Published 09/15/2021
Top-performing dealerships often have two common attributes: strong managers and low employee turnover. These features may be interrelated. According to research conducted by Gallup, half of employees who left their jobs said they did so to...
Published 04/08/2021
As businesses in the hospitality industry are starting to reopen, attracting talent is top of mind. To help in developing a recruitment strategy, we have compiled tips below to help find and retain new employees: Analyze your job posting....
Published 03/01/2021
As vaccinated employees enter the office, employers are curious if workplace protocols and COVID-19 prevention measures should be reconsidered. Below, we lay out some recommendations from the Center for Disease Control and Prevention (CDC)....
Published 01/06/2021
Leading a business during the COVID-19 pandemic has proven to be full of challenges and it has been imperative to stay abreast of the evolving needs of clients in an attempt to connect with them on a personal level to enhance their...
Published 12/16/2020
On December 20, 2019, The Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act“) was signed into the law becoming the most sweeping legislation affecting retirement savings since the Pension Protection...
Published 10/27/2020
Conditions are ripe during the COVID-19 crisis for dishonest employees to commit fraud. Here’s some important information that companies should know to protect against incurring fraud losses during these unprecedented times. Types of fraud...
Published 04/23/2020
What changes have been made to Unemployment Insurance (UI) under the CARES Act/Pandemic Unemployment Assistance (PUA)? Beginning the week of March 29, 2020, UI recipients will be eligible for an additional payment of $600 through July 31,...
Published 03/20/2020
In response to the COVID-19 pandemic, the Families First Coronavirus Response Act (H.R. 6201) was signed by the President on March 18, 2020. This Act includes requirements for employers relating to paid sick time and family leave and is...
Published 03/13/2020
March 19, 2020 Update Many states and counties have declared states of emergency and are encouraging certain organizations open to the public to comply with social distancing recommendations. It is important to stay updated on the decisions...
Published 09/25/2019
Brief History In 1938, the Fair Labor Standards Act (FLSA) was passed to establish minimum wage, overtime pay, recordkeeping and youth employment standards affecting full time and part time workers in the private sector and in federal, state...
Published 06/10/2019
Ideally, investors should be able to get sufficient information about a company’s future cash flows by looking at the income statement. But they currently don’t because expense information is too densely reported, according to recent...
Published 05/22/2019
I have heard that changes are being proposed to the way businesses are taxed in Ohio. Is this true, and if so, will you explain? Indeed, the latest budget proposal from the Ohio House of Representatives included an increase of $1.2 billion...
Published 04/11/2019
Do you want to control costs and improve delivery of your nonprofit’s programs and services? It may not be as difficult as you think. Several simple initiatives can make a big difference in how efficiently your organization operates. Here...
Published 04/10/2019
The global financial reporting project is alive and well, according to Russell Golden, Chairman of the Financial Accounting Standards Board (FASB). Despite rumors that the FASB and the International Accounting Standards Board (IASB) are at...
Published 03/28/2019
On Tuesday March 26, 2019, Governor Matt Bevin signed HB 354 into law. The bill included amendments to exempt the sales of admissions, along with the sale of some items related to fundraising events, by not-for-profit organizations exempt...
Published 03/28/2019
In February, the Financial Accounting Standards Board (FASB) discussed its ongoing project to improve how companies provide information around business segments. It doesn’t appear that a proposal will be issued anytime soon. Instead, the...
Published 03/01/2019
In April 2018, the IRS released temporary guidance on the limit on deductions for business interest expense for tax years beginning in 2018. According to the new rules, interest expense is limited to 30% of the adjusted taxable income. For...
Published 01/25/2019
Bank regulators have completed a rule that will allow banks to phase in the capital effect of the new credit losses accounting standard over a three-year period. The relief comes amid growing banker angst about the impact of the sweeping new...
Published 01/25/2019
The AICPA’s Auditing Standards Board (ASB) is taking steps to enhance the consistency of financial reporting between public and private companies. A new omnibus auditing standard will cover standards on related parties, communications with...
Published 01/25/2019
When President Trump signed into law the Tax Cuts and Jobs Act (TCJA) in December 2017, much was made of the dramatic cut in corporate tax rates. But the TCJA also includes a generous deduction for smaller businesses that operate as...
Published 01/18/2019
The IRS has some good news for certain taxpayers — it’s waiving underpayment penalties for those whose 2018 federal income tax withholding and estimated tax payments came in under their actual tax liabilities for the year. The waiver...
Published 01/14/2019
As the Tax Cuts and Jobs Act (TCJA) made its way through Congress, many nonprofits understandably focused on the provisions likely to affect charitable giving. But the law also contains some significant requirements affecting unrelated...
Published 01/09/2019
The IRS has announced that it will begin accepting paper and electronic tax returns for the 2018 tax year on January 28, but much remains to be seen about how the ongoing shutdown of the federal government will affect this year’s filings....
Published 01/08/2019
Once upon a time, financial reporting professionals expected the Securities and Exchange Commission (SEC) to publish a rule that would allow — or force — U.S. public companies to use International Financial Reporting Standards (IFRS)....
Published 01/08/2019
The Financial Accounting Standards Board (FASB) is in the early stages of a project to develop guidance for performance reporting. The goal is to make it easier for investors and securities analysts to understand from reading a company’s...
Published 12/11/2018
In our role as HR consultants, often providing hiring assistance services to our clients, the challenges of talent acquisition are a constant source of discussion. What we get to talk about less often is talent retention. There are many...
Published 09/06/2018
I run my own business, and one of our goals is to better assimilate our new employees into our workplace culture. I’m not particularly familiar with formalized onboarding, so can you share best practices? Bringing aboard new team members...
Published 09/05/2018
I recently purchased a business and my team is very multi-generational. Each generation has a different way of working, and different expectations. Any ideas for how I can better deal with these challenges? Great question, and one we’re...
Published 09/05/2018
I am planning to exit my business in the next 3-5 years, and I’ve got my attorney assisting me in the process. Should I bring in more experts as I progress toward my exit date? In our experience, exit planning is often a more complex task...
Published 08/03/2018
For many family businesses, ownership transfers to children can be tricky. There are the questions that need to be asked regardless of the buyer—business value, purchase price, etc.—as well as others unique to this particular situation....
Published 08/03/2018
Are you ready to handle your growing and evolving workforce? It’s the middle of 2018 and the hospitality industry continues to be challenged in attracting and retaining key employees. The unemployment rate from the Bureau of Labor...
Published 04/27/2018
Whether it is in the business, government, or non-profit sector, ethics seem to be on everyone’s minds these days. To ensure your supporters and community understand your organization’s values and the policies that uphold them, a formal...
Published 04/27/2018
The Kentucky General Assembly has enacted sweeping tax reform legislation with House Bill (“HB”) 366, which was enacted into law on April 13, 2018 and HB 487, which became law today, when Governor Bevin failed to either sign or veto the...
Published 04/05/2018
The Financial Accounting Standards Board (FASB) recently issued a proposal to clarify how to account for the costs of setting up business software packages that are managed in the cloud. If finalized, the proposal would let more of the costs...
Published 04/05/2018
In the coming months, the Securities and Exchange Commission (SEC) is expected to revise the definition of “smaller reporting company.” This change will allow more companies to file reports with a lighter load of disclosures. The goals...
Published 04/05/2018
In December 2015, the Financial Accounting Standards Board (FASB) released a proposal intended to improve financial statement disclosures about the estimates used to determine the fair values of assets and liabilities. After an almost...
Published 04/05/2018
Two major accounting rule changes will soon go into effect — and they’re expected to have major impacts on how many manufacturers and distributors report their financial results. Here are the details, including what’s changing, when...
Published 04/02/2018
The war for talent remains top of mind for the hospitality industry. As the Bureau of Labor & Statistics (BLS) has projected, thousands of jobs will continue to be available for the retail and hospitality industry. Consumer demands for...
Published 03/01/2018
The Bipartisan Budget Act of 2018 (the “Act”) was signed into law on February 9, 2018. The Act contains several provisions that impact qualified retirement plans, including changes to hardship withdrawal provisions for plan years...