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Up to date, high-level business information that is relevant to our clients and contacts, helping keep up to date on the ver-changing business world of today.

Terri Braun / March 7, 2022

Recommendation for Kaz Unalan of GBQ

To whom it may concern:

I would like to take this opportunity to write a letter of recommendation for Kaz Unalan. Based in Columbus Ohio, Kaz Unalan is the Director of Tax & Business Advisory Services at GBQ and a highly qualified and dedicated business professional who has been with the firm since 1999.

GBQ has been a top tax, accounting, and consulting firm for more than 65 years. It has grown to employ 219 associates and 103 CPAs who work out of four offices in two states, and offers services such as transaction advisory, valuation services, retirements and employee benefits, human resource consulting and much more.

Kaz strives to provide exceptional service to each and every one of his clients. He is kind, friendly, and easy going, greeting everyone he meets with a smile and getting along with everyone. He takes great pride in the service he provides for his clients and it’s easy to see how passionate he is about what he does and helping those around him.

Not only does Kaz provide great service, but he is also a proud member of his community. He currently sits on the board for Habitat for Humanity – Mid Ohio, and has supported organizations like the Mirolo Foundation, Columbus Landmarks Foundation, Young Buckeyes of Central Ohio Alumni Club and Ohio League of Conservation Voters in the past.

I highly recommend Kaz Unalan at GBQ to anyone looking for tax compliance and consulting services. With Kaz, you can rest assured knowing you are going to get sound, solid advice from an industry professional that truly cares about his clients.

Sincerely,

Jim Lichtenberg
Strategic-Partner
Schooley Mitchell

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Terri Braun / March 7, 2022

Recommendation for Michelle Roseberry at HBK

To whom it may concern:

I am more than happy to write this letter of recommendation on behalf of a true asset to the business world, Michelle Roseberry. Michelle is the Principal-in-Charge of the Columbus, Ohio offices of HBK CPAs & Consultants and has been with the company since 2015.

Established in 1949, HBK serves clients ranging from individuals to small businesses to multimillion-dollar corporations across the United States through its offices in four different states. It specializes in a wide variety of tax, accounting, assurance, and business consulting services.

Michelle has extensive experience in audit and accounting services in both public accounting and private companies, which she uses to provide great service to her clients. She works with individuals and small to mid-sized business owners from a wide variety of industries including, but not limited to, construction, manufacturing, and non-profit entities.

I have known Michelle for a few years now and have come to recognize her as a genuine professional in the industry. She is deeply knowledgeable, intelligent and a true pleasure to interact with. She greets you with a smile and lights up every room she enters. Michelle goes above and beyond for those around her and is always happy to help out when she can.

I confidently recommend Michelle Roseberry of HBK CPAs & Consultants to anyone that is looking for audit or accounting services on which they can rely. With Michelle and the team, you can count on great service from a team that cares about their clients and wants to see them thrive.

Sincerely,

Jim Lichtenberg
Strategic-Partner
Schooley Mitchell

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Terri Braun / March 7, 2022

Featured Client Freetail Roofing

hubbard-logo-freetail-roofing

With over 20 years of experience, Freetail Roofing provides quality commercial and residential roofing services to the people of Austin, Texas. This includes, but is not limited to, repair, installation, inspections, replacements, and coatings.

Cal Wilson / March 7, 2022

Recommendation Letter for Cookie Drop

To Whom It May Concern:

If you have never opened your front door to fresh, homemade cookies, you have not truly lived!  Fortunately, Cookie Drop in Erie, PA can help you live a sweeter, more fulfilling life!!!

Cookie Drop is a unique dessert shop, delivering fresh, homemade cookies anywhere in Erie County.  The menu changes weekly with their cookie selection coinciding with the season. During Christmas you can find distinctive flavors like eggnog and hot chocolate and during Mardi Gras, they offer selections that include king cake praline pecan or sugar masquerade masks.   Opening their (oven) doors in January 2021, Cookie Drop found an opportunity to offer a special service during the height of the COVID pandemic using an unconventional business model.  For only $5, you can purchase six homemade cookies, and have them delivered anywhere in Erie County, PA! They deliver on Wednesdays and Fridays and ordering is as easy as sending a text message and making a payment via PayPal – it’s incredibly simple!

My family received cookies from Cookie Drop in the fall of 2021 and we immediately fell in love with their cookies and service.  I now utilize Cookie Drop as a thank you for my clients and professional contacts I meet with.  I have received so many compliments about how thoughtful and delicious the treats were and I have yet to find a better way to help forge a stronger relationship!

I’m grateful that Cookie Drop created such a sweet business during a very bitter time! If you want to deliver the feeling of importance to someone you know, I highly recommend you text Cookie Drop at 814-420-6065 and have them deliver cookies for you; you will not be disappointed (and neither will your recipient!).

Yours truly,

Adam Baker

Schooley Mitchell

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Cal Wilson / March 3, 2022

Gas prices are climbing. What can your business expect to see reflected on its fuel bill?

It doesn’t come as a surprise to anyone that when prices are climbing, gasoline is included. Experts are divided as to whether gasoline prices are going to keep increasing, or finally drop. In this article, we look at the state of gas prices, and what your business can do to help reduce your fuel spend.  

Gas prices are at a record high.  

As of February, gas prices are the highest they’ve been since September of 2014, with no immediate prospects of relaxing. In the United States, gas prices are nearly a dollar higher per gallon than they were in February of 2021.  

In fact, conditions are so grim that head of petroleum analysis at GasBuddy, Patrick DeHaan, believes ”the national average could be pushed to record territory by the start of the summer driving season.” 

The rates in Canada are much the same. For example, Metro Vancouver saw gas prices hit a record high in January, with prices reaching 176.9 cents per litre. In Newfoundland & Labrador, residents are comparing gas prices to a second mortgage.  

And while demand is also falling across the continent for consumers, hopefully leading to an eventual decline in prices, this does little in the meantime for the businesses who rely on motor fuel for their daily operations.  

This is abnormal for winter months.  

The surging prices across winter months, in colder regions, has been especially surprising.  

As explained by the publication Money, in colder months, “gas stations generally switch to a different blend of fuel that is more suited to colder weather. Because that winter blend is cheaper than the fuel blend sold in the warmer months — and because the demand for gas also tends to decrease when the weather is colder since fewer people are traveling — the price of gas usually falls at this time of year.” 

What is behind the climb in prices? 

Oil industry struggles at a global level are part of the reason prices are so high. Conflict in oil producing regions, COVID-related restrictions impacting the industry, and supply chain issues all account for these struggles.  

Likewise, in mid-February, the Energy Information Administration reported declines in inventories of both crude oil and petroleum, despite gasoline reserves being on the rise. Why does this matter? Well, 52% of the retail price of gasoline is based on how much the wholesale crude oil costs.  

 “As long as the price [of] oil remains elevated, consumers will be feeling it at the pump,” said AAA spokesperson, Andrew Gross in a statement. 

Now is not the time to be lax with your fuel spending.  

While different experts have different predictions for the price of gas in coming months, your business needs a more concrete strategy to save than hoping costs will come back down. Whether prices are going to rise more or finally fall during the coming months, your business should be prioritizing optimizing this spend where possible.  

Let’s look at a few different strategies you can use to bring down your gas spend.  

Fleet cards.  

A fleet card (or fuel card) is a type of payment card that allows for easy management of expenses associated with company-owned vehicles. Fleet cards are designed to be used specifically for expenses related to managing vehicles. Businesses such as trucking companies, ridesharing services, or delivery providers will often issue fleet cards to employees who use and operate corporate vehicles. This helps to cover fuel, vehicle repairs, and maintenance expenses.  

Fleet cards will help your fuel spend in the following ways: 

  • Accurate records and flexible reporting – fleet cards enable owners/managers to stay informed of all business-related expenses via real-time purchase reports. 
  • Spending history and budget control – because each fleet card is linked to an individual employee, a business can use their transaction information to monitor spend efficiency and fuel consumption, potentially reducing overall company fuel expenses and allowing for more accurate budgeting estimates.  
  • Fuel discounts – many fleet cards that are currently on the market offer additional fuel discounts and regular promotions. 

Fleet cards are also accepted at most gas stations, so your drivers will be able to fill the tank when and where they need to.  

Route optimization. 

Route optimization is a solution offered by several providers which uses software to determine the most cost-efficient route for a vehicle or fleet of vehicles. A good provider’s solutions will factor in every variable that could affect a driver’s route, including, but not limited to: 

  • Number and location of stops 
  • Number of deliveries 
  • Time windows 
  • Number or turns and intersections 
  • Traffic patterns 

This is difficult work for a computer to do, let alone a human brain. As Verizon puts it, “[w]ith just one vehicle and 10 stops, the number of possibilities is 3,628,800. But if you have a fleet of five vehicles, that number jumps to a whopping 37,267,043,023,296,000. This is why route optimization is mostly performed by computer algorithms and advanced heuristics that can quickly narrow down the options.” 

Optimizing your fleets’ routes means less time driving, reduced fuel costs, and increased productivity. All of these things improve your bottom line and make the job easier on your drivers.  

Best driving practices.  

While it seems mundane, keeping your drivers up-to-date on best driving practices can also help save on fuel. A change to everyone’s day-to-day habits may not have an immediate effect, but over time, it will result in less fuel wasted.  

In fact, according to the Government of Canada, adopting fuel-efficient driving techniques can “lower your vehicle’s fuel consumption and carbon dioxide emissions by as much as 25%.” 

The government’s five main tips for fuel efficiency are: 

  1. Accelerate gently 
  2. Maintain a steady speed 
  3. Anticipate traffic 
  4. Avoid high speeds 
  5. Coast to decelerate  

Other practices to consider implementing include: 

  • Reducing time spent idling – make it a habit to turn off your engine if you’re stopped out of traffic for more than 60 seconds. 
  • Keep an eye on tire pressure – underinflated tires can increase fuel consumption up to 4%!  

In conclusion… 

Right now, there’s very little we can do to control or predict the price of filling up our tanks. However, business must go on. The best thing businesses with fleets can do is be aware, and practice other strategies to help reduce their fuel spend.  

Cal Wilson / March 3, 2022

Telemedicine provides significant cost reduction opportunities for healthcare practices.

Almost everyone has had experience with telemedicine in the past few years, whether as a practitioner or  patient. This technology is lifesaving when in-person healthcare visits are not an option.

However, not every healthcare provider has tapped into the potential of telemedicine. When considering whether to implement telemedicine into your business model permanently, cost reduction opportunities should absolutely be a consideration.

Telehealth experienced a rapid boom.

Some technologies gradually evolve an industry, but due to the COVID pandemic, telemedicine services saw rapid adoption, starting 2020. Providers like Teladoc and Amwell saw their businesses roughly double from 2019 to 2020.

By 2028, the telemedicine market is projected to reach over $636 billion. As you can imagine, this trend is disrupting the traditional models of medical practices, offering both expenses and savings opportunities.

5G is making telemedicine more accessible, too.

The recent roll out of 5G networks has brought new opportunities to the already expanding industry. Marc Fischer of Dogtown Media LLC told Forbes that one of “5G’s greatest potential is in enabling the Internet of Things and disrupting healthcare. For example, with IoT-connected medical devices, diagnostics and monitoring enabled by lightning-speed 5G, industries such as healthcare will take on a completely new look and feel.”

Practices are looking for a hybrid model.

Business Insider spoke with many hospital and clinic administrators, who the publication reported were largely in favor of a hybrid model of practice; one that combines virtual and in-person appointments.

While for some doctors, telemedicine doesn’t make sense with their specialty, many others see it being permanently integrated into their practice. Specifically, telemedicine solutions have seen widespread popularity in radiology, cardiology, online consultation, and behavioral health.

No matter how much a hospital or clinic looks to use telemedicine going forward, price is a consideration. Especially when these practices aren’t always sure who will footing the bill.

Billing still isn’t clear.

During the earlier days of the pandemic, many insurance companies agreed to reimburse virtual visits in the same way they would in-person services, on a temporary basis. While some countries have introduced legislation to make this more permanent, it is still not always clear if telemedicine will be deductible, and in what cases.

What is covered by insurance tends the dictate the services people use, and so reimbursements change or are cut off for telemedicine, the industry, and its huge projections, may be set back significantly.

Another setback is concern regarding fraud.

Fraud is prevalent in telemedicine.

In October of 2020, the United States Department of Justice identified a healthcare fraud scheme that included $4.5 billion of fraudulent claims made through telehealth. More recently, another $143 million was found to have been fraudulently billed, with the majority coming from telehealth providers.

According to Quartz, the majority of the scammers aren’t patients or healthcare providers, but telemedicine executives.

The startling fraud statistics are part of the reason some insurance companies may be hesitant towards permanently changing their coverage to include telemedicine.

Telemedicine is good for business.

For practices looking to continue with telemedicine, if it makes sense for their patients, it could represent significant savings opportunities.

According to OrthoLive, one telemedicine provider, the cost to the provider for of a telehealth appointment is significantly reduced compared to a traditional visit. Averages suggest that:

  • The approximate cost of an emergency room visit is $1,734.
  • The approximate cost of a traditional on-site doctor visit is $146.
  • The approximate cost of a telehealth visit is $79.

Likewise, the University of Pittsburgh Medical Center found they save $86.84 every time a primary or urgent care visit is conducted via telehealth, rather than on-site.

No matter what you think, telehealth has operating costs.

Like anything, there are fees behind implementing and maintaining telemedicine services. OrthoLive says across the healthcare industry, depending on specialty, the devices needed to implement telehealth can range up $10,000 per site, and a few hundred dollars per month per provider.

Like other web-hosting or data storage services, practices can choose to install telemedicine hardware and software on site, or pay monthly for Software-as-a-Service (SaaS). It also necessitates a strong and reliable internet connection and, likely, a compatible phone system.

Further savings from the statistics provided above can likely be found if your business is optimizing its telecommunications costs.

In conclusion…

Healthcare providers have become increasingly reliant on telemedicine services to reach their patients. With the industry projected to grow, and the potential for business savings so significant, now is a great time for practices to look into how they can optimize their spending.

Terri Braun / March 3, 2022

Recommendation Letter for In Harmony Dance and Wellness

To Whom It May Concern,

I am very pleased to write this letter in recommendation of a great company, In Harmony Dance and Wellness in Newmarket Ontario. It provides a variety of dance classes to foster friendships, fitness, and fun.

Located in Newmarket, Ontario, In Harmony Dance and Wellness believes that a healthy, well-rounded life starts with a strong foundation of physical fitness, discipline, confidence and respect. They help create this foundation by offering high-quality ballet, contemporary, jazz and hip-hop classes, among many more.

Since 2005, In Harmony Dance and Wellness has fostered a family-like atmosphere in their studio. The entire team of instructors is highly trained and accredited and are passionate about dance in all forms. Owner Leah Anna Sanguinetti is an all-round dancer, teacher, choreographer, and studio director. She is certified in both competitive and recreational programs in Jazz, Acrobatics, Ballet, Lyrical, Modern, Hip Hop and Musical Theatre at many studios throughout the province.

With that in mind, I highly recommend In Harmony Dance and Wellness to anyone looking for an exceptional dance studio with whole body wellness in mind. You can be sure to find a class will help you develop the new and exciting skills you’ve been looking for.

Yours truly,

Stephan Lafreniere
Strategic-Partner
Schooley Mitchell

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Cal Wilson / March 2, 2022

Helping Your Team Avoid Burnout

We all feel the pressure to get as much done as possible – it’s the way we have been socialized, from school to the workplace. While productivity and hard work are necessary for a business to thrive, so too is protecting your employees from burnout, especially when they are working from home.

During the pandemic, there has been an added cultural pressure to be more productive than ever before. Whether its baking fresh bread every week, or learning a new language, we have all been asked to substitute the time taken up by our previous routine with something arbitrarily worthwhile. Many people have found this increased productivity mindset spilling into the way they work. While that extra effort from a team member is great, it’s also your job as a leader to make sure they don’t burn themselves out.

Think about your team. Who is doing more than usual? Who is volunteering for more than you suspect they truly have the time to complete? Who is taking less time for themselves? Call it Type A, workaholism, or ‘toxic productivity’ – call it whatever you will, but make sure it’s being addressed.

One of the main problems with this compulsive productivity mindset is that it can be fueled by guilt. Employees prone to this behavior may be experiencing a sense of guilt and insecurity for not having done more. Setting impossible standards for productivity, and feeling shame when those are not completed, can also lead to a perception of self-failure, even when the opposite is true.

This burn-out inducing pattern can lead to poorer quality of work, irritability, fatigue and exhaustion, lack of engagement, anxiety, and even physical illness. You care about your employees’ wellbeing, and want to retain talent; advocating for your team before they reach this point is just one of the many ways you can show your strong leadership.

Foster a culture that acknowledges the importance of downtime.

Even if your team insists on jumping from one project to the next, ensure they know they can and should take the proper time to care for themselves, especially outside of work hours.

Lead by example when it comes to self-care. Share with your employees how you prioritize your time off, and take some of the guilt away from the prospect of them completely removing work from their Saturday vocabulary. Make the expectation clear that engagement is important during work hours, and detachment is encouraged outside of that time.

A lot of the time, employees who are prone to ‘toxic productivity’ are anxious that it is required to keep in good standing with their manager. You can nip that in the bud by assuring them that this isn’t the case. Be enthusiastic and acknowledging of their accomplishments and deliverables, not the fullness of their schedule.

Listen.

It’s easy to preach self-care and work-life-balance, but it’s harder to know how your advice is being put to task. Maybe some aspect of your expectations for a team member is preventing them from feeling able to relax outside the workplace.

If you notice an employee struggling, take the time to show concern, ask questions, and graciously accept feedback. If you can take on the role of coach or counsellor to help an employee flourish in their career, that will be hugely rewarding to you, them, and your business.

Don’t Gate-Keep Time Off.

Within the appropriate requirements of their position, allow your employees to take the time off that they need without feeling the need to defend that decision. When sick days and holiday days go unused, you have to ask yourself, does my team feel safe to ask for time off?

Especially when working from home, it can be hard to ask for a day off for something like stress or fatigue. And yet, these conditions can drastically impact the quality of work.

Being understanding, respecting privacy, and giving employees the space to choose themselves can help them develop the trust they need to prioritize themselves.

Cal Wilson / March 2, 2022

Should your business be paying for shipping insurance?

If your business ships products across country or overseas, what happens when one of those packages is lost, delayed, or damaged? As the seller, your customers are going to hold you accountable — even if it’s not the fault of your company.

One solution to this concern is shipping insurance. Shipping insurance is a service that holds shippers accountable for and protects your business against lost, stolen, or damaged packages. If an insured package is damaged or does not reach its destination, the retailer is reimbursed the declared value of the items in the package.

Shipping insurance means paying a small upfront fee, for the peace of mind that any mishaps in transit will not reflect poorly on your brand.

Your reputation is on the line.

A 2020 survey from industry expert, Convey, found that 47 percent of respondents said they’re unlikely to shop with a retailer again after a bad shipping experience.

A 2020 survey from industry expert, Convey, found that 47 percent of respondents said they’re unlikely to shop with a retailer again after a bad shipping experience.

A similar 2016 survey found that, in the case of delayed or damaged product:

  • 53.1 percent of shoppers would expect a free, expedited replacement.
  • 43.9 percent of shoppers would expect a refund or discount on shipping costs.
  • 19.4 percent would expect a coupon discounting their next purchase.

Those numbers have likely shifted somewhat since stay at home orders led to an online retail boom, but the point remains. Your money and your business’s reputation are at stake when it comes to lost, delayed, or damaged shipments.

53.1 percent of shoppers would expect a free, expedited replacement in the case of delayed or damaged product.

When do you need shipping insurance?

Shipping insurance isn’t necessary for the average person sending a parcel, unless that parcel is particularly valuable or fragile. However, in a business setting, it really depends on your frequency and volume. The more you ship, the higher the chances are of something going wrong. If your product is especially expensive, the risk increases.

If you’re doing any kind of ecommerce, shipping insurance is a necessary operating cost to protect your revenue and your reputation.

2021 shipping crises are the perfect reason to get shipping insurance.

In 2021, we have already seen one of the best motivators for investing in shipping insurance. In March, the Taiwanese container ship Ever Given became stuck in the Suez Canal, bringing global trade to a screeching halt for many industries. On May 25th, a chemical fire broke out on a container ship off the coast of Sri Lanka.

If you are shipping overseas, or even by land, there is always a possibility of an accident or disaster leading to product destruction or delay. The events of the first half of 2021 might make you pause and consider investing in shipping insurance, or reviewing your existing coverage.

Cost is a consideration.

Across all major carriers, the rates are determined by the value of the shipped item.

ShipBob provides a helpful overview of the price comparisons for UPS, Fedex, and USPS. Both Fedex and UPS offer free coverage for packages up to $100, with rates increasing from there. However, UPS has a $2.70 insurance minimum, so the value of the shipped product must be at least $300 to qualify for UPS shipping insurance.

If you’re using a different provider, be sure to do your research and see what options you can use to your advantage. Likewise, there are third-party shipping insurers that are often less expensive than the shippers themselves.

As with any business expense you take on, do your research and consult with industry experts.