The Top Three Mistakes Businesses Make

In today’s business world, getting the basics right is essential; in fact, it’s far more than that, in the bluntest of terms, it’s a matter of sink or swim. What may come as a surprise to some people is that mistakes are made across the board – from newcomers to seasoned business professionals. In this… Read more »

How to Transform Into A Successful Business in 2020

When it comes to finding a successful path in business, there are an excess of trends, lists, and elaborate tactics on how to find the ultimate success. By searching Google with ‘How to be successful in business,’ you will be see everything from tips of “business experts” to the  habits of the world’s most successful… Read more »

Good but not that easy to do- Student loans and 401(k) plans

In August 2018 the IRS “issued a private letter ruling allowing an unnamed employer to make 401(k) contributions on behalf of employees who are repaying their student loans, and although it doesn’t set a precedent for other employers, it’s an interesting development when it comes to fighting student loan debt.”[1] The idea is that employers… Read more »

Are expense reports worth auditing

Many payables functions spend considerable time verifying that all expenditures are documented with receipts. Is this a productive use of the payables function’s time?  Major firms answer no. These companies have switched to company-provided credit cards and random expense reporting auditing. The threat of a random audit will achieve the honesty factor that firms are… Read more »

Changes to the 2019 W-4 form

The federal government requires employees to provide employers with a form W-4 so that the employer can adjust the employee’s income tax withholding to better match employee’s circumstances using IRS-supplied formulas and tables. You may question the accuracy of the historical use of the form and associated withholding tables as most taxpayers were positioned for… Read more »

Supreme Court landmark decision on Sales Tax- Exemption Certificates

The Supreme Court has ruled that states can mandate that companies, previously outside their jurisdictions, must collect sales tax on all transactions to which sales tax applies. As a business, you may say, I am a manufacturer who sells to distributors, my customers purchase for resale. You are correct BUT do you have documentation from… Read more »

Working with Families

In 1995 Sam Deep and Lyle Sussman published Smart Moves for People in Charge, 130 Checklists to help you be a better leader.  Below are some excerpts from that book which are still very true today. Tips for Working with Families When you start a business with family members, handshakes and hugs are fine but… Read more »