And The Times, They Are A-Changing

And The Times, They Are A-Changing

DOL Looks To Expand Retirement Plan Options For Small Businesses In an effort to make it easier for small businesses to form association retirement plans, President Donald Trump and the Department of Labor have proposed regulations that will ultimately allow small...
The Future CFO And Their Expanding Responsibilities

The Future CFO And Their Expanding Responsibilities

There’s A Lot More To It Than You Think The role of a business’s chief financial officer (CFO) has changed dramatically. In the past, a CFO had three key jobs to handle: tax compliance, financial reporting and maintaining the books for the business. They were...
Get Ready, Get Set … For An Audit or Review

Get Ready, Get Set … For An Audit or Review

  Just thinking of preparing for an audit or review might make you uneasy. It can be overwhelming and time-consuming. However, it does not need to be a daunting task … if you’re prepared. With some preparation, you should not experience any issues or significant...
It’s Okay To Pay Taxes

It’s Okay To Pay Taxes

I spend a fair amount of time talking with clients and prospects in the construction industry throughout our Ohio footprint. I enjoy this quite a bit, whether it’s talking about the industry in general or their business specifically. Of course, this time of year, one...
What Will Your Legacy Look Like?

What Will Your Legacy Look Like?

How would you like to be remembered by your loved ones, friends, employees and the business community? Read on about leaving your legacy. Sometimes The Hardest Questions Are The Most Important What kind of legacy do you want to leave behind? OK, obviously this isn’t...
Better Inventory Management Solutions Do Exist

Better Inventory Management Solutions Do Exist

QuickTips: Tips & Tricks For Bookkeeping Success Over the years, QuickBooks® has emerged as the most popular accounting software for small- to medium-sized businesses and, as you can imagine, different versions are available to suit a range of different business...
When Your Workforce Works Together, Everybody Wins

When Your Workforce Works Together, Everybody Wins

In order to have efficient and effective processes, your employees must shift their focus. Rather than concentrating on the confines of their respective silos, they need to look at the company as a whole – and how their role works with others across the organization....
Are You Ready For This? GASB 84

Are You Ready For This? GASB 84

More Changes To Governmental Financial Statements Whether you prepare your financial statements using the cash basis or GAAP (generally accepted accounting principles) basis, the Government Accounting Standards Board (GASB) Statement No. 84 Fiduciary Activities will...
Big Changes To W-4 Coming Down The Pike

Big Changes To W-4 Coming Down The Pike

The goal of the upcoming W-4 form is that taxpayers should not owe taxes nor receive a refund … but it won’t be easy. Read on to learn more. What To Know About The New Form W-4 This past tax season gave taxpayers our first feel of the changes that stemmed...
Technology’s Time To Shine

Technology’s Time To Shine

Today, the process of choosing an accounting program for your business is similar to deciding on what kind of smart phone to purchase. Each phone has individual applications customized to the operating system they are running on. Similarly, by utilizing add-on...
Data Analytics & Construction

Data Analytics & Construction

How To Build A Smarter Business I’m a big believer in data analytics. I’ve become interested in learning how analytics is utilized across virtually every discipline you can think of – be it accounting, finance, construction, real estate, demographics, sports,...
New Retirement Plan Legislation Keeps Up With The Times

New Retirement Plan Legislation Keeps Up With The Times

House, Senate Look To Fix Current Retirement Plan Issues Plaguing The Nation I remember when I started my career at Rea, the concept of the 401(k) provision within retirement plans was just beginning to take root, and the employers who offered this option to their...
Are You Prepared For The Next Economic Recession?

Are You Prepared For The Next Economic Recession?

It’s Not A Matter Of If … It’s A Matter Of When Don’t get too comfortable in your current business operations. The term “recession” has been making waves recently in the financial industry, and the chatter about this unwelcome visitor has certainly...
Risky Business

Risky Business

Entities need to take a more proactive stance on cybersecurity risks by taking a good look at their systems and work to decrease cybersecurity risks. Keep reading to find out how. No Entity Is Immune To Cyber Attacks As some of you may have heard, Cleveland Hopkins...
Don’t Shy Away From Business Debt

Don’t Shy Away From Business Debt

Traditionally, companies with strong, positive cash flows are those with proper pricing models in place, a healthy labor force, controlled spending and active collections. (Notice that I didn’t say that these companies were debt-free!) How Debt Could Be A Good Thing...
Should You Offer A 401(k) Plan?

Should You Offer A 401(k) Plan?

A 401(k) plan allows your employees to deposit a portion of their paycheck into a retirement savings account. Keep reading to why more and more employers are choosing to provide this benefit to their employees. Hint: The Answer Is ‘Yes’ Offering a 401(k)...
Save Money, Enhance Value With Outsourced Accounting

Save Money, Enhance Value With Outsourced Accounting

The Benefits Of Outsourcing Your Business’s Accounting Services You (like so many other business owners out there) probably handle every aspect of your business. After all, why wouldn’t you? Because it’s your business, it makes sense to be so hands-on all the time,...
IRS Increases 2020 Limits On HSA Contributions

IRS Increases 2020 Limits On HSA Contributions

The annual inflation-adjusted limits on deductions for contributions to a health savings account (HSA) for 2020 were recently released by the IRS. The increases allow for employees to put a little more money into their HSAs next year. These contributions affect...
Putting Board Governance & Policies In Perspective

Putting Board Governance & Policies In Perspective

A job can’t be carried out correctly if you don’t understand your duties. Board Governance For Nonprofit Organizations And The Importance Of Written Policies This may come as a surprise to you, but a major challenge most boards and board members have in nonprofit...
Data-Driven Opportunities For All

Data-Driven Opportunities For All

  Client Advisory Services Delivers Robust Accounting Capabilities To Small- And Mid-Sized Businesses Over the course of your business’s lifecycle, you will face many obstacles; and how you go on to manage them will ultimately determine your short- and long-term...
Opportunities & Limitations

Opportunities & Limitations

  Getting To Know The Qualified Business Income Deduction Corporate tax rates were reduced from a maximum rate of 35 percent to a 21 percent flat rate under the Tax Cuts and Jobs Act (TCJA). So, in order to keep pace with the new corporate rate, the qualified business...
Are You Properly Classifying Your Workers?

Are You Properly Classifying Your Workers?

Why Misclassifying Employees Could Cost You   You may employ hundreds, if not thousands of employees. Or maybe you only employ a handful. Regardless of the number of people you have working for you, the way you classify your workers is important to the federal...