December 19, 2022
Published by 
Dan Isard on December 19, 2022
Dan Isard on December 19, 2022As a new business owner, the first decisions you must make involve taxes. In most cases, however, you will feel so elated during your first days of ownership that you’ll just abdicate those decisions to your accountant and/or lawyer. Then, someday in the future, you will read an article, like this one, and wonder to yourself, “Hmm…” You therefore clip the article and send it to your accountant and/or lawyer. They, in turn, give you a long-winded explanation as to why the author of that article is wrong. Or, worse, they will write to the author and tell him why he is wrong. Please, save your breath and your typing fingers. I am not wrong. Here are the taxation basics you need to know. Decision One: Business Entity There are several ways businesses can be classified for tax purposes. The […]
November 21, 2022
Published by 
Gabriel Ngo on November 21, 2022
Gabriel Ngo on November 21, 2022Pricing is always a hot topic. When it comes to vendors setting pricing for items such as caskets, do you have to accept their price structure, or can you make changes as you see fit? Gabe Ngo provides his insights on this important topic. Question: Do I have to accept the prices the casket vendor set? Gabe Ngo: The short answer is no, you do not have to accept the casket vendor’s pricing they set. There are so very many angles in answering this question, but I will keep it grounded and simple. Often times historically, owner-operators have not always made pricing changes to reflect the “October 1st” pricing changes that have typically come from Batesville or Matthews annually. However, over the past fifteen to eighteen months or so, funeral home owner-operators have seen a variety of “temporary surcharges” (which […]
November 21, 2022
Published by 
Jared Tanke on November 21, 2022
Jared Tanke on November 21, 2022Have you ever wondered what to do if your property/real estate value is worth more than the actual value of your business? This is actually a common occurrence and a question we are often asked to provide guidance on. Our Senior M&A Analyst, Jared Tanke is back to provide informative insights and various scenarios. Question: What should I do if my property/real estate is worth more than the value of my business? Jared Tanke: I have heard this question much more frequently over the past few years as property values have appreciated at an exponential rate, and it’s a fair question. In last month’s Ask the Analyst, Jarod Bernat answered the question about the difference between valuing real estate as “highest and best use” and “Special-use” which goes hand in hand with this month’s question. There are a few different […]
November 21, 2022
Published by 
Chris Cruger on November 21, 2022
Chris Cruger on November 21, 2022It is absolutely essential for those looking to thrive in the profession today. It’s that time of year again – time to close out the old one strong and get the bricks in place for a solid 2023. We’ll talk about the planning process and 10 simple steps to get you on your way, but first, there are some areas requiring a little extra-special attention in 2022, areas of critical importance be-cause the profession is not keeping pace with the world around it. From 2017-21, the average price of a funeral has increased 6.6%, while the CPI (Consumer Price Index) increased more than 16%. This scenario is not sustainable. There are forces in play today that require you to be at the top of your game. Rising costs, the cremation rate and rapidly changing consumer attitudes require a well-thought-out plan. […]
November 21, 2022
Published by Dan Isard on November 21, 2022
Dan Isard on November 21, 2022Recently, a new cemetery client asked me to help repurpose a Master Plan. For those of you who are not regular readers, a Master Plan is the long-term plan for your undeveloped areas and maybe any developed areas that have not been sold or interred into yet. Good consultants usually answer a question with a question. My reply was, “If you had a restaurant, would you only have a few items on the menu, or would you try and provide variety?” Most cemeterians are limited in their mindset. Natural Burial is a viable and profitable option that may work. What Is Natural Burial? Well, it is basically a Kosher burial option, where the body is not embalmed with caustic materials. But that is the very limited interpretation. This can be conjugated to include a container holding the body that must […]