VOLUME 3 ISSUE 7 - July 2010
Planning for the inevitable - Tax savings opportunities for 2010
Unlike most years, individual tax planning for 2010 requires a substantial change in the conventional wisdom typically applied.
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Succession Planning - drive growth with a financial dashboard
The continued story of Jim, a co-owner of JS Widget Company, and his latest challenge - finding the right leader to take the company reigns after his retirement.
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Lean in a Recession
Lean is not a quick-fix tactic, but if you aggressively implement Lean you can emerge from the recession better positioned than the competition and poised for growth.
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Bonding in Today's Construction Market
One early sign of economic recovery is the attempt to fill positions that were left open or created by reductions in workforce. But, we are seeing companies tackle their talent acquisition and management very differently than they did in the past.
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Maintaining grandfathered status under health care reform
A grandfathered plan is a policy or group health plan that had at least one individual enrolled in coverage on March 23, 2010, and must have continuously covered someone since March 23, 2010 (even if not the same individuals). If a plan is grandfathered it is exempt from some but not all provisions of the Act.
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Talent Acquisition and Management - The New Normal
One early sign of economic recovery is the attempt to fill positions that were left open or created by reductions in workforce. But, we are seeing companies tackle their talent acquisition and management very differently than they did in the past.
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June 2010
What can we expect next?
In our daily travels as CPA’s, we visit with many clients each week. The topics and questions raised are frequently the same. What do you see out there? Is the economy picking up yet? Will the recovery hold?
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June 2010
Succession Planning - Take a SWOT at your business
The continued story of Jim, a co-owner of JS Widget Company, and his latest challenge - finding the right leader to take the company reigns after his retirement.
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June 2010
IDEA Data Extraction Software - what it does for us... and what it can do for you.
Businesses rely on a myriad of performance and financial data reports to manage, audit and plan. But when something goes wrong, or a special report is needed, the exercise can be time consuming, confounding or downright impossible.
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June 2010
International Financial Reporting Standards and the US Construction Industry
Although planning for an International Financial Reporting Standards (IFRS) implementation may not be a priority in light of the current economic uncertainty, construction companies should consider the opportunities a conversion to IFRS can present.
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May 2010
Sorting out health care reform.
With the recent passage of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively, "the Act"), a multitude of timetables, opinions and advisory notices have been published by countless organizations.
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May 2010
Early phase implementation.
The Act contains numerous short term and long term provisions, the first of which are effective 90 days after passage (June 23, 2010) and continue through 2018.
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May 2010
Health care reform offers Biotech Tax Credit Opportunity
$1 billion is available to qualifying companies from this program.
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May 2010
Health Care Act changes OTC drug reimbursement eligibility guidelines.
Over-the-counter (OTC) drugs, medicines and biologicals must be accompanied by a physician's prescription in order to be reimbursed under health flexible spending accounts (FSAs), health reimbursement arrangements (HRAs) and health savings accounts (HSAs).
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April 2010
Big bang for little buck with business process improvement exercises.
Good business owners and leaders recognize the importance of finding efficiencies for their business regardless of the economic environment. Unfortunately, some business owners are still focusing strictly on reducing costs and ways to increase prices.
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April 2010
Is someone getting tax-free money out of your company?
I am often asked “Can I get money out of my company without paying any tax?” From CPA to business owner, the answer is, short of stealing, no.
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April 2010
ODOD Loan Programs support job creation and retention, capital expansion and innovation.
For Ohio businesses looking to expand product lines, geographic footprints, develop new technologies and overall retain or grow their workforce, support from the State of Ohio may be available.
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April 2010
Social Networking…It’s Not Going Away, So Are You Prepared to Manage It?
As social media and networking become more commonplace, employers need to think about how they’re going to manage this, both in terms of how they deploy this to extend their brands, and how they’re going to manage their employees’ use of them…both at work and outside work.
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March 2010
Succession Planning - Who's really running the store?
The continued story of Jim, a co-owner of JS Widget Company, and his latest challenge - finding the right leader to take the company reigns after his retirement.
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March 2010
Outsourcing gives small businesses more growth opportunities.
Large business owners have the responsibility to ensure that their companies are operating at its optimum level. Small business owners face this same challenge, but with the added strain of scarce resources, limited time and lack of in-house talent.
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March 2010
One year suspension of estate tax may require immediate action.
Current estate tax rules and what Congress may do in the future can impact your estate plan.
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February 2010
Succession Planning - Where do I begin?
The continued story of Jim, a co-owner of JS Widget Company, and his quest for a succession plan that fulfills his ultimate business and personal goals.
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February 2010
IRS Audit Initiative targets payroll tax compliance issues.
You may be one of the 6,000 companies the IRS plans to audit in coming months looking for payroll tax compliance issues.
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February 2010
IRS Moratorium on Sec 263A Calculations for Auto Dealers
Guidance marks a strong departure from current industry practice.
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February 2010
Opportunities Available from Federal Stimulus Money
While there has been much talk of monies for Ohio manufacturers, several million has come into our state for construction and real estate development projects.
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February 2010
Get up to $1500 from... the Government?
Even though 2009 has passed, there is still plenty of time for individuals to take advantage of the U.S. government’s energy tax credits in 2010.
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February 2010
Who Needs Performance Reviews?
Should you bother to do performance reviews if you are not in a position to give merit increases? Yes.
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EFAST 2 for 5500 Electronic Filing - Process for Obtaining Signing Credentials
For the first filing year under EFAST 2, signers must register for filing credentials at the DOL website. Here are instructions.
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January 2010
The Demise of the Year End Audit?
How many times a year do you see or talk to your external auditor? With the implementation of Risk Based Standards and the ongoing changes with GAAP and IFRS, it better be more than just at year end.
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January 2010
What are the benefits of a succession plan?
This first installment in a series of articles considers some of the real life issues faced by business owners as they move through the succession planning process.
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January 2010
Will there be separate financial reporting standards for U.S. privately owned companies?
Many nonpublic entities often ask, “Why do I have to meet the same US generally accepted accounting principles as say a giant like General Motors Corporation?”
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December 2009
2010 offers IRA to Roth IRA conversion opportunity: Should you take it?
2010 will provide an opportunity for IRA holders, who due to income rules were historically unable to make the conversions, to make IRA to Roth IRA conversions as those limiting restrictions have been lifted.
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