Fall is around the corner, making September a great time to take a closer look at the financial health, security, and preparedness of your business. This month, we're covering a few topics that every business owner should have on their radar—from changes in how certain tax strategies are being scrutinized to the financial reports that can reveal what’s really happening inside your business.


We’re also sharing practical ways to protect your company from costly scams and prepare for the unexpected. Keep scrolling for insights that can help you make more informed decisions and strengthen your business for the months ahead.

Firm News and Updates

Charles Returns to the Nürburgring and Spa

This month Charles returned to Europe for a second “once-in-a-lifetime” driving adventure at two of the world’s most celebrated racetracks. After flying into Frankfurt, he traveled through Germany and France before arriving at the Nürburgring for two full days of driving on the legendary Nordschleife. Charles was part of a group of 28 drivers, most of whom were experienced racers, racing instructors or driving coaches. As one of the group’s few true novices, he was sharing the track with drivers possessing considerably more racing experience—what better way to learn?



This time, Charles drove a Toyota Supra supplied by RSR Nürburg—the same model he tracks at home. The Nordschleife’s 13 miles of blind corners, dramatic elevation changes and constantly changing conditions make every lap a new challenge. Charles approached the track as he does events in the States: concentrating on driving smoothly, staying safely within his limits and enjoying the experience rather than chasing a lap time. 

After two days at the Nürburgring, Charles drove through Germany’s scenic Moselle wine country on his way to Belgium. His final track day was at Spa-Francorchamps, where he drove the historic Formula 1 circuit. Spa combines high speeds with dramatic elevation changes and such famous sections as Eau Rouge and Raidillon.


The trip was not limited to racetracks. Charles drove from Frankfurt to Baden-Baden and Colmar, France, before continuing to the Nürburgring. He also enjoyed a very spirited day with the group, driving winding roads through the Moselle region on the way to Spa. Along the route, he passed historic towns, vineyards and mountain scenery—all while working hard to keep up with the group.


Even the trip home became an adventure when his flight from Frankfurt experienced mechanical trouble over England and returned to Frankfurt, delaying his return by a day. Despite that unexpected ending, the trip provided another memorable combination of driving, travel and some of Europe’s most beautiful scenery. 

Pictured above - Mini train in Colmar France, vineyard parking in Moselle, driving on the mini-carousel in Nurburgring, and Charles taking in the gorgeous views in Moselle.

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News and Information

We are transitioning from Net Client CS to Smart Vault portals. Active clients should register using the email invitation you received. All current information will be available in Smart Vault, with historical documents transferring over the next several weeks.


If you have any questions, please contact our office.

 

The IRS Is Cracking Down on “Creative” Tax Strategies—What It Means for You

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A tax strategy may check all the technical boxes—but that doesn’t necessarily mean it will hold up under scrutiny. The IRS and the courts are taking a closer look at the business purpose behind certain transactions. If you use or are considering a more complex tax strategy, there are some important questions you should be asking.


Read more to learn what this shift could mean for your tax planning.

Three Financial Reports Every Business Owner Should Understand


You don’t have to be an accountant to learn valuable information from your financial statements. A few key reports can help you understand profitability, financial position, cash flow concerns, and whether customers are paying on time.



Discover the three reports every business owner should know—and what to look for when reviewing them. Read More

Could You Spot a Fake Business Invoice?

It looks legitimate. The company name seems familiar. The invoice says it’s overdue. Would someone on your team pay it without asking questions?

Fake invoices and fraudulent payment requests can be surprisingly convincing, and one quick payment could become an expensive mistake. A few simple procedures can make your business much harder to fool.


See the warning signs and safeguards that can help protect your business.

Read More.

Is Your Business Prepared for an Emergency?

What would happen if your business couldn’t operate tomorrow? An emergency doesn’t have to be a major natural disaster—a power outage, cyberattack, equipment failure, internet disruption, or inaccessible office can quickly interrupt normal operations.

A little planning now can make a significant difference when something unexpected happens.


Find out which areas of your business should be part of your emergency preparedness plan.

Read More

 

Video: The Importance of Two-Factor Authentication

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Tzinberg & Associates, P.C.

1 Country Club Executive Park Glen Carbon, IL 62034