H&S Companies has joined the AICPA Governmental Audit Quality Center (GAQC). GAQC is a voluntary membership opportunity offered through the AICPA and promotes the importance of quality governmental audits. Because of our continued dedication to providing the best services to our clients, we joined GAQC.
To learn more about H&S Companies auditing services click here.
H&S Companies has joined the AICPA Governmental Audit Quality Center (GAQC). GAQC is a voluntary membership opportunity offered through the AICPA and promotes the importance of quality governmental audits. Because of our continued dedication to providing the best services to our clients, we joined GAQC.
To learn more about H&S Companies auditing services click here.
H&S Companies has joined the AICPA Governmental Audit Quality Center (GAQC). GAQC is a voluntary membership opportunity offered through the AICPA and promotes the importance of quality governmental audits. Because of our continued dedication to providing the best services to our clients, we joined GAQC.
To learn more about H&S Companies auditing services click here.
H&S Companies has partnered with Parmentor O’Toole and the White Insurance Agency to bring those in the craft brew industry the ultimate resource – the Brewers Professional Alliance. The BPA can help brewers with all aspects of their business, from formation to sale.
In honor of our new division, we’ve launched a new website to function as a resource for those in the brewing industry. Visit brewerybiz.com for useful links, industry news and updates, as well as more information about the Brewers Professional Alliance.
Learn the basics of accounting with Randy Filbrandt on 7/18
Randy Filbrandt, Certified Public Accountant & H&S Companies Partner, will be teaching the Michigan Small Business & Technology Development Center’s Fundamentals of Financial Management Workshop on Wednesday, July 18, 2012.
This introductory class is designed to help small business owners understand how to apply financial information to managing their business more effectively. This will give those in-charge, the ability to understand accounting principles, financial statements, and work more effectively with their accounting team.
When: Wednesday, July 18, 2012; 6:00 PM – 9:00 PM
Where: Michigan Alternative Renewable Energy Center
200 Viridian Dr, Muskegon, MI 49440
Cost: Free
Register: MI-SBTDC Website
Randy Filbrandt is a partner and has been with H&S Companies since 1994. His background includes work with non-profits and retirement plan audits, as well as, monthly accounting and tax preparation for individuals and businesses. Randy is a member of the MACPA, AICPA, BNI of Muskegon, and is active in the Muskegon and Grand Haven Chambers of Commerce. Randy has also served on the board of the Hume Home since 2002.
Learn the basics of accounting with Randy Filbrandt on 7/18
Randy Filbrandt, Certified Public Accountant & H&S Companies Partner, will be teaching the Michigan Small Business & Technology Development Center’s
Fundamentals of Financial Management Workshop on Wednesday, July 18, 2012.
This introductory class is designed to help small business owners understand how to apply financial information to managing their business more effectively. This will give those in-charge, the ability to understand accounting principles, financial statements, and work more effectively with their accounting team.
When: Wednesday, July 18, 2012; 6:00 PM – 9:00 PM
Where: Michigan Alternative Renewable Energy Center
200 Viridian Dr, Muskegon, MI 49440
Cost: Free
Register: MI-SBTDC Website
Randy Filbrandt is a partner and has been with H&S Companies since 1994. His background includes work with non-profits and retirement plan audits, as well as, monthly accounting and tax preparation for individuals and businesses. Randy is a member of the MACPA, AICPA, BNI of Muskegon, and is active in the Muskegon and Grand Haven Chambers of Commerce. Randy has also served on the board of the Hume Home since 2002.
Learn the basics of accounting with Randy Filbrandt on 7/18
Randy Filbrandt, Certified Public Accountant & H&S Companies Partner, will
be teaching the Michigan Small Business & Technology Development Center’s Fundamentals of Financial Management Workshop on Wednesday, July 18, 2012.
This introductory class is designed to help small business owners understand how to apply financial information to managing their business more effectively. This will give those in-charge, the ability to understand accounting principles, financial statements, and work more effectively with their accounting team.
When: Wednesday, July 18, 2012; 6:00 PM – 9:00 PM
Where: Michigan Alternative Renewable Energy Center
200 Viridian Dr, Muskegon, MI 49440
Cost: Free
Register: MI-SBTDC Website
Randy Filbrandt is a partner and has been with H&S Companies since 1994. His background includes work with non-profits and retirement plan audits, as well as, monthly accounting and tax preparation for individuals and businesses. Randy is a member of the MACPA, AICPA, BNI of Muskegon, and is active in the Muskegon and Grand Haven Chambers of Commerce. Randy has also served on the board of the Hume Home since 2002.
Simply segregating duties between various team members can help reduce the chance of fraud occurring.
According to an article in theDetroit Free Press, Samuel Craig, a former assistant principal, was convicted of embezzling more than $36,000 from his union.
Craig was able to embezzle the money in his role as treasurer of his school’s union. He used blank, pre-signed checks, which officials believed would be used to pay bills, for his own use. Additionally, Craig opened a debit card linked to union funds and authorized electronic fund transfers to his personal bank account.
This story highlights the importance of implementing procedures to prevent fraud. Officials should review financial statements regularly, rotate financial duties if possible, and segregate duties to prevent one person from having too much power.
To learn more about fraud in business, read:
Small Businesses & Fraud – What you need to know
Fraud Happens. Learn the Facts.
Source: Former Highland Park assistant principal pleads guilty to embezzling from union by Melanie Scott Dorsey
Take time to sit down with your team to define your vision and mission statements.
The strategic planning process starts with knowing and defining your vision and mission statements. Together these two statements make a powerful impression regarding what’s important to your company, but people frequently think they’re the same thing. So, what is a vision statement and mission statement?
Remember, the mission should drive the vision – what you do each day, should push towards achieving what you want to see for the future. Once these two statements are defined, you can work towards developing a strategic plan that helps accomplish your stated goals.
For more information about strategic planning, contact Lynda Nance.
Lynda Nance
Business Development Strategist
616.884.7952
lyndan@hscompanies.com
If you made a charitable contribution and received a ‘perk’ in return, such as a free round of golf, you need to make sure you document it correctly.
Last week, a couple was denied their $18.5 million deduction due to a paperwork technicality, this week there was another case of a taxpayer losing their deduction based on a paperwork problem.
A $25,000 charitable contribution deduction was rejected because the donee organization failed to document whether the donor received any ‘perks’ as a result of the donation.
This needs to be documented because you may only deduct the donation less any perks received. Here are a few examples:
Contact the organization as soon as possible to receive proper documentation! The IRS has been cracking down on compliance with charitable contribution deductions, so you will want to make sure to keep your paperwork organized and ready for next tax season.
Further Reading + Useful Links
This Tax Season is Almost Over, But Stay Organized for Next!
In the News: Couple Loses $18.5 Million Deduction on Technicality
IRS Publication 561, Determining the Value of Donated Property
IRS Publication 526 (2012) Charitable Contributions
Form 8283, Noncash Charitable Contributions
