There has been a notable increase in companies moving their manufacturing operations back to the United States, a phenomenon known as reshoring. Private equity firms have played a crucial role in this trend, investing in businesses shifting their manufacturing base. Reshoring Process in Private Equity The reshoring process in private equity encompasses three primary phases:…
Raising capital is a very challenging yet rewarding necessity for a technology and emerging growth company. The months, if not years, of bootstrapping have finally led to a capital infusion designed to propel a startup to the next level. Whether it’s a pre-seed, Series D, or anything in between, the next steps of capital and…
On April 26, 2023, FinCEN (Financial Crimes Enforcement Network) enacted its first enforcement action against a trust company. In this case, The Kingdom Trust Company (Kingdom Trust) was fined a $1.5 Million Civil Money Penalty due to BSA (Bank Secrecy Act) violations and regulation deficiencies. The Consent Order’s execution assured FinCEN’s position toward trust companies…
Avoiding an ERP implementation failure requires a cross-functional team of individuals with diverse skill sets, including business process experts, project managers, IT professionals, and end-users. Each team member brings unique perspectives, experiences, and expertise to the table, which helps ensure a successful ERP system deployment. A strong team is essential for a successful ERP implementation,…
Withum is proud to share that the Los Angeles Business Journal (LABJ) has named Steve Martini their Business Angel of the Year at their annual Nonprofit and Corporate Citizenship awards. The awards honor the nonprofit community’s incredible work and the corporate citizens and businesses that support them. Steve Martini has over 30 years of experience…
My recent blog, Top Seven Microsoft 365 Features To Modernize Traditional Work Habits, sparked a further conversation with a colleague about Microsoft accessibility and inclusion while we were finalizing some of the languages in the Teams transcription section. Now, I am pleased to expand on some of the accessibility and inclusion features included in several…
Learn how Withum helped a Bridal Manufacturer improve and optimize its e-commerce capabilities by successfully implementing and fully leveraging NetSuite’s SuiteCommerce Advanced (SCA).
Law firms are often structured as pass-through entities (e.g., partnerships, LLCs, S-Corporations) due to traditional prohibitions against practicing law in corporate form. As such, in states that conform to the federal income tax treatment of pass-through entities, law firms are not subject to state income taxes – law firm owners (e.g., partners, members, shareholders) are…
Many law firms are consumers of contract labor. This may take the form of “of counsel”, contract attorneys (e.g., attorneys hired to handle voluminous discovery requests) and other project-based support workers (e.g., bookkeeping, IT, marketing). Traditionally, the individuals rendering these services have been treated as independent contractors, per IRS guidance. In recent years, many states…