Over my career, I’ve had the opportunity and pleasure of working with hundreds of businesses. What is no surprise is that no two businesses are the same. When our firm discusses with owners about their business and its unique needs, we often discuss the business structure to make sure that it is set up for […]
U.S. DOL Releases New Overtime Rule – Effective 7/1/2024
On April 23, 2024, the Department of Labor announced its new overtime rule, “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” Effective July 1, 2024, an executive, professional, or administrative employee must receive a salary equivalent to $43,888 per year in order to be classified as exempt. This income […]
Is It Time – When to Exit Your Business?
Have you been thinking about sitting on a beach in Cabo, or playing golf at Whistling Straits, or spending more time with family. Maybe all three. You invested substantial financial resources, including time away from your family building your business. Is it time to take that next step? Is it time to EXIT? Your family-owned […]
Help Wanted
It’s a challenging time to be an employer. It’s a challenging time to be an employer. That’s not a typo. That’s me anticipating all of you who just thought, ”You can say that again.” Here are some tips for small business owners who are facing these challenges:
Cash is King! The Rolling 13-Week Cash Flow Forecast.
Profits are great, but cash is king! You may have heard this colloquial phrase used when analyzing businesses. It refers to the importance of cash flow in the overall fiscal health of a business. Many owners ask how it is possible that my revenues are up, my margins are up, and operating expenses are in […]
Burke & Schindler, PLL merges with Richmond, Indiana CPA Firm
Cincinnati July 1, 2022 – Burke & Schindler, PLL a Cincinnati-based regional CPA firm, founded in 1984 and provider of tax, accounting, business advisory, HR and Staffing, and Wealth Management services, has merged with the Richmond, Indiana CPA firm of Gillam & Zetzl. Gillam & Zetzl (“G&Z”) was formed in 2001 as a result of […]
So, You Qualified for the ERC (employee retention credit) Credit, Great! You Might Be Wondering: What Should I Expect Now?
We have assisted many of our clients with claiming the Employee Retention Credit (“ERC”). The ERC is a government stimulus program designed to help small businesses that were able to retain their employees during the Covid-19 pandemic. Qualifying businesses that experienced the requisite drop in gross receipts are able to claim a refund on qualified […]
Securing Your Systems
Cyberattacks will continue. In fact, federal security agencies recently issued warnings to businesses and other organizations to improve defenses against possible Russian-sponsored cyberattacks, especially given the rise in tensions between Ukraine and Russia. The agencies are recommending that organizations should:• Ensure all system updates and patches have been installed on software to minimize vulnerabilities• Require […]
Why All Successful Entrepreneurs Have MBAs: Mentors, Believers, Advocates
There’s no such thing as a “self-made” business owner. The mere notion of the self-made man — someone who came from nothing, had a big idea, exploited it entirely on his own, and now has it all — is mostly an American myth. Sure, successful entrepreneurs and business owners are smart, opportunistic, perceptive, and adept […]
Is your business budget process like Groundhog Day or 2001: A Space Odyssey?
When planning next year’s budget, look to the future and never dwell on the past. Good strategy requires good numbers—it’s just that simple. It’s impossible to look at the big picture without making reasonable assumptions about where, how, and when cash will be coming in, and where, how, and when cash will be required. That’s […]