CPA Blog

Strengthen strategic planning with competitive intelligence

Details

Published: Wednesday, 19 April 2023 10:56

Written by Phillip Strickler, CPA.CITP

Business owners and their leadership teams are rightly urged to engage in regular strategic planning to move their companies, thoughtfully and consciously, in a positive direction.

However, no matter how sound a set of strategic objectives might be, it’s always important to bear in mind that your competitors have plans of their own. That’s why you should consider integrating competitive intelligence into your strategic planning efforts.

Read more ...

There’s a favorable “stepped-up basis” if you inherit property

Details

Published: Tuesday, 18 April 2023 10:52

Written by Phillip Strickler, CPA.CITP

A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is an important area and is too often overlooked when families start to put their affairs in order.

Read more ...

5 valuation terms that every business owner should know

Details

Published: Wednesday, 12 April 2023 09:42

Written by Phillip Strickler, CPA.CITP

As a business owner, you’ll likely need to have your company appraised at some point. An appraisal is essential in the event of a business sale, merger or acquisition. It’s also important when creating or updating a buy-sell agreement or doing estate planning. You can even use a business valuation to help kickstart or support strategic planning.

Read more ...

Paperwork you can toss after filing your tax return

Details

Published: Tuesday, 11 April 2023 10:33

Written by Phillip Strickler, CPA.CITP

Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain records. You may have to produce those records if the IRS audits your return or seeks to assess tax.

Read more ...