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Thursday, 05 October 2017

Introducing the Save Local Businesses Act

Written by The Rehmann Team

Franchise owners are celebrating the recent legislation Congress proposed to permanently protect franchises from joint employer liability, because many believe the National Labor Relations Board’s (NLRB) current policies are misleading and don’t have the interests of workers and small businesses in mind. In addition, franchise owners consider these existing policies to pose a threat to the franchise industry by redefining the term “joint employer,” and disrupting the way franchise businesses run day-to-day operations. U.S...

Published in Franchise
Wednesday, 02 March 2016

Preparing for New Lease Accounting Standards

Written by Richard Heidebrink, CPA and Mark Osbourne, CPA

Lease accounting standards are being revised for the first time in decades. If your organization leases property or equipment, the new rules will affect you — perhaps greatly. Here’s an overview of what is changing and how to prepare. Balance sheet transparency Two big changes are coming...

Published in Audit & Assurance
Friday, 05 February 2016

Multiple Employer Plans: A Good Fit for the Franchise Industry

Written by Gerald Wernette, CPA, CEBS, AIFA, C(K)P

Article originally featured in Franchising World, January 2016 issue Franchisees struggling to provide cost-effective retirement planning options for their employees should consider a multiple employer plan (MEP) for their 401(k) platform. These plans: Take advantage of economies of scale and group purchasing power to offer reduced costs and improved benefits to participating employers and employees Can relieve employers of many administrative burdens associated with sponsoring a qualified retirement plan Transfer certain fiduciary duties and liabilities from the employer to the MEP plan sponsor If you haven't considered a MEP for your 401(k) platform yet, I think those are three compelling reasons you might want to take a look. What is a MEP? A MEP is a single retirement plan – such as a 401(k) or pension plan – maintained by two or more employers...

Published in Franchise
Monday, 01 February 2016

Ask Your Tax Preparer About Security

Written by IRS

Before handing over your sensitive personal and financial information, ask your tax preparer about his or her security safeguards. The IRS recommends that tax preparers have the following precautions in place: Use robust security software that is updated regularly. Perform periodic deep scans to look for malware and viruses on computers. Inform employees about phishing scams and the dangers of clicking unsafe links on office computers...

Published in Tax
Wednesday, 09 September 2015

People power: Three ways to preserve your most valuable asset

Written by Roger Webster

No matter what type of business you’re in, people are your most valuable asset. And like any other asset, it’s critical to treat your employees as an investment and take steps to enhance and preserve the value of your human resources. Here are three things you should be doing to attract, retain and motivate a quality workforce. 1...

Published in Business Consulting
Monday, 10 March 2014

Turn Your Business Into a Franchise Player

Written by Sharon Berman, CPA, CGMA

Cloud-based accounting offers significant benefits for any type of business, but it's particularly valuable in the franchise industry. A good cloud-based system provides franchisors and franchisees alike with access to real-time financial information, allowing them to monitor and analyze performance 24/7 from virtually anywhere. And they can view and manage this information from a variety of devices, including laptops, tablets and smartphones. Meeting the challenges of franchising Franchising is based on a simple, yet powerful, concept: Taking a proven business model and replicating it in multiple markets...

Published in Franchise
Thursday, 01 August 2013

Don't Leave that Money on the Table!

Written by Jill Franks

As featured in Toga Times Magazine. At a recent meeting with a franchise holder, we were discussing the disposition of unsold inventory at the end of each day.  He indicated that they could donate it to a local food bank or homeless shelter, but his accountant told him not to because it would send up a “red flag” to the IRS.  While no one wants to hear from the IRS, if you have incurred a legitimate business expense, you should take the deduction...

Published in Franchise
Monday, 18 February 2013

Are your Profits Walking Out the Door?

Written by Don Burke

As featured in Franchising World Magazine. Tackling Fraud Today Fraud today is big business. The Association of Certified Fraud Examiners estimates that worldwide fraud loss could total as much as $3.5 trillion - or roughly the combined gross national product of England and Australia...

Published in Franchise
Tuesday, 31 January 2012

Opportunities For Franchise Funding

Written by Greg Light, CFA and Gerald Wernette, CPA, CEBS, AIFA

BWD Magazine, Winter 2011-12 In today's economy, many individuals have lost their jobs, been forced to take pay-cuts or have ended up in dead-end jobs. So it is no surprise that many have decided to take a chance at starting a business of their own. First time entrepreneurs often choose to open a franchise since it's generally thought to have less risk than starting a new business from scratch. One of the primary concerns for most people about to start a business is how it will be financed...

Published in Franchise

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