7 Questions Contractors Should Ask Before Seeking Outside Financing
Construction companies can leverage loans, lines of credit and other such products to help ensure positive cash flow, build creditworthiness and fuel business growth. But the options can seem limitless and overwhelming. Here are seven Read More
Sep 08, 2023
New Upcoming Requirement for Businesses that Receive Large Amounts of Cash
Does your business receive large amounts of cash or cash equivalents? If so, you're generally required to report these transactions to the IRS — and not just on your tax return. Beginning January 1, 2024, Read More
Sep 07, 2023
Keep Money Laundering From Threatening Your Small Business
When criminals profit from illicit activities, they usually need to "clean" or disguise the proceeds of their crimes. Money laundering disconnects illegally acquired funds from sources that include theft, drug trafficking and terrorism. This makes Read More
Sep 05, 2023
Start Succession Planning
There are many family-owned businesses in the United States, and quite a few of them are facing ownership-transfer issues as their Baby Boomer founders retire. Some older Generation X owners may even be pondering early Read More
Aug 31, 2023
6 Payroll Tax Obligations Employers Should Know
There's more to paying taxes than just federal and state income taxes. Another major tax chore for employers is payroll taxes. These expenditures can be significant, and the reporting requirements can be onerous. So it's Read More
Aug 29, 2023
Using Analytics to Improve Efficiency for Audits
Analytical procedures are required for all financial statement audit engagements, according to the auditing standards published by the American Institute of Certified Public Accountants (AICPA). Audit analytics can help minimize the time and cost associated Read More
Aug 25, 2023
Breakeven and Burn Rate: Valuable Tools for Managing Performance
Breakeven and burn rate have historically been used to gauge the viability of start-ups and high-tech companies that have yet to turn a profit. But these analytical tools can also be used by established businesses Read More
Aug 15, 2023
Is Your Business Eligible for ERC or Is It a Scam?
“IRS cracks down on aggressive ERC marketing promoters and employers filing dubious claims” On July 26, 2023, the IRS Commissioner, Danny Werfel, announced that the agency has made significant progress in processing Employee Retention Credit Read More
Aug 15, 2023
How Rising Interest Rates and Inflation May Affect Financial Reporting
External market conditions may affect the amounts reported for certain items on the financial statements, including profits, loans, leases, investments and intangible assets. Estimates and disclosures for various items may be affected by current (or Read More
Jul 28, 2023
Grow Your Business with Insights from a Clean & Optimized QuickBooks Account
It’s easy to get sidetracked in the day-to-day demands of running a business and let your financial reporting processes take a back seat. When used to its full potential, accounting software like QuickBooks can put Read More
Jul 06, 2023