Insights: Article

Every not-for-profit has a story worth protecting. While daily operations and program delivery often take center stage, implementing strategic risk assessment practices can transform your organization's ability to serve and grow. Understanding and managing different types of risk isn't just about compliance – it's about building a stronger foundation for your mission. 

As business advisors serving Ohio's dental community, we're seeing a significant shift in how dental practices will operate and grow, thanks to recent legislative changes. Senate Bill 40, signed into law by Governor Mike DeWine, introduces two game-changing reforms that will impact practice management and professional mobility

When you are running a business, you need your technology to work not just sometimes but all the time.

Recent hurricanes impacting Florida and several other states have created significant challenges for residents and businesses. Rea is committed to helping you understand and maximize the information available for tax relief and assistance programs. Here's a detailed breakdown: 

As an employer, you recognize that choosing a retirement plan for your employees is a pivotal step in securing their financial well-being. One of the key decisions they'll face on this journey is choosing between a Roth and a traditional pretax 401(k). We understand that making this choice can be challenging, so we’re breaking it down for you to equip your employees to make decisions that impact their unique circumstances. 

If you’re running a business in manufacturing, you're no stranger to the challenges of managing finances. But here's a question: Are you giving your cash flow the attention it deserves? If not, you might miss one of the most powerful tools in your financial toolkit. 

Let’s think about this from a different perspective. Think of the dashboard of your car. Your car’s dashboard provides essential information such as speed, fuel level, engine health. This information is imperative to make informed decisions while driving. Imagine driving a car without one. This could leave you stranded on the side of the road without fuel, or with citations for speeding, which are not good things. This is the same power as your financial statement. It is like the financial dashboard for your practice. It gives you the power to make informed decisions for your business. Without the financial statement, it can be difficult to steer your practice in the right direction.  

Clear communication is essential in any professional partnership. Whether you're working with our firm or considering hiring another CPA, understanding these key points can help you get the most out of this important relationship.

As a not-for-profit leader, you're passionate about your mission. You're changing lives, improving communities, and making the world a better place. But here's a curveball you might not have seen coming - when it comes to taxes, your not-for-profit might have more in common with for-profit businesses than you think. 

As we observe Cybersecurity Awareness Month this October, it's crucial to shine a light on the importance of digital security in all areas, including business. This year's theme, "Secure Our World," reminds us that simple steps can significantly enhance our online safety. We'll explore how this applies to small businesses through a real-life cautionary tale that emphasizes the need for rigorous cybersecurity measures.