Business Advisory | Albin, Randall and Bennett

USMCA Replaces NAFTA: Provisions Benefit Small Businesses, the Automotive Sector & Manufacturing Companies

For merchandise entered into commerce after July 1st, the North American Free Trade Agreement (NAFTA) rules no longer apply. After almost 27 years of trading under NAFTA, the U.S. Customs and Border Protection (CBP) has implemented the United States-Mexico-Canada Agreement (USMCA). The new trade legislation has largely had bipartisan support, with all in favor of

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Recognizing the Value in Your Management Team

Attracting and retaining motivated and dedicated key employees should be crucial to any business plan, but it is all too easy to mistake for a “back-burner” issue in the midst of succession and exit planning. You’re worried about financial security, timing, the future of your company… is it really a time to have recruiting and

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DOL Announced Final Rule on Overtime

Which employees of your business qualify for time and a half? It’s time to reevaluate that question, namely at the executive, administrative, and professional levels. The threshold for exemption has changed. On September 24, 2019, the U.S. Department of Labor (DOL) announced a final rule on overtime. Effective January 1, 2020, the DOL estimates 1.3

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FASB Proposes Extended Effective Dates for Private Companies and Nonprofits

Yesterday the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update that changes the effective date for certain new accounting standards. Private companies and nonprofits will benefit from the additional time to evaluate and implement the new lease, expected credit loss (CECL), and hedge accounting standards. The following are the proposed new effective dates: Leases- years beginning after December

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