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.

MMQ receives Mighty Oak Award

McGrail Merkel Quinn & Associates, P.C. was recently recognized by Outreach Center For Community Resources as a 2019 Mighty Oak Award winner. The award commended MMQ for their continued commitment, dedication and service to the community. MMQ Partner, Mary Ann Novak, CPA and Director, Stephanie Mihal, CPA, accepted the award during the October ceremony held […]

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Could you unearth hidden profits in your company?

  Can your business become more profitable without venturing out of its comfort zone? Of course! However, adding new products or services may not be the best way for your business — or any company — to boost profits. Bottom-line potential may lie undiscovered in your existing operations. How can you find these “hidden” profits? […]

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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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