Strategic Inventory Management: A Comparative Analysis of JIT and Accurate Response Systems
For businesses with substantial inventory holdings, the associated costs can be significant. From warehousing expenses to salaries, insurance, taxes, transportation, depreciation, and shrinkage, the financial burden can weigh heavily on the balance sheet. Moreover, tying up working capital in inventory can detract from potential strategic investments. Minimizing these expenses is crucial for enhancing profitability and […]
Funding College Without Sacrificing Retirement
Paying for your child’s college education is a dream for many parents, but it shouldn’t turn into a retirement nightmare. In this article, we’ll explore how you can secure your child’s future while still safeguarding your retirement funds. By understanding the various options and pitfalls, you can make informed choices that benefit both you and […]
Business Travel Expenses: 2023 Per Diem Rate Changes
As a business owner, you are aware of the challenges that come with managing employee business travel expenses. The process of documenting and reimbursing these costs can be a time-consuming and frustrating task. However, there is a solution that can simplify the entire procedure. The IRS, in its recent Notice 2023-68, introduced the fiscal 2024 […]
Reminder on Connecticut’s Mandatory Employer Retirement Plans
Reminder on Connecticut’s Mandatory Employer Retirement Plans As a Connecticut small business employer, you are required to enroll in the mandatory CT Savers Plan by August 31, 2023 (extended date) or opt out of the CT plan, by implementing an employer-sponsored plan. How the CT Plan affects employers: Employers will be required to register, or […]
Nonprofits: Harness the Power of Cause Marketing
Not-for-profits with multiple sources of support generally are less likely to have budget shortfalls and are better able to grow and expand their services. If you’re looking for new funding sources, consider cause marketing. Made possible via a partnership with a for-profit business, cause marketing can boost your budget, your public profile and even your […]
Auditing Grant Compliance
Has your organization received any public or private grants to fund its growth? Grants sometimes require an independent audit by a qualified accounting firm. Here’s what grant recipients should know to help facilitate matters and ensure compliance at all levels. Federal compliance Federal awards require compliance with the Uniform Administrative Requirements, Cost Principles, and Audit […]
