Business Services & Solutions

Tax Scam Notification

The Rhode Island Division of Taxation has cautioned Rhode Island businesses owners about a scam in which individuals claim to be collections agents of the Rhode Island Division of Taxation and request immediate payment. Please note that the Division of Taxation does not request cash or other payment by businesses...

RI Self (Managed) Audit Program – for Use Tax

The Rhode Island Division of Taxation is mailing letters to 9,600 businesses and individuals stating that they have been selected and may qualify for a voluntary self-audit program.  This self-audit program provides a participant with the opportunity to perform an examination of their records (with supervision from the RI Division...

The Right Way to Structure a Bonus Plan

Payroll is one of the largest, if not the largest, expenses for many closely held businesses. But many owners don’t view compensation through a strategic lens. This is especially true when it comes to paying employee bonuses. Often, businesses decide that they are going to create an employee bonus plan because...

Don’t Let Your Company’s Succession Plan Go Down the Drain.

One of the most critical aspects of creating a succession plan is not only the transfer of control over a company, but the transfer of knowledge within the company. Without effective knowledge management plans, many manufacturers and distributors are losing valuable knowledge as owners and workers retire.

Succession Planning: Build Value into Your Company

The construction industry is notoriously cyclical — boom-and-bust patterns seem to repeat at regular intervals. As they look back over the latest cycle, many experienced contractors are deciding they don’t want to struggle through another downturn in five or ten years, and are turning their attention to succession planning. In...

Exit Planning: Is an ESOP the Right Exit Strategy for You?

It's never too early to start thinking about the day when you will eventually exit the business you've built, grown and nurtured. The most common include passing the business on to family members or selling it to outsiders (for example, private investors or a competitor) or insiders (your employees). Another...