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Recent News

R&D Tax Credit: A Possible Solution for Increasing Cash Flow

by Matthew Nistler, CPA After months of lockdown, the economy is slowly coming back to life, eliciting sighs of reliefs from business owners nationwide. Nevertheless, businesses are still grappling with uncertainty. Many are wondering how they can hit pre-pandemic revenue levels and generate cash flow. For some businesses, the research and development (R&D) tax credit…

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How Updated Bonus Depreciation Rules Could Impact Your Manufacturing Business

by John Juntunen, CPA One of the benefits of the Tax Cuts and Jobs Act (TCJA) was the extension of the 100% bonus depreciation rules. Thanks to a technical error, the updated rules excluded qualified improvement property from accelerated depreciation, essentially shutting businesses out of the benefit. Then came an unexpected silver lining.  The Coronavirus…

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Why Welcoming Key Managers into Your Ownership Team Could Make Sense Right Now

by Scott Danger, CPA, CVA, and Andrew Brower, MBA, ASA Your key managers are the people who keep your business afloat. They may also be the people to whom you plan to transition your business. If this is true for you, the present moment—i.e., in the midst of an economic downturn—could be an ideal time…

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Returning to Work: OSHA Guidance for Employers

by Tamara Hastings, PHR Does your organization have a re-opening plan in place? The Occupational Safety and Health Administration (OSHA) has issued guidance for reopening businesses that recommends each establishment conduct a hazard assessment for all jobs. It also clarifies OSHA’s positions on temperature checks, coronavirus testing and face masks. This is consistent with their…

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6 Ways to Prevent Inventory Fraud in Your Business

by Darin Styles, CPA, CFE The mention of “corporate fraud” often conjures up images of money—money-laundering schemes, embezzled checks, and fraudulent charges on a company account. But workplace fraud can and often does involve noncash assets. In fact, noncash fraud schemes account for 19% of fraud cases uncovered in small businesses with more than 100…

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Planning to Transition Your Business to Your Kids? Believe It or Not—Now May Be the Time to Act

by Scott Danger, CPA, CVA, and Andrew Brower, MBA, ASA To paraphrase the great Albert Einstein: Every crisis presents an opportunity. This is easy to forget in the face of dire headlines, decreased revenues, and unending uncertainty. But it continues to ring true. For business owners, the economic downturn caused by COVID-19 could present valuable opportunities…

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Step and Grade Compensation Plans: Designing a Program to Drive More than Just Marketability

by Leah Davis, CPA Ask any employer today to name their greatest business or operational challenges and you are guaranteed to hear “finding qualified and skilled employees” in the top three of nearly every list. For many public employers, this struggle to build and retain a talented workforce can often be made even more difficult…

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How a Cost Segregation Study Could Help You Save on Taxes and Improve Cash Flow

by Kevin Kalal, CPA, MBT If you’re considering purchasing or have purchased a building within the last few years, it’s possible you could benefit even more from your acquisition. Sure, there are plenty of ways you could accomplish this. But one increasingly popular—and effective—tactic is to conduct a cost segregation study. Performed by tax experts…

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Technology & Data Solutions:
New Service-Group Offering

FOR IMMEDIATE RELEASE EDINA, MN | June 3, 2020 – To address client needs within an increasingly data-driven business landscape, Abdo, Eick & Meyers, a nationally recognized accounting firm, announces the launch of a new service group: Technology and Data Solutions. The following five services will be offered under the Technology and Data Solutions umbrella:…

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Paycheck Protection Program Flexibility Act

On June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act (PPPFA) which aims to provide relief to businesses which may have had concerns surrounding the requirements to receive forgiveness for their Paycheck Protection Program (PPP) loans. This legislation was pushed through the House and Senate just as the initial 8-week coverage window…

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