Strombeck Solutions: Seller Notes for Acquisitions
“With the new automated process from Strombeck Consulting, I was able to get more data every week, and the numbers were 100% reliable. I saved significantly on labor costs and my team was able to use that time to focus on other tasks.” Mike MacKubin, retired CFO of DiPasqua Enrerprises, Inc., operator of 120 Subway stores in Central Florida (http://www.subwaydipasqua.com) Like many growing businesses, DiPasqua Enterprises had accumulated a series of inputs for its reporting and payroll that included programs and spreadsheets that provided data for manual inputs into the company’s primary accounting software. Read more…
Strombeck Solutions: Succession and Transition Planning
The Boomer cycle is winding down and Boomer business owners are more and more preparing for the time when they will, by necessity or intention, take leave of the thing they built. Whether transitioning to the next generation, or to another owner, the best intentions are well thought through and planned. As Stephen Covey put it, “Begin with the end in mind.” What are YOU thinking about endings? We can help. Read more…
Image credit: Strombeck Solutions: Business Process Automation
Last month we mentioned how we are helping clients leverage technology to maximize productivity and profits. A fun fact of our programming team is that they are allotted time to invest in creative projects. The result is an affiliate company called Breadboard, which is about to launch a new mobile app. Terra Mango is a Location Based Strategy (LBS) game where players can build virtual towers where real buildings exist, battle with troops, in real space, in real time. https://terramango.com/kickstarter
Strombeck Solutions: Business Process Automation
Are you leveraging technology to maximize productivity? (see HBR article above) One of the fastest growth areas of helping you “manage, grow and enjoy your business” is in the area of business process automation. From automating a sales process with integrations to Sales Force, to improved inventory management, to better information dashboards – a little bit of coding to connect your systems can go a long way to driving revenues and productivity. Read more…
Strombeck Solutions: Recruiting
For years Strombeck has been an active part of many client’s hiring of key financial staff. QuickBooks and Excel abilities, personality and intelligence profiles and background checks were part of our standard process. Recently we’ve joined forces with myStaffingPro to better post to top job boards, process candidates and deliver people solutions. If you’re filling a need in your financial staffing, talk to us today! Read more…
Image credit: Strombeck Solutions: IRS Provides Retroactive Penalty Relief
Shortly after publishing. Last Month’s ProfitMatters (February 18 to be precise) the IRS issued Notice 2015-17 providing retroactive relief to the $100-per-day-per-employee penalty we addressed in February’s issue. Mind you, it affects 2014 retroactively, so you should still address the possibility of the penalty in 2015. Check with your Strombeck advisor. Forbes: IRS Spares Small Employers Big Obamacare Penalties For 2014
Image credit: Tax Policy Center Strombeck Solutions: Uninsured Individual Penalties Rise
So you’re a small employer under the Affordable Health Care definition (under 50 full-time employees) and you already know you don’t have to provide healthcare insurance. But are your employees aware that their penalty goes up significantly this year if they are not covered? It may not impact you directly as an employer, but indirectly it may impact your ability to retain people. The Tax Policy Center provides an easy to use calculator to estimate the 2015 and 2016 penalties. TPC: ACA Tax Penalty Calculator
Image credit: Strombeck Solutions: DOL Penalties For Health Insurance Reimbursement
If your Company is paying for or reimbursing anyone for health insurance outside of a company-sponsored-ACA-compliant plan, you may be subject to penalties are $100 a day per company employee, up to $36,500 per employee per year. Got your attention? The penalties are enforced by the Department of Labor (DOL). If your company is paying for or reimbursing you or anyone for any health insurance outside of the company’s ACA compliant plan, you should stop immediately. Dept of Labor: FAQ’s About ACA Implementation
