The pandemic undoubtedly created a different type of shopping experience for consumers over the past 18 months, which required retailers to manage through some major disruptions. Decreases in foot traffic, face-to-face customer engagement, in-store experiences,...
For many companies, inventory represents a significant asset on the balance sheet. Whether it’s goods for resale, work in process, or raw materials, the sum of these can represent a significant portion of a company’s assets. Given the size of this asset, it’s...
For many manufacturers, the pandemic had a significant impact on capital expenditures in 2020. Most scaled back plans to build, renovate, make general improvements, or add lines, as the pandemic required a shift to focus more on managing their current levelsof...
One of the most critical areas that we recommend small businesses monitor on a continuous basis is cash flow. No matter if you are just starting your business or if you have been operating for several years, cash flow is the lifeblood of just about any entity, and in...
With the myriad of challenges and issues that businesses have had to navigate this past year, it can be easy to become distracted and lax with basic protocols and controls designed to mitigate losses due to theft and fraud. Historically, an increase in theft and fraud...
While many types of scams occur throughout the year, we generally see a spike in IRS scams during the primary filing season of January through April. IRS scams typically occur when an imposter pretending to work for the IRS contacts an individual by phone, e-mail, or...
A common issue we see taxpayers face is their ability to properly distinguish between a subcontractor and employee. Generally, employers must withhold income, Social Security, Medicare, and unemployment taxes on wages paid to an employee. However, if the individual is...
As we approach the end of an extremely challenging year, we would like to share our thoughts on a few key issues that we believe manufacturers will continue to face in 2021, and ideas for navigating them. While the road to recovery will be unique for every...