Insights: Article

Imagine this: Your small manufacturing company just landed a lucrative contract with a client in another state. You're thrilled about the growth opportunity, but unbeknownst to you, this single deal has just triggered tax obligations in a state where you've never set foot. Welcome to the complex world of state tax nexus.

As a business owner, you've poured your heart and soul into building your company. But have you given thought to what happens when it's time to step away? Exit planning is a crucial step that many entrepreneurs overlook, often until it's too late. Let's dive into why exit planning matters and how you can start preparing for your business's future today. 

Written policies aren't just paperwork – they're your organization's backbone. They protect everyone involved: your organization, board members, staff, and volunteers. Regularly reviewing these policies ensures they stay relevant and effective. Remember, it's about the process, not the people. When examining procedures, focus on objective standards that best protect your organization's interests.

This summer, the Buckeye State is rolling out an expanded tax-free holiday that promises to boost sales and offer substantial savings. But there are also some challenges that businesses should be aware of. From July 30 to August 8, 2024, Ohio will suspend sales tax on a wide range of items, including dine-in restaurant meals. Let's dive into what this means for your business and how you can make the most of this opportunity and avoid potential problems.

Inventory management is a critical component that can make or break a company's success when it comes to manufacturing. Effective inventory management ensures that you have the right materials, in the right quantities, at the right time, and in the right place. By mastering this essential aspect of your operations, you can reduce costs, improve efficiency, and ultimately, boost your bottom line.

As a business owner, expanding your operations into new states can be an exciting prospect. However, with growth comes new responsibilities, including the obligation to file taxes in those states. Unfortunately, not all businesses are aware of the potential pitfalls and risks associated with state and local taxes, leaving them vulnerable to scams and costly mistakes.

Employee Benefit Plans (EBPs) play a crucial role in securing the future of millions of workers. However, with the rising tide of cybersecurity threats, these plans are increasingly vulnerable to attacks that could compromise sensitive data and assets. Understanding the importance of cybersecurity in relation to EBPs is vital for Plan Sponsors, Recordkeepers, and Participants alike.

Effective fundraising is critical for many not-for-profit organizations to fully fund their programs and execute the mission. But how do you know if your fundraising efforts are effective, and you are using the best strategy? Analyzing key fundraising metrics can provide valuable insights to help you optimize your approach and get the most out of your fundraising investments.

Welcome to the second installment of our Comprehensive Budget Series. Previously we explored the why, when, and how of budgeting. In this article, we’ll focus on the practical steps involved in building a budget that aligns with your goals and supports your organization’s financial health. We’ll discuss strategies for allocating resources, making informed decisions, and addressing challenges that may arise during the budgeting process. No matter what type and size business you’re managing, the principles and techniques covered here will help you create a budget that sets you on a path to success.

This article explores how integrating a robust data warehouse with Microsoft’s Power BI can streamline your data analysis, enhance business intelligence, and drive strategic decisions that lead to sustained business growth. Join us as we delve into the mechanics of data warehousing, the benefits of Power BI, and how their combined effort can revolutionize your approach to data management.