Latest News and Blogs

The Future of Customer Service Agents Working from Home

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As we venture past the peak of the pandemic, businesses are going to have to adapt to the new world in which they...

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Senate Passes Paycheck Protection Flexibility Act

On Wednesday night, the Senate voted unanimously in favor of the Paycheck Protection Flexibility Act. This new legislation makes key adjustments to the timeline for spending Paycheck Protection Program (PPP) funds and revises how loan recipients are required to allocate the money. Here is a brief overview of the key provisions contained in the bill: Loan recipients now have 24 weeks to spend the funds. Previously, they had to use all the money within eight weeks. ...

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New Guidance Regarding PPP Loan Forgiveness

On May 22, the Small Business Administration (SBA), in conjunction with the U.S. Treasury, released additional guidance for recipients of loans through the Paycheck Protection Program (PPP). A recent article from the Journal of Accountancy examines the details of the new release. The SBA issued two new interim final rules, one regarding requirements for loan forgiveness and the other covering procedures for loan review and responsibilities of borrowers and lenders. The article pulls out highlights from...

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Key Considerations for Recalling Your Workforce

Have you thought about what it will look like to restore your workforce? As more and more businesses receive loans through the Paycheck Protection Program (PPP) and consider recalling their employees, there are several key considerations to take into account. Established by the CARES Act, the PPP is an initiative that offers aid to small businesses via forgivable federal loans. Borrowers can qualify for up to $10 million in 100% federal government guaranteed covered loans. The...

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What Will the Post-Coronavirus Business World Look Like?

As the U.S. slowly starts to transition into reopening, many business owners are anticipating big changes—a new normal. While nobody can know for sure how things will turn out, today we want to spend some time pondering what the post-coronavirus business world might look like. What might reopening look like for businesses? Because of the governing system in the U.S., reopening will look quite different—and take place on a different schedule—from one state to another.  Some states...

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FASB Announces Further Delays of Revenue Recognition and Leases Standards

Following last month’s proposal to defer the effective date of two standards for private companies and nonprofit organizations, the Financial Accounting Standards Board (FASB) voted to delay the effective dates of revenue recognition and leases standards on May 20. The standards extension comes as a response to complications caused by the coronavirus pandemic. A recent article from Accounting Today examines the history of delays for these two items. This is not the first time that the...

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The Future Impact of the Global Pandemic on the Construction Industry

This article discusses how the Coronavirus is going to impact the construction industry on a number of levels in the near future. From mild adjustments to safety regulations, the changes are going to be inevitable. However, this article outlines how you can best position yourself for what is ahead, both in the short and long term. To view this article, click HERE to access the original content.

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Paycheck Protection Program Loan Forgiveness Best Practices

Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As we venture past the peak of the pandemic, businesses are going to have to adapt to the new world in which they reside in order to survive. The Paycheck Protection Program loan has become a lifeline for small businesses. Some of these loans may even be forgiven if...

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SBA Releases Application for PPP Loan Forgiveness

On Friday, May 15, the Small Business Administration (SBA) announced an important release for borrowers who received loans through the Paycheck Protection Program (PPP). The bureau made public a form and instructions for borrowers to use to apply for PPP loan forgiveness. The application must be completed and submitted to the lender that serviced the borrower’s PPP loan. It includes the following four components: A form for calculating the PPP loan forgiveness amount A PPP Schedule...

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Maintaining Your Mental Health During the Coronavirus Pandemic

There is a lot of scary stuff happening right now. Many are struggling to maintain good mental health in light of the coronavirus pandemic. For some, the mental strain is exacerbated by the fact that so many are practicing social distancing. So how can you maintain or strengthen your mental health in the midst of these dire circumstances? A recent article from BBC News offers the following tips: Take a step back from the news –...

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New SBA Guidance Regarding Loan Increases for Partnerships, Seasonal Employers

On May 13, the Small Business Administration (SBA) released new guidance regarding the Paycheck Protection Program (PPP), Business Loan Program Temporary Changes; Paycheck Protection Program – Loan Increases. This is a new interim final rule allowing for an increase in the amount of loan for which partnerships and seasonal employers are eligible. Let’s back up—why is further guidance in this area required in the first place? After the PPP was initially created, an interim rule released...

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What to Consider When Reopening

Many businesses and organizations across the country are evaluating and making plans to reopen. Some calls for ending stay-at-home orders are due to economic necessity. Others stem from a desire to maintain mental well-being through social interactions. Regardless of one's stance on why the country should begin to reopen, what is clear is this: it is the responsibility of everyone to take reopening steps with as much care and caution as possible. Although much remains unknown...

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New SBA Guidance Regarding Paycheck Protection Program

On May 13, the Small Business Administration (SBA) issued additional guidance regarding the Paycheck Protection Program (PPP). They added a highly anticipated new question to their lengthy FAQ: “How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request?” One of the requirements when submitting a PPP loan application is a self-certification by the applicant that the loan is necessary to support their ongoing operations in light of the current economic circumstances....

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The New Normal for the Construction Industry

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As we venture past the peak of the pandemic, businesses are going to have to adapt to the new world in which they...

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Playbook for Re-Opening Your Business

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As we venture past the peak of the pandemic, businesses are going to have to adapt to the new world in which they...

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Is My PPP Loan Still Forgivable if My Employees Refuse to Come Back to Work?

The Paycheck Protection Program (PPP) is a loan initiative created by the CARES Act that targets aid to small businesses dealing with losses resulting from the coronavirus pandemic. The big appeal of the program is that the portion of the PPP loan funds used for certain “allowable purchases” is fully forgivable. Firstly, what are the requirements for achieving PPP loan forgiveness? The SBA guidelines state that PPP loan funds will be forgiven (1) if an employer...

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SBA Releases Additional PPP FAQ Questions

On May 3rd, the Small Business Administration (SBA) issued a new round of guidance regarding the Paycheck Protection Program (PPP). They addressed three issues for which business owners have requested clarification, including: The impact of a laid-off employee refusing to be rehired on a borrower’s PPP loan forgiveness amount – If the borrower attempts to rehire laid-off employees at the same salary/wages and number of hours but the employees refuse, the employees may be excluded...

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The Commercial Impact of the Coronavirus on the Tech Industry

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. Specifically, within the technology industry, tips such as monitoring customer demands and assigning critical suppliers can be beneficial. To view this article, click HERE...

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How The Office of the Future Will Look After Coronavirus

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. Specifically, changes to the workplace such as wider corridors and better air filtration are occurring. To view this article, click HERE to access the...

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IRS Releases Notice Regarding Tax Deductions and PPP Loan Funds

On Thursday, April 30, the IRS released Notice 2020-32. The announcement effectively disallows a tax deduction for any expenses that are paid with forgiven Paycheck Protection Program (PPP) loan proceeds. The PPP was created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a historic $2.2 trillion stimulus package. The loan program allows small businesses to borrow funds equal to 2.5 months of specified payroll from the Small Business Association (SBA). If their loan expenditures...

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IRS Updates FAQ on Employee Retention Credit

On April 29, the Internal Revenue Service (IRS) released a large expansion of their FAQ on the Employee Retention Credit (ERC). The ERC was created as a part of the Coronavirus Aid, Relief, and Economic Stimulus (CARES) Act, a $2.2 trillion legislative initiative designed to stave off the impact of the coronavirus pandemic. It is a fully refundable payroll tax credit. Employers can use one of two methods to determine their eligibility for the ERC: The...

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Further Clarification on PPP Loans

The Payroll Protection Program (PPP) loans are top of mind for most leaders and owners of small businesses. Recently the headlines that feature PPP have been about high-profile companies receiving large PPP loans. Many are questioning the appropriateness and need for the companies receiving these loans. Those who are considering applying for the second round of these loans are wondering if they should apply. Even those that have already received loans are reconsidering whether to retain...

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Employee Retention Tax Credits and Your Business

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national, or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As a small business owner, it is important, now more than ever, to be familiar with the ins and outs of your business,...

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President Enacts $484 Billion Virus Aid Bill

On Friday, April 24, President Trump signed the Paycheck Protection Program and Health Care Enhancement Act into law. The new aid bill boosting funding for various initiatives in response to the coronavirus pandemic was passed in the Senate on Tuesday and by the House on Thursday. The legislation includes the following: $310 billion in additional funding for the Paycheck Protection Program (PPP). The original $349 billion that funded the program was depleted last week. $60...

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Achieving PPP Loan Forgiveness

Businesses that have managed to secure financing through the Paycheck Protection Program (PPP) are fortunate—but also saddled with a lot of red tape. Business owners and managers should be careful that they adhere strictly to the terms of the program in order to qualify for loan forgiveness. In response to the coronavirus pandemic, Congress created the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bills included $350 billion towards the PPP,...

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Where’s My Recovery Rebate?  

As part of the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act, direct economic recovery payments are being distributed to eligible American taxpayers. Distribution of recovery rebates began this week. If you are expecting a federal recovery rebate, but have not yet received it, visit the IRS website for more information. The IRS recently released a tool to provide information about: Your payment status Your payment type Whether the IRS needs more information from...

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SBA Issues Supplemental PPP Guidance

NOTE – on Thursday, April 16, 2020, the SBA announced it had fully committed the entire $350B PPP appropriation. Consequently, the SBA and banks are no longer accepting applications for PPP loans. This could change in the event Congress appropriates additional funding to the program. On April 14, the Small Business Administration (SBA) released new guidance regarding the Paycheck Protection Program (PPP), a $350 billion program that targets aid to small businesses dealing with losses resulting...

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CARES Act FAQ: Mid-Sized Business Lending Program

On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economics Security (CARES) Act. The historic $2.2 trillion stimulus bill includes $454 billion to support Federal Reserve emergency lending facilities to help mid-sized businesses dealing with losses resulting from the coronavirus pandemic. The legislation instructs the US Department of the Treasury to create a Federal Reserve program designed to funnel financing to banks and other lending institutions that make direct loans to mid-sized businesses. Below,...

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How Coronavirus Crisis is Affecting Construction

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. Specifically, within the construction industry, changes such as supply chain challenges and the CARES Act are occurring. To view this article, click HERE to...

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Small Business Funds from Virus Aid Package Are Dwindling

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. As a small business owner, it is important, now more than ever, to be familiar with the ins and outs of your business,...

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IRS Announces Additional Tax Deadline Relief

On April 9, the Internal Revenue Service (IRS) released Notice 2020-23, announcing their extension of many additional key tax deadlines for businesses, individuals, estates, trusts, and not-for-profit organizations. The tax bureau had already extended the April 15 tax filing deadline for federal income taxes to July 15, 2020 in response to the coronavirus pandemic.  The broad tax filing and payment deadline relief covers all taxpayers that have either a filing or payment deadline that falls between...

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Productivity Tips for a Virtual Environment

Social distancing measures imposed in response to the Coronavirus pandemic mean that many teams have suddenly found themselves working virtually for the first time. It is fortunate that modern technology makes this a feasible reality. However, it is still uncharted territory for many. While there are many advantages to virtual workforces, this arrangement also comes with its own set of challenges and difficulties. Today we want to examine some helpful productivity tips for working from home,...

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Emergency Paycheck Protection Loans

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. On March 27th, President Trump enacted the CARES Act, a $2.2 trillion piece of legislation designed to lessen the economic impact of the...

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Coronavirus is Rewriting the Future of Business

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. Specifically, topics such as strategic remote work, the rise of trust-based cultures, and operation practices being elevated are all discusses in this article. To...

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CARES Act Summary

On March 27, 2020, President Trump signed into law a sweeping $2.2 trillion stimulus package designed to abate the economic damages caused by the coronavirus (COVID-19) pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act is the third piece of legislation crafted to address the economic havoc being created by COVID-19. The bill contains many provisions, including an expansion of unemployment insurance, direct payments to Americans, a loan guarantee program for industries, a suite...

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Coronavirus’ Impact on the Construction Industry

As the country and even the world shift their attention to the seeming long-lasting impact of the Coronavirus, updates appear to be coming out each day. Whether the impact is on a global, national or individual industry level, this pandemic is already changing the way businesses are operating on a day-to-day basis. Specifically, within the construction industry, changes such as material delays and travel bans are occurring. To view this article, click HERE to access the...

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Maintaining Your Mental Health During the Coronavirus Pandemic

There is a lot of scary stuff happening right now. Many are struggling to maintain good mental health in light of the Coronavirus pandemic. For some, the mental strain is exacerbated by the fact that so many are practicing social distancing. So how can you maintain or strengthen your mental health in the midst of these dire circumstances? A recent article from BBC News offers the following tips: 1. Take a step back from the news –...

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Refundable Tax Credits Would Finance Paid Leave

FAMILY LEAVE SICK LEAVE Covered employer Private sector employers with fewer than 500 workers and government entities Private sector employers with fewer than 500 workers and government entities Qualifying circumstances Care giving for child younger than 18 whose day care or school closed Quarantine, medical diagnosis, care giving for another quarantined individual or for child whose day care or school closed Length of leave As many as 12 weeks Two weeks for full time workers and similar equivalent for part-time workers Benefit amount Unpaid for first 10 days, then at least two-thirds of a worker's normal pay rate, capped at $200...

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Federal Tax Return Filing Deadline Moved to July 15

On Friday, March 20, 2020, Secretary of the Treasury Steve Mnuchin released a statement that the federal tax filing deadline has moved in response to the ongoing coronavirus (COVID-19) pandemic. The new deadline of July 15, 2020, corresponds with the tax payment deadline previously delayed earlier in the week. However, there are some details that are not known at this point and we will hopefully receive more guidance from IRS soon. WHAT DOES THIS MEAN FOR...

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Families First Coronavirus Response Act

Congress passed H.R. 6201, Families First Coronavirus Response Act earlier this week.  Below are some important benefits. Please refer to this link for the summary of the bill. The Emergency Paid Sick Leave Act, Section 5102 This bill requires employers with fewer than 500 employees and government employers to provide employees two weeks of paid sick leave, paid at the employee’s regular rate, to quarantine or seek a diagnosis or preventive care for coronavirus.  The bill also...

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An Update on Office Procedures

We would like to share an update on how HeimLantz is responding to the rapidly changing environment caused by the continued spreading of coronavirus (COVID19).  At HeimLantz we feel well prepared to maintain our services to our clients, but we acknowledge there will be adjustments needed along the way as we, along with the rest of the country, navigate these unprecedented times. We highly value your business and we appreciate your patience with us during...

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Maryland Extends Business Tax Deadlines

To assist businesses affected by the economic impact of COVID-19, Comptroller Peter Franchot today announced he will extend business-related tax filing deadlines. The deadline has been extended to June 1st. The extension applies to certain business returns with due dates during the months of March, April and May 2020 for businesses filing sales and use tax, withholding tax, and admissions & amusement tax, as well as alcohol, tobacco and motor fuel excise taxes, tire recycling fee and...

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How HeimLantz is Addressing the Coronavirus (COVID-19)

At HeimLantz CPAs & Advisors the health and safety of our employees and our clients is of paramount importance. For this reason, we are taking specific precautions to protect our staff and visitors during the current outbreak of Coronavirus. With confirmed cases reported in our immediate geography, we are considering the potential impact and how we can best protect our clients and staff. According to the most recent information from the CDC, for most people, the...

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Construction Technology to Watch

This article acknowledges How the construction industry is one of the largest in our economy, while at the same time being one of the least efficient. However, technology solutions such as the design-build approach, sustainability, and modular construction are all expected to have a significant impact this year. To view this article, click HERE to access the original content.

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Choosing the Right Valuation Method for Your Company

This article discusses three different methods that one can use to value a business. For example, the asset approach, market approach, and income approach are all unique in their own way and could provide different benefits to meet what you are looking for. To view this article, click HERE to access the original content.

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Construction Technology to Watch

This article acknowledges How the construction industry is one of the largest in our economy, while at the same time being one of the least efficient. However, technology solutions such as the design-build approach, sustainability, and modular construction are all expected to have a significant impact this year. To view this article, click HERE to access the original content.

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Improving Your Small Business’ Financial Health

This article discusses how the financial health of a small business is comprised of more than just the amount of sales. Taking a look at topics such as revenue, expenses, cash flow, and automation can be very beneficial in this competitive business market. Five key questions to ask yourself are also outlined in this article. To view this article, click HERE to access the original content.

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Making Smart Risk Management Decisions

This article discusses what it is like to be in charge of making important decisions when it comes to day-to-day operations in a business. Topics such as risk tolerance, risk appetite, and insurance programs are all outlined in great detail. No matter your business industry or current business position, these insights are worth taking a look at! To view this article, click HERE to access the original content.

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Delivering Excellent Customer Service

In the business world, there is a bar that individuals must meet or exceed in terms of customer service. No matter how difficult the customer may be, claiming yourself as a professional implies that you hold yourself to a gold standard in the workplace. This article discusses some of the best ways to ensure great customer experiences. To view this article, click HERE to access the original content.

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Don’t Wait To File Your 2019 Taxes!

Below are some deadline dates to keep in mind for the 2020 Tax Year- March 16th, 2020 Partnership Returns S-Corporation Returns Estimated Tax Payments: April 15th, June 15th, September 15th, January 15th April 15th, 2020 Individual Tax Return Deadline Estate and Trust Income Tax Return C-Corporation Last Day to make an IRA Contribution Foreign Bank Account Reports (IRS FinCen Form 114) September 15th, 2020 Extended Deadline for Partnership Return September 30th, 2020 Extended Deadline for Estate and Trust Income Tax...

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Budget Tips for Covering A Surprise Tax Bill

Tax time is always a bit unnerving, but when you’re hit with a large, unexpected tax bill, it can be shattering. There are few people who have the resources to simply pull out their checkbook and write a check for thousands of dollars, yet it can feel like that’s your only choice. The truth is that even people who owe significant amounts of money have several options available to them, including taking advantage of the IRS’...

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Repairing Your Business’s Bad Credit Score

The creditworthiness of your business is measured by its credit score. This number is issued by Dun & Bradstreet, Experian, Equifax, and FICO SBSS, and is an essential reflection of your company’s payment reliability and timeliness. Why is Your Business Credit Score Important? Your company’s overall financial health is of key importance to any lenders, creditors, and trade partners with whom you wish to do business. Those partners need to be able to trust in your ability...

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Congress Passes Last-Minute Tax Changes

Congress, at almost the last minute, has passed a large number of tax changes, including retirement plan issues that will become effective in 2020, as well as extensions through 2020 of a number of tax provisions that had expired or were about to end. The list of changes is quite large, so we have only included those that are most likely to affect individual tax returns. Here is a run-down on some of the new...

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The Rise and Fall of Family Business

This article highlights the work of Professor John Davis, who has been studying family enterprises and how they work since the 1970s. For example, he mentions how family businesses have natural strengths such as passion and persistence. However, he also discusses how fear of failure and change can be the downfall of these same businesses. To view this article, click HERE to access the original content.

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Reinventing Yourself: Tips for Making a Successful Career Change

So, you have decided to try out a new career. We are not going to sugar-coat it: making a career change is hard. Hard, but not impossible. In order to successfully make your career switch, you need to be deliberate and intentional. It can be hard getting started, so we put together some helpful tips. Read on to learn more. Do a Thorough Self-Assessment The first step is to take a good, hard look at yourself. Evaluate your...

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HeimLantz Senior Accountant Earns CVA Designation

HeimLantz is pleased to announce that Andrew Hippler, CPA, CFF recently earned a new designation: Certified Valuation Analyst (CVA).  “Congratulations are definitely in order for Andrew,” said Carter Heim, CEO of HeimLantz. “This designation will allow him to elevate his practice and better serve his clients. It is a big boost both for his career and the firm.” Andrew joined the HeimLantz team in 2014, and currently serves as a senior accountant. Andrew’s knowledge and expertise has...

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HeimLantz Hosts Seminar Led by Gravitas Impact Coaches

On January 27, the local public accounting and business advisory firm, HeimLantz CPAs & Advisors, hosted an educational event for business leadership teams.  Your GPS to Success: Planning for 2020 was presented by HeimLantz team members Zack Greene and Carter Heim, both of whom are Certified Gravitas Impact Coaches.  Zack and Carter led attendees through developing 2020 action plans based on the 7 Attributes of Agile Growth Checklist. The class included key strategies for: Developing the...

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The Evolving Construction Industry in 2020

This article acknowledges how the construction industry does not change much but also discusses how 2020 is going to be a very important year for the industry. For example, modular construction is going to see continued growth, diversity and equality are going to be vital, and automation will deliver efficiency throughout the industry. No matter what you think is most important, all of these trends are going to change the way construction is done in...

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Accounting Mistakes that Cost Small Businesses Significant Growth

Although intended for small business owners, this article discusses accounting mistakes that can hinder growth in your business no matter the size. First and foremost, failing to hire the right CPA can immediately put a cap on the amount your business can grow. Additionally, topics such as mixing personal and business finances and ineffective billing management can also lead to slowed and even no growth inside of your company. To view this article, click HERE to...

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Keeping Construction Costs Down

Keeping Construction Costs Down This article asks different experts about how they keep their projects within the budget. It is no secret that construction costs are skyrocketing, but with some of these best practices, you can ensure that you put a lid on your cost. From treating your contractors well to being involved during the initial design and planning stages, incorporating some of these ideas can make a difference in your business. To view this article, click...

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Helpful Tips for Family Business

This article discusses 30 family business truths that may be hard to swallow but can change the way your business operates on a day to day basis. For example, a high trust culture can be imperative when dealing with sticky situations in the workplace. In addition, focusing on what different members of the family have in common can build a positive work environment and create more efficiency. To view this article, click HERE to access the...

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High Impact Construction Across the Country

This article discusses how construction is viewed as the engine that powers the US economy and how it will influence us here in the States. Some of the latest updates include the Charlotte international airport, the Gerald Desmond Bridge in Long Beach, California, and Honolulu railways. No matter where these updates occur, the technology used will impact the industry across the board. To view this article, click HERE to access the original content. ...

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Nurturing Leads in Small Business

This article offers seven different tips that small business owners should be aware of as we enter the new year. From using data to shape your strategies to playing around with different content, these insights could be the difference between you and your competition. Little things can go a long way, and this small business is no exception. To view this article, click HERE to access the original content.

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2020 Construction Conferences

This article outlines some of the best conferences that you could attend in 2020 in order to learn about new advancements in the construction industry. In addition, tech and best practices will also be discussed at almost all of these conferences. Be sure to attend some of these in order to attain a competitive edge amongst competitors. To view this article, click HERE to access the original content.

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Deciding the Future of Your Family Business

This article discusses how family business owners have to decide whether to sell their business or hand it down when they want to retire. Both sides have their advantages such as retirement funding and ensuring family well-being for a specific amount of time. However, there is no doubt this is a hard decision for many folks to make. To view this article, click HERE to access the original content.

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Finding a Mentor

AUTHORED BY: ZACHARY GREENE In almost all industries, there has been lots of chatter around the dreaded “Talent Gap” due in part to the Baby Boomers exiting the workforce and leaving room for the next generations to step up and lead.  For the vast majority of professionals, a good mentor can not only offer a big boost to career success but it can also help in nurturing the next generation of leaders. Today I want to...

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Tips for Landing a Government Construction Contract

This article discusses how contractors of any size could land a government contract in the coming year. From knowing where to look, following the rules, and starting small, these best practices could give you an advantage when trying to land a contract. The government is one large industry, and doing business with them could be very beneficial. To view this article, click HERE to access the original content.

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Protecting Your Business Against Fraud

This article discusses some of the top things that you can do as a business owner in order to protect your business against fraud. From learning basic definitions to what a forensic accountant could do for you, different methods are outlined in this article. Be sure to better educate yourself in order to put your business in the best position possible in the new year! To view this article, click HERE to access the original content. ...

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Jeanie Bidnick Retires from HeimLantz

After 12 years working devotedly for HeimLantz, Jeanie Bidnick has retired. Jeanie worked for HeimLantz since 2007. Thank you for all the years you spent with our firm. We wish you all the best in your retirement!

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HeimLantz Hosts Holiday Open House and Charity Drive

On December 12, local public accounting and business advisory firm, HeimLantz, hosted its annual Holiday Open House and charity drive. More than 80 guests attended the charity-focused event, which HeimLantz put on in conjunction with local organization, Sarah’s House. Attendees enjoyed delicious food, fun raffle prizes, and a great night, all around. HeimLantz’s charity drive was focused on collecting: bed sheets, blankets, toiletries, to support families experiencing homelessness in Anne Arundel County. The firm collected over...

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The IRS Is Hot on the Trail of Unreported Virtual Currency Transactions

Back in 2018, Coinbase, a company handling virtual currency (also referred to as cryptocurrency) transactions, released the data of 14,000 of its users to the IRS after the information was subpoenaed, and virtual currency traders held their breath about what the IRS would do with the information related to those 14,000 users. Although it took some time, after analyzing the Coinbase data, the IRS recently issued letters to more than 10,000 taxpayers whom they suspect have...

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Holiday Gifting with a Tax Twist

Some holiday gifts you provide to members of your family, employees, and others may also yield tax benefits. Here are some examples: Employee Gifts – It is common practice this time of year for employers to give employees gifts. Although gifts are generally excluded from the recipient's gross income, an employee cannot exclude gifts from his or her employer as a gift. However, if the gift is infrequently offered and has a fair market value so low...

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Tax Changes For 2019

As the end of the year approaches, now is a good time to review the various changes that impact 2019 tax returns. Some of the changes are likely to apply to your tax situation. In addition, be aware that various tax-related bills currently in Congress may or may not pass this year. If any of them do pass, we will quickly get the details to you. Medical Threshold – Medical expenses are deductible as itemized deductions...

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Keys to Unlocking Success for Your Family Business

This article discusses how hard it is to ensure that your family business survives to the next generation. With the help of these best practices like setting boundaries, dividing roles and responsibilities, and treating family members fairly, your business could be on its way to a healthy future. To view this article, click HERE to access the original content.

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Construction Industry Looks Ahead to 2020

This article discusses how the construction industry has shown growth heading into the new year, but there are still some concerns that face the industry. For example, the rising material cost and overall labor shortage are sure to have an impact in 2020. In addition, technology trends on the rise will potentially reshape the industry as a whole. To view this article, click HERE to access the original content.

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Best Practices in Evaluating a Business

This article discusses how utilizing some best practices can go a long way when evaluating a business. Examining stock prices, assets, cash flow, and the surplus in debt, should be considered each and every time a business is valued. In addition, bringing in a professional can make it easier on you and ensure that the process is done correctly. To view this article, click HERE to access the original content.

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Best Practices for Estimating and Managing Construction Projects

This article discusses some of the best practices in order to see that your project gets completed on time. Although there are no “secret gems” these tips can help you build confidence and help you track your progress along the way. From paying attention to specifications to setting benchmarks, these tips can propel your business to the next level! To view this article, click HERE to access the original content.

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Small Business Technology Trends to Watch For in 2020

This article discusses how technology is changing the way small businesses operate on a day to day basis. From working from home to social media marketing, these tech advancements are vital to staying up to date as your business grows. To view this article, click HERE to access the original content.

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HeimLantz Hosts Alexandria Office Open House

On Thursday, November 21, HeimLantz hosted its first open house at our Alexandria office. Guests and team members had the opportunity to network, tour the office, and enjoy drinks and refreshments over the course of the evening.

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HeimLantz Collects Coats for Children’s Charity

For the third year in a row, HeimLantz teamed up with The Child and Family Network Centers (CFNC) to participate in a winter coat drive for a local Alexandria, Virginia classroom. “Each year, our staff impresses us with their generosity,” said Laura Macauley, COO of HeimLantz. “When we are able to team up with CFNC, we don't take it for granted. In the spirit of Making Lives Better, being able to have a positive impact on...

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Benefits of Having an Accountant

This article discusses the advantages of bookkeeping and doing it the right way for your business and your personal life. There are ways to do it without a CPA, but having an accountant on your side can prove to be a difference-maker. To view this article, click HERE to access the original content.

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Digital Marketing Trends to Watch

This article discusses how marketing has changed over the years and what you can expect/need to know heading into the new year. Whether it is the use of A/B split testing or integrating AI to do simple, repetitive tasks, marketing is changing the way businesses are operated. To view this article, click HERE to access the original content.

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HeimLantz Hosts Annual Open House and Charity Drive

Our HeimLantz team would like to cordially invite you and your guests to join us for our annual holiday event. Enjoy an evening of food, drinks and fun as we celebrate the season with friends and family. During our event, our firm will be collecting books and toys for area children in need. HeimLantz takes pride in supporting our community and Making Lives Better throughout the year. For this holiday season, during the months of November and...

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Growing Your Business Without Breaking the Bank

This article outlines the best practices that your business can take in order to increase growth. The best part is that none of them require more money! Whether it is billing faster or streamlining your marketing message, these tips can really propel your business as we approach the new year. To view this article, click HERE to access the original content.

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HeimLantz Partner Earns Executive Coaching Certification from Gravitas Impact

HeimLantz CPAs & Advisors is proud to announce that Zachary Greene, CPA has successfully achieved Four Decisions® executive coaching certification. Zack completed a rigorous program that included leadership and service obligations. He joins over 200 other coaches worldwide who have earned the Four Decisions® certification status from Gravitas Impact, a premier international executive education and coaching association. “I am thrilled to have Zack join me as part of the worldwide network of Four Decisions® certified coaches,” said...

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The Technology of the Future

This article discusses how the same core of technologies from years past will still be discussed, but in 2020, advancements are expected and welcome. From 5G networks to Wifi 6, these advancements will allow collaboration to be faster and more efficient than ever. To view this article, click HERE to access the original content.

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Construction Trends of 2019 and Beyond

This article discusses the latest trends that are changing the construction industry in 2019 and beyond. From turning “green” to advancements in modular construction, these trends are important to stay on top of in order to stay competitive in this changing industry. To view this article, click HERE to access the original content.

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Tips for Sustainable Growth

This article discusses the instant gratification that we seek when it comes to the business industry. We want to buy low and sell high as soon as we can, but that may not always be the best move. From establishing autonomous operations to leaving your own unique footprint, these tips can help you sustain growth as we head into the new year. To view this article, click HERE to access the original content. ...

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10 Questions to Ask Your Manager as You Launch Your Career

As a fledgling professional in the professional services sector, there’s a lot that you don’t know. Luckily, you are surrounded by experienced professionals who are invested in supporting you in your career growth. Perhaps you are hoping to establish mentoring relationships with one or more higher-up in your firm, but you don’t know how to get started? Read on for some helpful advice. The best method for developing a strong, individual relationship with your manager, boss,...

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How To Get Into Tech

This article discusses how the technology industry continues to grow and change, and what that actually entails for people looking to be successful within the industry. From tips such as finding the right role to learning at least one kind of code, these tips can be crucial for people trying to carve out a niche in the tech world. To view this article, click HERE to access the original content.

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5 Construction Trends for the Future

This article discusses the latest trends in the construction industry and how it will affect your business. From robots taking over the industry, to virtual reality, to wearable technology, these trends are worth keeping a close eye on as we enter yet another year. Check out this article to read more! To view this article, click HERE to access the original content.

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Budgeting Tips for Your Small Business

This article discusses how the economy may be booming as we head into 2020, but that does not mean there will not be uncertainty along the way. It also offers five budgeting tips from emergency funds to reducing fixed cost commitments, and these tips could prove useful as your business continues to grow and change. To view this article, click HERE to access the original content.

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HeimLantz Ranks #3 on Best Firms for Women List

HeimLantz is very proud to announce that we have recently been named #3 on Accounting Today's Best Firms for Women list. To find out more about the designation, please click here. To learn more about why our firm received this designation, you can click here to read more about our strategies as a Best Firm for Women.

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Mental Health in the Workplace

This article discusses the importance of addressing mental health in the workplace. According to this article, 1 out  of 5 people suffer from some sort of mental health condition. Because this number is so high, it is worth looking into the health of your employees as better mental health can lead to an improvement in other areas. To view this article, click HERE to access the original content.

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Technology Trends To Be Ready For

This article outlines seven different trends to be aware of as our ever-changing world approaches 2020. From self-driving cars to personalized and predictive medicine, these trends are worth taking note of and educating yourself on as we enter yet another new year. To view this article, click HERE to access the original content.

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Automation Is Necessary in Construction

This article discusses the huge role construction still has in our ever-changing world. However, problems like skilled labor shortage are posing threats in the near future. The importance of change and automation are also becoming irrefutable in the industry. To view this article, click HERE to access the original content.

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Strategies and Tips for Your Business

This article discusses the major trends occurring in the general business world as we leave 2019 in the past and look to the future. It is important to be aware of these trends for the future of your business and know how to manage/take advantage of them. To view this article, click HERE to access the original content.

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