Sandusky, Ohio – July 30, 2024 – Payne Nickles & Company, a leading advisory services firm, is excited to announce that it has been named, for the second year in a row, an IPA 500 firm in the 2024 INSIDE Public Accounting Practice Management Survey. This recognition highlights Payne Nickles’ dedication to excellence and its …
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Starting in 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA). The CTA was enacted into law as part of the National Defense Act for Fiscal Year 2021. The CTA requires the disclosure of the beneficial ownership information (otherwise known as “BOI”) of certain entities from people …
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Planning for retirement is a crucial aspect of managing a small business. Unlike traditional employees who may have access to employer-sponsored benefits, business owners must proactively manage their retirement savings. This involves navigating fluctuating incomes and variable cash flows while balancing the demands of running a business. Tax-deferred retirement plans offer a valuable solution, providing …
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Navigating a financial audit can be daunting, but with the right preparation and understanding, it can become a manageable and beneficial process. Financial audits help ensure the accuracy of your financial records and compliance with regulations and can reveal areas for improvement within your business operations. Understanding the Audit Process A financial audit is a …
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The construction industry has seen significant technological advancements and substantial financial benefits. Key technologies such as project management software, Building Information Modeling (BIM), and other digital tools enhance efficiency and drive cost savings. Here’s a detailed look at how these innovations transform the financial landscape of construction project management. Project Management Software: Streamlining Operations …
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In the construction industry, managing financial risk is crucial for ensuring project success and maintaining profitability. Financial risks can arise from various sources, including contract disputes, unforeseen expenses, and cash flow issues. This article will explore strategies for managing financial risk from a CPA’s perspective, helping construction business owners mitigate potential pitfalls and enhance their …
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Sandusky, Ohio – July 8, 2024 – Payne Nickles & Company CPAs and Business Advisors is proud to announce the promotion of four outstanding team members in recognition of their dedication, hard work, and contributions to the firm. Tanner Stiert, CPA, has been promoted to Manager. Tanner graduated from Miami University with a B.S. in …
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Sandusky, Ohio – July 8, 2024 – Payne Nickles & Company CPAs and Business Advisors is proud to announce the promotion of Brennan Otto, CPA, to Partner in Training in recognition of his dedication, hard work, and contributions to the firm. Brennan Otto’s journey with Payne Nickles & Company began as an intern during the …
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As a business owner, the Profit & Loss (P&L) report is one of your most vital tools. This financial statement gives a window into your business, revealing how your money is generated and spent. The main goal of the P&L report is to understand how your business has earned a net profit or incurred a …
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A common question, and one where many taxpayers often make mistakes, is whether it is better to receive a home as a gift or as an inheritance. Generally, from a tax perspective, it is more advantageous to inherit a home rather than receive it as a gift before the owner’s death. This article will delve …
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