Insights: Consulting Services

Contingency Funding Plans: What to Expect from Examiners

January 28, 2020

With liquidity remaining a regulatory hot button, many examiners are taking a harder look at the areas of Contingency Funding Plans (CFPs) and the stress testing of those plans. This article discusses the key elements that go into developing an effective CFP along with some of the more common exam findings in this area. The…

Read More

4 new law changes that may affect your retirement plan

January 24, 2020

If you save for retirement with an IRA or other plan, you’ll be interested to know that Congress recently passed a law that makes significant modifications to these accounts. The SECURE Act, which was signed into law on December 20, 2019, made these four changes. Change #1: The maximum age for making traditional IRA contributions is…

Read More
Business Value

Why You Need to Know the Value of Your Business

January 21, 2020

According to The Exit Planning Institute (EPI), a national educator for those who specialize in helping business owners sell or transition their businesses, an estimated 4.5 million businesses representing more than $10 trillion in value will transition over the next decade or so.  Of those 4.5 million businesses, only 20% to 30% of them that…

Read More

New law helps businesses make their employees’ retirement secure

January 9, 2020

A significant law was recently passed that adds tax breaks and makes changes to employer-provided retirement plans. If your small business has a current plan for employees or if you’re thinking about adding one, you should familiarize yourself with the new rules. The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was signed…

Read More

Your home office expenses may be tax deductible

January 6, 2020

Technology has made it easier to work from home so lots of people now commute each morning to an office down the hall. However, just because you have a home office space doesn’t mean you can deduct expenses associated with it. Regularly and exclusively In order to be deductible for 2019 and 2020, you must…

Read More

Cost management: A budget’s best friend

December 29, 2019

If your company comes up over budget year after year, you may want to consider cost management. This is a formalized, systematic review of operations and resources with the stated goal of reducing costs at every level and controlling them going forward. As part of this effort, you’ll answer questions such as: Are we operating…

Read More

Do you have a side gig? Make sure you understand your tax obligations.

December 16, 2019

The number of people engaged in the “gig” or sharing economy has grown in recent years, according to a 2019 IRS report. And there are tax consequences for the people who perform these jobs, such as providing car rides, renting spare bedrooms, delivering food, walking dogs or providing other services. Basically, if you receive income…

Read More

2019 Tax Planning Guide

November 12, 2019

Click here to download our 2019 Tax Planning Guide!

Read More

Bridging the gap between budgeting and risk management

October 29, 2019

At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Here are some common types of risks to research, assess and incorporate into adjustments to next year’s budget:…

Read More

At the very least, update the financials in your business plan

October 24, 2019

Every new company should launch with a business plan and keep it updated. Generally, such a plan will comprise six sections: executive summary, business description, industry and marketing analysis, management team description, implementation plan, and financials. Now, ideally, you would comprehensively update each section every year. But if the size, shape and objectives of your…

Read More

SUBSCRIBE TO OUR NEWSLETTER

Receive timely news and updates from our newsletter.