Outsourcing your company’s accounting function is largely seen as a competitive advantage that doesn’t require substantial time or money. This approach has a positive influence on most aspects of a business and will allow you to focus your time and effort on...
QuickTips: Tips & Tricks For Bookkeeping Success I hope you are off to a good New Year and that you have set some mighty goals for yourself in 2019 – personally and professionally. When the time comes to set new goals in my own life, I find that I have...
Due to all of the changes brought about last year with the Tax Cuts and Jobs Act (TCJA), many taxpayers have underpaid their estimated taxes or didn’t have enough federal income tax withheld. As such, the IRS recently modified the underpayment penalty calculation for...
The new credit loss standard (CECL) received airtime from many constituents over the last month — from the U.S. House Committee on Financial Services to Staff from the U.S. Securities and Exchange Commission (SEC) and Financial Accounting Standards Board (FASB) —...
On June 21, after hearing the arguments on both sides of the South Dakota v. Wayfair case, the U.S. Supreme Court issued a monumental ruling in favor of South Dakota. Today, many business owners are questioning how sales across state lines will impact their bottom...
Knowing The True Value Of Your Business Is Important For Decision-Making Believing your business is worth more than it actually is can result in major problems, especially if you want to sell your business or retire by a certain age. The misstep many business owners...
How Does Updated Guidance On Qualified Transportation Fringe Affect Nonprofits? Tax-exempt entities, in particular, need to pay special attention to the newly updated guidance released by the IRS with regard to parking expenses and qualified transportation fringe...
Valuation Reports Are Essential If You’re Gifting All, Part Of Your Business Business owners who have made the decision to gift all or a portion of their business might believe that simply filing a complete and accurate gift tax return with the IRS is enough to...
Should You Switch To A C Corporation Under The New Tax Law? Check out this helpful infographic to help you make up your mind. One of the most widely discussed aspects of the Tax Cuts and Jobs Act (TCJA) has been the reduction in the corporate tax rate from a top rate...
U.S. Unemployment Rate Lowest Since 1969 The Bureau of Labor Statistics released information showing that the United States unemployment fell to 3.7 percent in October 2018 (the lowest it has been since 1969). This unemployment rate, which is down from 3.9 percent in...
Want to take control of your business in 2019? Then it’s time to take control of your bookkeeping. Read on for this month’s QuickTips! QuickTips: Tips & Tricks For Bookkeeping Success I don’t necessarily mean to “beat a dead horse” as they say...
You or your employees might be exempt from paying into social security for religious reasons, but there are some important things you need to do first. Read on to learn what they are. Do You Know How to Properly Enact Religious Exemptions? Many of us have heard that...
Tax-exempt determination letters are now available online. To retrieve a copy of your determination letter (or another nonprofit’s determination letter), all you have to do is enter your organization’s name of and click on the “search” button. Really, what could be...
If you have plans of enjoying life after business, you owe it to yourself – and your family – to start planning your exit strategy early. Keep reading to learn more. And Is Your Business Ready For Your Exit? Why did you want to go into business in the...
Employers should alert and encourage employees to ensure their withholdings are correct (if they haven’t already), and, if need be, submit a new Form W-4. Why Withholding Amounts Should Matter With the Tax Cuts and Jobs Act of 2017 came several tax law changes for...
IRS Pumps The Brakes On Major Form Changes Do you remember the major announcement the IRS made about the Form W-4 changes that were set to take place in 2019? Well, in late September, the IRS announced that the roll out of those planned revisions would be delayed...
