In total, we published 35 blog posts in 2019. While we received positive feedback throughout the year, a few posts were particularly popular with our readers.
Here are the top five posts from the Center for Private Company Excellence blog in 2019:
1. The Yuengling Family Prepares For Its Sixth Generation, With a Twist
I recently came across an article in Lehigh Valley Business that discussed the succession plans of Yuengling, the famous brewery headquartered in Pottsville, Pennsylvania. In a family business that has traditionally been handed down from father to son, Yuengling is now preparing for its sixth generational transfer - this time, from father to four daughters.
2. S Corporation Shareholder Compensation: What Should I Be Thinking About?
At least a few times per year, I am asked the question, "How much should I be taking as a salary?" This question is particularly important for S corporations because paying too much or too little salary has important tax consequences - the IRS may re-characterize distributions or reassign income to properly reflect the value of the services provided. Here are a few considerations that should be evaluated when determining compensation payments.
3. 11 Do's and Don'ts of Succession Planning
There has been a lot written about succession planning, and we are aware that succession planning is more than mitigating the risk of someone “getting hit by a bus.” Rather, an ideal succession plan enables a smooth transition, minimizes disruptions to the business, and incorporates the following do’s and don’ts to achieve an effective plan.
4. Are you making any of these 4 common pricing mistakes?
We have found that a review of a company’s pricing methods and strategies can provide the quickest improvement to the profitability of the business. Prices can be adjusted immediately and the effect flows straight through to your bottom line. Through our work in helping clients evaluate their pricing methodologies, we have identified four common mistakes. Do any of these ring true for your business?
5. The Impact of the Wayfair Decision on Remote Sellers
By now, most businesses have heard of the Wayfair decision rendered by the U.S. Supreme Court. For those who have not, or who might have dismissed the decision as not applicable, the Wayfair decision basically rewrote the definition of nexus for sales tax purposes. Prior to this decision, a business needed to have some minimal physical connection to a state before it was required to collect sales tax. Today, the physical connection component for sales tax nexus is gone.
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