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.

 

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Business is about profit, but you can have fun and make profits at the same time,” said Bruce McLenithan, director of Operations Learning and Development, Steelcase North America, Grand Rapids, MI.

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Is your not-for-profit the same organization it was three years ago? Are your stakeholders the same now as then? Is your community and its support of your not-for-profit the same?

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Statements like this can boost your company’s sales as much as 250%. Even better, when you get a testimonial from a consumer, that person is likely to become a more loyal customer and help spread the word about your company’s products.

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Smart company owners and executives obtain business interruption insurance — and possibly contingent business income coverage if the operation relies heavily on outsourcing or a particular supplier.

When was the last time you reviewed the insurance coverage on your business property? If you have an insurance agent who works closely with your company, you may be accustomed to periodic reviews to keep your insurance up to date.

Do you own residential or commercial rental real estate? The Tax Cuts and Jobs Act (TCJA) brings several important changes that owners of rental properties should understand.

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If you operate your medical practice as a C corporation, you may be required to conduct an annual corporate meeting and keep minutes of the proceedings. The requirement to keep minutes is sometimes viewed as a burdensome task, but there’s some good news: Minutes can also be used to document the practice’s intentions for transactions that have major tax significance.

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As you already know, public relations professionals can help your company get publicity about the products or services you provide.

If you are selling a business, the buyer may want to pay part of the price through an earnout provision. This is a contractual arrangement in which the seller receives additional payment in the future if certain financial goals are met.

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When unused flexible spending account (FSA) balances are forfeited back to employers under the “use-it-or-lose-it” rule, employers have several options for what they can do with the money.