A&E Outlook: How to Gain a Competitive Edge in 2022
Posted by Kevin Johns on January 24, 2022
Kevin Johns
A&E firms have faced a flurry of changes in the past few years. From tax laws to workforce trends to coronavirus impacts, leaders must manage increasing amounts of uncertainty. To gain some clarity, we spoke to Jamie Claire Kiser – a managing principal at Zweig Group – about trends affecting the A&E industry.
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2022 Tax Outlook
Posted by Clayton & McKervey on January 19, 2022
Clayton & McKervey
Listen to this episode of The Sound of Automation podcast to learn about the current tax landscape and status of the Build Back Better Act. Discover how the anticipated tax changes and lack of legislative movement could impact your business.
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Do You Know What You’re Worth?
Posted by Margaret Amsden on January 14, 2022
Margaret Amsden
Knowing your net worth can help you evaluate your financial health and plan for the future. From defining net worth to understanding what assets and liabilities are, here are some basic considerations to help you get started.
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The Future of Work: Trends to Watch in 2022
Posted by Bryan Powrozek on January 10, 2022
Bryan Powrozek
Is your organization positioned to thrive as the future of work takes shape in the months and years ahead? While some businesses will move ahead with “return to office” plans for 2022, others are taking a serious look at remote and hybrid structures as the “new normal” for their talent base.
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Important Cybersecurity Reminders for 2022
Posted by Tevon Campbell on January 4, 2022
Tevon Campbell
With all the statistical data on the increase in cybercrime, and the cost to businesses that fall victim to these attacks, cybersecurity is always top of mind. While it’s important to implement technology to protect your company’s data, here are some steps your employees can take to help with cybersecurity.
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Navigating the Post-Pandemic M&A Revolution in A&E Firms
Posted by Ben Smith and Kevin Johns on January 3, 2022
Ben Smith
By consolidating operations with allied companies or expanding their consumer base through strategic mergers, many businesses were able to survive the pandemic. As businesses attempt to return to “normal” it’s important for sellers to prove the staying power of their company and be prepared for higher scrutiny into their valuations.
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Cyberattacks: Your Small Business’s Worst Nightmare
Posted by Elly Mioduszewski on December 27, 2021
Elly Mioduszewski
Estimates say that cyber breaches can go undetected for about 200 days on average. A lot of damage can be done in the time that companies don’t even realize they have been compromised. If you're wondering if your business should invest in cybersecurity, the answer is a resounding yes and here are just three of the many reasons why.
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Michigan SALT Cap Workaround Details Released
Posted by Sue Tuson on December 22, 2021
Sue Tuson
Michigan’s Governor has signed a SALT Cap Workaround to avoid the $10,000 limit on individual deductions for state and local taxes at the federal level. The rules are effective for tax years beginning on and after January 1, 2021. Learn about the key details and business considerations.
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Insights from Washington: Build Back Better Act Stalled
Posted by Sarah Russell on December 21, 2021
Sarah Russell
Tax practitioners across the U.S. can enjoy the holiday season and maybe have that extra glass of eggnog this year knowing we will not have a massive legislation to digest before the new year begins! Last weekend Congress conceded that there are not enough votes to pass the massive Build Back Better Act (BBBA).
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Child Tax Credit: Radical Changes for 2021
Posted by Miroslav Georgiev on December 20, 2021
Miroslav Georgiev
For many Americans, Christmas came early this year in the form of monthly payments from the Federal Government. These payments were vital for many households struggling with the lingering effects of the pandemic, and, for the majority of American households, will not need to be repaid. However, there are several circumstances where people could find themselves having to repay all or a portion of these payments.
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IRS Guidance Regarding Retroactive Termination of the ERC
Posted by Sarah Russell on December 16, 2021
Sarah Russell
The IRS provided much-awaited guidance regarding penalty waivers for taxpayers who qualified for employee retention credits (ERC) and did not remit payroll taxes before the credit was retroactively terminated after September 30.
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12 Build Back Better Changes You Should Watch
Posted by Sarah Russell on December 16, 2021
Sarah Russell
As the Build Back Better (BBB) legislation makes its way through congressional talks, there are changes in the works that could impact your upcoming tax obligations. The first thing to know is that the Build Back Better act is evolving daily. Despite the uncertainties, it’s likely that some tax increases will be included in the final bill.
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Building a Data-Driven Culture
Posted by Clayton & McKervey on December 15, 2021
Clayton & McKervey
Listen to this episode of The Sound of Automation podcast to learn how data can help drive efficiencies and growth across your organization.
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Year-End Update Video
Posted by Clayton & McKervey on December 10, 2021
Clayton & McKervey
Watch this live video discussion on key end of year impacts to you and your business. We'll cover everything from tax planning considerations and the employee retention credit to the latest on the Infrastructure Investment and Jobs Act and the Build Back Better Act.
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Inflation’s Impact on Market Transactions
Posted by Ben Smith on December 9, 2021
Ben Smith
As Covid variants continue to challenge the economy, apprehension and marketplace anxiety continues. This includes a rise in inflation as reported by the Bureau of Labor Statistics 6.2% increase over the year ending October 2021. These price increases either get passed on to consumers, which inevitably turns some away from a product, or passed on to investors.
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Gifting to the Family: Don’t Wait too Long!
Posted by Margaret Amsden on December 2, 2021
Margaret Amsden
This has been an eventful, record-breaking year for mergers and acquisitions, up 158% from the same time last year. Stock values continue to rise while interest rates remain at record lows, creating a prime environment to make deals and close transactions. Consider this guidance to help take advantage of the current tax code and valuation discounts before they disappear.
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Digital Transformation: A Catalyst for Growth
Posted by Elly Mioduszewski on November 23, 2021
Elly Mioduszewski
Today’s middle market companies have the ability for expansive growth. Those experiencing growth are more productive, efficient and secure than the past. They communicate better, react to customer needs faster and enjoy greater bottom-line savings than their competition. How do they do it? By implementing digital transformation strategies into their everyday operations. And it’s a practice you can add to your own facility.
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Income Tax Treaty Basics for Global Businesses
Posted by Eric Lin on November 19, 2021
Eric Lin
Doing business globally requires knowledge of the benefits and requirements of income tax treaties between the countries on both sides of a cross-border transaction. Here is some advice to help you realize the maximum benefit from an applicable treaty and meet all related filings.
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Firm Announces New Leadership Discovery Service
Posted by Clayton & McKervey on November 19, 2021
Clayton & McKervey
Clayton & McKervey, a certified public accounting and business advisory firm helping growth-driven companies compete in the global marketplace, has announced a new Leadership Discovery service designed to help businesses attract and maintain a winning team.
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Gifting to Reduce Tax Liability
Posted by Margaret Amsden on November 18, 2021
Margaret Amsden
With the end of the year quickly approaching, the time for year-end tax planning is now, especially with the impending changes outlined in the Build Back Better Act (BBBA) set to be implemented at the start of 2022. One of the major changes affects high-net-worth individuals looking to make gifts to reduce a potential future estate tax liability.
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Insights from Washington: Infrastructure Bill Signed, Attention on Build Back Better Act
Posted by Sarah Russell on November 16, 2021
Sarah Russell
As expected, President Biden signed the Infrastructure Investment and Jobs Act Monday, November 15. Now that the work on this bill is complete, Congress can get back to President Biden’s second signature piece of legislation, the Build Back Better Act (BBBA).
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New Regulations for Crypto Brokers
Posted by Katie Blake and Elly Mioduszewski on November 16, 2021
Katie Blake
Will the infrastructure bill affect personal tax reporting requirements? It could. The information reporting provisions included in the infrastructure bill contain language regarding regulations and tax requirements for cryptocurrency brokers, which is causing a stir among investors and crypto advocates.
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Insights from Washington: Finally! Draft Legislation
Posted by Sarah Russell on November 12, 2021
Sarah Russell
The House finally passed the Infrastructure Investment and Jobs Act. In this week's installment of Insights from Washington, we look at a few key tax items in the infrastructure bill regarding the ERC and cryptocurrency.
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How to Bring Profits Home Without Any Hassle
Posted by Nina Wang on November 10, 2021
Nina Wang
China’s strict foreign exchange control has been a common concern among many foreign investors. Understanding the common ways to repatriate profits from China and the pros and cons of each method will help foreign investors bring profits back to their home countries and avoid unpleasant surprises.
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ESG: Importance, Impacts, & Reporting Implications
Posted by Dave Van Damme and Elly Mioduszewski on November 8, 2021
Dave Van Damme
You might be noticing more discussions about Environmental, Social, and Governance (ESG) initiatives and wondering if they impact you. Learn how ESG reporting can provide stakeholders with transparency regarding the risks and opportunities your company faces related to environmental, social and governance issues.
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Year-End Planning Insights
Posted by Clayton & McKervey on November 3, 2021
Clayton & McKervey
In this episode of The Sound of Automation, we sit down with Shareholder Tim Finerty to discuss important year-end planning insights for business owners. Discover how to navigate the changing marketplace, capitalize on opportunities, and set your business up for success next year.
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A&E Recruiting & Retention Secrets: Attract the Best Employees
Posted by Kevin Johns on November 3, 2021
Kevin Johns
Employee attraction and retention is a vital competitive factor for architecture and engineering (A&E) firms. Beyond the obvious price and technical considerations, success on any project really comes down to the skill and judgment of the people who are going to execute it.
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Insights from Washington: Draft Legislation Released
Posted by Sarah Russell on November 2, 2021
Sarah Russell
On Thursday, October 28, the House Rules Committee released draft text of the modified Build Back Better Act. In today's edition of 'Insights from Washington', we look at some of the changes to the tax-related provisions included in the bill released in September 2021.
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Talent 101: Retain, Engage, Reward
Posted by Clayton & McKervey on October 29, 2021
Clayton & McKervey
Check out this video for effective ways to retain, engage, and reward your team members. Watch as organizational leaders from ADVISA, Patti Engineering and Get TPA Fit explain how clear expectations and successful onboarding can help build long-term job satisfaction.
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Is it Time to Buy or Sell? Top M&A Market Indicators for A&E Firms
Posted by Kevin Johns on October 28, 2021
Kevin Johns
Even if you don’t have current plans to buy or sell, now is a great time for you to refresh your awareness of M&A essentials. As an architecture or engineering firm owner, M&A considerations should be part of your long-term strategic planning whether or not you have a specific deal in mind.
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Insights from Washington: Economic Plan Coming into Focus
Posted by Sarah Russell on October 26, 2021
Sarah Russell
On Thursday, October 21 President Biden acknowledged that he didn’t have sufficient Democratic backing for his proposed increases in the individual, corporate and capital gains tax rates. As we’ve mentioned, the Democratic Caucus needs unanimous support in the Senate to pass legislation but there are two key obstacles in negotiations.
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Michigan Manufacturers: Apply for Talent Funding by October 28
Posted by Jim Biehl on October 21, 2021
Jim Biehl
In talking with manufacturers, we know that talent is a top issue. If you’re a manufacturer in Michigan seeking assistance with talent retention, you don’t want to miss out on applying for the Going PRO Talent Fund. This fund is designed to help employers with training, developing and retaining employees.
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It’s All About the Team
Posted by Rob Dutkiewicz on October 19, 2021
Rob Dutkiewicz
We have all heard the phrase, “the more things change, the more they stay the same.” This aptly applies to today’s situation and, no, I am not talking about our beloved Detroit Lions! What I am referring to is the alarming lack of qualified employees. I am finding that this relates to just about everyone, everywhere.
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PPP, ERC, and R&D: Tips to Maximize Your Benefits
Posted by Bryan Powrozek and Jake Mouradian on October 19, 2021
Bryan Powrozek
For businesses and individuals adversely impacted by the COVID-19 pandemic, much needed financial relief was provided when the Consolidated Appropriations Act, 2021 (CAA) was passed last December. The CAA also addresses the interplay for businesses that intend to claim the ERC in addition to the Research and Development (R&D) tax credit.
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Building Blocks of Revenue Management
Posted by Ben Smith on October 19, 2021
Ben Smith
Many companies faced financial and operational challenges due to the pandemic, including production delays and supply chain issues. Despite a record high positive industry outlook, businesses are searching for new ways to understand the relationship between customer demand and available resources.
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Insights from Washington: Continued Negotiations and R&D Update
Posted by Sarah Russell on October 18, 2021
Sarah Russell
Negotiations on the budget bill are picking back up as Congress returns from a week-long break. It appears Democrats are uniting around a $2 trillion top-line, but the party remains divided over which pieces of President Biden’s agenda will be included. Progressives in the party want to include the full list while reducing the numbers of years such benefits will be available.
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2021 Year-End Tax Planning Tips
Posted by Sarah Russell on October 15, 2021
Sarah Russell
As 2021 draws to a close, it's important to determine what tax planning strategies make the most sense for you and your business. Here are some key year-end tax planning considerations to keep in mind as we approach year-end.
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2021 Reporting Guidance
Posted by Sarah Russell and Margaret Amsden on October 14, 2021
Sarah Russell
Every year brings a list of information filing requirements necessary to make sure payees have the information needed to file their taxes. To assist with year-end business reporting, here are some items for you to consider.
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Bringing Joy to the Workplace
Posted by Clayton & McKervey on October 13, 2021
Clayton & McKervey
In today’s episode of The Sound of Automation podcast, we discuss joy in the workplace with Rich Sheridan of Menlo Innovations. Listen in to learn why culture is such an important piece of attracting and retaining top talent.
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Insights from Washington: The Wait Continues and Other News
Posted by Sarah Russell on October 11, 2021
Sarah Russell
As negotiations continue on the budget reconciliation package, it appears more and more likely that progressives in Congress will need to scale back President Biden’s original economic agenda. One way Democrats are considering lowering the cost of the package is to enact income eligibility limitations on some of the programs.
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