February 16, 2023
LEADERSHIP: VISION AND PERSEVERANCE

By Jason Thompson, CPA/ABV, ASA, CFE, CFF
Partner, Director of Valuation and Litigation Services

Many business owners may believe they are good managers, but they often become frustrated that the progress and success they are seeking is only experienced by other owners of enterprises. They may toil investing many hours in their respective business operations, but that “next level” is fleeting to them.

One possibility may be that they are managing their business well, but they are not demonstrating the leadership to attain what they seek. In his book, The E- Myth, Michael E. Gerber refers to this in another way: You should be working on your business more than you work in your business!

EMPOWER AND DIVERSIFY YOUR TEAM

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

Given the hundreds of home runs he hit, you might not think legendary baseball player Babe Ruth would value teamwork. But he said: “The way a team plays as a whole determines its success. You may have the greatest bunch of individual stars in the world, but if they don’t play together, the club won’t be worth a dime.”

Listed below are some ways to strengthen your team and steer your business toward success.
EMPLOYEE SPOTLIGHT: RYLIE BURCH

Initially a tax season intern in January 2022, Rylie Burch joined the Sponsel team full time in August of 2022. Rylie earned a bachelor’s degree in accounting and economics from Ball State University, and we are excited that she has become a member of our service teams.

As an Audit & Assurance and Tax Services staff member, her duties include audits, reviews and compilations as well as federal and state tax filing, including compliance and planning for clients across a broad spectrum of industries. We appreciate the enthusiasm and “can-do spirit” she brings to the workplace.

New Interns!
We want to give a warm welcome to our interns — Madi Sparkman, Kaitlyn Hewitt and Nathan Freeman (pictured left to right). We greatly appreciate their help, especially as we enter this particularly busy time of year. We are hopeful that this real world experience will allow them to see the many benefits of working in the public accounting profession surrounded by a great team.
Update on the Indiana Pass-Through Entity Tax Bill (SB-2)
 
Earlier this month, we sent out an e-blast regarding a proposed Indiana bill (SB-2) on pass-through entity level taxes. This would be a benefit to owners of pass-through entities. If the bill is passed as currently drafted, the legislation will likely result in pass-through entities operating in Indiana (and their owners) having to extend the filing of their 2022 tax returns. However, the bill is still moving through the legislative process — on a fast-track basis — but we will keep you updated. For more information about the bill, click here. 

Our Annual Tax Pocket Guide

We have updated our annual Tax Pocket Guide, which provides a quick reference of current tax rates and a multitude of Internal Revenue Service and other tax information in a condensed, easy reference series of tables. View our Tax Pocket Guide for 2023.