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


At least one-third of new construction projects in the residential market are green-related, according to a recent study by McGraw-Hill Construction. How does a construction company go green and take advantage of green trends? Here are five ways to kick-start the process.

Family Business


Children up to age 27 may now be covered tax-free under a parent's employee healthcare coverage as a result of the healthcare reform act. This expanded healthcare tax benefit applies to various workplace and retiree health plans as well as self-employed individuals who qualify for the self-employed health insurance deduction on their tax return.

General Business


The Internal Revenue Service says it is losing millions of dollars a year in taxes because people aren't following federal rules established for individual retirement accounts. In the future, the IRS will be looking more closely at IRAs on income tax returns.

Manufacturing


Many companies have taken steps in the past two years that they fear could hurt future growth prospects of their business. They may have reduced research and development, cut employment numbers and lost long-standing third-party relationships. What do finance executives across the country see as the top 10 risk spots?

Nonprofit Organizations


Payroll can be a prime target for fraud if you don't have an efficient process of internal controls. Is there a possibility that one of your employees is committing payroll fraud?

Physician Services


Busy professionals probably rely on their cell phones more than anyone else. But only 54 percent of all cell phone owners are satisfied with their service, according to a recent survey by Consumer Reports National Research Center. Two of every three cell phone users had a major complaint about service. High cost was the top complaint. Here are a few tips to help lower your bill.

Wealth Advice and Financial Planning


From regional and community banks to the largest financial institutions - they're all affected by the voluminous Dodd-Frank Wall Street Reform and Consumer Protection Act, adopted in 2010. The legislation gives the government much more authority and discretion to regulate and supervise financial institutions. Borrowers and investors will be particularly interested in some of the provisions that affect the quality of mortgage debt and aim to protect consumers during the lending process.

Valuations


Relationships among brothers and sisters become increasingly strained after a father dies and leaves 25 percent of his contracting business to each of his four adult children. A business valuation could have helped.

Washington Tax Update







Business Tips

Improving Business Operations - Enter into joint ventures or strategic alliances with your suppliers or customers to market each other's products.

Wealth Tips

Your Purchases - Keep track of all expenditures. Know where your money goes. Computer software programs can help.

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Ruip Obtains Certified Government Auditing Professional
Designation

Nicholas O. Ruip, CPA, CGAP, of Hoyman Dobson CPAs, has earned the Certified Government Auditing Professional (CGAP) designation from The Institute of Internal Auditors.

 

"Many of our audit clients are governmental entities and we are determined to ensure they receive the best possible audit services from individuals in our firm who have specialized knowledge in their unique issues," shares Debbie Goode, CPA, Hoyman Dobson's Audit Director.

 

"Nick's obtaining this certification further ensures our team has the necessary skills to assist our public sector clients maintain the public's trust," continues Mrs. Goode.
 

The CGAP is a specialty certification designed for and by public-sector internal auditing practitioners. The exam tests a candidate's knowledge of the unique features of public-sector internal auditing -- fund accounting, grants, legislative oversight, confidentiality rights, and more. The program's broad scope emphasizes the internal auditor's role in strengthening accountability to the public and improving government services.

 

About Hoyman Dobson: Founded in 1964 Hoyman Dobson is a member of CPAmerica, one of the world's largest networks of independent CPA and consulting firms. Hoyman Dobson's services include: audit, internal controls consulting, tax planning and compliance, accounting services, financial statement reviews and compilations, and more. Another area of expertise includes wealth management and 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 Institute of Internal Auditors: Established in 1941, The Institute of Internal Auditors (IIA) is an international professional association with global headquarters in Altamonte Springs, Fla., USA. The IIA is the internal audit profession's global voice, recognized authority, acknowledged leader, chief advocate, and principal educator. Members work in internal auditing, risk management, governance, internal control, information technology audit, education, and security.

 

For more information, please call 407-937-1111.

 
 
Business Tips

Improving Business Operations - Enter into joint ventures or strategic alliances with your suppliers or customers to market each other's products.

Wealth Tips

Your Purchases - Keep track of all expenditures. Know where your money goes. Computer software programs can help.

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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 information 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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