The business of business is money. Yes, every business has the potential to do good, but the bottom line matters. That's where the importance of accounting factors in, even if it's rarely considered the most fascinating aspect of business.
Dave Steiner, of EKS&H, an accounting and consulting firm brings a great perspective to income statements and balance sheets. As a partner at EKS&H, which is ranked as one of the top 50 U.S. accounting firms by Accounting Today's Top 100 Firms, and recognized as a Great Place to Work by The Denver Business Journal, Great Place to Work Institute and Entrepreneur and Fortune magazines, Dave is able to advise businesses about more than money.
On this week's show, Gayle Dendinger and Wendy Matthews, CAP Logistics' CPA talk with Dave about trends in business and accounting, and how EKS&H handles some of the changes in tax law, in terms of how new health laws impact businesses, and the recent increase in auditing at the state and local level.
Dave tells us, "There has been an absolute increase. As the states are looking for money, they are aggressively going after tax payers. We used to have two audits a year, now 200."
Dave explains how many businesses are losing potential tax savings because they are not aggressive in planning ahead, because they are looking backward at past spending, instead of working with their accountants to plan for tax incentives in future spending.
Listen to the full hour for insight on tax incentives that are due to retire at the end of this year, and how businesses can plan with their accountants to take advantage of significant savings.
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