Welcome to the second installment of our Comprehensive Budget Series. Previously we explored the why, when, and how of budgeting. In this article, we’ll focus on the practical steps involved in building a budget that aligns with your goals and supports your...
Effective fundraising is critical for many not-for-profit organizations to fully fund their programs and execute the mission. But how do you know if your fundraising efforts are effective, and you are using the best strategy? Analyzing key fundraising metrics can...
Employee Benefit Plans (EBPs) play a crucial role in securing the future of millions of workers. However, with the rising tide of cybersecurity threats, these plans are increasingly vulnerable to attacks that could compromise sensitive data and assets. Understanding...
As a business owner, expanding your operations into new states can be an exciting prospect. However, with growth comes new responsibilities, including the obligation to file taxes in those states. Unfortunately, not all businesses are aware of the potential pitfalls...
Inventory management is a critical component that can make or break a company’s success when it comes to manufacturing. Effective inventory management ensures that you have the right materials, in the right quantities, at the right time, and in the right place....
This summer, the Buckeye State is rolling out an expanded tax-free holiday that promises to boost sales and offer substantial savings. But there are also some challenges that businesses should be aware of. From July 30 to August 8, 2024, Ohio will suspend sales tax on...
As a not-for-profit leader, you’re passionate about your mission. But to effectively serve your community, you need solid internal controls. Let’s dive into practical steps to protect your organization and enhance its financial integrity. The Importance of...
As a business owner, you’ve poured your heart and soul into building your company. But have you given thought to what happens when it’s time to step away? Exit planning is a crucial step that many entrepreneurs overlook, often until it’s too late....
Imagine this: Your small manufacturing company just landed a lucrative contract with a client in another state. You’re thrilled about the growth opportunity, but unbeknownst to you, this single deal has just triggered tax obligations in a state where...
Cybercriminals are increasingly targeting the construction and real estate industry. One of the most prevalent threats? ACH fraud. Here’s what you need to know to protect your business: Key Takeaways: ACH fraud cost businesses over $1.2 billion in 2021...
Accountability stands as a cornerstone principle, essential for maintaining trust with donors, stakeholders, and the broader community in any not-for-profit. At the heart of ensuring this accountability lies audits and reviews, critical processes that provide...
You are probably getting lots of advice on how to run your business. But what if thinking ahead for year-end tax planning makes the difference in how successful your year can be? This could be the key to putting more money back into your business and setting yourself...
As we conclude our budgeting series, it’s time to bring together all the insights and strategies we’ve discussed to help you achieve financial mastery. Living within a budget is not just about limiting spending; it’s about empowering yourself and business to make...
Fundraising is the lifeline of not-for-profit organizations, from small community groups to large foundations. While securing initial donations is crucial, the real challenge often lies in donor retention—transforming one-time gifts into regular contributions and...
Congratulations! You’re considering taking the leap into practice ownership. It’s an exciting time, filled with possibilities – and, let’s face it, a fair share of uncertainties. As you embark on this journey, you might wonder, “Why do I need a...
We’ve recently become aware of two recent tax fraud schemes targeting businesses across the country. As your trusted advisors, we want to ensure you have the information needed to protect your business and personal data. Form 5102 Scam: Fake Beneficial...
As a not-for-profit leader, you’re passionate about your mission. You’re changing lives, improving communities, and making the world a better place. But here’s a curveball you might not have seen coming – when it comes to taxes, your...
Clear communication is essential in any professional partnership. Whether you’re working with our firm or considering hiring another CPA, understanding these key points can help you get the most out of this important relationship. 1. Once I hire a CPA firm, they...
Did we lose you at “financial statement”? What may seem like a dull document could be the secret weapon to skyrocket your practice’s success. Let’s take a step back. Let’s think about this from a different perspective. Think of the dashboard of your car. Your car’s...
If you’re running a business in manufacturing, you’re no stranger to the challenges of managing finances. But here’s a question: Are you giving your cash flow the attention it deserves? If not, you might miss one of the most powerful tools in your...
As an employer, you recognize that choosing a retirement plan for your employees is a pivotal step in securing their financial well-being. One of the key decisions they’ll face on this journey is choosing between a Roth and a traditional pretax 401(k). We...
Recent hurricanes impacting Florida and several other states have created significant challenges for residents and businesses. Rea is committed to helping you understand and maximize the information available for tax relief and assistance programs. Here’s a...
As business advisors serving Ohio’s dental community, we’re seeing a significant shift in how dental practices will operate and grow, thanks to recent legislative changes. Senate Bill 40, signed into law by Governor Mike DeWine, introduces two...
Every not-for-profit has a story worth protecting. While daily operations and program delivery often take center stage, implementing strategic risk assessment practices can transform your organization’s ability to serve and grow. Understanding and managing...