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Accounting Processes Matter… A Lot.
A recent ConstructionExecutive.com article (read full article here) mentions how accounting methods in the construction industry affect cash flow and financial reporting. The decision to account for “small tools” purchases as a job cost as opposed to a capital expense absolutely affects near-term financial metrics but can also affect corporate reports and financial statements that bonding companies and lenders analyze.…Read More -
Back to Business
As we wind down our summer vacation schedules (and for those of us with children not a minute too soon!) it’s time to look ahead into Fall and down the road to 4th quarter. A little time spent now planning for the rest of the year will most assuredly spare your company stress and anxiety when the year-end scramble begins.…Read More -
Bringing Jobs Back to the USA
Reshoring remains a hot trend among U.S. businesses. In June, the Reshoring Initiative reported that the United States outpaced Canada and Mexico between 2010 and 2014 in bringing back the most jobs to domestic soil. In the summer months, we celebrate American independence and ingenuity. Another way business owners can show patriotism is to consider whether it makes sense to…Read More -
Virginia Unemployments Rates
Though the title of this article may cause some concern, the numbers for unemployment in the key areas of Virginia are holding steady. Seasonal dips in the rate are not a surprise in the summer months due to slowdowns in certain industries and markets. The trends we observe at Fahrenheit continue to be steadily positive for employers and the economy.…Read More -
Watch Out for Unfavorable ‘Related Party’ Rules
Beware of the tricky "related party" tax rules if you are considering buying or selling business assets or an ownership interest (corporate stock or a partnership or LLC interest).The Internal Revenue Code contains a number of rules aimed at penalizing sales between individuals or entities that are considered closely connected and thus more likely to try to beat the federal…Read More -
Time to Take Another Look at High-Deductible Health Plans?
Enrollment in high-deductible health plans (HDHPs) could gain traction soon, as employers begin to focus on a very attractive feature: These plans have a demonstrated ability to control costs. Also, there is a growing urgency among employers to avoid exposure to the Affordable Care Act's "Cadillac tax," which is scheduled to take effect in 2018. These factors may cause some…Read More -
Handle Payroll Taxes With Kid Gloves
If you operate a business that collects payroll taxes from employees, here's a warning: Regardless of what your corporate financial situation is, don't borrow from the withholding tax fund. If that money isn't there when it's due, Uncle Sam will crack down hard. All businesses face downturns when cash flow dries up. It may be tempting to look at payroll…Read More -
Turning 65 isn’t for the Uninformed!
As we navigate our lives we face a steady stream of choices that will most certainly impact our long-term financial health. Should I buy that awesome new car or save the dough on a used one? Should I rent or buy a home? If I buy, is it better to take out a 15 or 30 year mortgage? Traditional or…Read More -
Proposed DOL Rule May Make Millions More Eligible for Overtime Pay
In his 2015 State of the Union Address last January, President Obama said employees should get the overtime they've earned. He then directed the U.S. Department of Labor (DOL) to review and amend the overtime rules under the Fair Labor Standards Act (FLSA) to make more workers eligible. On June 30, The U.S. Department of Labor issued long-awaited proposed changes…Read More -
Keep Your Best People On Board
The national unemployment rate recently fell to 5.5%, according to a Bureau of Labor Statistics (BLS) report for May. That's a two-point decline since May of 2013. A closer look at the current numbers reveals a 4.5% unemployment rate for all adults at least 25 years of age, and 2.7% for workers having at least a bachelor's degree. Also, in…Read More -
The Lie of Time-Savers
By Russ Gambrel, Senior Consultant At the risk of dating myself, I witnessed the installation of my local bank’s first cash machine when I was kid. It looked like a robot. Boatman’s Bank –since swallowed in countless mergers- was the regional bank of choice for folks in St Louis in the 1980s. My father had suggested I open up a…Read More -
What is the No. 1 Job Skill Needed For The Smart Machine Age?
Darden professor Ed Hess strikes a contrarian view in this article, for both employers and jobseekers in this “knowledge intensive” hiring environment. “Humility” sounds almost like weakness, until Hess defines what that means: be a better listener, open-minded, with a collaborative mindset. Be someone who suspends beliefs (not values) in exploring Innovation. How does a person who has become successful…Read More