How to Make the Most of Digital Marketing
Digital marketing is not a new phenomenon. However, new realities imposed by the COVID-19 pandemic have highlighted the importance of digital marketing for businesses. Basically, digital marketing revolves around using digital channels to advertise. Such channels include mobile devices, search engines, social media, websites, email and others to help reach consumers. The purpose is to... Read More →
Strothman and Company recognized as one of the fastest-growing local businesses in 2020 by Louisville Business First
Strothman and Company has made the 2020 Louisville Business First Fast 50 list! This list honors the 50 fastest-growing private companies in Greater Louisville each year. This marks Strothman and Company’s third inclusion on the prestigious Fast 50 list, having also earned the recognition in 2014 and 2008. “We are proud to be a three-time... Read More →
Construction Project Updates
Meaghan Reynolds, Partner I noticed a construction news headline recently that mentioned that money is available for new projects, but that few of these projects are breaking ground (i.e., COVID-19). Out of interest, I checked to see what larger projects are happening throughout the U.S. Here are a few that I found: Tesla paid $97... Read More →
Think the Department of Labor Won’t Conduct a Review of Your Benefit Plan During the Coronavirus Pandemic? Think Again
Jennifer French, Principal During the coronavirus pandemic (“COVID-19”) that has consumed the majority of our 2020 year, businesses are struggling to simply survive, are required to deal with social distancing restrictions, and often are working with limited resources due to employees working on a limited and/or remote basis. One would assume that during these unprecedented... Read More →
The Wealth Tax ‐ Part 3
Dustin Wells, Tax Manager Simply put, as we’ve outlined, a wealth tax is an additional percentage tax on YOUR assets. OK, so… now what? Where do we go from here? Where do we go from here since we currently do not have a solid grasp on who will be President come November? Well, it depends.... Read More →
Strategies Companies Can Implement to Recover Faster
Small businesses nationwide were already facing cash problems before the COVID-19 pandemic, according to McKinsey & Company. The firm found that almost one-third of small businesses were either seeing losses or making just enough to stay in business, but not realizing profitability. Looking at businesses selling essential and non-essential items, McKinsey & Company reports that... Read More →
Tips for Retiring in the Next 10 Years
The stock market continues to perform with relative resilience, despite the current economic decline. But to be clear, without 100 percent participation in the economy – in terms of small business job creation, consumer spending, and company growth and expansion – the stock market is apt to reposition prices to reflect slower growth. With no... Read More →
Five Ways to Manage Back-to-School Stress
If you’re anxious about sending your children back to school, you’re not alone. A recent poll from ABC News/Ipsos showed that 45 percent of parents don’t want their kids in the classroom at all. But whether your kids are in school or learning at home, there’s still plenty of worries to go around. How do... Read More →
IRS takes a stance on DraftKings, FanDuel
Dustin Wells, Tax Manager The IRS issued a new memo Friday, 7/23 outlining federal excise taxes applicable to Daily Fantasy Sports (“DFS”) betting websites such as DraftKings and FanDuel. The proposed excise tax(es) and occupational tax(es) would be equal to a .25 percent in states where contests are legal and would be levied upon the... Read More →
ActionCoach Virtual Marketing Seminar: Are you Connecting with Your Target Customer?
Join ActionCoach Louisville this Thursday, 9/3, at noon EST for a virtual seminar with professional coach Rick Plasket. Rick will be discussing how to aim your marketing resources to reach the right customers at the right times. Register now.
Assess and Adapt: 5 Tips for Increasing Efficiency in Professional Services Firms
Quinn Hart, CPA, Tax Partner It is no secret that many businesses are struggling during these challenging times. With so much uncertainty about when employees can fully return to work, whether or not customers will be able to pay the bill, and how long the cash reserves will last, many businesses have taken steps to... Read More →
The Wealth Tax ‐ Part 2
Dustin Wells, CPA, Tax Specialist This is Part 2 of Dustin’s analysis of the Wealth Tax. Read Part 1 here. What are the practical effects of a wealth tax if implemented on Americans? And what are the positive and negative arguments for and against a wealth tax on Americans? In Part 2, we will outline... Read More →
How to Develop an Employee Leave Policy During COVID-19
According to the United States Department of Labor’s Wage and Hour Division, the Families First Coronavirus Response Act addresses how select businesses must give their workers paid sick leave or expanded family and medical leave under permitted circumstances in light of COVID-19. Effective starting April 1, 2020, the following will be in effect through Dec.... Read More →
Borrowing From Your Retirement Plan: New CARES Act Rules
It’s been nearly half a year since Americans first became widely aware of the coronavirus contagion within the United States. While for a brief month it looked as if we had the virus in hand, since then it has spread wildly out of control in many areas. People who did not suffer dramatic financial consequences... Read More →
Help for People Struggling to Pay Bills
The impact of COVID-19 has caused many Americans to suffer hardships, one of which is struggling to make ends meet. But take heart; there are solutions. Here are a few areas in which creditors are working with people to alleviate some of the stress. Mortgages Fortunately, the Coronavirus Aid, Relief and Economic Security Act, allows... Read More →
R&D Tax Credits May Be Part of the Next Tax Relief Bill
As the economic impact of COVID-19 lingers and an impending second wave is on everyone’s mind, Congress is already thinking of new legislation to stimulate the economy. One of the ideas on the top of the list is an expansion of the Research and Development (R&D) tax credit as part of the next COVID-19 relief... Read More →
Robotics Carves Out Niche in Various Businesses
Away from the movies, robots are becoming a reality in everyday life. Robots have played a major role in manufacturing industries to perform basic tasks that are either dangerous or laborious for humans. As technology becomes relatively cheaper – through the availability of components such as processors, sensors, batteries and cameras – robots are now... Read More →
How Will the Market Price in Q2 Earnings?
The New York Fed Staff Nowcast predicts a negative 14.3 percent (-14.3 percent) growth of real GDP for Q2 of 2020 and a positive 13.2 percent growth of real GDP for Q3 of 2020. Clearly, the Fed is expecting a rebound in the second half of 2020. This forecast, presented in the July 17, 2020:... Read More →
IRS Gears Up for Aggressive Enforcement
Recently, the IRS Commissioner testified before the Senate Finance Committee, sending the message that the IRS is committed to catching intentional tax evaders. There was no ambiguity in the message of his testimony to Congress; he noted that under his watch, the IRS will aggressively pursue those purposely evading their tax obligations with civil and... Read More →
Live Video Webinar – Challenging Times: Choosing the Right Family Business Advisors
Family businesses by their nature are run by owners that wear many hats and oftentimes “grew up” in the business. In these unique and challenging times, experience is everything. It is not unusual for family businesses to seek external expertise and resources. The real challenge for closely held family businesses is navigating through the process... Read More →