In the realm of construction projects, effective cost management is vital for success. Keeping expenses under control, accurately tracking costs, and ensuring profitability are key objectives for construction companies. Fortunately, there are several techniques and...
As a business owner, you are constantly seeking ways to enhance efficiency, minimize costs, and drive your company toward greater success. One crucial aspect that can significantly impact your bottom line is understanding the importance of spend management for...
There have been several recent changes to Ohio’s operating budget for the biennium ending June 30, 2025. These changes encompass various tax provisions that may significantly impact your financial landscape. As your trusted Rea advisors, we aim to keep you...
As a responsible business owner, you know the significance of Employee Retention Credits (ERC) provided by the IRS to help businesses retain their workforce during challenging times. However, with the benefits of ERC comes the risk of scams and fraud targeting...
An issue has been identified with IRS reporting related to Form 8955-SSA that may impact some of our clients, and we want to ensure that you are informed and well-prepared to address any concerns that may arise. Summary of the Issue We have become aware of a glitch...
In the dynamic world of dental practice management, the balancing act between patient care and administrative tasks can often become overwhelming. Many dental practice owners find themselves wearing multiple hats, trying to juggle clinical excellence, patient...
The Inflation Reduction Act of 2022 provides numerous tax credits for clean energy initiatives. While too voluminous to list each credit and requirement, below are some programs that may benefit taxpayers who are interested in clean energy. Investment Tax Credit (ITC)...
What Is the Corporate Transparency Act? The Corporate Transparency Act (CTA) is a federal law aimed at protecting national security and helping prevent money laundering through shell and front companies. When entities are created through the State, their beneficial...
Ohio Tax is embarking on a significant transformation of its internal software and taxpayer portal. It promises to bring a more user-friendly and modern experience to taxpayers and practitioners alike. This new system is live as of early September. Many details can be...
In the evolving landscape of business, one constant remains: the undeniable importance of sound financial management. For any organization, from startups to established enterprises, the path to success is paved with fiscal responsibility, strategic decision-making,...
The recent national news about minors being employed in roles unsuitable for their age group has shed light on the delicate issue of hiring underage workers. As businesses strive to remain productive and profitable, the importance of adhering to labor laws and...
Ohioans voted in favor of Issue 2, a significant change in the state’s legal landscape, with approximately 57 percent of voters supporting the measure. This decision legalizes the purchase, possession, and cultivation of marijuana for adults aged 21 and older,...
In a world brimming with innovations and rapid technological advancements, it’s fascinating to see how traditional processes evolve. Accounting, the respected language of business, is no exception. As businesses transition to digital landscapes, the realm of...
Staying ahead of the curve is essential to any business. To thrive in this competitive landscape, companies are turning to the power of big data analytics. Imagine removing the guesswork, having the ability to optimize production, streamline supply chains, and enhance...
In the dynamic landscape of manufacturing, Flextur stands out as a strategic partner, providing innovative solutions for the industry’s ever-evolving challenges. Flextur is a metal manufacturer with a product offering focused on industrial workflow solutions,...
Running a business is no small feat. Doing so during uncertain economic times compounds the challenge exponentially. While bringing value to your community and doing what you love is incredibly rewarding, it does not eliminate the stress and risk that comes with...
Betting on sports, especially around big events like the Super Bowl, college football rivalries, or college basketball’s March Madness tournament, has become a staple in many workplaces, including not-for-profits. They’re seen as a fun way to engage...
Running a successful restaurant is no easy task. Every element must come together exactly right, from recipes to staff to finances. However, one often overlooked part is inventory management. You might be thinking, “Does it really matter if I count inventory at...
Employee retention stands as a cornerstone of sustainable success. As key talent trickles out, revenues suffer a direct hit, underlining the domino effect of not holding onto essential personnel. Beyond tangible losses like training expenses, businesses grapple with...
The Corporate Transparency Act (signed into law on Jan. 1, 2021) expanded anti-money laundering laws and created new reporting requirements for certain companies doing business in the US. Beginning in 2024, many small businesses are required to report information...
Embarking on the entrepreneurial journey is a bold and rewarding endeavor, but it comes with unique challenges, especially regarding retirement planning. As author Stephen Covey wrote, “Begin with the end in mind.” Your financial future is intricately tied to the...
Do you know that a significant percentage of small and mid-sized manufacturing businesses do not have an annual operating budget? As you explore how a budget can drive important business decisions, this introductory article marks the beginning of our comprehensive...
As of July 31, 2024, new subscribers can choose between QuickBooks® Online (QBO) and QuickBooks® Enterprise. Existing subscribers will still be able to renew their QuickBooks® Desktop Pro and Premier subscriptions, but these options are no longer available to new...
Fostering an incredibly positive and productive workplace culture may sound like a pipe dream in today’s business environment—but it has become a necessity if you want a company that grows successfully. Companies that excel in creating such environments don’t...
