When a business is launched, its owners typically welcome every customer through the door with a sigh of relief. But after the company has established itself, those same owners might start looking at their buying constituency a little more critically. If your business has reached this...
Do you prepare internal financial statements for your board of directors on a monthly, quarterly, or other periodic basis? Later, at year end, do your auditors always propose adjustments? What is going on? Most likely, the differences are due to cash basis vs. accrual basis...
Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, help family members, or see their loved ones enjoy the gifts. If you are considering lifetime gifts, be aware that which assets you give...
Employers: For Social Security, Medicare, and withheld income tax, file IRS Form 941 for the third quarter of 2018. Deposit any undeposited tax under the accuracy of deposit rules. (If your tax liability is less than $2,500, you can pay it in full with a...
Online shopping enables consumers to buy almost anything from the convenience of their own homes. However, comfortable surroundings can lull online shoppers into a false sense of security. You would not leave your wallet unattended in a busy shopping mall or enter a sketchy-looking shop,...
Audit opinions differ depending on the information available, financial viability, errors discovered during audit procedures, and other limiting factors. The type of opinion your auditor issues tells stakeholders whether you are in compliance with accounting rules and likely to continue operating as a going concern. The...
Most employers probably know that reimbursements and direct payments of job-related education costs are excludable from workers’ wages as a working condition fringe benefit. Maybe you have offered such a benefit in the past and it has worked out well for everyone. However, if you are...
Up one month, down the next. This year, the stock market has offered lots of excitement, and broad market indexes have provided little sustenance for bulls or bears, with results not far from early 2018. One strategy that may be appealing in a relatively flat stock...
Is your sales process getting off-balance? Sometimes it can be hard to tell. Fluctuations in the economy, changes in customer interest, and dips in demand may cause slowdowns that are beyond your control. However, if the numbers keep dropping and you are not sure why,...
Non-profits often struggle with valuing non-cash and in-kind donations. Whether for record-keeping purposes or when helping donors understand proper valuation for their charitable tax deductions, the task is not easy. Although the amount that a donor can deduct generally is based on the donation’s fair...