unsuitable | Challenge Traditional Business Cultur

Be careful – it’s lawsuit city out there and you never know when you might be the target of legal turmoil. Even a poorly worded text can get you into trouble. However, there are some precautionary measures you can take to mitigate risk. Fortunately, Don Gregory, director and chair of the construction law practice at Kegler Brown Hill + Ritter, joins unsuitable to provide some tips that will help keep you out of trouble before trouble finds you. Listen to this episode of unsuitable to learn: What rules should you follow in emails and texts to avoid legal trouble? What you can expect from a lawsuit if something does happen How has the legal practice or role of the trusted advisor changed? Learn more about this topic: Read: “Nonprofit Leaders: Protect Yourself From Personal Liability” Read: “You Built A Business. You Grew Its Value. Now You Need To Protect It.” Read: “Plan For A Crisis To Minimize The Fallout” If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

None of us are getting any younger.  Of course, nobody likes to be reminded of this fact — and when you are a business owner, thinking about what will happen to your business when you reach retirement age can be especially anxiety-inducing. Joel Guth, CEO and founder of Gryphon Financial Partners, has seen countless owners grapple with this type of situation over the years and he helps clients approach future liquidity events holistically. In this episode of unsuitable, Joel will reveal how three simple questions can uncover your ideal course of action: when do you want to sell, to whom do you want to sell, and how much do you need to live the way you want after an exit? Listen to this episode of unsuitable to learn: The key to a fulfilling life after you exit The pros and cons of different exit strategies The additional and ongoing expenses that many people don’t consider when thinking about retirement Learn more about this topic: Read: “Exit Planning Options Every Business Owner Over 50 Should Know” Read: “SECURE Act Ushers In Substantial Retirement Plan Changes” Listen: “Episode 216: State & Local Tax Surprises That Hurt Business Value” ? If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

As the costs associated with owning and operating a business continue to rise, owners are always on the lookout for ways to keep more of their money in the business. One popular place to look is insurance. There are a variety of insurance options available, but on this episode of unsuitable, we’re focusing on captives. Brad Stammler, vice president of commercial property and casualty with Leavitt Group, will explain what micro captives and group captives are, how they can help, and when this option might make sense for your business. Listen to this episode of unsuitable to learn: What the current commercial property and casualty insurance marketplace looks like. Will an 831(b)/micro captive help your company? Will a group captive help your company? Learn more about this topic: Read: “Recession-Proofing” Read: “Overhauling The Machine” Read: “Is Your Company Too Small For Self-Insurance?” If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

Don’t you just hate it when you get used to doing something one way and then something unexpected comes along and flips your world upside down? Well, that’s what’s happening in the world of lease accounting. While the Financial Accounting Standards Board’s Accounting Standards Codification Topic 842 won’t actually impact companies until 2021, as always, there are steps businesses should be taking now to prepare. Kerry McElroy and Cody Niese are leading up Rea’s internal ASC 842 task force in an effort to ensure that the transition is as smooth as possible for our clients. In this episode, the duo helps us understand the subject of lease accounting a little bit better while explaining why the change is taking place, how it will affect businesses, the next steps businesses should take, and more. Listen to this episode of unsuitable to learn: What is lease accounting and why is it changing? How will the lease accounting change affect small- to mid-sized businesses? What software solutions are available? Learn more about this topic: Listen: “Episode 204: Ideas That Drive Success In Your Manufacturing Business” Read: “A Closer Look At GASB 84 & 88” Try: LeaseCrunch – Lease Accounting Software for CPA Firms If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

Running a business is a lot of work — but we don’t have to tell you that. You already know how busy your average day is. You’ve lived through the struggles of managing the back office, all while trying to deliver your products and excellent client service. You know how hard it is to recruit and retain really great employees. And yet, even though we know it’s impossible to know (and do) everything, most business owners try to do it all themselves.  But what if you didn’t have to do everything yourself? What if you were able to outsource certain aspects of your business to professionals with expertise in areas like HR, accounting, payroll, and cybersecurity? What if you could outsource these business functions without breaking the bank?  Returning guests Renee West and Matt Long are dedicated to finding outsourced solutions for owners of small- to mid-sized businesses. As leaders on our HR consulting services team and client advisory services team, respectively, Renee and Matt hear a lot of misconceptions about outsourcing. So in this episode, they’re going to clear the air while explaining what the outsourcing process might look like for you. Listen to this episode of unsuitable to learn: Why more businesses are choosing to outsource How outsourcing can help you stay compliant and secure in a world where regulations and technology are constantly changing Why you might want to consider outsourcing key back-office functions and what you can expect if you do Learn more about this topic: Read: "Business Owners Can’t Do It All" Read: "Save Money, Enhance Value With Outsourced Accounting" Listen: “episode 178 – your business’s back office: take it or leave it” If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

Business owners hear a lot about the importance of succession planning and exit planning — and for good reason. Your business is, in all likelihood, your largest and most valuable asset. If you aren’t thinking about how to protect it, increase its value, and (eventually) leave it, you could end up with the short end of the stick where your liquidity, longevity, and legacy are concerned. Fortunately for business owners everywhere, there are people out there who can not only help you avoid some of the more serious exit planning pitfalls but are certified experts in the area of exit planning and can help you identify and achieve your ideal exit planning scenario. Luckily, in this episode, we are speaking with one of those individuals: Mary Beth Koester, principal and director of valuation and transaction advisory services at Rea & Associates. Listen to this episode of unsuitable to learn: What certified exit planning advisory services are and how they can help you plan, deploy, and manage your long-term succession and exit plans. What a typical exit planning process looks like and what a “successful exit” looks like. What is the biggest risk an owner may face when converting their business to cash to be invested? Learn more about this topic: Listen: "Episode 205: What Is An ESOP & How Does It Work?" Listen: "Episode 207: how to sell your business for top dollar" Listen: "Episode 216: State & Local Tax Surprises That Hurt Business Value" If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

When we look back in history, every decade is defined by unique trends, music, and fashion choices. It kind of makes you wonder how this new decade – the Roaring 20s 2.0 – will be defined. But regardless of your personal feelings about bell-bottoms or scrunches, one thing is certain: with every new decade comes progress, in one form or another.  As the president of Safex, a family-owned business health and safety organization located in Central Ohio, Dianne Grote Adams is hoping to see continued progress in the area of safety in the workplace. She has noticed a promising trend with regard to the importance of environmental, safety, health, and sustainability programs, but there’s still a lot of work to be done. So, on this episode of unsuitable, Dianne shares why these programs matter and how shifting your focus on health and safety can improve your business’s bottom line. Listen to this episode of unsuitable to learn: Why safety and industrial hygiene are — pun intended — safe investments for any business The ROI for your investment, both tangible and intangible Why business owners should be aware of a new trend among investors to review ESH&S (environmental, safety, health, and sustainability programs) Learn more about this topic: Listen: “episode 187 – what are you walking into?” Read: “Fighting Back Against The Opioid Epidemic” Read: “You Built A Business. You Grew Its Value. Now You Need To Protect It.”? If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

Businesses need people to survive and thrive. Without the individuals who help you create your products, provide your services, and patronize your establishment, your entire enterprise falls apart — but, unfortunately, people can also be your biggest challenge. So we sit down with Brian Ahearn, who specializes in applying the science of influence and persuasion in everyday situations and is one of only 20 people in the world who currently holds the Cialdini Method Certified Trainer designation. His newest book is Influence PEOPLE: Powerful Everyday Opportunities To Persuade That Are Lasting And Ethical, which quickly rose to the top of Amazon’s bestseller list in multiple categories.   Listen to this episode of unsuitable to learn: The difference between persuasion and manipulation The best way to build strong, lasting relationships The power of good questions   Learn more about this topic: Follow Brian’s work at www.influencepeople.biz Book: Influence PEOPLE: Powerful Everyday Opportunities To Persuade That Are Lasting And Ethical Read: "The Definitive List: Top 100 Professional Development Resources"   If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

Businesses need people to survive and thrive. Without the individuals who help you create your products, provide your services, and patronize your establishment, your entire enterprise falls apart — but, unfortunately, people can also be your biggest challenge. So we sit down with Brian Ahearn, who specializes in applying the science of influence and persuasion in everyday situations and is one of only 20 people in the world who currently holds the Cialdini Method Certified Trainer designation. His newest book is Influence PEOPLE: Powerful Everyday Opportunities To Persuade That Are Lasting And Ethical, which quickly rose to the top of Amazon’s bestseller list in multiple categories. Listen to this episode of unsuitable to learn: The difference between persuasion and manipulation The best way to build strong, lasting relationships The power of good questions Learn more about this topic: Follow Brian’s work at www.influencepeople.biz Book: Influence PEOPLE: Powerful Everyday Opportunities To Persuade That Are Lasting And Ethical Read: "The Definitive List: Top 100 Professional Development Resources" If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

It’s that time of the year again — busy season.  Ensuring that the sheer volume of tax returns flowing through our offices are filed with the IRS on time requires a lot of coordination. So, as you might imagine, scheduling is a critical component of our success, and we’re always striving to do better and maximize our capacity. That’s why Melissa Dunkle, a senior manager on the Rea tax team, recently reviewed our existing processes to ensure that we are being as efficient as possible. In doing so, she uncovered a few best practices all business leaders should be aware of when it comes to implementing their own scheduling practices, which she shares on this episode of unsuitable.   Listen to this episode of unsuitable to learn: How to increase communication within your organization so that you can minimize unnecessary communication with your clients Organizational planning best practices How to foster accountability and ownership at every level of your organization   Learn more about this topic: Listen: “Episode 188 - zen and the art of bookkeeping” Read: “The Scorecard: Qualified Opportunity Zones vs. Section 1031 Exchanges” Read: “Save Money With Tax Credits”   If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

It’s that time of the year again — busy season.  Ensuring that the sheer volume of tax returns flowing through our offices are filed with the IRS on time requires a lot of coordination. So, as you might imagine, scheduling is a critical component of our success, and we’re always striving to do better and maximize our capacity. That’s why Melissa Dunkle, a senior manager on the Rea tax team, recently reviewed our existing processes to ensure that we are being as efficient as possible. In doing so, she uncovered a few best practices all business leaders should be aware of when it comes to implementing their own scheduling practices, which she shares on this episode of unsuitable. Listen to this episode of unsuitable to learn: How to increase communication within your organization so that you can minimize unnecessary communication with your clients Organizational planning best practices How to foster accountability and ownership at every level of your organization Learn more about this topic: Listen: “Episode 188 - zen and the art of bookkeeping” Read: “The Scorecard: Qualified Opportunity Zones vs. Section 1031 Exchanges” Read: “Save Money With Tax Credits” If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast.

Celebrating holidays with family and friends is a great way to put everything into perspective and to simply be grateful for everything we have. But now that it’s January, you might be wondering what you can do to make this feeling of gratitude last.  But our guest, Lisa Ryan, has some ideas for how we can improve our life vision with 20/20 gratitude. Noted international award-winning speaker, best-selling author, and sought-after gratitude strategies expert Lisa Ryan has been working with business leaders across a variety of industries for more than 20 years. She is the president and founder of Grategy, a Cleveland-based firm that specializes in employee engagement, retention, and recognition using gratitude strategies for personal and professional development. Listen to this episode of unsuitable to learn: A simple daily practice that positively impacts every area of life How to strengthen your immune system in just five minutes a day Gratitude strategies (grategies) that strengthen your relationships Simple strategies to create a workplace culture that rocks Learn more about this topic: Watch: “Gratitude Through Failure, Success and Surprise - Lisa Ryan” Read: “A Little Appreciation Goes A Long Way”   If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

Celebrating holidays with family and friends is a great way to put everything into perspective and to simply be grateful for everything we have. But now that it’s January, you might be wondering what you can do to make this feeling of gratitude last. But our guest, Lisa Ryan, has some ideas for how we can improve our life vision with 20/20 gratitude. Noted international award-winning speaker, best-selling author, and sought-after gratitude strategies expert Lisa Ryan has been working with business leaders across a variety of industries for more than 20 years. She is the president and founder of Grategy, a Cleveland-based firm that specializes in employee engagement, retention, and recognition using gratitude strategies for personal and professional development. Listen to this episode of unsuitable to learn: A simple daily practice that positively impacts every area of life How to strengthen your immune system in just five minutes a day Gratitude strategies (grategies) that strengthen your relationships Simple strategies to create a workplace culture that rocks Learn more about this topic: Watch: “Gratitude Through Failure, Success and Surprise - Lisa Ryan” Read: “A Little Appreciation Goes A Long Way” If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

We all have dreams of retiring someday, and if you’re a business owner, you probably have some thoughts about how you would like to leave your business.  As you are contemplating which exit planning route is right for you, there are some pretty major considerations you should be aware of that could ultimately impact the overall value of your business — and if you don’t address those issues now, you could be throwing up roadblocks before you even get started.  Joe Popp, Principal and Director of State and Local Tax (or SALT) services at Rea, returns to share some SALT-related exit planning considerations that all business owners need to know. Listen to this episode of unsuitable to learn: SALT issues that can impact your earnings before interest, taxes, and amortization (EBITA) SALT issues that can impact your reps and warranties Where to start doing your due diligence   Learn more about this topic: Listen: “episode 207: how to sell your business for top dollar” Listen: “episode 173 – back to the basics of business valuations” Read: “What Legacy Do You Want To Leave?” Read: “Wayfair – One Year Later”   If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

We all have dreams of retiring someday, and if you’re a business owner, you probably have some thoughts about how you would like to leave your business.  As you are contemplating which exit planning route is right for you, there are some pretty major considerations you should be aware of that could ultimately impact the overall value of your business — and if you don’t address those issues now, you could be throwing up roadblocks before you even get started.  Joe Popp, Principal and Director of State and Local Tax (or SALT) services at Rea, returns to share some SALT-related exit planning considerations that all business owners need to know. Listen to this episode of unsuitable to learn: SALT issues that can impact your earnings before interest, taxes, and amortization (EBITA) SALT issues that can impact your reps and warranties Where to start doing your due diligence Learn more about this topic: Listen: “episode 207: how to sell your business for top dollar” Listen: “episode 173 – back to the basics of business valuations” Read: “What Legacy Do You Want To Leave?” Read: “Wayfair – One Year Later” If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

Employee healthcare in America continues to be an explosive topic, so it’s no surprise that many employers are struggling to understand the best way to execute an effective employee benefit health plan strategy among their workforce. Luckily, our guest is Dean Stitz, a consultant with McGohan Brabender, who has seen the challenges that businesses are facing first-hand and works with companies to reveal employee benefit health plan opportunities that they may not even be aware of. Listen to this episode of unsuitable to learn: Healthcare is an episodic issue for most individuals, but an organization’s health plan strategy needs to be consistent and communicated effectively The different health plan options that are available to employers today, which are more diverse than you might think What you want to consider as a small- to medium-sized business Vs. a large business   Learn more about this topic: Listen: Episode 205: What Is An ESOP & How Does It Work? Read: Evaluation of HSAs Requires a Team Approach Listen: Episode 198: happy employees = happy business If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast.

Employee healthcare in America continues to be an explosive topic, so it’s no surprise that many employers are struggling to understand the best way to execute an effective employee benefit health plan strategy among their workforce. Luckily, our guest is Dean Stitz, a consultant with McGohan Brabender, who has seen the challenges that businesses are facing first-hand and works with companies to reveal employee benefit health plan opportunities that they may not even be aware of. Listen to this episode of unsuitable to learn: Healthcare is an episodic issue for most individuals, but an organization’s health plan strategy needs to be consistent and communicated effectively The different health plan options that are available to employers today, which are more diverse than you might think What you want to consider as a small- to medium-sized business Vs. a large business Learn more about this topic: Listen: Episode 205: What Is An ESOP & How Does It Work? Read: Evaluation of HSAs Requires a Team Approach Listen: Episode 198: happy employees = happy business If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

As a CPA and business consulting firm, nothing gets the folks at Rea & Associates more excited than a good plan. So, since everyone is starting to look forward to 2020, we think this is a great time to get better acquainted with legacy family planning — and you can really never start thinking about your legacy too early. Darlene Finzer, a principal and legacy training specialist at Rea, joins the show to share her insight on this important but oft-procrastinated topic.   Listen to this episode of unsuitable to learn: What exactly legacy family planning is and how it’s different from estate planning (which is also important) Three different approaches to leaving a legacy Four steps to a living legacy   Learn more about this topic: Listen: “Episode 205: What Is An ESOP & How Does It Work?” Read: “What Legacy Do You Want To Leave?” Read: “How To Lay The Foundation For Transition”   If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

As a CPA and business consulting firm, nothing gets the folks at Rea & Associates more excited than a good plan. So, since everyone is starting to look forward to 2020, we think this is a great time to get better acquainted with legacy family planning — and you can really never start thinking about your legacy too early. Darlene Finzer, a principal and legacy training specialist at Rea, joins the show to share her insight on this important but oft-procrastinated topic. Listen to this episode of unsuitable to learn: What exactly legacy family planning is and how it’s different from estate planning (which is also important) Three different approaches to leaving a legacy Four steps to a living legacy Learn more about this topic: Listen: “Episode 205: What Is An ESOP & How Does It Work?” Read: “What Legacy Do You Want To Leave?” Read: “How To Lay The Foundation For Transition” If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast. 

It’s December now. That means, as far as your company’s finances are concerned, we’re on crunch time. So, did you get everything done that you want to cover over the course of 2019? If not, it’s not too late to take action now — but it will be very soon. Brent Ardit, Audit Principal at Rea & Associates, joins this episode to discuss year-end planning and what you can do as we look ahead to 2020.   Listen to this episode of unsuitable to learn: The opportunities that business owners have as we approach the end of the year How to avoid the most common mistakes that businesses make near the end of the year, even if you’re getting prepared a little late What you need to know about the new revenue recognition standard   Learn more about this topic: Listen: Episode 210: What You Need To Know Before Filing Your 2019 Tax Return Read: What Is the Mid-Quarter Convention? Read: Don’t Wait For An I-9 Audit If you like this episode of unsuitable on Rea Radio, hit the like button or share it on social media. You can also use #ReaRadio to join the conversation. You can also watch the podcast in action on the Rea & Associates YouTube channel and access additional resources at www.reacpa.com/podcast.