A not-for-profit organization needs to have a succession plan in place to ensure the continued existence of the organization during transitions of the trustees, in the same way that a for-profit business puts these plans into place. Many not-for-profit organizations have a board of volunteer trustees that interact with the staff and make governing decisions that are in the best interest of the organization. Staff is usually comprised of an Executive Dire Read More >>
Being in business is not easy considering common challenges such as labor issues, raising supply costs and slow paying customers, but not much stings worse than when a customer of yours defaults on their trade receivables and your company does not get paid for a product you have already produced and delivered.
On average, 40% of a company’s assets are in the form of trade debts (i.e. accounts receivable). Sometimes the figure is far higher. It Read More >>
It’s no secret that the economy is currently on the upswing. In Northeast Ohio, new construction and building renovations are prevalent throughout the region. There are ample opportunities for economic growth as property values rise, new businesses emerge and more investors tie money into the market. Cleveland is a great example of a recovering economy. Pockets of the city are emerging as trendy neighborhoods, complete with new townhouses, apa Read More >>
As we move into Q4, now is the time to begin year-end tax planning.
The new Section 199A may be the most radical change of last year’s historic tax reform bill, and one not to be overlooked. Section 199A gives a 20 percent deduction of qualified business income to pass-through entity owners. The deduction has two components.
- Eligible taxpayers may be entitled to a deduction of up to 20 percent of qualified business income (QBI) from a domestic business opera