There is some exciting news, especially for smaller plan sponsors of defined contribution plans. The Department of Labor (DOL) has revised the Form 5500 and instructions for 2023, bringing about a substantial change in the criteria used to determine the requirement for an audit. Updates to Participant Count Methodology Employee benefit plans that filed as a large […]
Since the COVID-19 pandemic, there’s been an enormous uptick in the number of cyberattacks and the amount of damage they cause. This damage, which has disproportionately affected small and mid-sized businesses is now a top-of-mind concern for any organization that values its long-term stability and profitability. While there’s been a lot of advice out on the
Family-owned businesses account for 59% of the United States’ private sector workforce, employing more than 83 million people, according to familybusiness.org. Suffice it to say, family firms make up a significant portion of the economy, with businesses large and small sharing common challenges with managing the employees that drive business growth. While family businesses, overall,
The judges met and the results are in! Here are the honorees we will be celebrating at our 25th Annual Family Business Awards program on November 15th! Community Engagement – Anthony-Thomas Candy Company Conway Center Champion – The Conway Family Family Business of the Year – West Ohio Tool Co. Lifetime Achievement – David
The American workplace isn’t what it used to be, and the qualities attributed to strong leadership have evolved. While a strong and decisive personality can help you pave the way to move your organization forward, empathy and compassion are now just as important. Team members want an empathetic leader who can be present throughout the
The 12th Annual Family Business Forecast survey, conducted by the Conway Center for Family Business, revealed that more than 8 in 10 Central Ohio family business leaders are satisfied with the current state of their family business at the midway point of 2023. Six in 10 (63.5%) Central Ohio family business leaders predict their business
We are deeply saddened by the passing of our dear friend and co-founder, J. Richard “Dick” Emens. Dick died peacefully at home on June 28 after a lengthy battle with melanoma.
While the Employee Retention Credit (ERC) has been around for a few years, we are just now starting to see IRS audits of these credits begin in earnest. Just because a refund has been paid, it doesn’t mean you’re free and clear.
You’ve made a significant investment by purchasing, constructing, or upgrading property, but you may be overlooking a smart tax strategy. It’s a given that you want to increase your cash flow and reduce your taxes. A cost segregation study can help you do that by depreciating real property over much shorter periods of time than
Family businesses are finding Entrepreneurial Operating System, or EOS, an incredibly useful approach that is flexible enough to evolve with their changing circumstances. If your family business is currently running EOS and you are an EOS Integrator or the equivalent on the leadership team, join our EOS Integrator Peer Group. Held quarterly, these facilitated sessions