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Feb 15, 2018 9:00:00 AM

When Will the IRS Start Providing Guidance on the New Tax Law?

Now that the Tax Cuts and Jobs Act of 2017 (TCJA) has become law, taxpayers are looking forward to additional guidance from the IRS and Treasury Department on the various provisions.

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Topics: Tax Reform

Dec 21, 2017 12:00:00 PM

Tax Reform is Coming to Town

The largest re-write of US tax law in over 30 years is now complete and subject only to the President’s signature. The details are voluminous and initial guidance should appear in the next few weeks. However, as most of these provisions are in effect starting 1/1/18, it is important now to understand the major changes at least at a high level so we can ask the right questions as we engage in end-of-the-year tax planning. Here's a look at some of the highlights in the new tax plan and how they'll affect you:

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Topics: Tax Reform

Nov 30, 2017 11:30:00 AM

Trump’s Twitter Deletion Illustrates 2 Oft Overlooked M&A Due Diligence Issues

Every now and then when I get a few minutes to myself I like to catch up on recent news. Frequently, what starts as a break from work turns into another lesson learned that I need to keep in mind when helping clients. For example, the recent suspension of President Trump’s Twitter account pointed out two areas that clients often overlook when contemplating a merger or acquisition. First, the ability of one rogue employee to suspend the account offers a stern reminder that even a tech giant like Twitter can have insufficient IT security in place to protect its users and data. Second, the desire of one rogue employee to give the company such a black eye points out that internal culture will play a critical role in the success of a merged company going forward.

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Nov 21, 2017 10:00:00 AM

Tax Reform Hits a Critical Juncture

Over the last week, the pace of work in Congress on tax reform has picked up substantially. The House passed the “Tax Cuts and Jobs Act” last Thursday, and the Senate Finance Committee reported out their version of the bill that evening. After this week’s Thanksgiving recess, the full Senate will begin to consider their bill starting next week. Most, but not all, provisions would be effective in 2018.

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Nov 3, 2017 9:00:00 AM

House Tax Reform Details Unveiled

The House Ways and Means Committee just released the details of their tax reform bill and will start hearings next week. The Senate Finance Committee will roll out their companion legislation in the next couple weeks.

Many of the provisions are similar to those of the joint framework released in late September. However, now we have more specifics, albeit with many gaps still remaining.

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Topics: Tax, Tax Reform

Oct 12, 2017 10:30:00 AM

How Ikea Thought Outside the Box

If you’ve never shopped at Ikea yourself, chances are that you know someone who has. And you’ve likely heard a horror story about attempting to assemble one of the furniture giant’s shipped-flat products. (If you still don’t know what I’m talking about, search the Internet for “Ikea assembly horror stories” and you’ll quickly get up to speed on the tragi-comic experiences that so many customers have shared.) Ikea has heard plenty of these stories, too, and a recent strategic move by the company shows that they have listened and adapted.

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Topics: Innovation, Anticipatory

Sep 28, 2017 10:00:00 AM

Tax Reform Starts to Take Shape

After fits and starts over the last nine months, a broad tax reform plan is now beginning to emerge between Congress and the White House.

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Topics: Tax Reform

Sep 21, 2017 1:00:00 PM

Weighing the Risks and Benefits of ESOP

True to its name, an employee stock ownership plan (ESOP) is a type of employee benefit plan, similar in some ways to a profit-sharing setup. The National Center for Employee Ownership (NCEO) estimates that approximately 14 million workers currently participate in an ESOP, making it the most common form of employee ownership in the U.S.

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Topics: ESOP

Aug 17, 2017 10:00:00 AM

Cyber SOC:  What Middle Market Board Members Should Know

The AICPA has issued a much-anticipated standard on cyber security. The new guidance, referred to as the “Cyber SOC,” creates a process that CPA’s can use to review and report on a company’s cyber security. In the past, organizations relied on various consultants, internal resources, and sometimes just plain luck, to identify and mitigate cyber risks. The Cyber SOC fundamentally changes how cyber threats are evaluated and managed. It allows for an independent, objective look at an organization’s processes, policies and controls around cyber risks. 

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Topics: Data Breach, Cyber Security

Aug 3, 2017 1:00:00 PM

Balancing Growth and Profitability

Planned growth starts with forming a vision and identifying the steps necessary to achieve it. But the business environment will undoubtedly change as time passes and you implement your plan. Growth plans have to be balanced against the need to maintain profitability as well as the certainty of the unexpected emergency. Once you have a solid vision for your business, you need to get key decision makers on board with managing short-term budget effects in order to realize the long-term value of solid growth. It almost sounds easy when we say it in a blog like this, but it can be the hardest part of getting a business to break through to the next level.

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Topics: Growth

Jul 27, 2017 10:30:00 AM

Dreaming Bigger: Maintaining the Pace of Growth Beyond Startup

Few things can match the excitement of the first day of business. For many people, it’s the realization of a career-long dream to be their own boss. Even for the serial entrepreneur who has been through the process multiple times, there’s still an adrenaline rush when the website goes live and/or the doors unlock and all of the planning and preparation comes together.

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Topics: Strategy, Growth

Jul 21, 2017 9:00:00 AM

Fresh Funding Ideas to Fuel New Growth

Just about every business that creates a business plan will project some growth. While it’s important to set an intention around growth at the start of the year, it takes more than just a number in a forecast to successfully grow throughout the year. In many cases, it will take new money to make new money. Does your business plan account for the funding necessary to support your growth projections?

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Topics: Strategy, Growth

Jul 13, 2017 11:30:00 AM

A Checklist to Prepare for Growth By Merger or Acquisition

Many of us rely on lists and step-by-step instructions to get us through some of the simplest tasks in life, like grocery shopping. And yet, when it comes to something as complex as the sale or acquisition of a business, many entrepreneurs and executives are willing to “wander the aisles” aimlessly trying to figure a transaction out instead of doing the basic planning that they use to make a trip to the supermarket successful. If your business plan calls for a merger or acquisition, here’s a suggested checklist to keep your transaction on track.

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Topics: Merger & Acquisition