Recent News
02/14/2025
On developing an effective IT modernization strategy
Information technology (IT) is constantly evolving. As the owner of a small to midsize business, you’ve probably been told this so often that you’re tired of hearing it. Yet technology’s ceaseless march into the future continues and, apparently, many companies aren’t so sure they can keep up. In October of last year, IT infrastructure services provider Kyndryl released its 2024 Kyndryl Readiness Report. It disclosed the results of a survey of 3,200 senior decision-makers across 25 industries in 18 global markets, including the United States. The survey found that, though 90% of respondents describe their IT infrastructures as “best in class,”...
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07/19/2022
Weathering the Storm of Rising Inflation
Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic? Not at all. As of this writing, a full-blown recession is possible but not an absolute certainty. And the impact of inflation itself will vary depending on your industry and the financial strength of your company. Here are some important points to keep in mind during this difficult time. Government Response For starters, don’t expect any dramatic moves by the federal government. Some smaller steps, however, have...
07/13/2022
Is Your Cloud Provider Still Meeting Your Company’s Needs?
Like many businesses, yours has probably jumped aboard the cloud computing bandwagon … or “skywagon” as the case may be. How’s that going? Some business owners pay little to no attention to a cloud provider once the service is in place. Others realize, perhaps years later, that they’re not particularly satisfied with the costs, features and cybersecurity measures of their cloud vendors. Given the value of the data and documents that you store in the cloud, it’s a good idea to occasionally review your provider and determine whether you’re still making a good investment. Are You Getting These Benefits? As...
06/28/2022
2022 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third 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. August 1 Report income tax withholding and FICA taxes for second quarter 2022 (Form 941), and pay any tax due. (See the exception below, under “August 10.”) File a 2021 calendar-year retirement plan report (Form 5500 or Form 5500-EZ) or request an extension. August 10 Report...
06/22/2022
Checking In on Your Accounts Payable Processes
Accounts payable is a critical area of concern for every business. However, as a back-office function, it doesn’t always get the attention it deserves. Once in place, accounts payable processes tend to get taken for granted. Following are some tips and best practices for improving your company’s approach. Be Strategic Too often, businesses take a reactive approach to payables, simply delaying payments as long as possible to improve short-term cash flow. But this approach can backfire if it puts you on bad terms with vendors. Poor vendor relationships can affect delivery times, service quality and payment terms. A proactive, strategic...
06/02/2022
Dodge the Tumult with a Buy-Sell Agreement
Businesses with multiple owners generally benefit from a variety of viewpoints, diverse experience and strategic areas of specialization. However, there’s a major risk: the company can be thrown into tumult if one of the owners decides, or is compelled by circumstances, to leave. A logical and usually effective solution is to create and implement a buy-sell agreement. This is a legal document that spells out how an owner’s share in the business will be valued and transferred following a “triggering event” such as voluntary departure, divorce, disability or death. Buy-Sell Benefits A well-designed “buy-sell” (as it’s often called for short)...
