Perspective

Perspective

Perspective, it’s hard to come by these days but MMQ has you covered. By maintaining an active role in the accounting industry and in our community we’re able to provide valuable insight and the resources you need to stay informed. The tax and financial world is changing by the minute, count on us to shine a light on the issues that effect you.

Happy Labor Day

The MMQ office will be closed today to celebrate the Labor Day Holiday.  We will re-open tomorrow at 8:00 am. […]

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2019 – 06/26 – What to do if your nonprofit receives an IRS audit letter

The IRS’s staffing shortages have been well publicized. But it’s a mistake to assume that the agency has stopped scrutinizing not-for-profits. Don’t panic if you receive an audit letter. The letter will inform about whether the IRS is conducting an in-person, field audit or a correspondence audit. This second type simply requires you to send […]

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Put a number on your midyear performance with the right KPIs

We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.” But, analytically, can you put a number on how well you’re doing — or several numbers for that matter? You can if you choose and calculate the right key performance indicators (KPIs). 4 […]

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Fiduciary duties: What your board members need to know

Not-for-profit board members — whether compensated or not — have a fiduciary duty to the organization. Some states have laws governing the activities of nonprofit boards and other fiduciaries. But not all board members are aware of their responsibilities. To protect your nonprofit’s financial health and integrity, it’s important that you help them understand. Primary […]

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2019 – 06/12 – Could you unearth hidden profits in your company?

Bottom-line potential may lie undiscovered in every company’s existing operations. How can you find these “hidden” profits? By digging into every facet of your organization. To do so, create a profit plan that outlines potential profit boosters and sets objectives for realizing these improvements. Among the best ways to put together such a plan is […]

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Buy vs. lease: Business equipment edition

Life presents us with many choices: paper or plastic, chocolate or vanilla, regular or decaf. For businesses, a common conundrum is buy or lease. You’ve probably faced this decision when considering office space or a location for your company’s production facilities. But the buy vs. lease quandary also comes into play with equipment. Pride of […]

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Financial statements tell your business’s story, inside and out

Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements. In short, financial statements are detailed and carefully organized reports about the financial activities and overall position of a business. […]

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2019 – 01/02 – Economic damages: Recovering what was lost

A business can suffer economic damages arising from a variety of illegal conduct. Common examples include breach of contract, patent infringement and commercial negligence. The goal of any economic damages case is to make your company “whole” again. This involves answering one critical question: Where would you be today “but for” the defendant’s alleged wrongdoing? […]

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Finding a 401(k) that’s right for your business

By and large, today’s employees expect employers to offer a tax-advantaged retirement plan. A 401(k) is an obvious choice to consider, but you may not be aware that there are a variety of types to choose from. Let’s check out some of the most popular options: Traditional. Employees contribute on a pretax basis, with the […]

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