Jeff Lucke, CPA, is the founder of Lucke & Associates, with an entrepreneurial background. Jeff has had ownership interests in businesses within several industries including automotive, construction, healthcare, telecommunications, and restaurants, as well as being active in real estate. As an owner of a growing CPA firm and other businesses, he has gained unique insights into the challenges and issues that face other growing businesses that most other CPAs do not have. This kind of knowledge ultimately benefits every one of the firm’s clients. He is very involved with clients and becomes deeply involved in their businesses and helping them succeed. Jeff is a graduate of the University of Nebraska and holds a Bachelor of Science in Accounting; his professional affiliations include the AICPA and KSCPA. Jeff currently serves a board member for his community on the Construction Financial Managers Association, the American Diabetes Association, and Big Brothers Big Sisters.

The TCJA temporarily expands bonus depreciation

The Tax Cuts and Jobs Act (TCJA) significantly enhances bonus depreciation. You might even be able to benefit when you file your 2017 tax return. Generally, for qualified property placed in service between Sept. 28, 2017, and Dec. 31, 2022, the first-year bonus depreciation percentage increases to 100%. In addition, the 100% deduction is allowed…

Find time for strategic planning

Every business owner must find time for strategic planning. Failing to do so can leave you working blindly, in danger of crisis or even ruin because of unforeseen developments. Some experts say a CEO should spend only 50% of his or her time on daily operations, with the other half going to strategizing. But the…

7 steps to choosing a successor for your family business

Many family businesses don’t survive to a third generation. To give your company a fighting chance, carefully choose a successor. Don’t assume your son or daughter is the only candidate. Work with objective outsiders to identify potential successors. Let these individuals work in various capacities for your company, giving each a fair shot at rising…

Get smart: How AI can help your business

Artificial intelligence (AI) can help just about any business “get smart.” AI generally refers to technology capable of performing tasks that previously required human intelligence, such as image perception, voice recognition and problem solving. Integrating it into a CRM system helps you better understand buyers and generate sales leads. Using AI to assist customer service…

Cutting costs when you’ve gone over budget

If your company is over budget at year end, it’s a bit of a disappointment, to say the least. But don’t lose hope. You can still cut costs to either improve this year’s numbers or perhaps next year’s. Reassess your staffing levels to see if you can reorganize and eliminate underperforming positions. Also, review your…