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Category: Private Business

October 2, 2017

Putting Hedging Strategies to Work for Your Business

The Financial Accounting Standards Board (FASB) recently issued some targeted improvements to its guidance that could encourage more companies to engage in hedging arrangements to minimize volatility in their financial statements. Here’s a close-up on how businesses can hedge price fluctuations and why businesses and their investors alike approve of the changes to the hedge accounting rules. Hedging Some costs — such as interest rates, exchange rates and commoditized raw materials — are subject to price fluctuations based on changes… Read more ›

September 15, 2017

Trump administration signals employer-friendly shift

The U.S. Department of Labor (DOL) has begun taking steps to loosen the reins on employers, turning away from some Obama administration initiatives. While recent actions indicate that the crackdown on joint employers and employers using independent contractors is over, it’s important to remember that employment-related tax laws are enforced not by the DOL but by the IRS — so these changes have no effect on liability for payroll taxes. In particular, a worker who would be considered an independent… Read more ›

September 13, 2017

Tax Planning Critical When Buying a Business

If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax implications. However, if you neglect tax issues during the negotiation process, the negative consequences can be serious. To improve the odds of a successful acquisition, it’s important to devote resources to tax planning before your deal closes. Complacency can be costly During deal negotiations, you and the seller should discuss such issues as whether and how much… Read more ›

September 12, 2017

Updated Form I-9 Must Be Used Starting September 18, 2017

Employers will be required to use a newly released and revised Form I-9 starting September 18, 2017. The new form, released in July 2017 by the U.S. Citizenship and Immigration Services, is a mandatory form that employers must complete to ensure that each employee is authorized to work in the United States. An I-9 form must be completed for both citizens and non-citizens; workers for which these forms are completed must present acceptable documents to prove their identity and work… Read more ›

August 20, 2017

DOL’S Overtime Rule Lands in Limbo

Employers must comply with a variety of laws involving the minimum wage and overtime. As you may know, the overtime rules were going to change dramatically last year before a federal court stepped in to delay the changes. Now, the Trump administration is signaling that it may revise the current rules and is seeking feedback from the public. Background The Obama administration’s 2016 release of an updated rule regarding federal overtime pay for executive, administrative and professional employees (also known… Read more ›

August 13, 2017

6 Questions Every Succession Plan Should Answer

CBM participated in a nationwide survey of auto dealers to examine the extent to which they think about succession planning for their businesses. Read more here. Findings from our first nationwide survey revealed that auto dealers, like other professions, are pushing succession planning back by more than 5 years. Furthermore, nearly 50 percent of the dealerships surveyed admitted that while succession is important, they haven’t dealt with it yet. Unlike other studies you may find in the market, our succession… Read more ›

April 18, 2017

Ten Techniques to Increase Your Company’s Profits

They say little things mean a lot. And relatively small expenses can add up to a huge amount of money your company could be wasting. By cutting costs, you can enhance your bottom line in several ways. Here are 10 ideas: 1. Improve cash flow. If your business is seasonal, ask your biggest vendors to let you stock up now but pay when customers buy. Also, check into renegotiating your leases to pay only those nine or 10 months out… Read more ›

February 14, 2017

Satellite Locations or Consolidation: Review the Details

When business starts to increase, it’s time to dig in your heels a little deeper to turn your firm’s revenue growth into an upward trend — rather than just a good month. Buying or renting a larger facility can help. There are certain key factors to consider when making a decision to expand or consolidate your physical plant operations base. Here are some questions to consider before you start allocating dollars to the plan: Do You Want To…    … Read more ›

February 13, 2017

Reap the Rewards of an Executive Retreat

In theory, executive retreats are a wonderful idea. Your organization’s top leadership goes off to a secluded, perhaps posh, location to concentrate on the Big Picture needs of the business without distraction. The reality is that there are many ways a retreat can go wrong, scuttling all your good intentions and leaving you with a big dent in your budget.  For a positive outcome, you need to plan and execute the retreat carefully. The keys to success include developing an… Read more ›

December 15, 2016

OSHA Updates Tracking of Workplace Injuries and Illnesses

OSHA is modernizing how it receives information on workplace injuries and illnesses. For years, employers have logged the data, and now they also will have to submit the information electronically. Some of the data will be found on the agency’s website, in an effort to keep firms, the public and the government better informed about workplace hazards.