Category: Business Practices
Update: Michigan Unclaimed Property Enforcement Warrants a Second Look
The State of Michigan is reinforcing their unclaimed property filing requirements. You can review the Michigan Unclaimed Property manual here. They recently sent out unclaimed property notices to all businesses that did not submit an unclaimed property report by July...
Holiday pay questions? Here are some answers…
'Tis the season for employees to enjoy some deserved time off with friends and family. However, as an employer, you may have some questions regarding your employees compensated time off, such as: Do we have to provide paid holidays? Can...
SR Glossary: Below Market Loans
In the course of running a smaller company there comes times where the owner(s) may need to loan the company money. What is usually lost in this whole transaction are the details: How is it going to be repaid? When...
How will patient-centered care affect your medical practice?
For health care providers, the patient-centered care initiative starting in 2013 can largely impact the reimbursements your practice will receive from Medicare. There are steps that you as a health care provider should take to properly prepare your practice for...
Five qualities to look for when hiring a bookkeeper
Hiring a bookkeeper can be a tedious undertaking. However, knowing the right characteristics to look for can make the process less daunting. The following is a list of five important qualities to look for in a bookkeeper: 1. Tech Savvy...
The Top Eight Rules of Networking
Recently, the article “The Top Eight Rules of Networking” was shown on the home page of my LinkedIn account. This got me thinking that at some point, everyone needs to network. Some people network for a living, while others need...
Have you evaluated your business’ healthcare costs?
Healthcare costs for a business can be significant and should be evaluated regularly. This article from Crain’s Detroit Business gives some great tips on how to evaluate your business’ healthcare costs and also poses some considerations to take into account...
SR Glossary: Business Valuation
Every year, thousands of small businesses are bought / sold, and as a small business owner, maybe you have wondered "How much is my business worth? Can I sell it for $xxx,xxx? When is the right time to sell my...
Embezzlement can happen to every company
Here's an article in the Detroit Free Press regarding an embezzlement case in northern Michigan. This shows what a breakdown in control and blind trust in an employee can lead to disasterous concequences. It is also important to note that...
Private Company Financial Reporting – Will we finally see a change?
Since 1972, the need for a different set of standards for private companies has been an ongoing topic for debate. Hopefully, with the issuance of the Blue-ribbon Panel on Standard Setting for Private Companies Report (“BRP Report”) to the Financial...