How To Introduce Client Opportunity Plans Into Your Business In 2015, Rea’s annual revenue was $30.5 million. We had 10,858 clients and 215 employees in 10 offices. We were the 98th largest firm in the country. Today, we are a $52.9 million firm. We have more...
Robotic Process Automation Is A Game-Changer In The World Of Advisory Services In recent years, businesses have embraced the benefits of robotic process automation (RPA). From carrying out mundane tasks to ensuring accuracy and consistency, RPA has allowed your...
Keep The IRS Away By Avoiding These 10 Audit Red Flags Wondering how can you avoid being flagged for an audit? Read on to discover common audit red flags and what to do to ensure you don’t make these 10 audit-triggering mistakes. It’s hard to believe the...
Implementing enterprise resource planning systems can streamline the process With so many variables to consider, establishing a pricing strategy for your business might seem like a monumental task. Even so, effective costing and pricing models are essential if you’re...
Nexus Has Evolved: Why Your Business May Be At Risk And Why It Matters Whether your business relies on out-of-state subcontractors or independent agents, sells products or services across state lines, or employs talent outside of your state, a variety of tax...
Important Changes to Public Records Training for Community Schools Recent industry guidance may change how treasurers and board members receive public records training. These changes affect both the training methods and approved sources. Stacks of document paper and...
Cost Segregation is a strategy for increasing cash flow and reducing income taxes for commercial & residential property used in a trade or business. The tax benefits of cost segregations can be applied to real estates like hotels, restaurants, office spaces,...
Being a business owner is hard work and keeping your business running can be overwhelming. Sometimes you might even feel like you’re “flying blind”, without access to the data to make informed business decisions. Managing the data that keeps your business afloat can...
As we are finishing up year two of the COVID-19 pandemic, businesses are understanding more than ever the importance of their supply chain and the impact it can have on their operations. In the past, finding materials that were needed to operate your business usually...
The Convergence of Market Forces Call it the perfect storm. Baby Boomers have reached retirement age. They’re making the largest generational wealth transfer in history. International investors hunger for American businesses. They consider these...
As the complexity of financial management increases, many small businesses are missing a higher level of accounting knowledge and practice. In some cases, the owner is trying to “do it all,” and in others, controllers or CFOs have not remained current with the rapid...
There are a few things that we can count on with the arrival of each New Year: Champagne toasts at midnight, well-intentioned New Year’s resolutions, and erroneous late notices from the IRS and DOL. Like in years past, the IRS and Department of Labor periodically...
Understanding the Research and Development (R&D) tax credit will provide reliable opportunities to lower your company’s tax burden. What Is the Research and Development Tax Credit? The R&D tax credit is available to businesses developing or improving company...
As values of businesses, real estate, and investment portfolios continue to rise, now is the time to develop and implement an estate plan for taxpayers considering the future transfer of wealth. While legislative proposals in 2021 dropped any near-term changes in...
Why it is important to starting thinking about succession planning for your business While it may be hard to fathom a time when your business won’t be part of your life, deciding how to leave your business is an important part of being a business owner. But which...
Cost Savings, Risk Mitigation and Flexibility Many 401(k) pooled plan solutions are available to retirement plan sponsors today, and most plan sponsors are familiar with solutions like multiple employer plans (MEPs) and pooled employer plans (PEPs). But one of the...
Construction Economic and Financial Update Columbus, OH has grown 12.20% from 2010-2020, making it the fastest growing city in the Midwest. In November 2021, new construction in central Ohio was valued at $5.8 billion dollars. Despite the COVID-19 pandemic, commercial...
March 2022 marked two years since the first confirmed COVID-19 case in the United States. At that time, it was unclear whether COVID-19 would last a few weeks or a few months. Unfortunately, battling the novel coronavirus has lasted over two years and it appears the...
Wondering what that letter your auditor just sent you is all about? Don’t just file this new letter away, take the time to read its content What Is The SAS 114 Letter & What Should You Report To The Board? The audit is over. You can finally check that...
New Guidance Requires Proper Reporting With Statement Of Functional Expenses Those who know me, know I enjoy spending time in nature – mostly hiking and camping. It helps me function better in my everyday life. And while I’d love to write more about that, this month...
Close up young woman with calculator counting making notes at home, hand is writes in a notebook. Savings, finances, concept. Editor’s Note: We continue to get questions pertaining to the mid-quarter convention. So, to help you understand it a little better, we...
New Auditing Standard Highlights Plan Fiduciary Responsibilities Plan managers and administrators must understand their fiduciary responsibilities as a new auditing standard takes effect this year for most employee benefit plans. The Statement on Auditing Standards...
Outsourcing of accounting and bookkeeping support services is an increasing trend among many businesses and is growing quickly in the restaurant industry. It’s a solution that addresses a confluence of factors affecting restaurants these days, especially restaurant...
Cost Segregation Can Help Minimize Recapture Tax When a property owner sells an asset, they face depreciation recapture tax. This applies to assets previously used to offset ordinary income through depreciation. Depreciation recapture closes a tax loophole....
