Cost control takes a total team effort
They say you’ve got to spend money to make money. But that doesn’t mean business owners should accept high operational costs. Cost control is a formal management technique through which you evaluate operations and isolate activities with excessive expenses. It forces you to ask tough questions about the efficiency of your business, how much you’re paying for supplies or materials, and whether technological upgrades are needed. This isn’t something you can do on your own. You’ll need a total team effort from managers and advisors. Let us be a part of that team.
Do you need to adjust your withholding?
If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But it also means you essentially made the government an interest-free loan. This would usually indicate that you should consider reducing your withholding. But 2018 is a little different: To reflect TCJA changes, the IRS updated the withholding tables, generally reducing the amount withheld. The new tables might cause some taxpayers to not have enough withheld. Contact us for help determining whether you should adjust your 2018 withholding.
Say, just how competitive is your business anyway?
To be successful, a business must be competitive. Is yours? Here are some ways to assess this: First, examine your operating environment. Anything from severe weather to a sudden change in buying trends could affect competitiveness. Next, identify important tangible and intangible resources. Technological obsolescence, for example, could change everything. Then look at the strength of your leadership team. Flagging employee morale could leave you struggling. Last, evaluate relationships with suppliers, customers and regulators. Make sure all are in good shape.
A review of significant TCJA provisions affecting small businesses
Now that small businesses and their owners have filed their 2017 income tax returns (or extensions), it’s a good time to review the Tax Cuts and Jobs Act (TCJA) provisions that may significantly impact their taxes for 2018 and beyond. Depending on your entity type, either the new 21% corporate tax rate or the new 20% qualified business income deduction may substantially cut your taxes. And all businesses need to be aware of the breaks the TCJA enhances and the ones it limits or eliminates. The key to maximizing your tax savings is to begin 2018 tax planning now.
A Building Security Checklist for Crime Prevention
Surprising as it may seem, many experts believe that a well-maintained property can deter crime. Why? Because a poorly maintained building demonstrates that its owner is no longer able or willing to control his property. It thus becomes an invitation to any criminal who wants to seize control.
The Top Ten Reasons to Go Paperless
There are plenty of reasons why it’s a good idea to go paperless in the office—ranging from environmental to budgetary. Here are our top ten to keep in mind the next time you make the case to your boss.
LIHTC Increase Included in Spending Bill
Cantwell, who has been pushing to expand the LIHTC program for several years, cited how the recent tax reform bill harms future development of affordable housing. Although the 2017 tax legislation retained the housing credit program, several other measures in the bill are expected to significantly reduce the number of affordable homes built in the nation.
Today’s Residents Want Modern Ways to Pay
The average American checks their smartphone almost 50 times per day. For millennials, the number is even higher, at 74. With half of the renter population under the age of 30, digital technology is a game changer at apartment communities for both the residents and property managers.
Legislative Watch 2018
In the waning days of 2017, many policy issues affecting the apartment industry have been front and center for Congress and the administration.
Home vs. away: The company retreat conundrum
Many people assume a company retreat must happen off-site. Not true: An on-site retreat is a cost-effective option. You won’t have to rent space and can probably save on locally catered food and bulk beverages. But employees often struggle to focus and find inspiration in-house. Off-site events can be a welcome and exciting change of pace. When planning one, be ready to negotiate. Get multiple quotes and compare prices for space, food and beverages, and guest rooms if you’ll need them. Don’t be shy about asking for discounts. Contact us for more ideas and info.