Insights & Resources

Insights

Driven by personal passions, Abdo professionals dive deep into their individual areas of expertise and distill their knowledge to keep you fully informed.

How to prepare your closely held business for an internal succession

Transitioning your business to a family member or longtime employee can be a way to keep your company independent while creating a rewarding experience for all. If you’re envisioning an internal succession, here are a few things you can do now to facilitate a smooth transition.

Offering Your Employees PTO Payouts or Carryovers? Don’t Forget About Constructive Receipt

Constructive receipt is an IRS tax doctrine that dictates when employees should recognize income related to non-cash wages, including PTO. Learn about the specific implications for employers that offer PTO benefit payout or carryover.

Change Management Series: How to Achieve Sustainable Change

You’ve figured out potential solutions and devised a plan for bringing them to life. Now, how do you make your change happen? Read this third in our Change Management Series to get tips for implementing a change.

Spotlighting Issues in Your Firm Using Strategic Data Analytics Part 2: Capacity

The work we do as CPA firms is constantly in flux, which makes gauging staffing capacity a constant challenge. The line between over and under budget is a hard one to walk. Yet knowing where we stand capacity-wise lets us determine if we need to accelerate or decelerate our hiring or reallocate staff members. This is where our strategic data analytics solution, Compass, has proven invaluable.

Addressing adopted children or stepchildren in your estate plan

To ensure your desired treatment of adopted children or unadopted stepchildren, you and your spouse or partner must clearly communicate your plans through wills, trusts and other estate planning documents.

When should you turn down an inheritance?

If you expect to receive an inheritance from a family member, you might want to use a qualified disclaimer to refuse the bequest, saving gift and estate tax while redirecting funds appropriately.

Change Management Series: How to Plan for Change

You and your team need to solve a problem—you need to make a change. But where do you begin? The second article in our Change Management Series sheds light on five steps to follow when planning for change.

What Every Employer Should Know About Sick Pay

The IRS defines sick pay as an amount paid under a plan to an employee who is unable to work because of sickness or injury. Sick pay may be paid by an employer or a third party, such as an insurance company, and includes both short- and long-term disability benefits.

Preparing W-2s? Don’t Forget Fringe Benefits

As the weather takes on a wintry feel here in Minnesota, we’re forced to accept what we’ve been denying for weeks: the end of the year is near. For employers, this means it’s time to think about several tax-related to-dos, including W-2s.

Accounting for election judge pay: What Minnesota cities need to know

As we approach another busy election season, here are some basic items to remember about election judge wages.

8 Effective Ways to Enhance the Value of Your Business

Do you find yourself asking what you can do to increase the value of your business? Kevin Kalal shows you 8 ways you can make it happen.

Could You Qualify as a Real Estate Professional?

Too many people miss out on a tremendous tax savings because they simply don’t know they qualify as a real estate professional. Don’t let this be you!