Author Archives: admin

Blockchain & the future of accounting

The story behind the name of the bitcoin and blockchain technology is fascinating. Even more compelling is the wide-ranging application of the technology. For accountants and auditors, blockchain has the potential to dramatically alter the set way of going about business, especially when combined with other innovations such as machine learning. Because accounting records contain […]

Social media etiquette for business

For a small business, an inexpensive tool to build brand awareness and promote service is social media. With the internet comes speed & efficiency, but a firm focus on basics and careful responses with an eye on reputation building is required. Discussed in this article are a few tips on social media business etiquette. Social […]

Handling late paying clients

Your company is doing well, and bringing in new clients. But even if business looks good on paper, one problem can prevent your company from thriving – a lack of cash. Being paid on time ensures that your cash flow remains healthy. Although a majority of clients will pay without a problem, there are occasions […]

Fight fraud with active detection methods

Most accounting professionals will experience fraud in their organizations at some point in their careers. Some will be unfortunate enough to have it happen more than once. While it is never possible to completely eliminate fraud, there are best practice strategies that your organization can put in place to detect it early before it gets […]

Online payment methods – how to embrace with minimal risk

For small business owners, accepting payments in new ways can be confusing. Fraud and security-related issues might make them reluctant to receive payments through mobile apps, but to keep up with the advent of new technologies and accommodate how most customers want to pay, one should welcome change to allow for growth and expansion. Here […]

Changes in the 529 Savings Plans

529 education savings plans are state-sponsored savings plans with tax advantages making it easier for savings towards education. The main advantage is that earnings on the investments in a 529 account grow tax-free and can be withdrawn free from federal tax and also state tax if used for qualified education expenses. Before 2018, qualified education […]

How to manage summer vacations at your small business

Summer vacations are most anticipated, except, perhaps, by business owners and managers. Not only can it be a headache to juggle schedules and re-assign tasks while employees are away; it can also impact the business and customer service to have key employees gone. Here are a few things to consider when creating and implementing a […]

Flags leading to IRS Audit

The Internal Revenue Service uses a combination of automated and human processes when selecting which tax returns to audit. All tax returns are compared with statistical norms, and those with anomalies undergo three layers of review by personnel. Here are some items you can do well to be aware of, and have a double review […]

Why does my business need cyber insurance?

The prevailing thought among data security experts is that no matter the size or scale of a business, a data breach is inevitable. In fact, there is a good chance of the data being compromised already and the owner is unaware of it. A scary thought for sure, but it does not make it any […]

Tax Changes you need to know for 2018

The new tax reform bill is now law, and taxpayers can expect a lot of changes to take place in 2018. Reduced tax rates, higher standard deductions, and higher child tax credits for families are just a few of the perks that individual taxpayers will see next year. To pay for these tax breaks, however, […]