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


Tax deductions are not the top priority for most real estate investors. But you may be able to benefit from some deductions that are often overlooked by investors.

Family Business


You have a family business. That means family should work in the business, carry on the business and take over the business someday, right? Maybe. And maybe not. The question is an age-old one - and one that doesn't seem to get easier with time. There are several issues to be considered here, and not all of them are clear-cut.

General Business


If your payroll system is falling victim to fraud, you might be able to uncover it by looking for some common symptoms. Stay on top of the details, and review your payroll for anything abnormal.

Manufacturing


You watch your inventory levels, cut expenses and minimize waste - all the right steps to improve your company's profit margins. But you may be missing out by not paying more attention to your purchasing process. How you procure items is just as important as what you procure. It is important to manage the entire cycle of products - from products you purchase and use to those you sell or provide. This is generally referred to as the supply chain. When your supply chain is working correctly, you can provide the best possible client service. When your supply chain fails, you are likely to have client service failures.

Nonprofit Organizations


Everyone talks about 401(k) plans. But mention 403(b) plans outside of a small community of education institutions and tax-exempt organizations, and you're likely to get a blank stare. Learn who may establish 403(b) plans, how they work, and how recent regulations and developments may affect them.

Physician Services


A personnel policy manual is a form of communication that can greatly benefit even the smallest practices. Formalizing your policies in written form can prevent confusion and misunderstandings.

Wealth Advice and Financial Planning


Most people accept that actions by the Federal Reserve, the central bank of the United States, affect both the cost of borrowing and the amount earned by investing in bonds, certificates of deposit and other fixed-income investments. But many do not understand why, when and how the Fed decides to act.

Valuations


Outsourcing of all types of work - from manufacturing to customer service to tax return preparation - is more and more common. Oursourcing, even if done domestically, raises ethical and practical questions for the practitioner. Interpretations issued by the American Institute of CPAs outline the practitioner's basic ethical duties when outsourcing client work.

Washington Tax Update








Latest Business Headlines

Wall Street Journal

USA Today

New York Times

FOXBusiness

Reuters

Connect with us on:

Find us on Facebook      View our profile on LinkedIn      Follow us on Twitter

 

Government Contracting: Business Worth Pursuing

 

New -- Just added to our website. If you are a government contractor or are considering to start doing business with the government, you can find a wealth of resources on our new webpage.

If you are doing business with the government, you already know the "nature of the beast."

The U.S.Government is the largest buyer in the world - it buys about $560 billion of goods and services each year, $300 billion of which is spent by state and local governments on capital projects, such as highway, bridges, public buildings -- an excellent niche for general contractors. 

You can do business with the government by either selling directly to the government or Partnering with prime contractors on government contracts

Different types of government entities have different commercial needs: 

 Local governments - mainly construction and waste management services

State governments - spend heavily on construction, consulting, medical services, and information system

Federal government - primarily defense, medical services, consulting, research and development (R&D), and information systems.

Although contracts are many times awarded to the lowest bidder, the U.S. Small Business Administration (SBA) administers various programs that favor small, disadvantaged and women-owned business. Overall, 23% of procurement money goes to small business.

To become a vendor with the government, you must first register and meet certain standards and have a D-U-N-S number through Dun & Bradstreet.

The federal procurement process is overseen by the General Services Administration (GSA) and governed by Federal Acquisitions Regulations (FARs).

Once contracts are signed, administrative officers monitor the performance of the contract. Your contracts may be audited as well.

Are government contracts worth pursuing? Yes! If you have won them in the past, you have already reaped the benefits of your hard work. If you are thinking of starting to do business with the government, don't shy away. You can do it too! The process is not as complicated as you may think.

Where can you get help?

U.S. Small Business Administration has a variety of programs to aid small companies do business with the federal government. Visit SBA's Contracting Opportunities for Small Business Owners to learn more about them.


Click here  for additional resources.

Wealth Tips

Improving Business Operations - Give your customers what they want! If you're meeting a need or desire, they'll buy - and pricing won't be their main concern.

Business Tips

Your Investments - Buy good, quality securities and hold them through your investment time horizon.


Forward this issue to a Friend

CPAmerica International

Our firm is a member of CPAmerica International
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.
 
© Copyright 2010 CPAmerica International