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)...
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...
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...
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...
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...
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,...
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...
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...
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...
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....
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...
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...
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...
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...
You’ve just signed a letter of intent to acquire a business. Now what? Typically, a letter of intent provides a 60-90 day exclusivity window for the buyer and seller to perform various forms of due diligence, including (but not limited to) financial and legal. Having...
Without understanding our product costs, we can’t figure out if our products are profitable or what we can do to make them profitable. Keep reading to learn more. Why Knowing Is Important We should all know that when it comes to the economy, anything is...
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...
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...
How To Get Unstuck And The Secrets Of Business Growth Businesses get stuck. It happens. As a result, owners sometimes start looking for new avenues because they think that they have done all that they can. However, that’s not always the case. One solution is to take a...
Today we are eyeball deep into the “online era” which has given us the capability to use online programs such as QuickBooks Online®, Sage Intacct®, and others to record transactions from anywhere using cloud technology. Now, all we need to access these powerful...
Sure, writing up and updating a series of policies isn’t a quick task, but it’s absolutely critical to maintain the safety and security of your government entity. Reviewing your entity’s policies every few years is a great habit to start. Read on to learn which...
Having to wait months to build out some much needed extra space can be disheartening. However, working to improve processes and reduce waste can have positive short- and long-term results. Read on to learn more. How To Make Better Use Of Your Space Your business...
If you feel that business is harder today, you’re not alone. In addition to rising regulatory obligations and relentless technological change, the ability to attract and retain top talent has never been more difficult. To compete and thrive in this environment,...
Under Section 107 of the Employee Retirement Income Security Act of 1974, the party responsible for filing plan reports must “maintain records to provide sufficient detail to verify, explain, clarify and check for accuracy and completeness.” Additionally, under...
