Accounting & Business Advisory Blog

Plateaus are a normal event in the life cycle of any business, but that doesn’t make them any less frustrating. What was once an effective driver of revenue and growth can suddenly stop working leading…

As year end approaches, small business owners should review their tax situations to determine ways to lower federal income taxes for the current tax year — and beyond. Fortunately, no significant unfavorable federal tax law…

In a thriving pet care industry valued at nearly $36 billion, increasing profitability while growing your veterinary practice can be a challenging endeavor. The path to growth is not just about increasing revenue but understanding…

Implementing year-end tax planning strategies now can help reduce your manufacturing company's 2023 tax bill. Indeed, a lower tax bill can improve your cash flow and your bottom line. One of the most tried-and-true strategies…

At some point, every business owner leaves the company, either voluntarily through retirement or otherwise. Some businesses will outlive their founders. Others can't survive without the continued involvement of a key owner-employee. And a few…

There's currently a talent crisis in the accounting industry. The U.S. Bureau of Labor Statistics estimates that roughly 17% of U.S. accountants and auditors have left their jobs over the past two years, leaving some…

Entrepreneurs and others who work for themselves are often on the hook for significant federal self-employment (SE) tax, in addition to federal and state income taxes. Here are the answers to some common questions about…

Years ago, employers could exclude part-time employees — those who work less than 1,000 hours per year in the business — from participating in 401(k) plans. That was before the Setting Every Community Up for…

While cash flow best practices apply across all types of businesses, there’s added difficulty for businesses that experience dramatic fluctuations in sales and cash flow due to the seasonal or cyclical nature of their products…

Artificial intelligence (AI) has been around for years. In November 2022, however, the technology became more broadly used by the general public with the advent of Chat Generative Pre-Trained Transformer (ChatGPT). This conversation bot uses…