10.11.19

How to Streamline Your Monthly Reporting Like a Boss
Chris Arndt

Monthly reporting is one of those operational necessities that often becomes neglected. Here are three ways you can streamline your monthly reporting.

10.03.19

Retirement Plan Changes Under the SECURE Act
Frank L. Washelesky

For many people, qualified retirement plans make up a large part of their overall savings.  There are many complex rules surrounding qualified plans and Individual Retirement Accounts (IRAs), but there have not been significant modifications for quite some time. That may all change this year as the House of Representatives has passed the Setting Every […]

09.27.19

How’s Your Revenue Cycle?
Kelly H. Buchheit

Do you know whether your practice’s revenue cycle management system is functioning at its peak potential? If not, your practice might be headed for trouble. To keep your practice financially healthy, you may want to assess the system’s strengths and weaknesses to make sure it is operating in a way that will maximize revenue and minimize waste.

09.26.19

How to Prepare for Your Audit
Caitlin G. Gibbs

It’s that time of year again: Your annual financial statement audit. You want it to go as smoothly as possible, but you are not sure what you need to do in order to make it happen. Here are some best practices and helpful tips to improve the efficiency of the audit.

09.25.19

Using Cost Segregation Studies for Like-Kind Exchanges
Tamara Partridge

Cost segregation studies have been utilized by many property owners to take advantage of accelerated depreciation methods, including bonus depreciation and Internal Revenue Code Section 179 expense deductions. Accelerated first-year deductions do not change the total amount of deductions over an asset’s useful life, but they do change the timing of deductions. This lowers taxes and generates extra cash flow in the year an asset is placed in service.

09.23.19

A New Recipe for Lease Accounting: How Will It Affect Your Restaurant?
Christopher Georgiou

Many restaurants rely on leasing to acquire essential assets, from physical space and furniture to kitchen and bar equipment to point-of-sale (POS) systems. If your business has a substantial number of leases, be aware that new accounting rules — which bring most leases onto the balance sheet — may have a significant impact on your […]

09.17.19

Make Your Summary Plan Descriptions User-Friendly
Stephanie Zaleski-Braatz

The language in the Summary Plan Description (SPD) is usually a combination of wording from cautious Employee Retirement Income Security Act (ERISA) attorneys and human resources professionals who are concerned with the use of too many general, simple statements. The result is often a complicated document that many employees receive, glance at and toss into […]

09.16.19

Five Steps to “Recession-Proof” Your Business
Kenneth Tornheim

The manufacturing industry has enjoyed several years of prosperity. But no business is recession-proof. Proactive owners take steps, while times are good, to prepare for inevitable downturns in financial performance. Here are five strategies to consider. Monitor Cash Flow Shore up your cash flow management practices now. Project your cash flow three and six months […]

09.13.19

Roles of the Finance Committee
Kevin Omahen

The finance committee is charged with overseeing and keeping the board of directors informed of an organization’s overall financial health. Ideally, this entails more than simply scanning financial reports. The most valuable finance committees take a strategic role when it comes to oversight and planning. Active involvement not only pays off with robust financial governance, […]

09.12.19

The Call’s Coming From Inside: Fighting Fraud in Your Firm

Law firms usually are known to be staffed with highly educated and intelligent people, but they are not immune to fraud. In fact, law firms generally share characteristics with other businesses that can make them particularly vulnerable. That is why your law firm needs to know what to look for and how to protect itself […]