8 Steps to a More Efficient Practice

Posted by Jules DeWitt, CPA, ACS Supervising Senior on Feb 28, 2019

Let’s face it — most business and medical practices don’t have the problem of being too efficient in their operations. On the contrary, many medical practices suffer from a range of bottlenecks and redundancies that waste time and energy. These broadly fall into several practice areas, including the front office, the back office and the physicians. Here are eight areas to home in on to improve procedures and reduce waste.

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Topics: Healthcare, consulting, medical, practice, How to, dental

Keeping Your Donors on Top of 2019 Charitable Contribution’s Tax Implications & Requirements

Posted by Van Nguyen on Feb 28, 2019

With the first year under the new tax law behind them, your contributors may be looking to structure their charitable giving in new ways. Although the deductibility of most gifts hasn’t changed, some of the record keeping requirements have. Helping your donors understand the requirements and benefits of their gifts to your not-for-profit organization will help strengthen those relationships.

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Benchmarking Your Dealership for Success

Posted by Cristina Tirado, Tax Services on Feb 28, 2019

In the past, comparison has been described as the thief of joy, this article intends to defend "comparison" as more than just a thief, but rather a source of knowledge than can help a dealership gauge their performance through the use of benchmarking tactics. These benchmarks are put in place to identify strengths and weaknesses across departments and also across other dealerships. The article will dive into a variety of different metrics along with tips on how to give context and relevance to the numbers by identifying a basis of comparison for the data.

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Topics: Auto, dealer services, benchmarking, dealership

A Brief Q & A with Lance Trammell

Over the last six months our Construction Industry team here at Lane Gorman Trubitt has been working on producing an informative video series covering the new revenue recognition guidance and how it will impact how contractors consider and account for revenue on its contracts with customers. During that time we have fielded questions about this topic and its impact on the construction industry. Here are the some of the most frequently asked questions.

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Topics: Real Estate, Construction, Financial Accounting Standards Board, Revenue Recognition, FASB

Managing Sleepless Nights: Social Professionalism

Posted by Lee Ann Collins, CPA, Managing Partner on Feb 28, 2019

My name is Lee Ann Collins, managing partner of Lane Gorman Trubitt, LLC (LGT), a public accounting firm in Dallas, and this job is keeping me up at night.

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Topics: managing sleepless nights, professional services, social media, policy

Managing Sleepless Nights: Employee Retention

Posted by Lee Ann Collins, CPA, Managing Partner on Jan 30, 2019

First and foremost, I need to introduce myself. My name is Lee Ann Collins, managing partner of an accounting and advising firm in Dallas called Lane Gorman Trubitt, LLC (LGT), and this job is keeping me up at night.

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Topics: consulting, small business, benefits, ACS, employee retention, managing sleepless nights

Make sure you know the deadline for your taxes

Posted by lgtcpa on Jan 30, 2019

The government shutdown did not change the deadlines for submitting your taxes. Here is a list of a few important dates.

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Topics: Tax, gift tax, estate tax

The Wayfair Decision Part 2

In response to the Supreme Court decision in South Dakota v. Wayfair (click here for our previous article on this subject), the Texas Comptroller has adopted amendments to Rule 3.286 regarding “remote sellers” (vendors with no physical presence in Texas).  These amendments go into effect on January 1, 2019.

Summary

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Topics: SALT, Wayfair, State and local taxes, LGT

The State of the Millennial

Posted by Bell Holder on Nov 30, 2018

Recently Ernst & Young (EY), completed their millennial survey. They surveyed 1,202 individuals between the ages of 20 and 36 across the United States. Their results show that millennials are changing but are not always staying well informed.

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Your contractor’s license: Don’t leave home without it

The notion of starting work on a project without a license may seem unthinkable. But, in their rush to win bids and start work, many contractors have run afoul of licensing issues. Here’s how it can happen.

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