The mergers and acquisitions (M&A) market was hot last year, and that momentum is expected to continue in 2019. Before acquiring another business, however, it is important to do your homework. Conducting comprehensive due diligence can be a daunting task, especially if you have never...
When an employer decides to sponsor a retirement plan for employees, it takes on great responsibility. Anyone who exercises discretionary authority over any vital facet of plan operations likely will be considered a plan fiduciary. In turn, these individuals face a significant risk of liability...
January is a good time to review your insurance coverage. In particular, you should be sure you have adequate auto insurance if you own or lease one or more cars. Reviewing your current policy might not be simple. You likely will find terms such as bodily...
An operating reserve is an unrestricted and relatively liquid portion of a non-profit’s net assets. Securing this reserve for use in emergencies or simply when your budget falls short is critical to your organization’s security and long-term survival. Long-term effort Building an adequate operating reserve takes time...
Data drives everything, including the very buildings in which companies operate. If your business is considering upgrading its current facility, or moving to or constructing a new one, it is important to be aware of ‘smart’ buildings. A smart building is one equipped with a variety...
While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks and, in some cases, due to their filing status. However, some...
From invoices and payments to discounts and write-offs, many business transactions are recorded to accounts receivable. This makes receivables a popular fraud target, but your business does not have to become a victim. Common schemes Receivables fraud occurs when dishonest employees divert customer payments for their personal...
All businesses: Give annual information statements (IRS Forms 1099) to recipients of certain payments you made during 2018. Payments that are covered include: (1) compensation for workers who are not considered employees; (2) dividends and other corporate distributions; (3) interest; (4) medical and health care...
Business owners sometimes mistakenly equate profits with cash flow. Here is how this can lead to surprises when managing day-to-day operations and why many profitable companies experience cash shortages. Working capital Profits are closely related to taxable income. Reported at the bottom of your company’s income statement,...
When you read the word ‘mentor,’ you might envision an older individual patiently and eloquently passing along decades’ worth of knowledge to a wide-eyed young student. Indeed, this is a kind of mentoring relationship that still exists and can prove beneficial to many organizations. However, there...