Rea & Associates: How your business can get tax benefits from research activities
Your company doesn’t need to have laboratories filled with beakers to be eligible for tax credits provided for research and development (R&D) activities. “Many people don’t think they’re doing the type of research that qualifies. But in this context, research is a tax definition. And while there may be similarities to the laboratory sense of […]
CompManagement: How to get workers’ compensation discounts for things you already do
The Ohio Bureau of Workers’ Compensation’s (BWC) Destination Excellence program allows employers to choose programs that best fit their risk management needs. It focuses on safer workplaces, return to work and savings options for administrative functions. “These programs essentially offer discounts for things employers already do,” says Randy Jones, senior vice president of TPA Operations […]
Tegrit Group: How to prepare for, survive and thrive after a retirement audit
Regulatory audits of retirement plans are on the rise — in number and scope — from both the Department of Labor (DOL) and the IRS. “The DOL has hired hundreds of plan auditors and they are actively looking for violations. Trivial issues, or issues often overlooked in the past, are now being scrutinized during a […]
Novack and Macey: How understanding damages is critical in commercial litigation
The greatest impediment to the successful resolution of a commercial dispute is the failure of both clients and attorneys to understand and think adequately about the extent, nature and amount of damages at issue in the dispute, says Eric N. Macey, partner at Novack and Macey LLP. “While clients will invest huge amounts of time […]
California Bank & Trust: How to enhance sales with merchant services
Merchant services affect the majority of companies — more than 90 percent of online purchases use credit cards. “If you’re not sure if merchant services is the right fit for your company, think about what your competitors are doing. If you don’t accept cards today, then prospective customers may be going to other businesses,” says […]
Woodbury University: How non-profit financial practices can boost for-profit businesses
For-profit organizations use the theory of profit to strategize and lead. However, not-for-profits, like Woodbury University, operate under the theories of constraints and strength. “With the theory of constraints, the idea is to review past performances, coupled with ongoing and future goals or expectations, to identify areas that may delay or stop you from reaching […]
Momentous Insurance Brokerage: How to achieve cost savings by managing workers’ comp claims
Most employers are distant from their workers’ compensation claims and thus leave money on the table when it comes to premium savings. Good claims management starts at the beginning. As a claim progresses, there will be fewer opportunities to positively affect the outcome. It has to be an ongoing process, says Kimaili “Ken” Davis, ARM, […]
Stradling Yocca Carlson & Rauth: How the JOBS Act makes it easier for companies to raise money
The Jumpstart Our Business Startups Act (JOBS), passed in early 2012, mandates that the Securities and Exchange Commission (SEC) adopt rules to help start-ups and small businesses raise capital. Because of this, companies can advertise, market and publicly disclose that they are fundraising. The change also allows companies to raise up to $1 million from […]
Weaver: How forensic accountants and the public sector combat fraud
The vast amount of public funds and programs in federal, state and local governments can make it difficult to keep track of expenditures. Far too many people seize this opportunity to commit fraud, which in turn halts intended improvements or services. For example, the Houston-based Dubuis Health System and Southern Crescent Hospital for Specialty Care […]
Crowe Horwath: How to apply accounting rules for related-party transactions
Related-party transactions have played a significant role in accounting failures and frauds. In a study of Securities and Exchange Commission fraud allegations by the Committee of Sponsoring Organizations of the Treadway Commission, 18 percent of companies alleged to have committed fraud were accused of using related-party transactions to hide misstatements in financial reports. “Yet the […]