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Oct 20, 2016 10:00:00 AM

Trucking Regulations to Increase in 2017: Are You Prepared?

As I’m sure you’re aware, the trucking and logistics industry is one of the most regulated industries in the United States. Almost everything a trucking company does is governed by regulations, and complying with regulations is sometimes daunting and often frustrating. Ignoring applicable laws, however, can lead to heavy fines and losses in revenue.

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Topics: Regulations, Trucking, EPA

Oct 13, 2016 10:00:00 AM

Wells Fargo Scandal: How to Avoid the Fraud Pyramid and Its Costly Effects

A colleague told me a story about fraud at a retail chain where she worked after college. The company was having a problem with cash theft in one particular store, so the district manager scheduled polygraph tests for the cashiers to find the culprit or culprits.

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Topics: Audit, Fraud, Internal Audit

Oct 6, 2016 10:00:00 AM

Family-Owned Businesses: The Heart of the U.S. Economy

Family-owned businesses really are the heart of the U.S. economy. Forbes magazine estimates that 90 percent of all U.S. businesses are family-owned or controlled by a family. More than that, family-owned businesses account for 50 percent of the U.S. Gross National Product. Clearly, they are critical to the stability and growth of the U.S. economy, as well as to job creation.

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Topics: family owned business, succession planning

Sep 29, 2016 10:00:00 AM

New DOL Overtime Rule: What Are You Risking by Preparing Alone?

From time to time, I talk with a retired HR executive who stays up to date on significant HR related issues. Lately, he’s been working on the new Department of Labor overtime rules, and I found his comments significant as we work towards the new rule’s deadline on December 1, 2016.

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Topics: Overtime Rule, DOL, FLSA

Sep 22, 2016 11:30:00 AM

Prepare Your State Tax Audit Team Like a Winning Football Team

I was thinking the other day how similar football and state tax audits are. Stay with me here.

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Topics: Audit, Tax, Preparation

Sep 15, 2016 10:30:00 AM

New Lease Standard Requires New Definitions & Judgment

The HORNE team has written quite a bit about the new revenue recognition and lease standards, but the new rules will impact the telecommunications industry more than other industries. In this blog, I’d like to provide information for telecom companies to assist them with managing their finances and operations, as well as developing the judgment necessary to identify what actually constitutes or contains a lease.

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Topics: Revenue Recognition Standard, Lease Standard, Telecommunications

Sep 8, 2016 10:00:00 AM

Preventing the ‘Seven-Year Itch’ in Your Business Relationships

Before becoming a parent I believed being married was the hardest thing ever.  Of course, after 13 years of proper training, my wife has almost whipped me into shape.  Forget the “seven-year itch,” she was probably ready to kick me to the curb after about two weeks.  Thank goodness she didn’t.

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Topics: Relationships, Communication

Sep 1, 2016 10:30:00 AM

Struggling Communities Benefit from NMTC Program; Investors Benefit from Tax Credits

Last month, the City of Detroit demolished the 10,000th vacant home in Mayor Mike Duggan's massive plan to eliminate blight in the city. Detroit was hit hard by the recession of 2008 and the corresponding drop in residential property values. As home values declined, homeowners couldn’t afford their mortgage payments and went into foreclosure. Currently, Detroit lists almost 140,000 homes in the foreclosure process with more foreclosures on the way.

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Topics: NMTC, New Market Tax Credits

Aug 25, 2016 10:30:00 AM

Can You Read the Road Signs on the State Tax Highway?

During a recent trip driving to a tax conference, I found myself in a location where cell phone coverage was non-existent. I was depending on the map app on my phone to navigate the back roads for a shortcut to my destination, and no coverage meant I was on my own to find the way. Thinking I could just find the road sign to my next turn proved to be a really bad idea.

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Topics: Tax, State and Local Tax

Aug 18, 2016 10:00:00 AM

How Will the New DOL Overtime Rule Affect Your Business? Mistakes Could Cost Thousands

Are you ready to implement the Department of Labor’s new overtime rules when they go into effect on Dec. 1, 2016?

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Topics: Overtime Rule, DOL, FLSA

Aug 11, 2016 10:30:00 AM

What Might Happen vs. What's Actually Going to Happen

I don’t know if you’ve ever attended a Meet the Firms event—it’s similar to a career fair but specific for the accounting field. Colleges and universities hold them to help graduating students make connections with hiring firms. When I was at The University of Southern Mississippi, the process consisted of waiting in boring long lines, crowds of people, and praying that I got to talk to the firms I was interested in.

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Topics: Trends, Customer Service

Jul 28, 2016 10:30:00 AM

Energy Industry: Riddled with Challenges, Ripe for Transformation

All industries are experiencing disruption in today’s environment, but few are experiencing it to the degree the energy industry is, especially those in the electricity sector. The industry faces government regulations, security threats, demographic shifts, storage limitations, consumer demands, technological changes, shifts in public perception and supply chain transformations, just to name a few. At first glance, one might feel overwhelmed at the task at hand, adapting to the changes currently bombarding the industry, while simultaneously anticipating future opportunities so not to be disrupted by change but rather help drive it!

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Topics: Cybersecurity, Disruption, Energy

Jul 21, 2016 10:00:00 AM

House Republicans' Blueprint for Tax Reform in 2017

Recently, House Speaker Paul Ryan and Ways and Means Committee Chairman Kevin Brady released a blueprint for comprehensive tax reform. While these proposed changes are not authored by either presidential nominee, they will likely be an integral part of any tax reform taking place in 2017, assuming the Republicans maintain House control. The blueprint is a step towards tax law simplicity and is pro-growth, leading some to believe the Senate might take action on similar legislation as well. 

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Topics: Tax Reform