View From The Rock

How to turn constraints into opportunities

Tuesday, June 27, 2017 at 8:58 AM by Paul Carter CPA

When we come up against a constraint in the workplace, such as a lack of resources or an impossible short time frame, we tend to see it as a limitation, which ultimately stifles creativity and performance.  But what if we started to look at constraints as opportunities instead? There are strategies that leaders and organizations

IRS Fringe Benefit Guide

Thursday, June 22, 2017 at 9:03 AM by David Shindel

The Taxable Fringe Benefits Guide was created by the IRS office of Federal, State and Local Governments (FSLG) to provide governmental entities with a basic reference guide to Federal tax rules relating to employee fringe benefits and reporting. As a supplement to other IRS publications, the Taxable Fringe Benefit Guide is designed to help individuals responsible

Audit statute for net operating losses

Tuesday, June 20, 2017 at 8:56 AM by Maria Montie, CPA, MST, CVA, MAFF

Did you know that audits of net operating losses (NOLs) and other carryforwards can reach back past the otherwise applicable statute of limitation? Some amounts that are created in a prior year and carried over to the current year’s return can be included in the calculation of taxable income. As this carryover period extends beyond

Protecting your child from identity theft

Friday, June 16, 2017 at 8:55 AM by Maria Montie, CPA, MST, CVA, MAFF

Just when you thought identity theft couldn’t get any worse, an emerging market for identity theft thieves is now children. This crime, unfortunately, has the ability to go undetected as young children likely won’t use their social security numbers for years. A child’s social security number can be used by identity thieves to apply for

Understanding the recent changes to Michigan’s unclaimed property laws

Tuesday, June 13, 2017 at 8:58 AM by Maria Montie, CPA, MST, CVA, MAFF

Beginning in 2018, all entities registered to do business in the State of Michigan with nothing to report will be required to submit negative reports.  In an effort to help our clients understand the recent changes to our state’s unclaimed property laws and to remind them of the reporting obligations for unclaimed property in general,

Why hiring an expert for trust and estate planning is critical

Thursday, June 08, 2017 at 10:04 AM by Maria Montie, CPA, MST, CVA, MAFF

A recent blog post from the AICPA highlights the importance of estate planning with the story of superstar, Prince, who left no will or estate plan for his $250 million fortune. Although it’s been more than a year, the court only recently decided his six siblings are the rightful heirs. The takeaway from the article

Negative reporting for unclaimed property starts in 2018

Wednesday, June 07, 2017 at 1:07 PM by Maria Montie, CPA, MST, CVA, MAFF

Beginning in 2018, all entities registered to do business in the State of Michigan with nothing to report will be required to submit negative reports. All entities have the ability to both report and remit payments electronically. Additionally, Michigan’s Voluntary Disclosure Program allows entities to report any property that should have previously been reported without

How businesses can better plan strategically

Thursday, June 01, 2017 at 8:59 AM by Paul Carter CPA

Instead of approaching business as a series of problems to be solved – say, how to cut down on spending, or how to keep employees from getting bored at work – organizations should take a more appreciative look at themselves. That’s the aim of appreciative inquiry, a change method that consultant Bill Swedish thinks can

Five management mistakes that can come back to haunt you

Tuesday, May 30, 2017 at 12:00 PM by Paul Carter CPA

Don’t be haunted by the ghosts of mistakes past. Instead, find out how to fix what’s broken and never make the same scary mistake twice. You don’t have to be alone in a dark, scary house or visiting a graveyard at midnight to be haunted by the ghost of bad business decisions past. Here are

Strategies to retain talent following an acquisition

Thursday, May 25, 2017 at 8:46 AM by Paul Carter CPA

Here are a few best practices to effectively assess and retain top talent in an acquisition: Define strategy and culture. What is the goal of the deal: to expand an existing business line or to diversify? The buying company must define the strategy of the move before identifying the best people to keep. This step also