Hoyman Dobson
E-ssentials Bulletin
Our newest profitability and wealth accumulation tips for our clients and contacts. Click on items of interest for more details on each topic.
Building Construction
 
 
What remodeling projects give the most bang for the buck? Thinking of remodeling a kitchen, or adding on another bedroom to your home or one of your rental properties? If you wonder how much the value will increase compared to the renovation cost, Remodeling magazine has the national averages in its most recent "Cost vs. Value" report. Depending on the city and a variety of other factors, it is possible in some cases to recoup 100 percent of the cost.
 
Family Business
 
 
You work hard to build your family business, looking forward to the day when your children will reap the rewards. But when a substantial portion of the ownership or assets of a family business is transferred to one or more offspring, it can cause a phenomenon known as Inheritor Syndrome.
 
General Business
 
 
Enforcement of the Red Flags Rule will be further delayed until Jan. 1, 2011, according to the Federal Trade Commission's announcement in late May. Of course, Congress could decide to legislate another deadline, so businesses covered by the rule should be aware that additional changes may lie ahead.
 
Manufacturing
 
 
You can make a difference in your business by working on your business processes. Ray Kroc, the founder of McDonald's, recognized that creating an operation with consistent, repeatable processes would provide a model that could be easily replicated with greater profitability and control. Mapping is the key.
 
Nonprofit Organizations
 
 
A street canvassing program can do wonders for your organization if it is implemented properly. The environmental organization Greenpeace is a shining example. Since reinstating its street canvassing program in 2006, Greenpeace has doubled its membership to more than 300,000 in the United States, growing even during the recession.
 
Physician Services
 
 
Deciding on a candidate for a professional position with your medical practice is only one piece of the puzzle. Next comes the negotiation phase. Knowing when to negotiate terms and when not to can help you find a candidate who fits your practice.
 
Wealth Advice and Financial Planning
 
 
The Federal Reserve Board recently enacted rulings to protect consumers from creative practices of credit card companies. The rulings also provide more complete information to consumers on their debt situation so that they can make better informed decisions.
 
Valuations
 
 
Keeping your head above water as an attorney these days requires more than just legal skills. You've got to sell yourself and offer better service. During this turbulent time, it may benefit your firm to install a R.E.A.L. management action plan.
 
Washington Tax Update
 
 
 
 
 
 
Latest Business Headlines
 
Reuters
 
Wall Street Journal
 
USA Today
 
MSN Money
 
FOXBusiness
 

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Debbie Goode Wins Florida Institute of Certified Public Accountants' Women to Watch Award
 

On June 11, 2010, Debbie Goode, CPA, Hoyman Dobson Audit Director and Leader of the Government Contracting Advisory Team (GCAT) received the Florida Institute of Certified Public Accountants' (FICPA) Women to Watch Award, Experienced Leaders category.

"It was an honor to be in the company of so many accomplished women CPAs. Winning the award came as a total surprise and it felt great," shares Debbie Goode.

The Women to Watch Awards were created by the American Institute of Certified Public Accountants in 2005. However, this is this first year FICPA joined the Awards program. The nominees in the Experienced Leaders category were evaluated on different criteria, such as authorship of articles, major or unique contributions to the profession, community service, mentoring other professionals, and improvement to the workplace. Three women CPAs were recognized in this category. There were also three award recipients in the Emerging Leaders category as well.

"My strong desire to help our clients, our employees, and our community is the driving force behind all my accomplishments over the years," continues Mrs. Goode.

About Hoyman Dobson: Founded in 1964 Hoyman Dobson is a member of CPAmerica, one of the world's largest associations of independent CPA and consulting firms. The firm is the creator of a groundbreaking service process called the "Goals to Reality Experience" ™. Hoyman Dobson is best known for providing expert financial services to government contractors and construction companies. The firm recently founded the Government Contracting Advisory Team (GCAT) -- a network of independent service providers who help government contractors maximize their growth potential. In addition, the firm recently implemented a brand new service program called The Trust Advantage™ focusing on Estate and Trust Administration services. Another area of expertise includes employee 401(k) plan administration services, which are provided by its affiliated firm, CPA Wealth Management Services (www.cpawms.com). For additional information about Hoyman Dobson and its services please visit www.hoyman.com or call 321-255-0088.

About the FICPA: Founded in 1905, the Florida Institute of CPAs is a Tallahassee-based, statewide, professional association representing member-CPAs throughout Florida. With a membership of more than 19,000 CPAs, the Institute's mission is to serve the diverse needs of its members; enhance their competency and professionalism; support professional standards; promote the value of our members; and advocate on behalf of the profession. For complete information about the FICPA, visit www.ficpa.org

 
Business Tips
 
Controlling Cash Flow - Remember, income can be increased infinitely, but expenses can only be reduced to zero.
 
Wealth Tips
 
Your Investments - Diversify your investments - don't put all your eggs in one basket.
 

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The technical information in E-ssentials is necessarily brief. No final conclusion on these topics should be drawn without further review and consultation. Please be advised that, based on current IRS rules and standards, the advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty assessed by the IRS.
 
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