While planning for retirement is a fun part of the succession planning discussion, we must also cover the less pleasant subject of planning for an untimely death. Most of this information also applies to a permanent disability as well. According to Forbes, three out of five business owners are left vulnerable to consequences of an…
The merger and acquisition process can seem daunting to someone who has no experience and isn’t working with a broker. Over the years we have heard a number of horror stories and have compiled the following list of the top 10 mistakes in mergers and acquisitions:
As you look to purchase a business make sure you are doing it for the right reasons. Don’t just say, “I want to get rich.” That way of thinking probably won’t cut it, unfortunately. You need to make sure you have wisdom, passion, and a solid plan for your new business. Do your due diligence! There are…
Over the past few years we have seen an increased focus by the North Carolina Department of Revenue (NCDOR) on dentists for the audit of sales and use tax compliance. With this in mind, we want to work with our Practice owners to educate and proactively prevent the massive impact these audits can cause. Sales…
Did you start or acquire a new business this year? If so, you may feel a little overwhelmed with the new responsibilities and you could be a little intimidated interacting with the IRS for the first time. The first thing you should do as a new business owner is get a tax ID number or…
As your team of trusted advisors, one of our main objectives is to provide you with the knowledge and resources to help you achieve your goals. In today’s digital world, we understand that you are susceptible to cybercrime and identity theft daily. We have compiled a few cybersecurity tips to help protect you against these…
Your first question is likely, what is a PEO? Simply, it’s a Professional Employer Organization. That probably doesn’t help your understanding, does it? To define PEOs, we’ve brought in an expert in the industry, Jeff Wanner, to describe the components and advantages further. What is a PEO? PEOs (Professional Employer Organizations) have become a widely…
Historically, small businesses, including dental Practices, have met the need for employee insurance with a traditional group plan or providing an increase in salary to allow employees to purchase their own insurance. With the work of Congress, there is a new option in the marketplace. This option is the qualified small employer health reimbursement arrangement…
John Bly, CEO of LBA Haynes Strand, is on Corey Kupfer’s Fueling Deals Podcast today sharing his deal-making strategy. “It wasn’t until my fifth acquisition that I ran into trouble. I enjoyed sharing my story and the importance of research with Corey,” describes John. Listen to the full podcast episode by clicking this link! The Fueling…
A new rule issued by the Department of Labor in 2018 expanded the availability of association health plans (AHPs) for small businesses. AHPs allow small businesses to band together within industries, professions, or geographic regions to either purchase large-group coverage or self-insure. In North Carolina, this is a popular option and it exists in many…
The traditional choice for most businesses is a group health insurance policy. This business chosen plan provides coverage to employees, and potentially, employees’ dependents. Depending on your Practice size, this traditional option may still be a good fit for you. However, for the majority of single doctor locations, this proves to be prohibitively expensive and…
The accounting function should be a main priority for startup businesses. According to the Small Business Administration (SBA) Office of Advocacy, about 80% of small businesses survive the first year. This seems like a high percentage considering the common belief is that most businesses fail within the first year. About half of those small businesses…