Be Prepared For Disaster

January 28, 2010 2:07 PM
If disaster struck your place of business, what would you need the next day to get the company up and running again?
Review the Challenge and the Solution to Backup/Disaster Recovery
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Haiti Relief Donations Qualify for Immediate Tax Relief

January 26, 2010 10:00 AM
WASHINGTON — People who give to charities providing earthquake relief in Haiti can claim these donations on the tax return they are completing this season, according to the Internal Revenue Service...more

Keep The Money In Your Pocket

January 15, 2010 2:55 PM
Recent headlines seem to include news of fraud every day. Trusted employees are accused of embezzling company money. Investment advisors concoct schemes to deceive investors. The impact on companies...more

Importance Of The Annual Meeting

December 28, 2009 2:47 PM
One of the requirements for maintaining a corporation’s existence (and the liability protection that it affords) is that the shareholders and Board of Directors must meet at least annually. Although...more

Should I Convert My Traditional IRA To A Roth IRA?

December 15, 2009 4:47 PM
The obvious benefit of a Roth IRA is that ALL future distributions from the account will be tax free! However, there are many issues to consider when deciding if and when it makes sense to convert...more

End-Of-Year QuickBook Tips

December 10, 2009 4:26 PM
If your business is using QuickBooks software, there are several activities that should be performed on a regular basis to keep QuickBooks performing well and to protect its data:  Update your...more

Updating Your Business Plan

December 2, 2009 4:49 PM
Does your company have a current business plan? Most business owners have created this important map of where their company stands and where they’d like it to go in the future. However, changes in...more

Home-Buyer Tax Credits Expand

November 30, 2009 4:48 PM
You no longer have to be a first-time homebuyer to take advantage of the tax credit for buying a new home! New legislation passed in November provides a $6,500 tax credit to current homeowners who...more

Business Tax Planning Strategies - 2009

November 25, 2009 4:27 PM
As your company’s profit or loss picture for 2009 becomes clearer, year-end tax planning presents a final chance to strategically fine-tune your income tax liability. With these trying economic...more

Individual Tax Planning Strategies - 2009

November 25, 2009 12:17 PM
There is still plenty of time to decrease your 2009 tax bill!Once New Year’s Day rolls around, your tax liability is set in stone. By taking certain steps now, before 2009 draws to a close, you can...more

Net Operating Losses – An Opportunity to Generate Cash?

November 21, 2009 1:42 PM
In these difficult economic times, many businesses are unfortunately operating at a loss. For Federal income tax purposes, the net operating loss (NOL) can be carried back in order to recoup income...more

Fringe Benefits

November 18, 2009 4:46 PM
Year end is upon us once again and that means it is time to start thinking about fringe benefits that must be included as wages on Form W-2.     The following need to be considered for those...more

Should I convert my traditional IRA to a Roth?

November 17, 2009 4:16 PM
The most obvious benefit of a Roth IRA is that future distributions from the account will be forever tax free – you or your heirs will never pay a dollar of tax on the account appreciation. Also,...more

Required Minimum Distribution Waived for 2009 –

November 15, 2009 7:48 AM
The Worker, Retiree and Employer Recovery Act of 2008 waives required minimum distributions from certain retirement plans, including IRA’s, for 2009.     If you have already received your 2009...more

Effects of Economic Downturn on Your 401(k) Plan

November 5, 2009 12:00 PM
This economy is forcing many companies to cut costs where ever possible, including staff reductions and reducing or discontinuing matching contributions. There are very complex rules that govern your...more

Multi-State Compliance

October 5, 2009 7:41 AM
Subject to Taxes in Another State?As tax revenues decrease, state revenue departments are becoming more aggressive in identifying out-of-state businesses that are not filing tax returns with their...more

Alternatives To Layoffs

September 29, 2009 7:34 AM
There have been hundreds of thousands of job losses in the last year as companies cut back on staff in light of dwindling revenues, tight credit conditions or other signs of an economy in distress...more

C&G GroupTakes Leading Role at Alliott Worldwide Conference

September 22, 2009 7:26 AM
The 30th annual Alliott Group Worldwide Conference was held this year in Boston, during the week of September 15th and, despite the rough worldwide economy, the conference was well attended. Among...more

WISCONSIN TAX UPDATE - 2009

July 7, 2009 1:35 PM
On June 29, 2009, Governor Doyle signed into legislation the 2009-2011 Wisconsin Budget Act. As part of the budget, there are several tax law changes for 2009. Highlights are:     Property Taxes - WI...more

CASH FOR CLUNKERS BILL BECOMES LAW!

June 25, 2009 1:32 PM
On June 24, 2009, President Obama signed legislation aimed at boosting new vehicle sales. The time period for the program will run from late July, 2009 to November 1, 2009.     The program will offer...more

Cash Flow Forecast

June 1, 2009 2:37 PM
Preparing and using a cash flow forecast is considered a best practice for successful businesses. Necessary in today’s difficult economic situation, the purpose of a cash flow forecast is to provide...more

Who do you know has FRAUD?

May 5, 2009 2:20 PM
The question might be considered funny or rhetorical. Unfortunately, you probably aren’t aware if it’s occurring in your own company since fraud is, by its very definition and nature, a clandestine...more

How can my company avoid being a victim of employee theft?

April 3, 2009 10:07 AM
"Employee theft is a major and growing threat that may take your business down before any recession ever will. The environment is ripe. With the economoy continuing to slide, the temptation for...more

Hardship Withdrawals From Retirement Plans

March 12, 2009 9:44 AM
In today's financial crisis, people may need to take withdrawals from their retirement plans to cover costs such costs as mortgage payments, medical expenses, tuition, or everyday bills. The tax...more

2009 Stimulus Bill - Business Taxpayer Incentives

February 23, 2009 10:41 AM
$300 BILLION IN TAX RELIEF UNDER NEW STIMULUS BILL     The stimulus bill provides immediate federal tax relief to both individuals and businesses. Many of the incentives are retroactive to January 1,...more

2009 Stimulus Bill - Individual Taxpayer Incentives

February 23, 2009 10:32 AM
$300 BILLION IN TAX RELIEF UNDER NEW STIMULUS BILL     On February 17, 2009, the American Recovery and Investment Act was signed into law.     The stimulus bill provides immediate federal tax relief...more

Chortek & Gottschalk Announces Firm’s Expansion

January 22, 2009 2:12 PM
Chortek & Gottschalk Announces Firm’s Expansion into Chicago and Beverly Hills; Dave Friedman Joins as Partner Waukesha, WI (January 22, 2009) – Chortek & Gottschalk LLP, a full service accounting,...more

Required Minimum Distributions Suspended for 2009

December 19, 2008 4:50 PM
Almost everyone's portfolios have taken a hit in 2008 with the slowdown in the economy. The recently-passed Worker, Retiree and Employer Recovery Act helps individuals who must take required minimum...more

Individual Strategies

November 20, 2008 4:38 PM
Pertinent tax strategies for individual taxpayers include based on President-elect Obama's Tax Agenda include:     Long-Term Capital Gains- Discuss with your financial advisor the selling of...more

Business Tax Strategies

November 20, 2008 4:35 PM
While only a few of President-elect Obama's proposed tax changes affect the business directly, many of the proposed changes affect the shareholders and owners of the business.    Corporate Dividends...more

President-Elect Obama’s Tax Agenda

November 19, 2008 4:31 PM
President-elect Barack Obama has pledged to cut taxes for the middle class, increase taxes on higher-income taxpayers, and lower corporate tax rates. Certainly, Obama’s proposals make tax planning...more

Budgets and Control of Your Operations

November 5, 2008 3:25 PM
The thought of preparing a budget or projecting profits and losses probably doesn’t fill you with a sense of anticipation. While you may have an informal budget in mind, a formal, well-prepared...more

IRA To ROTH and Back

October 25, 2008 3:00 PM
Is there a benefit in the recent downturn in the stock market and the resulting decrease in the value of your IRA? Probably not, but the situation increases the attractiveness of converting the...more

Navigating an Economic Downturn

October 20, 2008 1:09 PM
It appears that the recent credit crisis is pushing us into a global recession. Many economists feel that this economic downturn could last a year.     Visit C&G's 17 starting points to help you...more

Benefits of a Board of Directors

October 15, 2008 4:42 PM
In today’s business environment, we continually hear about regulations, best practices, oversight, accountability, codes of conduct, and establishing good corporate governance.     There is a strong...more

New Tax Law Makes Over 100 Changes – Can You Take Advantage of One?

October 10, 2008 1:55 PM
On October 3, 2008, the Emergency Economic Stabilization Act of 2008 was signed into law.     The rescue plan is designed to restore liquidity to the financial markets. At the same time, it includes...more

BUSH SIGNS FINANCIAL MARKETS RESCUE BILL

October 4, 2008 9:48 AM
On October 3, 2008, the Emergency Economic Stabilization Act of 2008 was signed into law. While the headline-maker relates to the bail-out of the financial markets, over 100 tax provisions are...more

Fraud Roundtable

September 12, 2008 12:40 PM
Paul Rodrigues, our Certified Fraud Examiner (CFE), recently participated in a roundtable on fraud facilitated by The Business Journal of Milwaukee, where two other industry experts joined him...more

Bonus Depreciation—Act by year’s end

September 10, 2008 10:49 AM
With year-end planning quickly approaching, keep in mind that additional bonus depreciation is back. Section 179 expense limits were also increased for 2008.     The Economic Stimulus Act reinstated...more

How an Operational Review Can Improve Your Profitability

September 4, 2008 10:43 AM
Recession, tighter credit, loan covenants, commodity prices, surcharges, business inefficiencies and inadequacies—are these issues that keep you up at night? If so, your company could benefit from an...more

New Image-Based Backups Reduce Risk

August 29, 2008 10:40 AM
Data backups have traditionally been performed using two technologies: tape drives and file-based backup software. There are problems with these technologies that have caused alternative technologies...more

Positive Pay = Smart Move

August 20, 2008 11:31 AM
Positive Pay, a cash management service offered by many banks, is designed to detect and minimize check fraud. The process is relatively simple: a company sends its bank a list of checks issued each...more

Safe Harbor Provisions Can Benefit Employers

July 17, 2008 11:30 AM
Have you, as the owner of a company, been limited in the ability to defer the maximum amount of 401(k) contributions into your own account? Are you not able to take advantage of deferring up to...more

Server Virtualization—not just for Big Business anymore

July 1, 2008 11:20 AM
As computing power continues to double every 18 months on average, new technologies with far-reaching impact on how servers and networks are designed are now available. Once solely available for the...more

How an Audit Committee Can Improve Your Business:

June 15, 2008 12:57 PM
We strongly recommend that those companies who have an outside Board of Directors form an audit committee as a subset of that Board. If your company does not have an outside board of directors you...more

5 Tips to Improve the Network Security of Your Business:

June 5, 2008 11:15 AM
We assist customers with addressing the following basic security issues on a regular basis. Please call us today at 262-522-8226 for more information.   Get Patched Run all security updates from...more

SBA Requires New Business Valuations

May 29, 2008 10:58 AM
The Small Business Administration (SBA) considers a change in ownership to be a “new” business because it will result in new, unproven ownership/management and increased debt unrelated to business...more

CGK Adds Successful Executive Manufacturing Consultant as Resource

May 15, 2008 10:40 AM
CGK is pleased to announce the addition of Terry Wacker, who will lead CGK's manufacturing, logistics and engineering consulting business. Manufacturers are facing tough challenges; with increased...more

The #1 Method of Payroll Fraud

April 25, 2008 3:55 PM
The most common method of misappropriating funds from the payroll is the overpayment of wages.   In companies that use time clocks to collect timekeeping information, payroll fraud is relatively...more

Are you ready to cut days or weeks out of your budgeting process?

April 22, 2008 3:53 PM
C&G offers a turnkey budgeting service. One component of the service features Sage Active Planner software to streamline your budgeting process. Businesses benefit from Sage Active Planner because it...more

No Technology Use Policy = High Business Risk

April 15, 2008 3:51 PM
In the age of ever-increasing reliance on information, there are serious risks to running a business without a comprehensive technology use policy. Employees may sue the business if they are offended...more

Increased Interest in Recapitalizations

April 8, 2008 9:12 AM
More and more business owners are taking advantage of a financial tool known as a recapitalization or “recap,” for short. Could a recap work for you?   One of the advantages of a recap is that it...more

How easy is it to arrive at your destination without a map?

April 3, 2008 1:39 PM
With the tightening credit market and downturn in many industries, more businesses need a financial budget to serve as a map, a tool to gauge the financial performance of their companies year to...more

The #1 Reason Employees Commit Fraud

April 2, 2008 12:58 PM
According to the Association of Certified Fraud Examiners, the most common explanation for criminal activity, in general, and internal fraud, in particular, is the accused's attempt to achieve equity...more

C&G Joins the Employee Benefit Plan Audit Quality Center

April 1, 2008 12:53 PM
Chortek & Gottschalk LLP has over 20 years of experience in performing employee benefit plan audits. Demonstrating our commitment to the highest quality audits, C&G recently joined the AICPA Employee...more

Should you implement MS Vista for your business?

February 28, 2008 9:00 AM
Microsoft's latest desktop operating system, Windows Vista, has been among the slowest to be adopted by business users. Many IT experts (including C&G Consulting) and businesses have been waiting for...more

The Economic Stimulus Package - 2008

February 25, 2008 9:00 AM
The Economic Stimulus Act of 2008 package was signed into law on February 13, 2008. The Act provides benefits for individual taxpayers through rebate checks and significant incentives for businesses...more

Firm Adds Paul Rodrigues

January 2, 2008 9:00 AM
   FOR IMMEDIATE RELEASE!   CPA and Business Advisory Firm Chortek & Gottschalk Announces New Principal     Waukesha, WI (January 16, 2008) – Chortek & Gottschalk LLP (C&G), a certified public...more

Client participates in Trees for Troops

December 15, 2007 9:00 AM
Noffke Tree Farms of Mequon, a firm client for many years, was the drop-off point for 10 area Christmas tree growers donating 200 Wisconsin-grown trees to the Trees for Troops program. A large FedEx...more

Benefiting from the Federal Community Renewal Tax Relief Act

December 1, 2007 9:15 AM
The Federal Community Renewal Tax Relief Act was passed to encourage public-private collaboration to generate economic development in 40 distressed communities around the country. As a result of this...more