Timelines: Three Ways Business Owners Should Look at Succession Planning Business owners are rightly urged to develop succession plans so their companies will pass on to the next generation, or another iteration of ownership, in a manner that best ensures continued success. Ideally, the succession plan you develop for your company will play out over a long period that allows everyone plenty of time to adjust to the changes involved. But, as many business owners learned during the pandemic, life comes at you fast. That's why succession planning should best be viewed from three separate but parallel timelines.
About us
Andrews Hooper Pavlik PLC (AHP) was founded in 1993 by three partners of Ernst & Young. Jim Andrews, Mark Hooper, and Kim Pavlik, along with a team of 26, focused on the firm’s mission to deliver Big 4 audit, tax, and accounting services in our Saginaw and Okemos locations. Our firm experiences significant organic growth as we merge with successful regional accounting firms sharing similar missions, principles, and values. Investment planning, business, and IT consulting rounded out the service offerings while our footprint broadened to include offices in Ann Arbor, Bay City, Bloomfield Hills, Flint, Grand Rapids, Marquette, Midland, and Owosso. Today, our team of over 180 provides a full suite of professional services to clients throughout Michigan and beyond. With two affiliated companies, AHP Financial Services Inc. and AHP Consulting LLC, we remain committed to delivering superior services at the local level and have become the firm of choice for businesses and individuals looking for professional advisors focused on their success. AHP is a proud member of Allinial Global, an association of accounting and consulting firms whose members reinforce client service by exchanging expertise, resources, and advice in a wide range of industries. Founded in 1969, Allinial Global is one hundred members strong and growing, with locations throughout the US, Canada, Mexico, Caribbean, and larger world generating approximately $1.6 billion in collective revenues. Their global reach helps AHP serve our clients’ business needs throughout the world. As an Allinial Global member, we are proud to be an independently owned firm that’s passed the high threshold of association membership. Though each accepted firm excels in its own right, the strong relationships developed between peer firms combined with a free and fruitful exchange of ideas ultimately advance all of our service outcomes.
- Website
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http://www.ahp.cpa
External link for Andrews Hooper Pavlik PLC
- Industry
- Accounting
- Company size
- 51-200 employees
- Headquarters
- Saginaw, Michigan
- Type
- Partnership
- Founded
- 1993
- Specialties
- Accounting, Tax, Audit, Fraud Detection and Prevention, IT Consulting, and Retirement Planning
Locations
Employees at Andrews Hooper Pavlik PLC
Updates
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You May Be Entitled to Tax Breaks if Caring for an Elderly Relative There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person's life and allowing the person to receive quality care. In addition, you could also be eligible for tax breaks. Here's a rundown of four of them: 1. Medical expenses 2. Filing status 3. Dependent care credit 4. Nonchild dependent credit
You may be entitled to tax breaks if caring for an elderly relative - Andrews Hooper Pavlik PLC
https://www.ahpplc.com
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Small business owners: Are you spending too much time on bookkeeping? AHP's outsourced accounting services allow you to focus on growing business. Call today or visit our website. www.ahp.cpa
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A Three-Step Strategy to Save Tax When Selling Appreciated Vacant Land Let's say you own one or more vacant lots. The property has appreciated greatly and you're ready to sell. Or maybe you have a parcel of appreciated land that you want to subdivide into lots, develop them and sell them off for a big profit. Either way, you'll incur a tax bill. For purposes of these examples, let's assume that you own the vacant land directly as an individual or indirectly through a single-member LLC (SMLLC), a partnership or a multimember LLC that's treated as a partnership for federal income tax purposes. Here are a couple of scenarios and a strategy to consider. Scenario 1: You simply sell vacant land that you've held for investment Scenario 2: You develop a parcel and sell improved lots
A three-step strategy to save tax when selling appreciated vacant land - Andrews Hooper Pavlik PLC
https://www.ahpplc.com
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Looking for a career in accounting? AHP offers exciting opportunities for entry-level candidates as well as experienced. Join our team of professionals today!
Career Opportunities - Andrews Hooper Pavlik PLC
https://www.ahpplc.com
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Businesses Must Face the Reality of Cyberattacks and Continue Fighting Back With each passing year, as networked technology becomes more and more integral to how companies do business, a simple yet grim reality comes further into focus: The cyberattacks will continue. In fact, many experts are now urging business owners and their leadership teams to view malicious cyberactivity as more of a certainty than a possibility. Why? Because it seems to be happening to just about every company in one way or another. A 2023 study by U.K.-based software and hardware company Sophos found that, of 3,000 business leaders surveyed across 14 countries (including 500 in the United States), a whopping 94% reported experiencing a cyberattack within the preceding year.
Businesses must face the reality of cyberattacks and continue fighting back - Andrews Hooper Pavlik PLC
https://www.ahpplc.com
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IRS Statement on Balance Due Notices (CP14) June 12, 2024 The IRS is aware that some taxpayers are receiving CP14 (Balance Due, No Math Error) notices indicating a balance due even though payments were made with their 2023 tax return. Who is affected: Taxpayers who paid electronically or by check with their 2023 tax return, may show their accounts as pending, although the IRS has received and processed payment through their banking institution. The notice may have been initiated before the payment was processed on the account, or the payment may have been processed but contained errors and requires additional handling to address the error before updating the tax account. No immediate action or phone call needed: Taxpayers who receive a notice but paid the tax they owed in full and on time, electronically or by check, should not respond to the notice at this time. The IRS is researching the matter and will provide an update as soon as possible. Note that any assessed penalties and interest will be automatically adjusted when the payment(s) are applied correctly by the IRS. Taxpayers who paid only part of the tax reported due on their 2023 return should pay the remaining balance or follow instructions on the notice to enter into an installment agreement or request additional collection alternatives. For affected taxpayers, the IRS apologizes for the inconvenience this delay in processing your payment has caused. Provided by: The IRS
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Eight Key Features of a Customer Dispute Resolution Process for Businesses Some of the complaints may be people looking to negotiate a discount, "game the system" or even outright defraud you. But others could be legitimate complaints arising from mistakes on your company's part, technological glitches or, perhaps worst of all, fraudulent actions by a third party. Whatever the case may be, you can protect your business's reputation and even strengthen its brand by creating and maintaining an effective customer dispute resolution process that includes eight key features: 1. Easily accessible channels of communication 2. An efficient timeline 3. Empathy and understanding 4. Rigorous investigatory techniques 5. Strong data protection 6. Transparency and proactive follow-ups 7. Timely resolution 8. Documentation and analysis with an eye on continuous improvement
8 key features of a customer dispute resolution process for businesses - Andrews Hooper Pavlik PLC
https://www.ahpplc.com