do more than simply review financial statements and audit results.  Members should also adopt the following best practices:...

March 6, 2019
Not Every Small Business Gets to Enjoy the Benefits of the New Tax Law

Many of the favorable attributes of the new tax law apply to businesses with less than $25M of gross receipts. In addition, these entities avoid the 30% of taxable income interest limitations under §163(j). Unfortunately, there is a significant exception to the $25M test.  Businesses that are deemed tax shelters are ...

February 27, 2019
New Real Estate Investor?  Your Guide to Successful Bookkeeping

The main objective of bookkeeping is to have an accurate record of all the money going in and out of your business.  Having a rental property requires good bookkeeping skills or having an experienced bookkeeper on staff.  When you know how your business is doing at any point in time, you can better manage your business...

February 27, 2019
Construction Companies – Dreaded Profit Fade

Profit fade comes into play when a company’s profit is lower than expected or budgeted.  It can happen in any industry, but it unfortunately happens quite often in construction.  Profit fades are common to construction companies due to the complex nature and some unknown variables in the industry.  Often the cause of ...

February 27, 2019
Careful Tax Planning Required for Incentive Stock Options

Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. They allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the ISO grant date. If the stock appreciates, you can buy shares at a price ...

February 27, 2019
Are Your Employees Ignoring Their 401(k)s?

For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees often grow so accustomed to having a 401(k) that they don’t pay much attention to it.  It’s in your best interest as a business owner to buck this trend. Keeping your employees engaged with their ...

February 26, 2019
Preventing Phoenix Companies From Taking Flight With Your Money

Phoenix companies earn their name because they rise from the ashes of failed companies, trading on the goodwill of the original businesses. Here’s how a phoenix company scheme might work: A company’s owner buys goods on credit, purposely drives the business into the ground and then buys its assets back from liquidators...

February 25, 2019
Financial Market Recap – Week Ending 2/22/19

Top of the morning: Stocks are higher pre-market. As of 7:45 CST this morning, the Dow is up about 160 points and the S&P 500 is up 0.5%. Bond yields are close to where we started the year, with the 2-year Treasury at 2.51% and the 10-year at 2.68%. China local stocks (Shanghai) are up over 5.5%, presumably on optimism...

February 22, 2019
The New and Improved Tax Credits for 2018

The Tax Cut and Jobs Act substantially improved the Child tax credit and introduced a brand-new credit for dependents. The credits effective for year 2018 so be sure to factor these into your tax filings for 2018. Here is a summary of both credits:...

February 22, 2019
Keep Fraud Off Your Restaurant’s Menu

In the restaurant industry, where long hours and thin profit margins are the norm, owners and managers often lack the time and resources to focus on fraud. Unfortunately, restaurants can provide crooked employees, customers and vendors with plenty of opportunities to steal. So you need to be able to recognize fraud ...

February 20, 2019
Financial Market Recap – Week Ending 2/15/19

Stocks around the globe were higher last week, driven by U.S.-China trade optimism and the avoidance of another partial government shutdown. The S&P 500 was up 2.6%, and international developed stocks were 1.4% higher on the week, despite weak growth data from Germany and continued turmoil around Brexit....