MLR

Resources

Accounting for Business

Welcome to our Resources section, where you will find articles pertaining to accounting for business, business financial planning, financial advice, and the industries of our clients.
This section is a great source of information, but please contact us if you feel you need professional financial advice. Maxwell Locke & Ritter is here to offer trusted guidance.

Maintaining accurate records helps you manage the day-to-day operations of a business and makes it possible to prove that your organization is in compliance with various laws and regulations. Keeping good records also helps when hiring business tax services or when seeking business tax advice.

Maybe you’re starting out and wondering to yourself, “how does a buy-sell agreement work”? If, however, you’re a business owner, you’ve probably established a buy-sell agreement in case you or a partner part ways with the company, whether voluntarily or involuntarily. Either way, it’s important to remember that just drafting an agreement and putting it in storage isn’t enough. From time to time, you may need to review the agreement and make revisions as needed.

The franchisor/franchisee business relationship is a common one, and it offers plenty of growth potential. Whether you’re considering owning a franchise or thinking about taking on franchisees, understanding the process before making a major decision is crucial. Then, it’s essential that you draft a franchise agreement that covers both the immediate terms, as well as any changes that may occur in the future. Maxwell Locke & Ritter can help you complete this when you’re ready, but here is what to know and understand before buying a franchise:

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Builder’s risk insurance ensures that the insurance company will cover any equipment, materials, or property, damaged during construction, but there is a limit to this. For example, the loss must be clearly specified and included under what the insurance company considers to be “covered property”.

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If you are selling your business, you may be eligible for an earnout provision. Read about earnout purchases and the related due diligence assessment.

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Learning about nonprofit embezzlement cases empowers you to protect your organization from fraud. Visit us today for business accounting advice on embezzlement.

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The laws for online sales tax have changed. Learn about how the shift impacts digital retail and the need it creates for professional business tax accounting.

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Certain workplace culture characteristics consistently bring about higher financial performance.

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Audits have become more important due to increased public and government scrutiny of not-for-profit organizations, their management and their boards.

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In divorce situations, an ex-spouse may be legally obligated to make payments to the other party.