Recent Articles from Doug Griess
What Is the Difference Between Business Succession Planning and Estate Planning?
Business owners have a lot on their shoulders when considering the future of their businesses. Unfortunately, succession planning can feel so daunting that many successful business owners put it off longer than they should. As a result, they fail to take action or succumb to misconceptions about what should be done. READ — Exit Planning: […]
What Business Owners Need to Know About the Employee Retention Credit
If you’re reading this, you probably missed the window on filing for the Employee Retention Tax Credit. But not all hope is lost – businesses have until 2024 to look back on their pandemic payrolls and retroactively claim the credit by filing an amended tax return. Companies have up to three years to determine whether […]
Increased Cybersecurity Risks Are a Threat to Corporate Governance
Technology evolves daily, and so do the risks associated with it. According to Accenture’s latest State of Cybersecurity Resilience report, surveyed businesses experienced an average of 270 attacks in 2021, a 31% increase compared to 2020. Successful attacks also increased. This growth is the result of many factors, including rapid innovation. According to Gartner, attack […]
What to Do If Someone Uses Your Trademark
From McDonald’s golden arches to Nike’s “Just do it,” trademarks can be incredibly valuable. So it’s no wonder that protecting trademarks is a big deal. An adequately protected trademark allows a business to build its brand, increase customer loyalty and protect its brand identity. Trademark infringement is when a trademark is unlawfully used by another […]
How to Conduct a Mid-Year Tax Strategy Audit
Don’t wait until the end of the year to think about your tax planning and strategies. If you’re already seeing major changes in your business and/or personal taxes, you must prepare to assess and shift your tax strategies now. That way, you can protect yourself and your business from unnecessary tax liability. Business owners that […]
What Employers Must Know About FMLA
When the Family and Medical Leave Act (FMLA) became law in 1993, it introduced new requirements for employers. The Department of Labor oversees many workplaces to ensure that the worker rights created by FMLA are upheld. At its core, FMLA provides workers with the right to unpaid leave, a continuation of medical coverage during that […]
Tips for a Business Succession Plan
As a business owner, you already know that planning for the future is imperative. While you are already likely doing this, you may not be planning as far into the future as you should be. Inevitably, there will come a day that you are no longer around or capable of running your business. As older […]
Buying a New Business? Don’t Forget to Review all Contracts
The purchase of a new business is one of the most significant transactions you will ever make. It’s an exciting yet stressful time with many lucrative opportunities. However, if you don’t carefully pay attention to due diligence or gloss over something critical, the whole deal could go wrong or, worse yet, you could be buying […]
The Value of Ongoing Contract Reviews
Every business relationship or project should start with a contract. It’s the cornerstone of the relationship or endeavor. It’s a rulebook, so to speak, for all involved parties to follow. A solid contract defines and governs the parties’ obligations when something unanticipated happens — as it often does. Contracts determine the success or failure of […]
Why you need to keep your deal teams small for mergers & acquisitions
Although the professionals that make up such a team are vital to making smart business decisions and covering a business, inviting too many people to be on the team can cause significant problems.
The 4-step process to selling your business
Here are the four steps in the process of selling your business that you should follow for a successful transaction so that you can avoid the most common mistakes and disputes.
Costly mistakes to avoid when choosing your company structure
It’s crucial to consider more than just the short-term picture—think about your long-term business plan and what financial implications it might have for you personally and for your business.