If you are looking for the best accounting firm in Pittsburgh for your small business, here are five definitive facts about the city and five sure-fire ways to find the accounting firm there that best meets your small business needs.Pittsburgh — The Most Livable City In The U.S. Pittsburgh is Pennsylvania’s second largest city, population 311,647. The seven county area surrounding the city boasts a population of 2,354,957. Allegheny County, which includes Pittsburgh, is by far the biggest and most prosperous. In these seven counties, there are over 1,000 accounting firms, 40% of which are in Pittsburgh. Over half of them cater to small businesses.In 2005 and again in 2009, The Economist ranked Pittsburgh the top most livable city in the United States. In 2007, Pittsburgh claimed the number one spot in Places Rated Almanac. In 2010, both Forbes Magazine and Yahoo! had Pittsburgh at the top of their lists. Entrepreneur Magazine ranked Pittsburgh as one of the best for entrepreneurs.Pittsburgh –The City Of Bridges. Pittsburgh is the world record holder for bridges with 446 of them contained entirely within the city limits. These bridges cross the Allegheny River from the northeast and the Monongahela River from the southeast to form the Ohio River and the Downtown area of the city known as the Golden Triangle. They link the city to the four areas surrounding it, namely the North Side/North Hills, the South Side/South Hills, the East End and the West End. Four interstates (I-376, I-79, I-279 and I-579), known to Pittsburghers as the Parkway East, the Parkway West, the Parkway North and Crosstown and two major expressways (Route 28 and Route 22) connect 237 boroughs and 202 townships with each other and with Downtown Pittsburgh.Most of the larger accounting firms serving Pittsburgh’s major corporations are in Downtown Pittsburgh. However, virtually all of the accounting firms serving the city’s ever-growing small business population are located in the areas north, south, east and west of the city. These firms serve small businesses in Pittsburgh and Allegheny County and also offer their services to the other six counties that make up the Greater Pittsburgh Area. The small business accounting firms in these areas have deep-seated ties to the community, the people and the businesses residing there.Pittsburgh — A City Transformed. Thirty years ago, Pittsburgh was a dirty, smoky steel town, known as the Steel City, because of its predominance as a mighty steel-making hub. When that industry collapsed and Pittsburgh lost its manufacturing base, its blue-collar workers and corporate giants like Westinghouse, Gulf Oil, Koppers and Rockwell International, the city faced its first economic crisis in more than a century. To its credit, though, the city transformed like none other in the country and emerged twenty years later as a thriving white-collar metropolis.Today, Pittsburgh is still a steel city. US Steel, the 10th largest steel company in the world, is headquartered there. Allegheny Technologies, a world-class steel maker, has eight manufacturing plants in the region. The city still employs 7,000 steel workers and another 12,000 in the primary metals sector. Though the area lost 100,000 manufacturing jobs in the last 30 years, that sector is still one of the biggest contributors to the region’s economy. What changed is how diversified that sector is now. Cutting-edge companies in life sciences, robotics, information technology and research have joined ranks with eight Fortune 500 companies. Health care, education, research, financial services and entertainment/tourism are the newly emerging industries that are driving revenue and employment for the region.One of the fastest-growing fields supporting the city’s transformation to a white-collar economy is accounting. This is especially true as the city continues to move away from industry to service and technology. Many of the newly emerging companies across all sectors of the local economy are small businesses. Though there are already over 400 accounting firms in Pittsburgh and Allegheny County alone servicing those businesses, that number increases dramatically as you move into the other seven counties surrounding the city.Pittsburgh — A City Of Growth. The local economy mirrors the nation’s economy as it continues to battle the recession. However, the region has fared better than most places in the country and is poised for substantive growth in 2011. Economists from the city’s largest financial institutions predict that the Greater Pittsburgh Area will add 13,000 new jobs this year. Unemployment is expected to drop below eight percent as larger corporations begin to hire and newly established businesses begin to grow. Additional hiring will also be evident as new companies locate there.The University of Pittsburgh Medical Center, the city’s largest employer, is currently in a hiring mode. Retail giants like Dick’s Sporting Goods and General Nutrition Center (GNC) are growing. Google now operates a 40,000 square foot office in Pittsburgh and recently announced plans for expansion. Marcellus Shale natural gas will be a major contributor to the local economy. The Cultural Arts, including film production, continues to blossom and dozens of new information technology firms are emerging to support the growing research activity at the University of Pittsburgh and Carnegie-Mellon University.Most of the new companies being created in the area are small businesses supporting these major industries. As the area grows, these businesses will grow as well and their need for more specialized accounting services will become increasingly evident. Presently, accountant firms in the Pittsburgh area offer 18 different types of accounting to small businesses, income tax accounting and project accounting to name a few.Pittsburgh — The City Of Champions. Pittsburgh is home to three major league franchises — the Pittsburgh Pirates, the Pittsburgh Steelers and the Pittsburgh Penguins. Two of those teams have graced the city with championships, the Steelers winning six Super Bowl titles and the Penguins winning three Stanley Cups. Thanks to the ingenious idea of a beloved Pittsburgh sportscaster and his Terrible Towel, the Steelers have given Pittsburgh fans reason to proclaim their hometown pride by simply waving their Terrible Towel. This marketing icon singlehandedly created Steeler Nation, a brotherhood of loyal fans across the country that has quietly and selflessly raised millions of dollars for a local charity in Pittsburgh.This hometown pride, this brotherhood, this spirit of generosity is championed in almost every neighborhood and community in the Greater Pittsburgh area. Pittsburghers are proud, industrious, friendly and generous people. Many of them have lived in their hometown for years and have established hundreds of small businesses to support their families, their communities and the city they call home. Accounting firms throughout the area have their roots in these same neighborhoods and have managed to successfully guide and support these businesses and the local communities and organizations they serve. Because of their efforts, these small businesses continue to prosper.With a good working knowledge of the city, its economy and its people, you can easily find the accounting firm in Pittsburgh that best meets your small business needs. Here are five sure-fire ways to help you do that.Pay close attention to your location and the location of the accounting firm with whom you choose to work. Pittsburgh is a large metropolitan city with over 400 neighborhoods and communities as diverse as the people living there. These neighborhoods and communities are what make Pittsburgh unique and it is important that you find an accounting firm who knows these places and the businesses that reside there. Pittsburgh is also a city, like many other big cities in the country, plagued with traffic jams, construction delays and bad weather. These conditions cause havoc on the roads in and out of the city at any time in the course of a regular business day. Don’t waste time driving all the way across town to meet with your accountant. Besides, if your accounting firm is close to you, they should be willing to come to your place of business.Focus your attention on only those firms in Pittsburgh specializing in small business accounting. Small business accounting firms keep track of salaries and wages, deductions for federal, state and local taxes and Social Security, utility costs, maintenance, depreciation, amortization, interest and rent. They also prepare your tax returns and administer payroll, health insurance and 401K retirement programs. These are the responsibilities you will want your accounting firm to handle for you. If they can also provide sales, marketing and financial services to meet the ever-growing needs of your small business, so much the better.Think about the things you know you want to receive from your accounting firm on a regular basis. Do you want them to reconcile your business checking account each month so that you know how your business is doing and you can manage your cash more effectively? Do you want an income statement itemizing your revenue and expenses every month or every quarter so that you can determine how effectively your business is performing? Do you want to receive a balance sheet giving you a snapshot of the financial condition of your business at any specific point in time so that you have the proper financial reporting to give to banks, investors and vendors who are considering how much credit to give you? Any accounting firm in Pittsburgh that professes to be a small business accounting firm should be able to provide you with all of these things as a matter of course, including as many consultations as you might need to run your business effectively and efficiently.Get answers to all of your questions before you commit to any one accounting firm. Here are questions you might consider asking:• Where exactly is your accounting firm located in Pittsburgh?
• What accounting services do you provide for small business owners? Can you take care of me and my accounting needs?
• What ties do you have to the community? Have you ever been recognized by your Chamber of Commerce or the Small Business Administration for outstanding service to a small business owner?
• What kind of monthly/quarterly/yearly reports can I expect to receive from you? How will these reports help me to better manage my business? Will I be able to understand them without your help?
• How and in what format will you want to receive information from me? How often will you want that information?
• When I have a question or concern, how best can I communicate with you? How quickly will you respond?
• How can you help me to grow my business?Begin your search with Google, not the Yellow Pages. Start by searching for “Pittsburgh Accountants” or “Pittsburgh Accounting Firms.” Narrow your search, if necessary, by location and type of accounting services provided; for example, search for “Accounting Firms In Kennedy Township” or “Small Business Accounting In Pittsburgh.”Realize early on that accounting is the foundation upon which your success, in large part, will be determined. And remember, for the small business owner, it is all about saving time and saving money. Using these five sure-fire ways to find the best accounting firm in Pittsburgh for your small business will save you both and your company’s success depends on it.
Pittsburgh Accounting – How To Find The Best Accounting Firm In Pittsburgh For Your Small Business
Real Estate Auctions – The New Land Rush
On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, “Fair warning, last chance” the auctioneer pauses, “SOLD!” And in less than 10 minutes another multimillion dollar estate has changed owners.
Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.
Real Estate Auctions Work in Up or Down Markets.
Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.
The auction method removes the “wait and see” attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.
When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.
Evaluating Your Real Estate for Auction
Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.
Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, “What makes my property different from most others?” Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.
Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.
Locate a Qualified Real Estate Auctioneer
Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.
Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.
You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.
Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.
Types of Real Estate Auctions
Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:
Absolute Auction
The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.
Minimum Bid Auction
Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.
Seller Confirmation or Reserve Auction
With a reserve auction, the seller “reserves” the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.
How Important Is the Fundraising Auctioneer to the Success of Your Event?
I want you to think about the term “Fundraising Auction”.
A “Fundraising Auction” is an event where items of value are gathered, and then sold in a competitive bidding situation, either in a Silent Auction format, or in a Live Auction format by a Live Auctioneer. And since typically the best items are saved for the Live Auction, arguably it is the Live Auction that should generate a significant portion of the proceeds in any Fundraising Auction.
So why do so many non-profit groups consider the Fundraising Auctioneer to be the least valuable component in a Fundraising Auction?
The Hosting Facility gets paid.
The Printer gets paid.
The Caterer gets paid.
The Liquor Store gets paid.
The DJ gets paid.
The Florist gets paid.
But the Auctioneer … the individual who is expected to raise the lion’s share of the event’s proceeds… is expected to work for Free. And is usually under-appreciated for the professional services he/she provides.
I’m not trying to underscore the value of the invitations & programs, food, booze, music, and decorations. All are important in their own way. But each of these are “Expenses”. It is the Auctioneer who is going to bring “Revenue”… and thus, the “Profits”… into any event. Which is the ultimate objective of any Fundraising Auction.
Here is a real-life example of how under-appreciated the Auctioneer can be. In two comparable events we worked last year, during the dinner portion of the event one non-profit group sat the Auctioneer (me) at a table with the DJ, the Interns, the Volunteer Staff, and other event “Help”. The 2nd non-profit group sat the Auctioneer (me) directly next to the CEO of their organization, where we chatted about how important the pending revenue would be to their organization. Which group do you think valued the services of the Fundraising Auctioneer more?
Don’t ever under-estimate the value that a professional Fundraising Auctioneer can bring to your event. The Auctioneer adds value as a pre-event consultant. And the Auctioneer can change an event from a moderate to a huge success.
A Case Study Once I was scheduled to call an Auction for a major local non-profit group. They represented a very good cause and they had a strong and dedicated following. Their event was sold out, quality Live & Silent Auction items had been solicited, and the Special Pledge Appeal had been choreographed and was ready to go. The facility was first class, the appropriate caterer was booked, and the food was ready to cook.
But quite unexpectedly, some unseasonably inclement weather forced the event’s cancellation. Despite all of the committee’s hard work, cancelling the event was the proper decision considering the circumstances.
So the Event Committee scrambled to re-schedule the event for the following weekend.
They confirmed with the Hosting Facility.
They confirmed with the Caterer.
They confirmed with the Liquor Store.
They confirmed with the DJ.
They confirmed with the Florist.
Since they already had the Mailing List of those scheduled to attend, no new invitations had to be printed as all were contacted by email or telephone. So with everything in place, the group went ahead and re-scheduled the event for the following weekend.
But guess who they failed to confirm? You got it… the Professional Auctioneer. They thought so little of the Auctioneer’s contribution that they “assumed” that the Auctioneer would be available and at their beck and call.
But the Auctioneer already had another Fundraising Auction booked for that date with another non-profit group. It was only hour away from the re-scheduled event, and things could have been easily worked out. All Group #1 had to do was start their event one hour earlier, or one hour later, than the Group #2, and the Auctioneer could have helped both groups on the same day.
But because Group #1 failed to anticipate a possible Auctioneer conflict, because they failed to confirm with the Auctioneer before re-scheduling their event, their preferred Auctioneer had to bow out and they had to scramble to locate substitute “Volunteer” Auctioneer only days before their event.
And it cost them.
Learning Points
The Live Auction is usually where the profits are made at any Fundraising Auction.
A Professional Fundraising Auctioneer can be vital to the success of any Fundraising Auction.
The better Fundraising Auctioneers usually get booked quickly.
You need to recognize the important contributions that a good Auctioneer can make to your event.
Michael Ivankovich is a Bucks County Fundraising Auctioneer based in Doylestown PA, and serves the Great Philadelphia PA area. He has been a professionally licensed and bonded Auctioneer in Pennsylvania for nearly 20 years, has been named Pennsylvania’s Auctioneer of the Year, and has considerable experience in conducting Fundraising Auctions. Michael loves helping groups raise needed funds for good causes and one of his specialties is the “Special Pledge Appeal” or “Fund-A-Cause Appeal” which usually enables clients to double their revenue in a single evening.