Financial Market Update + 1.21.2020
By all accounts, 2019 was an excellent year for investors. Unless you hid your cash in your mattress, you likely earned a positive return on investment. Even if you hid your cash, you still didn’t lose money…
5 Tax Tips for Manufacturers
The manufacturing industry creates millions of jobs for the citizens and pays billions of dollars in taxes to the government. In return, the IRS rewards manufacturers with numerous tax benefits…
Interviewing 101
Interviews are a necessary part of the job application process, but they can often feel like a lot of pressure. Even many experienced interviewees still struggle with this portion. The interview is often the first time you’ll meet…
Lutz Gives Back + 12 Days of Lutzmas 2019
The “12 Days of Lutzmas” is a unique tradition that is designed to provide our employees with 12 different opportunities to give back during the holiday season…
January Retirement Plan Newsletter 2020
This month’s newsletter contains insights on financial wellness and productivity, improving your retirement plan, keeping beneficiary information updated, and more…
The Building Blocks for a Start-Up Business
There are so many exciting things to do when starting a business – picking a name, designing a logo, creating a website, etc. Who wants to think about taxes or a business structure?..
What is a Financial Audit? Does Your Company Need One?
The word “audit” is scary. Many people associate it with the IRS’ close inspection of their tax returns. But should your company consider a different kind of audit?..
Top 5 Cybersecurity Trends for 2020
The cybersecurity landscape is changing every day. With hackers devising new ways to target businesses, cybersecurity professionals are constantly finding new strategies to protect your enterprises…
Sales Tax and Reporting Requirement Updates
Until 2018, the laws on sales tax stipulated that it was only applicable to companies with a physical presence inside the particular state. Simply put, companies were only required to collect taxes…
Financial Fitness for the New Year
It’s no surprise the most popular New Year’s resolution is to exercise more. After all, the holidays are a time when maintaining a fitness routine is about as easy as navigating the mall parking lot…
Finding the True Value of Your Business
In a recent survey of business owners, 56% of those surveyed thought they knew what their business was worth, yet only 18% had a valuation analysis prepared…
QuickBooks Isn’t One-Size-Fits-All: Making It Yours
QuickBooks was designed to appeal to millions of small businesses – different as they are. To make that possible, the software was also designed to be as customizable as possible, while still following…
It’s Time to Review Your Personal Umbrella Policy
Don’t just think, “that will never happen to me.” That’s how one of my new clients recently responded when I asked the amount of her personal umbrella coverage. She sighed and then proceeded to tell me…
Lutz Named a 2020 Top Recommended Tax and Accounting Firm by Forbes
Lutz, a Nebraska-based business solutions firm, has been named a 2020 Top Recommended Tax and Accounting Firm in America by Forbes. The list identifies 227 firms across the U.S. who are most recommended…
Lutz adds Coleman and Underberg
Lutz, a Nebraska-based business solutions firm, recently added Emily Coleman and Maddison Underberg to its Lincoln and Omaha offices…
How To: Following Up After the Job Application or Interview
Following up after submitting a job application or interview is an essential step in the job search process, if you are serious about landing that dream job you’ve been searching for…
A Beginner’s Guide to Purchasing a Workstation
In a world where we have technology in the palm of our hands, we can do most things without getting up. Even with this convenience, sometimes things are better or easier to do on a computer…
December Retirement Plan Newsletter 2019
This month’s newsletter includes insights on matching retirement contributions, automatic enrollment, fiduciary responsibilities and more…
Quarter Three Middle Market M&A Report 2019
U.S. deal volume was strong during the third quarter 2019, with volume rising 1.6% compared to the second quarter 2019. Overall, M&A volume is up year-to-date from both 2018 and 2017…
2019 Year-End Tax Review for the Ag Industry
Curtis Thompson, Lutz Tax Director, was recently featured in the Nebraska Cattleman Magazine, December 2019, Volume 75, Issue 10 on page 42, for an article about 2019 year-end tax reviews relating to the agriculture industry…
Direct vs. Indirect Costs in the Construction Industry
A new project manager at your construction company is consistently seeing margins deteriorate at the end of their construction projects. The key question when confronting this situation is to determine if project…
How Does the Business Sale Process Work?
The sale of a business is usually a long journey. Most business owners have never bought or sold a business and have no reference or understanding of what the sale process entails. For reference, The Exit Planning Institute…
What’s New With Wayfair? + Sales and Use Tax Update
With 7,500 different tax jurisdictions in the United States alone, it’s easy to understand why our sales & use tax laws are considered among the most complicated in the world. In this presentation…
Decoding Tech Talk: 10 Technology Terms You Should Know
Even if you don’t work in an IT department, you interact with technology daily. You don’t need to understand all the nuances of the various concepts and applications, but, at the very least…
4 Ways You Save Money When Working With an Accountant
Profitability is one of your primary business objectives. It not only gives your company a lifeline but also helps it to multiply. You might be doing all you can to cut down on your expenses, including maintaining…
New IRS Indexed Limits for 2020
The Internal Revenue Service today announced that employees in 401(k) plans will be able to contribute up to $19,500 next year. The IRS announced this and other changes in Notice 2019-59 (PDF)…
November Retirement Plan Newsletter 2019
This month’s retirement plan newsletter contains insights on IRS tips for plan sponsors, reasons to outsource fiduciary services, financial wellness programs, and more…
Lutz adds 14 Staff Accountants
Lutz, a Nebraska-based business solutions firm, recently added 14 staff accountants to its Omaha and Lincoln offices…
4 Reasons Why You Didn’t Get the Job
Finding a job is a tough process. It can be frustrating to apply for jobs and get rejected, or worse, to never hear anything back at all. There are many reasons why you may not have landed a job…
Spotting IT Risks Before They Become a Problem
With technology being as vital as it is to business, staying ahead of your IT troubles is an essential step to keeping your doors open. Being proactive with your IT goes a long way to preventing breaches…
2019 OPPS + ASC Proposed Federal Registers
These highlights are by no means a comprehensive listing of all provisions within the OPPS Proposed Rule, but provide a listing of significant items applicable to multiple facilities…
Rural Health Funding Opportunities
The Health Resources and Services Administration (HRSA) and United States Department of Agriculture (USDA) have announced new grant opportunities available to rural hospitals. The grants listed below…
Telehealth and Telemedicine: What You Need to Know
Telehealth and telemedicine have made it so providers and patients have a new way to communicate. Telehealth is defined as the provision of healthcare remotely by means of telecommunications technology…
Virtual Currency + Cryptocurrency
The 2019 tax filing season is just around the corner and with that brings potential changes to tax compliance forms. It is anticipated that the IRS will be adding the following question to this year’s forms…
External Financial Statement Audit and Medicare Cost Report Best Practices
The few months after a facilities fiscal year end are always challenging. From closing the books, to preparing for the external audit process, to providing information for and completing the Medicare cost report…
Understanding the Tax Implications of a Business Sale
Most business sale transactions are structured as ‘asset sales.’ This is where the buyer sets up a new entity that acquires the assets of the selling business. How a business is structured can have significant…
4 Ways an Accountant Can Make Your Business Successful
Professional accounting involves more than just basic bookkeeping. It might be what your business needs to get to the next phase. However, it may also be one of the things that you keep putting off…
Are We Headed for a Recession?
Each morning I craft a Market Update email that I share with our advisors. This email provides commentary on what is happening in the markets and the economy. It includes data related to asset class…
Lutz adds Hesselgesser, Hinrichs and Masek to Central Nebraska Offices
Lutz, a Nebraska-based business solutions firm, welcomes Kelli Hesselgesser to its Grand Island office, and Brooke Hinrichs and Leslie Masek to its Hastings office…
Lutz adds Howes, McLane, Schriner, and Shafer
Lutz, a Nebraska-based business solutions firm, welcomes Jessica Howes, Andy McLane, Dakota Schriner, and Jeffrey Shafer…
October Retirement Plan Newsletter 2019
This month’s newsletter contains insights on fiduciary services, auto-enrollment into retirement plans, ways to increase employee retirement contribution participation, and more…
Connecting Talent to the Right Opportunity
The labor market is fragmented so much that most of us tend to settle for what comes our way. Often, when talent meets opportunity, it is bliss for both the job seeker and the employer. McKinsey Report shows that…
Cybersecurity Awareness Month + 8 Tips to Keep You Protected
Cybersecurity is an ever-prominent, continuously evolving topic in the business world today. With new technological advancements daily, it can be challenging to stay on top of the latest “trends” in cybersecurity…
Family Philanthropy + Creating a Shared Legacy
There’s no denying it: you feel good when you do good. The brain stimulation that occurs from being charitable is credited for a variety of benefits, including reducing stress, feeling happier…
How Automating Payroll Will Change Your Life
You didn’t start a business to learn about compliance with federal and state employee compensation rules. Yet here you are, wearing out your calculator twice a month as you try to stay current with tax tables…
Quarter Two Middle Market M&A Report 2019
Despite growing concerns over a potential economic slowdown, middle-market companies fared generally well in the second quarter. During the quarter there were 3,095 announced M&A transactions…
The Lutz M&A Client Experience + Exit Planning Success Story
The following is a story of Bob Henrichs and his experience working with Lutz M&A over a seven-year time frame. Bob recently sold his business with the help of Lutz M&A and his story is a good example of how…
Am I Ready to Retire? Finding Your Sweet Spot
If you could trade places with Warren Buffett, would you do it? While you would immediately be worth billions of dollars, you would also be 88 years-old. Perhaps you would consider trading place…
Running a Smarter Business + Simple Steps to Start Using Analytics
LUTZ BUSINESS INSIGHTS running a smarter business + simple steps to start using analytics ryan wade, software solutions manager Small business managers wear many hats throughout the day: sales, operations, service, and support. Often, the days feel like a...
Lutz Tech adds Hinrichs and Sheridan in Central, NE
Lutz, a Nebraska-based business solutions firm, recently added Tyler Hinrichs and Brenden Sheridan to its Tech division in its Central Nebraska offices…
5 Ways Technology is Changing Your Accounting
Technology has made accounting more approachable. Or at least more accessible. Software allows time to be spent figuring out how to accomplish business goals, not on calculating if you have the finances to do it…
Lutz M&A Advises Midwest Scaffold Service on its Sale to Sunbelt Rentals
Lutz M&A announced that it served as exclusive financial advisor to Midwest Scaffold Service (“MWSS” or the “Company”), in connection with its acquisition by Sunbelt Rentals, a wholly owned subsidiary of Ashtead Group (LSE:AHT)…
September Retirement Plan Newsletter 2019
This month’s newsletter contains insights on index funds, student loan contribution programs, borrowing against your retirement plan, and more…
Crop Insurance Income and Deferral Possibilities
Mother Nature can be fickle – some years your yield is plentiful, whereas other years crops can be damaged due to significant drought, insect infestations, floods, fire, etc. Thankfully, there are alternatives…
What is Form 990?
The Form 990 series represents the annual informational tax form group that is required to be filed with the IRS by tax-exempt organizations, including charitable and educational organizations, trade associations…
How to Answer These 4 Frequently Asked Interview Questions
Whether you are fresh out of college or a seasoned professional, interviews can be nerve-wracking. You may be nervous that an interviewer might throw you a curve ball question and you won’t know how to answer it…
Why the Planning Phase of a Financial Statement Audit is Important
The word audit is often dreaded for many companies; however, if properly prepared, a financial statement audit can provide many benefits to a Company…
Family Office Millennial Educational Series: Financial Literacy Basics
This is the first session of our Family Office Millennial Educational Series – Financial Literacy Basics: The Beginner’s Guide. Nick Hall and Josh Jenkins of Lutz Financial cover savings plans…
How Microsoft Office 365 Can Optimize Business Processes
When owning a business, there are many things to manage in a small window of time. From figuring out your finances to managing your employees, juggling everything can be a difficult task to accomplish..
Lutz Named a “Top 100 Firm” and “Best of the Best” by INSIDE Public Accounting
INSIDE Public Accounting (IPA) recently announced their annual financial performance analysis and ranking of the nation’s largest public accounting firms. This year, Lutz made it’s second appearance…
Lutz Promotes Pugh to Shareholder
Lutz, a Nebraska-based business solutions firm, has promoted Taylor Pugh, CPA, to Audit Shareholder in Lutz’s Omaha office…
Lutz adds Melissa Adams and Connie Harrison
Lutz, a Nebraska-based business solutions firm, recently added Melissa Adams and Connie Harrison to its Omaha office…
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…
Is Value Investing Dead?
Value investing has been around for nearly a century, developing a devout group of followers over time. Some of the world’s most prominent investors employ a variation of the strategy, including Omaha’s…
Lutz M&A adds Mark Otte
Lutz, a Nebraska-based business solutions firm, welcomes Mark Otte to its M&A division in the Omaha office…
Smart User Management Key to Data Security
Accounting data is some of the most sensitive information your company manages. Make sure you’re protecting it…
Englund a Recipient of Hastings Young Professional 30 Under 30ish Award
Lutz, a Nebraska-based business solutions firm, is proud to announce that Ashley Englund has been named a Hastings Young Professional’s 30 Under 30ish award winner…
August Retirement Plan Newsletter 2019
This month’s newsletter includes insights on integrating your health savings into your retirement plan, Anthem settlements, information on HSA’s, and more…
Resume Do’s and Don’ts
The ease of applying to jobs online has created an influx in resume submissions. Consequently, employers and HR departments spend only a small amount of time reviewing each resume and usually…
Lutz Announces Associate + Coordinator Promotions
Lutz, a Nebraska-based business solutions firm, has promoted Courtney Russell and Cara Williams in Lutz’s Omaha office…
3 Things a Business Plan Can Do for You
If the thought of creating a business plan is intimidating, think about the many benefits of having one…
Should Your Company be Using a VPN?
When businesses want to keep their data safe and secure no matter where it’s located, they often use a virtual private network or VPN. Because of the rise in cyber attacks, Bring-Your-Own-Device (BYOD) programs…
Lutz Promotes 15 to Senior Positions
Lutz, a Nebraska-based business solutions firm, has promoted 15 professionals to Senior positions…
CAH Ambulance Changes
The current policy for ambulance services furnished by a CAH or an entity that is owned and operated by a CAH is 101 percent of the reasonable costs of the CAH or the entity in furnishing those services, but only if…
Health Resources & Services Administration: The Impact on Rural Health
The Health Resources and Services Administration (HRSA), an agency of the U.S. Department of Health and Human Services, is the primary federal agency for improving health care for people who are…
Activation of OPPS System Edits Delayed
Special Edition (SE) 19007 was revised to provide an update on Round 3 testing of system edits for Outpatient Prospective Payment System (OPPS) providers with multiple service locations and to announce a delay…
Provider Enrollment Updates
The Medicare provider and supplier enrollment process is a continuous one which requires on-going attention, lest you be impacted by an interruption in reimbursement…
ICD-10 Updates for 2020
CMS published the changes to the ICD-10-CM codes effective for services on or after October 1, 2019. There are 273 new codes, 21 deleted codes and 30…
Travel Expenses Out of Control? Add an App
If your travel expense report needs are too great for QuickBooks, you can add an integrated app to accommodate them…
Lutz adds Cory Hanson and Regan Szatko
Lutz, a Nebraska-based business solutions firm, welcomes Cory Hanson and Regan Szatko to Lutz’s Omaha office. Cory joins the firm as an Operations Lead, and Regan joins as an Administrative Assistant…
5 Accounting Strategies for the Self Employed
Being a business owner is great, but you’ll quickly realize you hold responsibilities in areas that you may not have much experience. Leveraging the expertise of others can allow you to spend your time on…
Lutz Promotes Six to Manager
Lutz, a Nebraska-based business solutions firm, has promoted six professionals to Manager positions. Congratulations to Merrick, Mark, Brandi, Katie, Tracy and Kayla…
July Retirement Plan Newsletter 2019
This month’s newsletter contains insights on how to stay on top of your responsibilities and liabilities this summer and more…
Lutz Announces Director Promotions
Lutz, a Nebraska-based business solutions firm, has promoted seven to Director roles. Congratulations to Joe, Ashley, Sharissa, Kyle, John, Ryan and Curtis…
Everything You Need to Know About the New Farm Bill
Those in farming and various other businesses tied to agriculture may experience some changes due to the 2018 farm bill, depending on their specific operation. The formal name for this bill is the…
M&A Transactions + Seller Equity Roll
The popularity of equity rollovers in M&A transactions has increased in the past decade. Rolling equity is when certain equity holders in the target company are required or elect to roll a portion of their ownership…
Being Mindful of the Social Security Tax Torpedo & Medicare Surcharges
Social Security and Medicare are programs often at the forefront of retirees’ minds. The claiming strategies and rules can be very confusing for the average person. To complicate matters, timing decisions on…
Tax Cuts & Jobs Act + Ag Industry
Jim Honz, Lutz Tax Shareholder, was recently featured on the Nebraska Grain & Feed Association’s (NEGFA) website for an article about the Tax Cuts and Jobs Act (TCJA) relating to the agriculture industry…
Lutz adds Lake and Risinger as Staff Accountants
Lutz, a Nebraska-based business solutions firm, welcomes Alec Lake and Katie Risinger to the team. Alec is working in the Grand Island office, while Katie assists both the Hastings and Grand Island teams remotely…
Provider-Based Departments Update 2019
The Centers for Medicare and Medicaid (CMS) Are Requiring Hospital Provider-Based Departments (PBDs) to be Properly Enrolled in Provider Enrollment, Chain, and Ownership System (PECOS)…
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