December 2022 - Wiss & Company, LLP

Part 5: Invest in Change Management

Written on December 22, 2022. Posted in Technology.

By Luis Vargas Once you lay out the specific aspects of the investment—which initiative to prioritize, how to measure success, who will lead the project and how much customization is needed—you can shift focus to your employees and your strategy for guiding them through the future change. Managing change throughout the lifecycle of your initiative will be critical to creating a culture of innovation and securing ROI. There are five phases of change management—as you strategize how...

The Christmas Escape of 1854

Written on December 22, 2022. Posted in Wiss Gets Personal.

By Amanda Bowra Christmas Eve, 1854. At just 32 years old, runaway slave Harriet Tubman braved capture, torture, and death to return to her home in Maryland to rescue three of her brothers, Ben, Henry, and Robert from slavery. The brothers had attempted to escape with Harriet in the past, but unable to bear leaving their wives and children, they turned back to face their punishment. Now five years later, Harriet got news that the brothers were to be sold to new owners immediately...

2022 Year-End Tax Planning for Individuals

Written on December 22, 2022. Posted in State & Local Tax Services, Tax, Tax Alerts.

By Nicole DeRosa With rising interest rates, inflation and continuing market volatility, tax planning is as essential as ever for taxpayers looking to manage cash flow while paying the least amount of taxes. As we approach year-end, now is the time for individuals, business owners and family offices to review their 2022 and 2023 tax situations and identify opportunities for reducing, deferring or accelerating their tax obligations. The information contained within this article is...

Deadline Extended for NJ ANCHOR Program

Written on December 20, 2022. Posted in Uncategorized.

By Karin Ecroyd The deadline to file the Affordable New Jersey Communities for Homeowners and Renters (NJ ANCHOR) program benefit application has been extended to January 31, 2023 (originally December 30, 2022). Payments will start going out late Spring 2023! Earlier this year, New Jersey enacted the ANCHOR program which aims to put some cash back into the pockets of New Jersey homeowners and renters, and serves as a replacement for the Homestead Benefit with a broader application....

Stop Trying to Be Goliath – Be David Instead

Written on December 20, 2022. Posted in Uncategorized.

By Paul Peterson What a Final Game! As many of us suffer withdrawal from the World Cup, I am hoping that this post with the USA Soccer Federation as our “Lab Study” will help us in our own businesses as we close out 2022 and look to the future. We can agree that many people believe the best way to succeed in business is to “Get Bigger”. In some cases, absolutely, economies of scale matter to execute the strategies of companies like Amazon and WalMart. But, often, as in the case...

2022 Year-End Tax Planning for Businesses

Written on December 19, 2022. Posted in Tax.

By Nicole DeRosa U.S. businesses are facing pressure to drive revenue, manage costs and increase shareholder value, all while surrounded by economic and political uncertainties. Disruptions to supply chains brought about by the pandemic have continued into 2022. Inflation and rising interest rates have made the cost of debt, goods and services more expensive and cooled consumer spending. The stock market has declined sharply, and the prospect of a recession is on the rise. What’s...

Is Your Mission Working? Let’s look at the data

Written on December 13, 2022. Posted in General Business, Wiss Gets Personal.

By Paul Peterson In my previous post, I listed two missions without naming the organization they related to and asked you which one resonated more with you. Below are the actual ones with the entity included. Mission Statements USA Basketball sets out to encourage a culture of “basketball for life,” where whether as players, coaches, officials, or fans of the game, people will be inspired to continue their participation in the game in some way throughout their whole life. The Federation’s...

Part 4: Carefully Consider Customization

Written on December 12, 2022. Posted in Technology.

By Luis Vargas Every business has unique needs, and it can be tempting to customize existing software solutions to meet those needs precisely. However, customization requires specialized coding skills and, in some cases, custom implementation, which can cause a cascade of challenges. Further revisions will require more code; future releases could be impacted, necessitating even more code. If the customization impacts the software’s functionality, the vendor is typically not responsible...

Driving Growth with a Business Process Review

Written on December 12, 2022. Posted in General Business.

By Paul Ursich When a company is laser-focused on growth, it can take time and effort to analyze business processes. But when problems arise — or significant organizational changes occur — taking a hard look at strengths and weaknesses is often the best way to light the path forward. The reasons that a company might decide to do a Business Process Review are manifold. The CEO may be looking for help optimizing processes for compliance assurance, finishing an audit, or completing...

Customer Experience and the USA National Soccer Team

Written on December 8, 2022. Posted in General Business, Wiss Gets Personal.

By Paul Peterson It was a damp and grey Thursday afternoon on June 14, 1990. I convinced a college buddy of mine to join me in rushing to a bar in downtown South Orange as soon as class finished to watch the USA National Soccer team take on heavily favored Italy, in the host country of Italy, no less. Of course, beers would have to be on me. I played soccer my whole childhood, and this was the first time at the age of 19 that I would watch the USA team in a World Cup. American soccer...

Part 3: Find Your Innovation Champion

Written on December 7, 2022. Posted in Technology.

By Luis Vargas You’ve selected your project and you’ve lined up your KPIs. Now it’s time to drive that project forward and over the finish line. But how? It’s all too common for IT initiatives to get bogged down in bureaucracy, inertia, and poor communication. To overcome those obstacles, you need someone who can pilot the project from beginning to end. You need someone who can craft and share a vision of what the initiative will do, respond to objections, and break through stumbling...

Part 2: Measuring Success – Understanding the Project’s Key Variables

Written on December 1, 2022. Posted in General Business, Technology.

by Luis Vargas You’ve put time and effort into selecting the right IT project—naturally, you want it to be successful. But what does “success” really mean? Without a clear definition, knowing when and if your project is truly successful is impossible. Clear, measurable targets, also known as Key Performance Indicators, or KPIs, are critical because they provide data that helps you track your progress. Good KPIs help evaluate the success of a particular activity and even help you...

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Month: December 2022