In the News

Copyright 2022
In today's tight labor market, small businesses — including restaurants, delivery services, retail stores and manufacturers — are struggling to attract and retain top-quality staff. The conditions are likely to worsen in many sectors as demand ramps up during the summer months. To be competitive with other employers, you'll need to be proactive in identifying candidates with the right fit at a reasonable cost.
Copyright 2022
Let's say you have an unincorporated sideline activity that you think of as a business, including an activity involving horses. If you have a net loss (deductible expenses exceed revenue) on that activity and you think you can deduct that loss on your personal federal income tax return, think again! In IRS audits and in court cases involving money-losing sidelines, the tax agency frequently argues the activities are hobbies, rather than businesses. Be aware that the federal income tax rules for hobby losses aren't in your favor. It can be difficult to prove an activity is a bona fide business. And now, due to a change included in the Tax Cuts and Jobs Act (TCJA), the rules are even less favorable for 2018 to 2025.
Copyright 2022
If your not-for-profit organization expects its board members to play a fundraising role, you probably already know how difficult it can be to motivate them. They're busy people, and even when they have excellent connections, they're not always comfortable asking those in their network for money — however noble the cause. Fortunately, there are ways you can help board members overcome their reservations.
Copyright 2022
There are nuances in providing valuations for virtually every type of business entity ranging from retail outlets to a manufacturing operation to a personal services firms. But valuations for hospitals and other organizations in the health care field are especially daunting. Currently, hospitals face some unique challenges, including difficult economic conditions, increased competition and burdensome reporting requirements. In addition, the provisions in the healthcare law -- the Affordable Care Act (ACA) -- are kicking in, which is further complicating matters.
Copyright 2022
If your company is involved in a product recall, there are certain federal regulations that must be followed. But in addition to complying with the law, a well-handled recall can help ensure customers trust your company and its products in the future As an example of a company that engages in good business practices, Nordstrom has been cited by the Consumer Product Safety Commission (CPSC). In one incident, a customer called Nordstrom to inquire about returning a sweatshirt because her child choked on the zipper pull. The retailer immediately notified all store managers by e-mail to pull the sweatshirts from the floor. A report was quickly filed with the CPSC via the Internet. Nordstrom also promptly announced to consumers the hazard and its offer to exchange the sweatshirt or provide a full refund using a press release, video news release, newspaper advertisements and in-store posters
Copyright 2022
Congratulations! Your son, daughter or grandchild has earned a college degree and is ready to join the workforce. But there's one last "quiz" for you to administer before your child leaves the nest. The decisions your child makes today about spending and saving can mean the difference between struggling for the rest of his or her life and building a solid financial future. Here are seven questions to ask your child once the graduation parties end and the reality of becoming a full-fledged adult settles in.
Copyright 2022

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

April 18

Copyright 2022
Frustrated by rising costs, managed care demands and overwhelming patient loads, a growing number of physicians are converting their traditional practices into retainer-based or "concierge" practices. Under this evolving model, physicians cut back the number of patients they see, spend more time on personalized care and charge each participant an annual fee ranging from $1,500 to $20,000. In short, these doctors receive more money for seeing fewer patients and gain more control over the way they practice medicine.
Copyright 2022
When you hire a nanny, housekeeper or other domestic worker, pay close attention to the tax rules. Over the years, there have been news stories about political appointees and others who got into trouble because they didn't pay nanny taxes. The same could happen to you.
Copyright 2022
Take a look around. If you've been building up piles of scrap, excess raw materials, obsolete equipment, returned inventory and spare parts, you probably need an investment recovery program.

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