It is critical for all small businesses to carefully weigh monetary concerns and assess financial risks. Financial risk management can help prevent financial disasters before they happen. What do financial risk management professionals and certified financial accountants recommend to help businesses stay on track? Carefully File Business Taxes Small business taxes should be as accurate […]
It’s a new year and that means startup businesses and small businesses should carefully consider some important questions — questions like, is my business fiscally sound? If the answer is no or even a slightly hesitant maybe, business owners need to carefully reevaluate their expenses and profits, and do something about it. Here are some […]
Managing your money can be fairly straightforward, but for small business owners, it can become quite complicated. Hiring an accountant, financial planner, or both is a great way to make sure your business’ finances are in order. But what is the difference between an accountant and a financial planner? Accountants are often involved in tax […]
How is Fraud Defined? Fraud is a deception perpetrated for the intent of personal or financial gain: a lie told and acted upon for profit. The law segregates fraud into four sections: 1. Misstatements and Omissions: misrepresentation of a fact 2. Scienter: an awareness that the misrepresentation exists; deliberate and willful disregard of the truth. […]
Making your list, checking it twice. The IRS will find out if you have been naughty or nice. What will your organization receive this tax season, a refund or a penalty? Soon after the festive holiday season, small businesses scramble to make last minute changes in order to comply to tax code changes and take […]
All businesses need to have the W2s in the hands of their employees by January 31, and are even required by law to get them out if you happen to be passed the filing date. Even though you technically don’t have to send all of the tax information out until after the new year, starting […]
A great employee is a valuable asset, and can be worth every penny if their talent and ethics stand out. On the other hand, some benefits can be a great waste with inferior employees. It is wise to let go of those weak employees, and it is vital to keep the great employees happy. Job […]
When it comes to specialty practices, one surrounded in mystery is often forensic accounting. However, we’re going to clear up some of the confusion regarding forensic accounting and explain just how much this practice has changed over the years. With this being said, here’s a look at forensic accounting and how much this occupation has […]
With each passing year, companies go through the process of filing an end-of-year return and face the foreboding possibility of being audited. Corporate tax audits are unfortunately a source of worry and apprehension for business owners, and they inevitably entail additional accounting expenses that impact a company’s bottom line. It’s impossible to entirely avoid an […]
It’s more important than you realize to revisit your financial goals at least once every year. Whether you’re a small business or a multinational corporation, making this a habit can lead to great things for your business while failing to do so can lead your business to stagnation and a lack of growth in the […]
