Do bad sales months often take you by surprise? If so, do not forget the power of flash reports — that is, snapshots of critical data for quick, timely viewing every day or week. One specific way to use them is to track bookings vs. shippings....
Your non-profit probably already ensures that donors receive a receipt with information about claiming a charitable contribution deduction on their tax return. However, your obligations may go further than that. For noncash donations, you might have responsibilities related to certain tax forms. IRS Form 8283 for...
One of the ways perpetrators get away with fraud is by tailoring their approach to exploit a company’s specific weaknesses. However, machine learning, a form of artificial intelligence where technology adapts to more effectively detect fraud schemes, can help combat the ‘ingenuity’ of even the...
Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex; subject to ordinary-income, capital gains, employment, and other taxes. But if you receive restricted stock awards, you might have...
Time flies when you are busy running a business, but it is important to occasionally pause and assess interim performance. Otherwise, you are likely to be surprised by the year-end results. When reviewing mid-year financial reports, however, recognize their potential shortcomings. These reports might not...
Paid parental leave is not required under federal law. In fact, the United States is among only a few developed nations without a mandate for employers to offer compensated time off to mothers and fathers following the birth or adoption of a child. (Some states...
Most businesses approach technology as an evolving challenge. You do not want to overspend on bells and whistles you will never fully use, but you also do not want to be left behind as competitors use the latest tech tools to operate more nimbly. To refine...
If your non-profit relies heavily on a few funding sources — for example, an annual government or foundation grant — what happens if you suddenly lose that support? The risk may be compounded if you generally spend every penny that comes in the door and...
It is not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. Starting this year, the Tax Cuts and Jobs Act (TCJA) further restricts the amount of losses that sole proprietors,...
You have internal controls to fraud-proof your company’s checks. Every check requires two signatures, and one of them must be yours. Sure, you have a signature stamp to make the job easier on your hand, but it is locked in your office when you are...