Disaster Preparation Can Save Your Business

There is no way to prevent your business from suffering losses that result from a sudden and unexpected disaster – but there are steps you can take now to plan for the worst. According to the Michigan Association of CPAs, you don’t need a large company budget to protect your company from financial ruin in the event of a disaster. Here are several steps you should take now to make sure your company remains in the black....-MORE-

Hiring Your Children Is Good Business

It’s only July and the kids are already bored. Why not put them to work? When you pay your children reasonable wages to work in your family business, you provide your offspring with valuable knowledge and get a few special tax breaks in the process. If you’re a business owner, you’ll want to read what the Michigan Association of CPAs has to say about hiring your children....-MORE-

Every Family Business Needs A Succession Plan

There’s a widely published statistic that says only one-third of family-owned businesses survive the transition to the second generation. A primary reason for this dismal survival rate lies in poor succession planning, reports the Michigan Association of CPAs. While issues of mortality and family relationships can make succession planning difficult, a well-constructed plan is essential to passing the business on to the next generation. Here are several key strategies for a successful transition....-MORE-

Five Advantages To Incorporating Your Business

Owning a small business can be a risky venture. One way to limit your personal liability is by incorporating your business, reports the Michigan Association of CPAs. While incorporation requires more paperwork and expense than a sole proprietorship or a partnership, it offers important legal and tax advantages....-MORE-

How To Create An Ethical Culture In Any Size Business

In today’s fast-paced, competitive, and demanding business environment, employees in both small and large businesses can find themselves facing difficult ethical dilemmas. For this reason, every business – regardless of size – needs to provide knowledge and resources to help employees act ethically....-MORE-

Michigan Association of CPAs