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Making your Budgeting Process a Foundation for Growth
Lou Marmo, Managing Director March 2014 One of the best ways to ensure that your strategic plan does not end up collecting dust on a bookshelf and instead becomes the foundation of growth in your company is to shift your budgeting process from one that is focused on just numbers to an operating plan with real actions tied to it.…Read More -
Transfer Pricing: Maximize Opportunities and Minimize Risks
Today's global marketplace has made transfer pricing one of the most important concerns for companies with foreign operations. Not only do these businesses have to comply with complex regulations, the IRS and tax authorities worldwide have intensified their audit focus on the way companies value goods and services between their related entities. Here are five considerations to help minimize your…Read More -
Welcome Little GAAP
Welcome Little GAAP Michele Bannon, Senior Consultant February 2014 For decades, small business owners and other proponents have argued for relief from the costly and complex standards issued by the FASB. Apparently, someone finally decided to listen. It’s time to pop the champagne and do your “happy dance” because relief is finally on its way! On January 16, 2014, the FASB issued two…Read More -
Business Lessons at 20 Below
BUSINESS LESSONS AT 20 BELOW Russ Gambrel, Senior Consultant - January 2014 I was recently posed the question about whether I would trade the wisdom one accrues over hard-fought decades for something as shallow as youth. My response was both immediate and unqualified and, I believe, sounded like HECK-TO-THE-FLIPPIN-YES!! Go ahead and keep all your head knowledge…just give me back…Read More -
When Talking ERP Needs, Does Business Size Matter?
Julie Stepp, CPA Senior Consultant - Fahrenheit Finance November 2013 Since When Does Size Not Matter? Take it from me, guiding an organization down the path to ERP implementation is a maddening exercise when things go right…and a catastrophic nightmare when they don't. The path to implementation is fraught with hazards. If the requirements are not properly ‘brainstormed’…Read More -
Concrete Steps to Cut Healthcare Spending
It's widely believed among experts that as much as one-third of spending on medical services is wasted and worthless. Last year, the American Board of Internal Medicine Foundation and Consumer Reports teamed up to launch the "Choosing Wisely" campaign. Each of the 39 medical specialty societies has, within its arena, identified five specific medical screening or treatment procedures which are…Read More -
Court Decisions Make It Easier to Deduct LLC Losses
What happens if you're the owner of a limited liability company (LLC) that generates tax losses, and you don't spend a lot of time in the activities of the business? The losses might be classified as passive, and your ability to currently deduct them might be severely restricted by the passive activity loss (PAL) rules. A number of court decisions…Read More -
Don’t sweat the small stuff…at your Peril
Don't Sweat the Small Stuff Russ Gambrel, Sr Consultant Fahrenheit - October 2013 I recently attended the Global Leadership Summit and walked away after two days full-to-brimming with energy and motivation to make a bigger difference in my organization. GLS has become a global phenomenon and I can’t recommend a better national seminar to which you should devote CE/Training hours…Read More -
Outgrowing QuickBooks?
Outgrowing QuickBooks? Are you sure you’re ready for the transition? Doug Jones, Fahrenheit Finance August 2013 Intuit’s QuickBooks is the accounting package most commonly used by small and mid-sized businesses. Over the years Intuit has added many features and options, and the current QuickBooks Enterprise version is a pretty robust accounting package. It still, however, is basically just that…an accounting…Read More -
A Special Tax-Saving Election When Buying an S Corp
Here's a bright idea for buyers of S corporations. There's a favorable way to buy the stock and have the transaction treated as a direct asset purchase for federal tax purposes. If a C or S corporation is making a taxable acquisition of an S corporation, the preferred approach is often to buy the assets rather than all the stock.…Read More -
Which Employers Must Pay the New ‘PCORI’ Fee Due July 31?
Some employers face a July 31 deadline to pay a new fee required under the Affordable Care Act. The fee must be paid by employers who sponsor self-insured health plans, including health reimbursement arrangements and flexible spending arrangements. The new requirement may take some employers by surprise -- and, of course, there are penalties for failing to comply. Our article…Read More