Tools to help you reach major financial goals.
Polk & AssociatesLarge enough to serve a diverse clientele, yet small enough to maintain a hands-on approach, we are committed to maintaining the highest accounting and ethical standards with continuous education, extensive research resources, and excellent quality control. Polk and Associates is a member of the Michigan Association of Certified Public Accountants, and the American […]
Marketing to Multiple Generations
Today’s renter pool comprises a wide range of ages that can pose challenges to developers, owners and operators. Eric Clark of Bainbridge Cos. shares four tips on how communities can appeal to anyone.
Focus in Student Housing Amenities Changes from Luxury to Health and Wellness
Some companies that provide student housing say they have seen a shift away from over-the-top amenities that were popular with off-campus renters a few years back.
What Do SFR Renters Want?
SFR owners want residents to stay put in order to avoid re-leasing expenses. How do they achieve this goal?
A midyear review should go beyond financials
Now’s the perfect time for business owners to stop, take a breather and engage in a midyear review. Naturally, this will involve looking at your financials. But go beyond those numbers and look at areas such as: 1) HR: specifically, how’s employee turnover trending compared with last year? 2) Sales and marketing: for example, are you meeting monthly sales goals and getting good ROI on marketing efforts? 3) Production: for instance, is product quality slipping or customer satisfaction dropping? Contact us for help finding the answers.
2 tax law changes that may affect your business’s 401(k) plan
When you think about recent tax law changes and your business, retirement benefits probably aren’t what first come to mind. But if your business sponsors a 401(k) plan, be aware of two changes: 1) Beginning in 2018, former employees with outstanding plan loan balances have until their tax return filing due date (plus extensions) to repay the loan or contribute the outstanding balance to an IRA or other qualified plan and avoid taxes and penalties. 2) Beginning in 2019, limits on employee 401(k) hardship withdrawals will increase. Contact us to learn more.
The tax impact of the TCJA on estate planning
The massive changes the TCJA made to income taxes have garnered the most attention. But the new law also made major changes to gift and estate taxes. While the TCJA didn’t repeal these taxes, it did significantly reduce the number of taxpayers who’ll be subject to them by more than doubling the gift and estate tax exemption. Yet factoring taxes into your estate planning is still important. First, the higher exemptions are only temporary. Second, you still may face state estate tax. Third, tax-smart estate planning can reduce income tax. Questions? Contact us.
Could a long-term deal ease your succession planning woes?
As some business owners begin to consider retirement, they just can’t identify a suitable successor. One potential solution is a long-term deal that gradually cedes control to an outside buyer. The process typically begins with the owner selling a minority stake, followed by a tryout period to assess compatibility. If all goes well, the minority stakeholder may offer a takeover bid. Buyers look to long-term deals to manage risk and avoid outside financing. Meanwhile, the seller can feel more comfortable in retirement knowing his or her business is in good hands.
Bookings vs. shippings: A sales flash report primer
Do bad sales months sneak up on you? Don’t forget the power of flash reports to display timely snapshots of critical data. For example, every workday, generate a flash report that shows total new orders taken (bookings) compared with total orders filled (shippings). After you’ve established the timeframes of bookings and shippings, assess your sales staff’s activity by displaying bookings and shippings by salesperson. Use the data to establish sales goals and track progress toward these objectives. For further information about flash reports, please contact us.
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