States may now collect sales tax from out-of-state sellers

| Alerding Alerts, Business Miscellaneous

The U.S. Supreme Court’s 2018 decision in South Dakota v. Wayfair overturned the long-standing precedent that prevented states from collecting sales taxes from online and remote sellers unless they had a physical presence in the state. Instead, the court, under Wayfair, introduced an economic nexus test based on the sellers’ sales volume into each state. States may now impose sales-tax collection obligations on online and remote sellers that conduct more than $100,000 in sales or more than Read more [...]

FASB votes to delay effective date for lease standard

| Alerding Alerts, Business Miscellaneous, Financial

The effective date of FASB’s standard on accounting for leases will be delayed for private companies and certain other entities after a unanimous vote Wednesday by FASB. FASB directed its staff to draft an Accounting Standards Update (ASU) that will change the effective date and be issued following a formal written ballot by the board, which is expected to take place in November. Under the ASU, the effective date is delayed one year to fiscal years beginning after Dec. 15, 2020. Early-adoption Read more [...]

Why mission always reigns supreme

| Business Miscellaneous

By Chris Mennel, CPA     Think for a moment about starting a restaurant. As an owner, you have to worry about borrowing money from a bank, hiring employees, creating a menu, setting prices, paying bills and an endless list of other tasks.  But if the food doesn’t taste great and the experience isn’t enjoyable, then the restaurant is never going to make it. Nonprofits follow a similar trajectory. There are so many important aspects: fundraising, board governance, succession planning, fraud Read more [...]

Alerding CPA Group named as one of the “Best Places to Work” in Indiana

| Business Miscellaneous

(INDIANAPOLIS) – The directors of Alerding CPA Group, an Indianapolis-based certified public accounting firm, are pleased to announce that it has been named as one of Indiana’s “Best Places to Work”, a statewide program designed to identify, recognize and honor those participating employers with the leading workplace cultures. This 14th annual program was created by the Indiana Chamber of Commerce and Best Companies Group. Companies from across the state entered the two-part survey process. Read more [...]

Improving efficiency at board meetings

| Business Miscellaneous

Unproductive board meetings waste time, demotivate board members and frustrate staff.  While most boards function relatively well, they may not be functioning at their highest level. Here are several simple changes you can make right now that will keep your meetings productive and on target. Running an efficient board meeting helps everyone to stay focused, energizes board members and leads to improving the overall effectiveness of the board. Read more [...]

Family businesses need succession plans, too

| Business Briefs, Business Miscellaneous

Those who run family-owned businesses often underestimate the need for a succession plan. After all, they say, we’re a family business — there will always be a family member here to keep the company going and no one will stand in the way. Not necessarily. In one all-too-common scenario, two of the owner’s children inherit the business and, while one wants to keep the business in the family, the other is eager to sell. Such conflicts can erupt into open combat between heirs and even destroy Read more [...]

ESOP support remains strong despite midterm election results

| Business Miscellaneous

On the surface, the recent midterm elections appear to have had a negative impact on ESOPs (Employ Stock Ownership Plans), because ESOP supporters in both arms of Congress were either defeated or retired. However, many supporters still remain and the Indiana environment continues to be strong as evidenced by Gov. Holcomb’s recent declaration of October as “Employee Ownership Month”. This political change was one of the major focuses featured at the recent 2018 ESOP Association’s Annual Conference in Las Vegas. Read more [...]

Shared space: What to consider before teaming up

| Business Miscellaneous

 Nonprofits nationwide are increasingly considering shared workspace arrangements to lower rising facility costs. These arrangements are particularly appealing in areas where nonprofits are being priced out of the real estate market and to those determined to cut operating costs. The term “shared space” refers to workspaces shared by small businesses, freelancers, consultants, start-ups and others. Depending on their needs, tenants can pay for short- or long-term access to private offices, conference rooms and common areas. Office equipment and services, such as high-speed Internet; photocopiers, printers and scanners; and coffee and office supplies, are shared among the tenants. Read more [...]

Alerding CPA Group named to inaugural IPA Top 400 accounting firms in the nation

| Business Miscellaneous, News

FOR IMMEDIATE RELEASE (INDIANAPOLIS) – The directors of Alerding CPA Group, an Indianapolis-based certified public accounting firm, are pleased to announce that the firm has been named to INSIDE Public Accounting’s (IPA) inaugural Top 400 firms in the country. IPA 400 firms are ranked by U.S. net revenues and are compiled by analyzing responses received from its annual surveys completed by firms across the country. Unlike firms on the IPA 300 list, IPA 400 firms range in size from $4.55 Read more [...]

Could a long-term deal ease your succession planning woes?

| Business Briefs, Business Miscellaneous

Some business owners — particularly those who founded their companies — may find it hard to give up control to a successor. Maybe you just can’t identify the right person internally to fill your shoes. While retirement isn’t in your immediate future, you know you must eventually step down. One potential solution is to find an outside buyer for your company and undertake a long-term deal to gradually cede control to them. Going this route can enable a transition to proceed at a more manageable Read more [...]