Category: Business Practices
Employers remain unprepared for ACA requirements
As more regulations continue to come into effect for employers under the Affordable Care Act, some with financial penalties, many employers report they are not prepared to deal with the slate of changes. In a recent Ernst & Young webcast...
Five fraud tips every business leader should act on
A single instance of fraud can be devastating. According to a report conducted by the Association of Certified Fraud Examiners (ACFE), the median loss per fraud case was $145,000 and more than a fifth of the cases involved losses of...
ShindelRock joins movement to shine a spotlight on fraud
Fraud costs organizations worldwide an estimated 5 percent of their annual revenues, according to a study conducted by the Association of Certified Fraud Examiners (ACFE). If applied to the 2013 estimated Gross World Product, this translates to a potential projected...
How to adopt, change or retain a tax year
Partnerships, corporations or trusts may be required to file Form 1128 to adopt or retain a certain tax year. To do this, follow these steps: Prepare Form 1128. Fill in Parts I, II, III and Section B. File before the...
Are you an owner of a small CPA firm without a succession plan? Consider these options
As an owner of small and successful CPA firm, you’ve worked a lifetime to build your business. You’ve grown and nurtured your clients and staff—and many of them feel like family. You’ve coached them on the importance of planning for...
Think twice before providing clients with “comfort letters”
In a service-oriented profession like accounting, CPAs typically want to help their clients in any way possible. While we strive to be “trusted advisors”, it’s important to be aware of situations that may put our livelihood at risk. One of...
Successful strategic planning for the small business owner
A lack of robust strategic planning is not unusual for a small business owners with many other pressing issues to deal with and plan for. Create a strategic planning process that is geared toward aligning the company’s various activities or...
Holiday pay can be used to reduce unemployment benefits
Coming off the Labor Day holiday, it's important to note that the Michigan Unemployment Insurance Agency (UIA) notes that payments like vacation pay, holiday pay, or bonus pay may be used to reduce a worker's unemployment benefits. To ensure claimants...
Michigan’s minimum wage increases Sept. 1
Here in Michigan, the State minimum wage will be increasing to $8.15 on September 1st. For more information about the specific details and dates for the next several years of increasing wages for hourly and tipped employees, click here. Depending...
Gov. Snyder signs legislation raising Michigan’s minimum wage Sept. 1
Michigan Gov. Snyder has signed legislation that will raise the state's minimum wage to $8.15 per hour on Sept. 1, 2014, with annual incresaes thereafter based on changes to the CPI. The minimum wage for tipped employees effective Sept. 1,...