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6 Key Components to a Business Budget

Each fall, the CPAs and business advisors at Doeren Mayhew encourage our clients to conduct three important planning steps for the new year – tax planning, developing or revising your strategic plan and developing a business budget. With that in mind, here are six key components of a business budget: A description of your business and its market. You may think you have a sound budget for your company, but it won... more

Simon Acts as Economic Expert – NorthPointe Awarded $15.2M in Lawsuit

Doeren Mayhew Shareholder, Lawrence A. Simon, was retained as an economic damages expert resulting in a $15.2 million award for NorthPointe Holdings LLC during its five year legal battle against Ohio-based Nationwide Mutual Insurance Company. Read more about the litigation in our case study below. Situation: Stemming from a 2007 purchase agreement, Doeren Mayhew’s client NorthPointe engaged Young & Associates ... more

Whitley Joins Doeren Mayhew’s Houston Business Development Team

Houston CPA firm Doeren Mayhew has added Clark Whitley to its Business Development team. With more than 15 years’ experience in business development and marketing, Whitley brings extensive knowledge in tactical and strategic business planning, sales, client relations management and much more. A graduate from Franklin Pierce College, Whitley previously worked for Vaco Houston where he created a new division with a... more

Self-Employed? Save More By Setting Up Your Own Retirement Plan

If you’re self-employed, you may be able to set up a retirement plan that allows you to make much larger contributions than you could make as an employee. For example, the maximum 2014 employee contribution to a 401(k) plan is $17,500 — $23,000 if you’re age 50 or older. Look at how the limits for these two options available to the self-employed compare: Profit-sharing plan -  The 2014 contribution limit is $5... more

Are Your Construction Contracts Choking Project Cash Flow?

When you think about what’s tying up your available dollars, a variety of culprits may come to mind. Perhaps you’re servicing a substantial amount of debt, waiting for some past-due customer payments or dealing with elevated material costs. But one perpetrator of cash-flow crises that often goes overlooked is the piece of paper you sign in advance of every job — the contract. Construction contracts, or rather the... more

Foreign Banks Enforcing U.S. Disclosure Requirements for Cross-Border Investors

by Bill Leary, Director, Doeren Mayhew Most U.S. taxpayers with foreign financial accounts or foreign businesses are responsible for providing information to foreign financial institutions on their offshore investments, and under agreements with the United States, foreign financial institutions are now attempting to determine whether accounts are classified as U.S. accounts. The international tax accountants at Doeren ... more

2014 Year-End Tax Planning Guide: Start Now to Save Later

At the beginning of 2013, many tax rates and breaks were made permanent. The increased uncertainty brought by these tax law changes has in some ways made tax planning in 2014 a little easier, but with these changes also came tax hikes to many higher-income taxpayers. Read more below, and download our 2014 Tax Planning Guide to get started. Tax Increases for High-Income Taxpayers Increases include the return of the 39.... more

Doeren Mayhew Promotes Michigan CPA Andrew Kasischke to Manager

Doeren Mayhew has announced the promotion of Michigan CPA, Andrew Kasischke, to manager within its Troy, Mich. office. Effective Oct. 1, 2014, Kasischke will assume a new position as a manager within the firm’s Accounting, Audit and Assurance Group. Since beginning his career with the firm more than 5 years ago, he has provided audit and assurance services to a broad range of globally based manufacturers, construct... more

Michigan Votes “Yes” to Personal Property Tax Reform

In August, nearly 70 percent of Michigan voters cast their votes at the polls in support of Proposal 1, approving Michigan’s personal property tax (PPT) reform. Boosting Michigan’s Economy Designed to help Michigan’s communities and businesses create a more competitive environment for jobs and growth, the reform package includes an exemption for small businesses and manufacturers’ personal property, as well as a... more

Manufacturers, Others Can Lower Tax Bill With Section 199

With year-end fast approaching, now is a good time for business owners to start thinking about what direction to take in their tax planning. If you’re involved in “qualified production activities” and looking for a smart route to potentially lowering your tax bill, be sure you consider the Section 199 deduction, known as the "manufacturers' deduction." Section 199 Benefits More Than Manufacturers As you can probab... more
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Doeren Mayhew CPAs and advisors is a certified public accounting firm serving businesses nationwide from offices in Michigan, Houston and Ft. Lauderdale. Our award-winning CPAs and investment bankers provide comprehensive accounting and consulting services, specializing in domestic and international tax planning, construction accounting, manufacturing accounting, mergers and acquisitions, lawsuits and litigation support, business valuations and more. Combining a deeply rooted history with a progressive mindset, the firm offers insight into the business, oversight to ensure best practices and foresight for what's ahead. Visit for more information.