Healthy Growth Blog Archives

Cost of Living Adjustments for Pension Plans and Retirement-Related Items for 2020

By Donea Boiner / Healthy Growth Blog / November 7, 2019

By Audit & Assurance On November 6, 2019, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for the 2020 tax year. Changes to the limits are based on the Social Security cost-of-living increases. Below are the new 2020 plan limitations: 2020 2019 401(k), 403(b) and 457(b) deferral …

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The Ultimate Year-End Tax Planning Checklist for Transportation

By Donea Boiner / Healthy Growth Blog / November 5, 2019

By John Valle, CPA | Principal, Transportation Leader | jvalle@applegrowth.com | Twitter: @valle_CPA Year-end is here, and while 2019 closes and another decade begins, it’s time for brokers, carriers, and owner operators to proactively plan for 2020. Year-end is more than just preparing financials for the upcoming tax period; it’s a key time for business …

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Final Overtime Rule Announced by the DOL – Effective Jan. 1, 2020

By Donea Boiner / Healthy Growth Blog / September 24, 2019

By Audit & Assurance Breaking News Today – Tuesday, September 24, 2019 The Department of Labor announced the long-awaited final overtime rule making an estimated 1.3 million American workers eligible for overtime pay under the Fair Labor Standards Act (FLSA). The final rule updates the earnings thresholds necessary to exempt executive, administrative, or professional employees from …

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Making the Final Push to the ASC 606 Finish Line

By Donea Boiner / Healthy Growth Blog / September 19, 2019

By Brandon Fredericks, CPA | Senior Manager, Audit & Assurance Now that summer 2019 is behind us, making the final push for ASC 606 revenue will be of the utmost importance for those remaining private companies. As a quick refresher from some of my other articles and webinars, the new revenue recognition model is a …

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Explaining Guideline Public Company Method for ESOP Participants (In an Easy Way)

By Donea Boiner / Healthy Growth Blog / September 19, 2019

By Eric Flickinger, CPA/ABV | Manager, Business Valuation Educating employees about the company’s financials can go a long way to maximize employee engagement. Going a step further, teaching participants the basic concepts of how valuation methods work can empower participants to drive company value. Unless your participants are financial experts, communicating any valuation method will …

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Year-End Balance Sheets for Bonding

By Donea Boiner / Healthy Growth Blog / September 6, 2019

By Chris Benko, CPA | Principal, Audit & Assurance | Leader, Construction and Real Estate Niche Wrapping up year-end financial statements is critical for all business owners, including construction contractors. Preparing year-end financials can help owners navigate bonding capacity for the following year. Reviewing Bonding Year-End Statements When it comes to providing year-end financial statements …

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Be at One with Your Customer

By Donea Boiner / Healthy Growth Blog / August 26, 2019

Article #3 in the New Business Owner Series By Toby Kaye, CPA/ABV | Manager, Tax As a business owner, you will always be juggling multiple priorities. Regardless of the situation in your business, your attention must be laser-focused on your target market. Helping your customers is the reason you entered the business. You must understand them …

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Planning Ahead – Designing Your Succession Plan

By Donea Boiner / Healthy Growth Blog / August 26, 2019

Before you start, choose your destination Article #2 in the Succession Planning series By Toby Kaye, CPA/ABV | Manager, Tax I had discussed in the initial article about listing your desired exit outcomes in priority order during the planning phase. Any additional time spent on this phase clarifying your goals will pay dividends throughout the …

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Ohio’s Final 2020 – 2021 Budget Bill

By Donea Boiner / Healthy Growth Blog / August 20, 2019

By Logan Jaworski | Associate, Tax As we await the smoke to clear from the Tax Cuts and Jobs Act of 2017 (TCJA), Ohio has just passed changes of their own for the 2019 tax year. For tax years 2016 and forward, Ohio Rev. Code Section 5747.01(B) allowed anyone who reports income from a pass-through …

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“Double Dipping” in Divorce

By Donea Boiner / Healthy Growth Blog / August 20, 2019

By Jason Bogniard, MBA, ASA, CVA, EA | Principal, Business Valuation The concept of “Double Dipping” in divorce litigation is a fervently debated and quickly evolving issue in domestic relations courts across the State of Ohio, and the nation for that matter. So, what is double dipping and why should you care? Double dipping is only an …

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