My Business Was Served with a Subpoena. What Should I Do?
Do not panic. Be prepared in advance to ensure you move through this process with ease. Receiving a subpoena does not necessarily mean you or your business are in trouble. Sometimes you may have information that is relevant to another lawsuit. There are times, however, that you or your business may be the subject of an investigation, and responding without legal advice can put you or your business in jeopardy. So, take this seriously and follow the steps below to make sure you are covered.
What is a Subpoena?
A subpoena requires either producing documents or for an individual to appear in a legal proceeding.
When is a Subpoena Served?
While subpoenas are typically served without warning, having a process in place for receipt and review can minimize any disruptions to you or your business. Pay close attention because subpoenas will detail what needs to be produced and the deadline.
Click here to read more about the appropriate steps to take when receiving a subpoena and what questions you should ask your attorney.
Tech Savvy GL Employees
We’re always on the prowl for ways to do business (and life!) better, faster, and more enjoyable. So, we turned to our own team members to see what tech/apps make their lives easier and more efficient. Here are a few of their awesome suggestions . . . .
Christy Zeyer – Paralegal – I have so many. Waze for directions; Whova for remote conventions; Spotify for music; RoboForm for password management; Wyze for economic video camera monitoring; I also love to read about the American Bar Association TechShow.
Sharon Means – CFO – I like Any List which is an app of lists. I use it mostly for groceries, meal planning, or packing. I also like Expensify, which we use at the firm to document purchases and expenses.
Melissa Shy – Paralegal – I don’t have more than four apps on my phone! However, if forced to pick one I would pick two for two very different reasons: Adobe Fill and Sign: This app is great for signing documents on the go. And, Facetime, for psychological reasons I find interesting. Does it bring people together or enable the life of an introvert? There is a lot to be learned from in-person interactions such as eye contact, personal space, and so on, but at the same time, it allows for people to connect on a different level.
Michael Beardsley.Esq – Associate Attorney – Calendars by Readdle. It has more power than the standard calendar app on iPhone. It allows more customization regarding repeated events (when/how often they repeat).
Max Julian, Esq. – Partner – Snipping Tool, a Microsoft utility included in all versions of Windows since Windows Vista, can capture still images of open windows, rectangular areas, free-form areas, or entire screens, at the user’s discretion. Snipped images can be annotated with various tools (highlighter, pen, typewriter tool, etc.) and stored as image or MHTML files. Snipping Tool is extremely useful for not only quickly and accurately capturing information, but also for preparing document excerpts, images, or other graphical materials for exhibition. In practice, for example, I would use Snipping Tool to capture actionable website content before the recipients of demand correspondence regarding the content have an opportunity to de-publish it.
M&A Among CPA & Accounting Firms: 2022 Trends
“Upward mergers,” or smaller CPA firms merging into larger firms, reached record levels in 2021, and the trend has continued into 2022. The desire of small- and mid-size CPA firms to expand their advisory services, a shrinking professional pipeline, and the increasing cost of tools have fueled the increase in upward mergers. However, The CPA Journal notes that the 2021 growth rate of mergers and acquisitions was uneven. Firms with net fees greater than $20 million saw merger growth decrease by five percent. In comparison, firms with net fees of $5-10 million saw a five percent increase, and firms with net fees of $2-5 million saw a dramatic 53 percent increase.
Why Merge Upwards?
The Rhode Island Society of Certified Public Accountants interviewed some of its members about the trend to merge upward and the reasons they gave are common among their counterparts nationally. The RISCPA article notes, “These days, it’s not just about tax returns and audits. Clients are looking for consulting services, wealth management advice, and international trade and cryptocurrency expertise. A small firm would be spread too thin to provide it all.”
Learn more about why your CPA firm might benefit from merging upwards and more 2022 M&A trends here.
Active Searches with Gertsbug Licata Talent
We’re currently recruiting for several key positions! Details below.
Associate Accountant– Our client, a local CPA firm located in Northeast Ohio, is seeking an associate accountant to work with a variety of small to mid-size companies for accounting, taxation, and tax planning. The candidate must have 2+ years of experience in accounting and financial reporting as well as technology skills including proficiency with QuickBooks software and Excel. CPA is a plus.
General Manager – Luxury Pre-Owned Automotive – Our client, a premier high line automotive sales group in NE Ohio, is seeking an outgoing and energetic Automotive General Manager with a minimum of 5 years of luxury car and pre-owned experience in a Managerial role to manage and lead their sales and operations staff. Previous automotive sales, finance, accounting, and general management experience are a must with verifiable references and proven work history of success!
Are you prepared to navigate the tight labor market? Demand is picking up and it’s important to have a competitive recruitment strategy in place in order to compete for top executive talent. Contact us to discuss your executive talent needs and how our unique process can help identify and secure the right employees for your leadership team.