If you or your company is involved in a lease, many changes have taken place in the 2019 law that involves the lease term–over a year or less than a year. US GAAP still has a distinction between finance/capital leases and operating leases. Let us help you with this as both are still on the […]
2019 Lease Changes Read More »
Have you ever thought of your CPA as a friend? If you find the right CPA, they will know details of your life many friends and family members don’t know. There is a level of trust and respect in the relationship that develops every year. Each year, your CPA will be updated on your life
Do You Trust Your CPA Like a Friend? Read More »
The tax cuts that took effect in 2018 should be providing some simplifications for small business taxpayers. Here are some of the highlights: Businesses can now use an inventory method that conforms more closely to their own financial accounting of inventories. The treatment of long term construction contracts has also been changed. A company may
While your odds of an IRS audit are low, there are items that could increase your chances of triggering an audit. With tax season just around the corner, you should be aware of some of the clues left. Failing to report income. The old saying “Make a list and check it twice” is good advice
Happy Holidays! As we approach the new year, we want to thank you for working with us or consulting us, and address some things to remember in the coming year: -Review 2017 – This will give you an idea of what is needed and how it was used -Review 2018 – Has anything changed that
Year End Review & New Year Prep Read More »
With the holidays fast approaching, now is the time to prepare for year end so you aren’t caught off guard or rushing at the last second. Year end is an accounting procedure to close business out for the end of the year. If you have a book keeper or CPA, simply give them access to
Year End Preparations Read More »
If you’re one of the unlucky ones, your business may have been audited. All this means is that you need to submit paperwork and proof of filing. The below tasks, with the help of a bookkeeper, will ensure this unfortunate time goes smoothly (assuming you filed everything properly!). Don’t panic. Just because you received a
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When you’re a small business, every expense matters. There are certainly ways to cut costs, but some expenses are invaluable. Bookkeeping is one of them. Should you be selected for an audit, you will appreciate your business expenses being done correctly and in an orderly fashion. This can be done as an ongoing service, or
Benefits of a Bookkeeper Read More »
Employee benefits can be costly for the employer, but they make the employee value the workplace more and provide incentives. Without breaking the bank, there are a few things your company can do to demonstrate your employee appreciation without hurting your bottom line. Summer Fridays: In the summer, productivity on Friday afternoons is probably at
Affordable Employee Benefits Read More »
In the summer time, companies tend to try to make working during the warmth a little more bareable with summer Fridays. What this means at each company could be very different. Some companies support 1/2 day Fridays, while others may bring in morning treats or cater in lunches. Regardless of the perk, if this is
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