Taming the tax tangle if you’re retiring soon
February 5, 2025 | Janet Kanan, EA
Are you retiring soon? Read this article to find out the tax implications and what you can do to be prepared.
Read MoreKeeping Your Family Business in the Family
April 24, 2017 | Brian Hare, CPA, CGMA
A successful family business can provide long-term financial security for you as its owner, as well as for your loved ones. To improve the chances that your company will continue to benefit your heirs after you’re gone, take steps now to keep it in the family. Staying in-house Careful estate planning can ensure that a […]
Replacing a Business Vehicle
April 24, 2017 | Brian Hare, CPA, CGMA
Although a vehicle’s value typically drops fairly rapidly, the tax rules limit the amount of annual depreciation that can be claimed on most cars and light trucks. Thus, when it’s time to replace a vehicle used in business, it’s not unusual for its tax basis to be higher than its value. This can be costly […]
5 Ways to Speed Up Collections
April 21, 2017 | Brian Hare, CPA, CGMA
Turning receivables into cash is among the most important things a business must do. Of course, it’s easier said than done. Here are five ways to speed up collections: Streamline the billing process. You can’t collect what you don’t bill. Invoice customers promptly — as soon as the product ships, if possible. Or, if your […]
Can an Introvert be a Successful Entrepreneur?
February 21, 2017 | Brian Hare, CPA, CGMA
We hate people. People we don’t know, people in big groups; we’re introverts. We appreciate the quiet, dread large networking events and consider our words carefully before we speak. We research a subject before offering an opinion, we’re willing to thoughtfully consider the opinions of others, and we develop long-term relationships. Can an introvert be […]
How Entrepreneurs Build an Organization
June 21, 2016 | Brian Hare, CPA, CGMA
In Part 1 of this topic, we covered the definitions of leadership and entrepreneurial leadership, and listed qualities that business leaders share. In this post, we’ll explore how those skills help leaders to build their organization. How entrepreneurial leaders build an organization: As leaders are building an organization, these 3 questions may provide clarity: What am […]
Are All Entrepreneurs Leaders?
May 21, 2016 | Brian Hare, CPA, CGMA
What is Leadership? There are many definitions provided by leading experts. The dictionary.com definition is very simply the action of leading a group of people or organization. One of our local business leaders in Detroit, Nancy Schlichtling, CEO of one of the largest hospital organizations in the country, Henry Ford Health System, defines leadership like […]
Why Hire a Smaller Firm?
April 21, 2016 | Brian Hare, CPA, CGMA
My previous post discussed the advantages of working for a small firm vs. a large company – now let’s address the advantages of hiring a smaller firm. My experience is the the accounting world, but these points are true of most industries: You’ll likely have direct access to the owner or President of the company. […]
Why Work for a Smaller Firm?
March 21, 2016 | Brian Hare, CPA, CGMA
In the process of interviewing candidates for an open position at our firm, we encountered some misconceptions about working for a smaller firm, namely perceived limited opportunities, less structured training and uncertainty about the stability of a smaller organization. We thought the advantages of working for a smaller firm were obvious (!) but here are just a few: You’ll […]
The Benefit of an Annual Corporate Meeting
December 10, 2015 | Brian Hare, CPA, CGMA
If your company is a corporation, you’re probably aware that your shareholders and Board of Directors must meet at least annually. For many entrepreneurs, the board and shareholders may only consist of a couple of people and this meeting requirement is regarded as an annoying formality. The main purpose of the meeting is to ensure […]