Spring Cleaning Your Debt

It's springtime--time for you to take stock of your surroundings and get rid of the dirt and clutter that you've accumulated during this past year. In addition to typical spring cleaning tasks, you may want to take this time to focus on your finances. If you have followed my blog posts, now may be as good a time as ever to evaluate your debt situation and try to reduce and/or eliminate any debt obligations you may have. The following are some tips to get you started. 

Determine whether it makes...

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Featured Job Opportunity: Controller/Business Manager

Skoda Minotti Professional Staffing is currently assisting a service client in their search for a Controller/Business Manager.

The Controller/Business Manager will oversee daily, month-end, and year-end accounting and human resource functions, including: 

  • Payroll, accounting responsibilities, benefits, 401k, banking relationships, and business insurances.
  • Month-end account reconciliations – prepare or assist in preparation of:
    • Bank account reconciliations
    • Accounts payable reconciliations
    • Any other...
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What's WhatsApp Worth?

Like many other finance professionals, the recent news of Facebook’s $19 billion acquisition of WhatsApp had me wondering, how can Facebook justify such an exorbitant purchase price?  In the valuation world, we often get caught up trying to justify the purchase price with complex math and fancy sounding terms like revenue enhancement, monetization, and synergy.

But as I read the commentary on the acquisition, I found that the application of any traditional valuation method to justify the $19...

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What Baseball Can Teach You About Financial Planning

Spring training and opening day are traditions that baseball teams and baseball fans look forward to every year. No matter how they did last year, teams in spring training are full of hope that a new season will bring a fresh start. As this year's baseball season gets under way, here are a few lessons from America's pastime that might help you reevaluate your finances.

 

Sometimes you need to proceed one base at a time

There's nothing like seeing a home run light up the scoreboard, but games are...

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U.S. Economic Round-Up

The stat collectors released many data points over the past week. This note walks through a few charts we found interesting.

The graphic below breaks up the five components of the U.S. Gross Domestic Product (blue line) to show the contribution made by each sector. Fourth quarter GDP came in at 2.6%, slightly below expectations and down from 4.1% in the third quarter. Personal consumption was solid while the inventory build in the third quarter predictably had companies pulling back in the...

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Foreign Sweep Accounts – Protect Yourself from Costly Penalties

 

Do you have any bank accounts with a “foreign sweep” feature? If so, you’ll want to read on to ensure you’re not at risk for significant financial penalties related to failing to disclose/report foreign bank accounts.

What are sweep accounts?

Many banks offer an “overnight sweep” feature that sweeps excess funds in an account to another branch of the bank. The idea is that your funds never sleep – they earn both during the day and at night.

How do you know if your sweep feature requires foreign...

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Skoda Minotti Named One of the Top 100 Firms in the Country

Skoda Minotti, a CPA, business and financial advisory firm headquartered in Cleveland, Ohio, announced it has been named to Accounting Today’s list of Top 100 firms nationwide. The $40M firm was ranked #80 nationally and landed in the top spot for growth of firms with revenues under $100M and second in the combined (over/under $100M revenue) growth category. The firm is also #14 in the Great Lakes region (Illinois, Indiana, Michigan, Ohio and Wisconsin). This is the first year the diverse firm...

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Selling Your Business: 5 Reasons Why You Need an Expert Valuation

In my last blog, "Why Net Working Capital Must be Considered in Transactions," we looked at the potential purchase or sale of a business. Today, we'll focus on the selling side. Selling a company can be a daunting task for a small business owner.  With countless legal experts, consultants, bankers and accountants from which to choose, a small business owner may be asking, “What services do I need and who should I hire?”

One very important and often overlooked step in the process of selling a...

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Emerging Markets Flow Show

Much is going in the world of geopolitics with effects on financial markets. From China allowing its currency to float in a wider band and of course daily news out of Russia, opportunity and risk are ever present. This note touches on an interesting development around investor behavior related to the broader emerging markets region.

According to EPFR Global, investors sold $100 billion of emerging market equity funds over the last 12 months. This amounts to approximately 10% of assets under...

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Featured Job Opportunity: Senior Tax Accountant

Skoda Minotti Professional Staffing is currently assisting a client in their search for a Senior Staff Accountant.

Some key responsibilities for this role include providing support to the Tax Manager; maintaining control over SAP support tool for assessment and reporting of Sales and Use taxes; and coordinating tax entries for U.S. Consolidated Tax entities and Canadian entities.

Candidates should have a Bachelor's degree (or equivalent) and a minimum of three to five years of tax and accounting...

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