Defined in the simplest terms, benchmarking is the process of identifying your company’s strengths and weaknesses by comparing its performance metrics to those of similar companies. Here are a few of the ways it could change your business.
Proactive service is more than just suggestions and recommendations from a CPA, advisor or consultant – it’s an educational experience that provides you with tools, knowledge and support. That’s why DS+B professionals are active members in professional associations to understand industry trends and hot topics. It’s why we seek out and learn from the best in every business. It’s so we can bring you insight and guidance to run a better business, engage in effective tax planning or understand the financial outcomes of big decisions.
Last year was a busy year for lawmakers at the Minnesota Legislature in regard to the construction industry. Going forward, both prime (general) contractors as well as subcontractors need to be aware of the law changes in the statute, as they can affect everything from contracts and scheduling to accounting and project timelines.
One of the biggest challenge facing physician independent practices is staying independent. In order to overcome it, practices must pay attention to payer contracts.
Revenue cycle management (RCM) is more than a simple examination of billing activities. It’s a robust process—and it’s integral your practice’s survival in a changing marketplace.
The present law partnership audit rules, also known as TEFRA, have been replaced with new procedures that may require adjustment of all items of income, gain, loss, deduction or credit at the partnership level rather than at the partner level. This puts the partnership liable for any resulting underpayment of tax. It’s time to explore your options.
The Section 199 deduction is often known as the “domestic production deduction.” But it’s not limited to manufacturers! Contractors, architects, engineers, and even design firms may qualify, too.
To Lease or To Buy? How New Accounting Rules Could Impact Your Bank Covenants and Purchasing Decisions
A new accounting standard could have a major impact on a business’ banking relationship — and, in turn, its access to new capital. Business owners and CFOs need to take note, particularly when it comes to future purchasing decisions as well as accounting for existing leases.
Benefits of an IC-DISC: How Manufacturers and Exporters Can Determine If It’s Right for Their Business
Paul Simons was recently featured in Minnesota Business Magazine’s experts section for manufacturing business owners, called “Gears and Gadgets | GuidePosts.” For qualifying manufacturers and exporters there is an often overlooked tax advantage that they may want to consider that offsets operating income with lower taxed IC-DISC dividend.