The PKF Texas team is safe and accounted for and we appreciate those who checked in on us! We are closing our office for the remainder of the week and will plan to reopen after the Labor Day holiday weekend while we allow our team members to reconnect as they are able due to power outages and damages.

Here you will find important tax/accounting updates surrounding Hurricane Harvey. Please continue to check back. As we receive more information, we will update this page. Last updated: August 31, 2017.

IRS Gives Tax Relief to Victims of Hurricane Harvey – The IRS has issued IR-2017-135 on August 28, 2017, stating taxpayers and tax preparers affected by Hurricane Harvey will have until January 31, 2018, to file certain individual and business tax returns and make certain tax payments. This includes individual and business taxpayers with filing extensions until September 15, 2017, or October 16, 2017, as applicable. Posted on August 28, 2017. For more information or if you have questions, please contact Martin Euson, Tax Director, at meuson@pkftexas.com.

Tax Relief for Victims of Hurricane Harvey in Texas – In addition to the counties listed in the above link, the IRS has added 11 Texas counties to the list of affected counties where businesses can receive tax relief. Posted on August 30, 2017. For more information or if you have questions, please contact Martin Euson, Tax Director, at meuson@pkftexas.com.

Retirement Plans Can Make Loans, Hardship Distributions to Victims of Hurricane Harvey – The Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Harvey and members of their families. Posted on August 30, 2017. For more information or if you have questions, please contact Shelly Hayes, Audit Senior Manager, at shayes@pkftexas.com.

You’ve seen them in Houston, now experience the Friendship Factor, presented by Karen Love and Leisa Holland-Nelson, in San Antonio for the first time. In this evergreen conversation, these best friends share real-life examples of how they built their networks to grow their companies and expand their personal brands.

The second annual Trinity University Women and Girls’ Leadership Summit happens this Friday, April 28 and Saturday, April 29. It is a truly exciting opportunity to connect with and empower talented women and girls in a unique setting and to engage with superstar women leaders. For more information, please visit www.trinitywomensleadership.com or view the event flyer below:

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PKF Texas recently sat down with one of its clients, Randy Gilde, CEO and president of Delray Plants. Located in Venus, Fla., the company may seem somewhat off the grid, but Delray Plants represents the 13th largest grower with 300 acres of production space in the United States, according to Greenhouse Grower. The company ships millions of plants to people across the country and even to Canada.

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PKF Texas: Tell us a bit about Delray Plants. What makes it unique?

Randy Gilde: We’re a national supplier to chain stores, and third generation in the Florida family business that grows high quality indoor plants. Our Christian values define our actions and behavior toward our employees and customers. This includes honesty, and fair and ethical business practices, as well as integrity; doing the right thing even when it hurts, as well as accountability, and we own our own actions.

Our people make us unique and innovation helps separate Delray Plants from other similar companies. With our scale, we grow millions of plants, and when you’re shipping millions of plants, quality is the key. Anybody can produce a plant and even a lot of plants, but do they all look good?

Today, people want trust, feel, smell and being healthy. When we put different programs together, we keep this in mind. For example, with our program, “Plants with Benefits,” we use the same plants, but when people go see them on display, they realize that plants clean the air.
PKF Texas: Your late father-in-law, Jacob “Jake” Koornneef, started Delray Plants with the philosophy, “Fewer, bigger, better.” Can you describe what this means?

Randy Gilde: Jake always believed that there would be consolidation in everything. We’ve seen that over the years, with all the mergers and acquisitions happening every day. Where 10 small nurseries used to provide plants for 500 stores, now it’s one big nursery that provides for those 500 stores. Delray was built with that in mind; we’re sized to scale to deal with big box retailers.

 

PKF Texas: Delray Plants started on 14 acres in 1968 and has grown to over 300 acres of production space, serving 33 states and even Canada. What has helped you grow, and how have industry changes affected the way you do business and the way you’ve grown?

Randy Gilde: We grew with the big box stores. The volume of plants over the years shifted from retail garden centers that used to be more than 70% of the business, to retail box stores that now does about the same amount of business.

We believe in stewardship. We share with our customers because we recycle 100 tons of cardboard every year. Also, we practice water conservation. Our drip irrigation in water practices that others don’t use set us apart. Nobody wants to hurt the environment today and our customers see that.

In addition to the big box stores, we’re on Facebook, where the consumer can see our name and website so they can see our plants. Also, Pinterest is good for us. For example, you can see a plant and you can find it right away at an online retailer.
PKF Texas: What are the biggest financial challenges and hurdles you have faced, and how do you deal with, and overcome, those?

Randy Gilde: Labor is always a challenge in this industry. To overcome that, we pay a fair competitive wage and maintain a safe, friendly work environment. Also, government programs are always a factor in business. A good example is the Affordable Health Care Act, which is an ongoing challenge.

 

PKF Texas: Tell us about your role in the organization, as well as the company’s community work.

Randy Gilde: I married into it 38 years ago and started at the bottom, working for my father-in-law. I’ve taken in every aspect of the job, and after my father-in-law passed away, my brother-in-law, Ed, and I co-led the company. We decided to become board-run and governed because large customers wanted to know our succession plan, and you must share it with them. My father-in-law’s succession plan was myself and Ed; he and I talked about it, and decided that I’d be the CEO and president. Even though I was already acting in that role, now it’s official.

Personally and corporately, we give back lots to the community. We are a Christian-based company and support AgVenture, which teaches the community about plants. We also support the 4-H Foundation, United Way and many other organizations.

 

PKF Texas: When it comes to your customers, what do you hope they take away from their Delray Plants experience?

Randy Gilde: We want to have a plant in every home in America. That may seem farfetched, but look at what Bill Gates said. He wanted a computer in every home in America, which is now the case, so what’s the difference?

When you get to see a consumer that’s buying your product, that makes you feel good. We want to make a significant contribution to our customers’ success. By doing that, it guarantees our success.

Today on the CPA Desk, we are reflecting on the annual Aggie 100 event. As the event’s official accountants, we look forward to attending each year and learning about successful Aggies in Texas and around the globe.

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A local company, Lone Star Bloom, LLC, took the top spot this year with a growth rate of 229.55 percent over the past three years. More than a third of companies ranked in the Aggie 100 are based in Houston. You can see the full list of winners here.

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Businesses ranked in the coveted list cover a wide variety of industries and are mostly headquartered in Texas. At PKF Texas, we are proud to support an event that honors the successes of fellow Aggies and our “Ag-Squad” looks forward to visiting their old stomping grounds for the event each year.

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Join the Greater Houston Partnership at Hotel Zaza on Saturday, August 27 for the 2016 Soiree. This event is an annual gala showcasing the Houston region as a center of commerce, influence, arts and culture and PKF Texas is proud to be involved every year through various leadership roles and sponsorships. Attended by more than 600 of Houston’s dignitaries, consular corps and business leaders, Soiree offers a night of entertainment, culinary delights and a world-class silent auction. Click here to register and learn more.

There are still opportunities for silent auction items to be donated. This is a great way to spotlight your company and it’s services. If you and your company are interested in donating items for the silent auction, please review and complete the following form: Soiree-Silent Auction Form

This year’s theme, Inspiring Innovation, will showcase Houston’s creativity and ingenuity in an immersive experience you won’t forget.

If you have any questions about the Soiree, contact Kristin Culwell, kculwell@houston.org. We hope you’ll be able to join the region’s local and international business, government and economic development leaders in supporting and attending this extraordinary event!

We are pleased to announce our Manager of Entrepreneurial Advisory Services, Sam Razmandi, CPA, has been appointed to Treasurer of the Houston chapter of the American Marketing Association.

Razmandi’s responsibilities include managing the financial processing, reporting and monitoring of the chapter to ensure maintenance of budget to reach financial goals, managing the collection of funds to the Chapter and reviewing all bookkeeper entries for accuracy.

Additionally, as Treasurer, Razmandi will track the chapter’s payment of invoices and present monthly financial reports to the Board and the International Headquarters.

“PKF Texas’ continued involvement in the marketing community has been essential in positioning Houston as a leading market nationally.” says Tracie Welch-Brenton, President of the AMA Houston Board, “We are honored to have Sam as Treasurer on the AMA Houston 2016-2017 board.”

As Houstonians, we love to see our city thrive and take pride in the unique mix of eclectic and traditional.  We know the miscellany we find around every corner is a part of what makes our city so great. While the lack of zoning has been a topic of criticism in the past, it turns out it may be part of what makes the Bayou City so inclusive and accessible.

An article that ran in the Wall Street Journal claims Houston, along with Detroit, Singapore, Medellín and Vancouver, is a city leading the way in urban innovation. The article states for the first time in history, more humans are living in urban than rural areas. It cites a United Nations projection of nearly two-thirds of the world’s almost 10 billion people will be living in urban spaces by 2050. So where does Houston fit into the innovative idea?

Though our beloved city is growing at an extremely fast rate, our lack of zoning has allowed real estate developers to build new developments in virtually all areas of the city without dealing with rezoning. This, unlike cities such as New York City or San Francisco, has allowed prices to stay relatively affordable. Over half of the homes in Houston, with over 200,000 new units in the past six years, are considered affordable to median income families by the National Home Builders Association. To put that into perspective, only 15% of Los Angeles homes are considered affordable.

The balance between lack of zoning and high demand opens up opportunities for developers and designers, and home buyers for that matter, which they may not find elsewhere.

We at PKF Texas love our opportunity-filled city and love watching it flourish. A huge proponent of our company culture is giving back, which we do by partnering and being involved with organizations who make Houston so innovative.

The original article was written by Michael Totty, News Editor for The Journal Report, and can be found here.

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Rice Alliance for Technology & Entrepreneurship
Rice Business Plan Competition

When: April 14-16, 2016

Where: Jones School of Business | 6100 Main St, Houston, TX 77005

What: The Rice Business Plan Competition is the world’s richest and largest graduate-level student startup competition. It is hosted and organized by the Rice Alliance for Technology and Entrepreneurship, which is Rice University’s internationally-recognized initiative devoted to the support of entrepreneurship, and the Jesse H. Jones Graduate School of Business. This is the 16th year for the competition. In that time, it has grown from nine teams competing for $10,000 in prize money in 2001, to 42 teams from around the world competing for more than $1.5 million in cash and prizes. PKF Texas is a featured sponsor. More…

Cost: $99 – 1 Day Pass | $199 – 3 Day Pass

Register Now button

Event Contact: Mary Lynn Fernau | 713-348-5374 | mlfernau@rice.edu

Our friends and clients look to us, as accountants and business advisors, to formulate ideas and facilitate solutions for your business. With this in mind, we are supporting several upcoming events we think may be of interest to you.

  • El Centro de Corazon
  • Turnaround Management Association – February Breakfast Meeting
  • Greater Houston Women’s Chamber of Commerce
  • East End Chamber of Commerce
  • University of Houston
  • Houston Young Professionals Endeavor – Conversations with HYPE: Strategic Networking
  • Houston Business Journal
  • Turnaround Management Association – Women’s Social
  • Houston Interactive Marketing Association
If you have questions about any event details or registration information, the organization-specific contacts are below. We hope to see you at any or all of these events!

Continue Reading February Events

We are pleased to announce several of our Directors have recently been appointed to key leadership roles within the business community.

  • Kenneth Guidry, CPA, President, was appointed Chair of the Audit and Risk Committee of the Greater Houston Partnership, an organization where business leaders can have influence on Houston’s growth and future. The committee is responsible for the oversight of the financial reporting process, the audit process and enterprise risk management.
  • Ryan Istre, CPA, will serve on the leadership team of the Greater Houston Partnership’s Business Development Program, where he will co-facilitate meetings and assist in the planning of speakers and topics for the monthly agenda.
  • Chris Hatten, CPA, who serves both on the Houston Chapter Board and Young Professional’s Board for the Turnaround Management Association (TMA), was appointed as Treasurer of the Houston chapter. TMA seeks to strengthen the global economy through turnaround management, corporate restructuring and distressed investing.
  • Michael Veuleman, CPA, is now a board and executive committee member, as well as the treasurer for the East End Chamber of Commerce, where he is dedicated to serving the education needs in the East Houston area.

“We are thrilled to have so many members of our team in positions of influence in these local organizations,” said Guidry, “PKF Texas is proud to have an impact on our thriving and vibrant business community.”