Lutz adds Colleen Boyd to Grand Island Office

Lutz adds Colleen Boyd to Grand Island Office

 

LUTZ BUSINESS INSIGHTS

 

Lutz adds colleen boyd to grand island office

Lutz, a Nebraska-based business solutions firm, recently added Colleen Boyd to its Grand Island Office.

Colleen joins the firm as an Accounting Assistant and brings over five years of experience in the accounting industry. She is responsible for preparing payroll tax returns and providing general administrative support to the accounting department. Boyd received her Bachelor’s degree from Wesleyan University.

 

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5 Key Purchase Agreement Considerations

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VIEW MODIFIED SUMMER HOURS HERE

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

What is a Family Office?

What is a Family Office?

 

LUTZ BUSINESS INSIGHTS

 

what is a family office?

lisa strutzel, family office services director

 

Modern family offices have been in existence since the late 19th century when John D. Rockefeller decided he needed a professional team to manage his wealth. The complexity of the financial landscape, coupled with the continuing growth of personal financial wealth, is fueling the rise in the number of family offices and the momentum is expected to continue. 

Single Family Office vs. Multi-Family Office

Family offices are professional organizations established to help a family (single family office) or families (multi-family office) manage significant wealth.

The sophisticated systems and professional capability required to run a single family office equate to high operating costs, necessitating a family to be worth at least $150 million for this exclusive option to be viable. For this reason, many high net worth families are opting to use the services of multi-family offices. The multi-family office offering is a cost-effective way to receive customized services while recognizing economies of scale from pooling resources.

Sustaining Wealth from Generation to Generation

The numbers support the adage, “Shirtsleeves to shirtsleeves in three generations”, given there is over a 70 percent failure rate to transfer wealth beyond the third generation. Sustaining wealth between generations requires more than just managing money. It takes a commitment to manage the wealth as a family enterprise.

The role of the family office is to:

  • Assist the family in determining its goals and priorities
  • Establish processes
  • Provide integrated financial solutions

An effective family office provides the “glue” which can help hold a family together through generational transitions. By supporting an organized family governance process, the family office is central in fostering family unity and engagement. As the family office knows the totality of its client’s financial situation, it can provide the integrated planning needed for sustainable wealth in concert with promoting and preserving family harmony and values.

ABOUT THE AUTHOR

402.763.2974

lstrutzel@lutz.us

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LISA STRUTZEL, CPA, CAP® + FAMILY OFFICE SERVICES DIRECTOR

Lisa Strutzel is the Family Office Services Director at Lutz with over 14 years of past experience as a family office executive. She is responsible for assisting high-net-worth clients manage their family enterprise. 

AREAS OF FOCUS
  • Family Office Services
  • Financial Reporting
  • Philanthropy and Legacy Planning
  • High-Net-Worth Families
AFFILIATIONS AND CREDENTIALS
  • Certified Public Accountant
  • Chartered Advisor in Philanthropy, CAP®
  • Family Office Exchange, Integrated Wealth Advisor Council Member
  • Purposeful Planning Institute, Member
  • Nebraska Society of CPAs, Member
EDUCATIONAL BACKGROUND
  • BBA, Iowa State University, Ames, IA
COMMUNITY SERVICE
  • The Hope Center for Kids, Board President, Past Treasurer
  • CAP Advisory Board Member

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We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

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VIEW MODIFIED SUMMER HOURS HERE

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

Does Your Company Need a Business Valuation?

Does Your Company Need a Business Valuation?

 

LUTZ BUSINESS INSIGHTS

 

does your company need a business valuation?

LAUREN DUREN, SENIOR ACCOUNTANT
RYAN MCGREGOR, LUTZ M&A MANAGER

 

If you use QuickBooks or you’re a power Excel user, you know you can create reports that provide tremendous insight into your company’s financial status. They can tell you what you own and what you owe down to the tiniest detail.

But capable as they are, these tools have limits. They can’t provide you with a number you may need for a variety of reasons: the economic value of your business. There are numerous business valuation methods professionals use to get there, and they’re all quite complex.

Why You May Need One

You may already have plans for 2019 that would require a business valuation. For example, you could be planning to sell your company, or buy another. You might be going in a new direction whose expenses will require financing. You may also simply want to know what your business is worth so you’ll have a baseline to consult when measuring future growth.

These are all common reasons for taking on this formidable project. There are many other situations where you’d need this information. For example:

  • Succession planning. If you’re preparing to retire or move on to a different venture, you’ll need to know the value of your business so you can develop a strategy for any restructuring that may be necessary.
  • Gift tax planning. Are you considering transferring a portion of your company’s value to a relative, a charity, or some other party? You’ll need to understand the tax implications.
  • Disaster recovery. You can’t, of course, plan for a natural disaster. But if you’re affected by one, you’ll want to have a basis for comparison to know how much you lost.
  • You know there are numerous ways to raise capital if you’re planning to expand, or if recent growth has made it necessary to acquire new property so you can better accommodate it. Any individual or other third party you approach will surely want a business valuation.
  • Personal rancor. Whether it’s a divorce or a relationship-ending disagreement among partners, serious interpersonal clashes can mean someone who has a stake in the business wants out. To know how much their exit will cost, you need to know the value of the company as a whole, as well as what individual elements may be worth.

An Annual Event?

Some financial professionals recommend that you do a business valuation once a year. Why? Two simple reasons. One, you never know when you might need one. And two, you can’t determine your company’s worth by simply plugging numbers into a spreadsheet. It takes time to assemble both the financials required and additional variables, like location, industry, and market forces.

 

To get a business valuation that will be considered credible by the parties involved, you need a financial firm that has done them before and can apply its expertise to your unique situation. We can help you with a valuation analysis. Contact us to set up a meeting to discuss this important topic with our experts.

 

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ABOUT THE AUTHOR

402.827.2062

 

lduren@lutz.us

 

LINKEDIN

 

LAUREN DUREN + SENIOR ACCOUNTANT

Lauren Duren is a Senior Accountant at Lutz with over three years of relevant experience. She provides outsourced accounting services to clients with a focus on tax, payroll compliance, and healthcare consulting.

AREAS OF FOCUS
  • Outsourced Accounting
  • Tax
  • Payroll Compliance
  • Healthcare Accounting Consulting
  • Nonprofit Industry
AFFILIATIONS AND CREDENTIALS
  • American Institute of Certified Public Accountants, Member
  • Nebraska Society of Certified Public Accountants, Member
  • Certified Public Accountant
EDUCATIONAL BACKGROUND
  • MBA, University of Nebraska, Omaha, NE
  • BSBA in Accounting, University of Nebraska, Omaha, NE
COMMUNITY SERVICE
  • Lutz Gives Back, Volunteer
Ryan McGregor

402.778.7946

rmcgregor@lutz.us

LINKEDIN

RYAN MCGREGOR + CONSULTING DIRECTOR

Ryan McGregor is a Consulting Director at Lutz M&A with a combined 14 years of related experience. He specializes in business consulting, valuation, and sell-side advisory services.

AREAS OF FOCUS
AFFILIATIONS AND CREDENTIALS
  • Alliance of Merger & Acquisition Advisors, Member
  • National Association of Certified Valuators and Analysts, Member
  • Certified Merger & Acquisition Advisor
  • Certified Valuation Analyst
EDUCATIONAL BACKGROUND
  • BSBA in Management, University of Nebraska, Kearney, NE
  • Master of Investment Management and Financial Analysis, Creighton University, Omaha, NE
  • Master’s in Business Administration, Creighton University, Omaha, NE
COMMUNITY SERVICE
  • Past volunteer for various local nonprofit organizations including: Juvenile Diabetes Research Foundation (JDRF), Habitat for Humanity, Red Cross and Open Door Mission

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

VIEW MODIFIED SUMMER HOURS HERE

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

Two-Factor Authentication: The New Standard in Online Security

Two-Factor Authentication: The New Standard in Online Security

 

LUTZ BUSINESS INSIGHTS

 

two-factor authentication: The new standard in online security

Steven brabec, it account manager

 

In an age in which cyber threats are more vast and detrimental than ever, finding ways to keep your network secure is a vital component to every business. Given the prevalence of massive security breaches, as well as the costs associated with the fallout after a major attack, stepping up your cybersecurity is necessary for every organization.

Of the various methods of making your system, employees, and customers more secure, two-factor authentication is quickly becoming the new standard in online security. That said, the following is a closer look at the benefits of using this method.

Strengthens Security

Two-factor authentication is becoming the standard for many businesses because it helps strengthen the security of your network overall. By simply requiring an additional form of authentication, for example sending a text to your phone with a special code to verify your login, helps to drastically reduce the probability that cyber attackers will be able to penetrate your system.

In other words, although a potential attacker may be able to uncover your password, they will still not be able to gain access to your account without the information to complete the second form of authentication. This is why two-step authentication is now being widely used by businesses of all kinds.

Reduce Theft of Data

The theft of data has officially become big business. In the wake of some of the most massive cyberattacks (for example, the Experian and Yahoo data breaches, which served to compromise the personal information of over 1 billion people), every company should be doing it’s absolute best to boost their level of cybersecurity.

Not only do data breaches cause mistrust from your customers and employees, but it can also be highly costly depending on the data that was accessed or stolen. Fortunately, two-factor authentication is an easy, inexpensive method of adding another layer of protection against your sensitive data.

Reduces Calls to Help Desk

Yet another benefit of adding two-factor authentication is that it reduces the amount of calls being made to the help desk. The secured simplicity of the two-factor process causes less password resets and can often save users from having to reset the password altogether. Overall, this means less breaches to investigate for help desk members, which is a great thing for all parties involved.

In all, two-step authentication is hardly a new method of protecting your network. What is new is its seemingly sudden and widespread implementation by businesses and organizations of all kinds.

 

The ever-present threat of a cybersecurity breach has caused the world to discover the true value of this invention. Although there are no foolproof methods for protecting your network, taking the time to implement processes such as two-factor authentication is a great way to add another protective layer of security to your network.

ABOUT THE AUTHOR

402.778.7960

sbrabec@lutz.us

LINKEDIN

STEVEN BRABEC + IT ACCOUNT MANAGER

Steven Brabec is an IT Account Manager at Lutz Tech with over eight years of information technology experience. He is responsible for working with clients to develop IT solutions that help them reach their business goals. Additionally, he will be providing account management support and IT consulting services. 

AREAS OF FOCUS
  • IT Consulting
  • Account Management
  • IT Security

 

EDUCATIONAL BACKGROUND
  • BS in Information Technology, Wayne State College, Wayne, NE
COMMUNITY SERVICE
  • Pinnacle Bank Championship, Volunteer

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

VIEW MODIFIED SUMMER HOURS HERE

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850

Lutz Named a 2019 Top 100 Firm, Regional Leader, and Fastest-Growing Firm

Lutz Named a 2019 Top 100 Firm, Regional Leader, and Fastest-Growing Firm

 

LUTZ BUSINESS INSIGHTS

 

Lutz named a 2019 top 100 firm, regional leader, and fastest-growing firm

Lutz, a Nebraska-based business solutions firm, has been named a 2019 Top 100 Firm by Accounting Today. As one of the four firms making their first debut on the Top 100 list, Lutz came in at number 97.

Managing Shareholder, Mark Duren said “Our firm has experienced exponential growth throughout the past couple of years, allowing us to add multiple office locations in Nebraska, as well as expand our team to include over 260 talented individuals. We are honored to receive the title of a Top 100 Firm by Accounting Today, and are eager to see where the future takes us.”

Lutz has also been recognized as one of Accounting Today’s 2019 Regional Leaders in the Midwest. This is the fifth consecutive year that Lutz has been awarded this title. In addition, Lutz was named one of Accounting Today’s 2019 Fastest-Growing Firms in the U.S, coming in at number eight.

The annual rankings of the largest firms in tax and accounting offer a host of benchmarking data, as well as strategies and advice from the most successful firms. For more information on Accounting Today’s 2019 Top 100 Firms and Regional Leaders, visit https://www.accountingtoday.com/collections/the-2019-top-100-firms-and-regional-leaders?feed=00000152-a2fb-d118-ab57-b3ff6e310000.

For a list of Accounting Today’s 2019 Fastest-Growing Firms, please visit https://www.accountingtoday.com/list/the-fastest-growing-firms-in-the-us-2019?feed=00000158-20c0-d6a2-adfb-70e9516c0000.

 

RECENT POSTS

5 Key Purchase Agreement Considerations

The purchase agreement is a major component of an M&A deal. It is the contract that documents all of the terms agreed upon between the buyer and the seller in a transaction. Without one, it would be…

read more

SIGN UP FOR OUR NEWSLETTERS!

We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.

Toll-Free: 866.577.0780  |  Privacy Policy

All content © Lutz & Company, PC

VIEW MODIFIED SUMMER HOURS HERE

OMAHA

13616 California Street, Suite 300

Omaha, NE 68154

P: 402.496.8800

HASTINGS

747 N Burlington Avenue, Suite 401

Hastings, NE 68901

P: 402.462.4154

LINCOLN 

601 P Street, Suite 103

Lincoln, NE 68508

P: 531.500.2000

GRAND ISLAND

3320 James Road, Suite 100

Grand Island, NE 68803

P: 308.382.7850