February 18, 2021
DON'T GET LEFT BEHIND

By Lisa Purichia
Partner, Director of Accounting Services & Retirement Plan Services

Although COVID is continuing to leave its mark on all of us, you can't let it push your business further behind. You have to get out in front of the issue. As the adage goes, "the only way out of the fire is through it."

During the past year, it's understandable for businesses to be more reactive than proactive. But with COVID cases declining and the promise of vaccines going into arms and supporting therapeutics, you must prepare for getting back to business in a proactive manner.

SUCCESSION PLANNING MUST BE A CONSTANT PRIORITY

By Tom Sponsel, CPA/ABV, CFF
Managing Partner

With COVID disruptions and distractions, and the start of a new business year, succession planning is probably not at the top of your priority list right now, but you should never lose sight of it. It's important to plan for the perpetuation of the business both from an equity ownership standpoint as well as the transfer of the executive management of your enterprise.

For a successful transition, it's best to plan five to ten years in advance, but it is never too late to start! You'll want to have a clear vision for the future of your business. However, if you are passing the business onto a younger colleague or family member, you may need to collaborate and compromise in order to bridge the generational gap and decide upon a vision that suits both of your respective objectives.

HEAD ON BACK DOWNTOWN!

Indianapolis has come a long way. Known in past decades largely for its racetrack, this once sleepy town fittingly nicknamed "Naptown" is now a bustling metropolis. Well, maybe not so bustling at the moment.

After the impact of COVID, downtown Indy turned into a shadow of its former self. But we’re closer to warmer weather and the light at the end of what’s become a very long tunnel. As we slowly but surely return to some partial sense of normalcy, we encourage you to visit and revitalize our beautiful city. Local businesses need your support. Our restaurants and related hospitality merchants are struggling and NEED OUR SUPPORT!

EMPLOYEE SPOTLIGHT: LESLIE MUNAS

Leslie Munas is one of the newer members of the Sponsel CPA Group family, having joined as a Manager in the Tax Services department in October of 2020 . In addition to a bachelor's degree in accounting and finance from Marian University, Munas has years of professional tax services experience in Indianapolis.

As a Manager, Munas leads the client service team in meeting the tax planning and compliance needs of clients across a broad spectrum of industries.

A Friendly Tax Season Reminder

Procrastinators caught a break with the tax filing extensions last year, but now we're back on schedule! We ask our clients to please send us their personal tax returns by March 1 so we can get the ball rolling on filing! Thank you, much appreciated!