January 21, 2021
WHAT IS APPROPRIATE FOCUS FOR LEADERSHIP?

By Tom Sponsel, CPA/ABV, CFF
Managing Partner

As unprecedented political events flood your newsfeed these days, you may find it difficult to focus on tasks at hand. Your most critical objective should be to focus on what you can control — within your business and your personal life.

In the midst of political upheaval and the continuing impact of COVID, your stakeholders are looking toward their leader for inspiration and the confident, proper path forward.

KEEP TOMORROW IN MIND AS YOU DEAL WITH TODAY

By Lisa Blankman, CPA
Manager, Audit & Assurance Services

Given the disruptions of last year, you'll naturally want to hit the ground running in 2021, but don't get lost in the daily hustle and bustle. Routine can get in the way of reflection, clouding your long-term vision for your company. As business guru Michael Gerber said, you need to take time to "work on your business, not just in your business." 

Stepping back and taking a 360-degree evaluation of your company is essential for it to evolve and thrive. Adaptation and evolution are vital right now, as we continue coping with what COVID throws at us. As these hurdles pop up, you may wonder when you'll even have the time to think about the long term.

EMPLOYEE SPOTLIGHT: SUE HOTT

Sue Hott has worked in the field of banking and finance for more than 30 years. She joined the Sponsel staff in the summer of 2017, and she serves as an administrative assistant to Sponsel partner Lisa Purichia.

In her position, Sue provides support to the departments of Accounting Services, Retirement Plan Services and Human Resources.

Welcome Our New Staff Members!
We're pleased to ring in the new year with three new staff members. From left to right, we have Grant Branson as a tax season intern, Will DeClercq as a Senior in the Audit & Assurance Services department and Andrew Albertson as a tax season intern. Please join us in welcoming them aboard!

IRS Launches New Form to Report Non-Employee Compensation

Heads up for a change in how non-employee compensation will be reported for 2020. The new Form 1099-NEC will be used to report those payments while the original Form 1099-MISC will now narrow its focus on royalties, healthcare payments and other business-related payments not made directly to an individual. When filing electronically, the deadline for Form 1099-NEC is January 31 while the deadline for Form 1099-MISC is March 31.