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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Goodwill can factor into a sale or acquisition

"Blue skies smiling at me"

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Topics: Auto, dealer services, GAAP

Artificial Intelligence is Improving How Used Cars Are Sold

Posted by Sheryl Grady on Oct 23, 2018

The term “artificial intelligence” or “AI” may conjure up sci-fi images of robots and futuristic machines. But many businesses today are using AI to obtain more accurate data and help owners and managers make better decisions.

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Topics: Auto, dealer services, AI, Artificial Intelligence, used cars

How to Mitigate Disaster with Interruption Insurance

Posted by Trey Hardy, Tax Supervising Senior on Oct 23, 2018

No part of the country is immune from disaster. Whether your construction company operates near water or in a desert, in the city or the suburbs, a natural calamity could stop you in your tracks and even put you out of business. For this reason, it’s a good idea for every contractor to at least consider business interruption insurance.

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Topics: Construction, insurance

How to create a fair wage structure for your medical practice

Your wage structure can vary widely depending on whether your practice is new, with freshly hired staff, or is older, with staff that have been with the practice for many years. For instance, you may find your office in the awkward position of having a long-term medical receptionist who makes more money than newly hired registered nurses. These apparent inequities can create resentment among staff. Your practice can generally handle this, though, via a smart wage structure and policy.

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Topics: wages

Gift and Estate Taxes Are Changing

As many of you may already know, there was a significant increase in the lifetime exclusion for Estate and Gift taxes. Lets break it down.

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Topics: Tax, TCJA, gift tax, estate tax