Blog

Category: Outsourced Accounting & Bookkeeping

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July 10, 2019
Is Your Accounting Software Living Up to the Hype?

Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on being comprehensive accounting information systems — depending on the price point, of course.  So, is your accounting software living up to ...

April 1, 2019
Fraud Fact – Crooks Prefer Cash

It should come as no surprise that cash is the most popular target of fraud perpetrators. After all, once stolen, cash itself is virtually untraceable. But that doesn’t mean forensic accounting professionals can’t unearth cash fraud schemes — and the crooks behind them...

March 13, 2019
Is Return Fraud Cutting into Your Store’s Profits?

For brick-and-mortar retailers, return fraud can be a serious financial threat. There are several types of schemes. But when they’re successful, they all end the same way: Stores issue refunds that they shouldn’t have. Here’s what to look for and how to limit losses....

February 27, 2019
New Real Estate Investor?  Your Guide to Successful Bookkeeping

The main objective of bookkeeping is to have an accurate record of all the money going in and out of your business.  Having a rental property requires good bookkeeping skills or having an experienced bookkeeper on staff.  When you know how your business is doing at any poi...

February 18, 2019
Update on the New Business Interest Expense Limit Rules

The Tax Cut and Jobs Act imposed a new limitation for business interest expense.  Interest expense for the year is limited to 30% of adjusted taxable income plus any floor plan financing interest paid by vehicle dealers under new code section 163(j)(1).  This limitation ap...

February 18, 2019
Best Practices When Filing a Business Interruption Claim

Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance. Unlike a commercial property policy, which may cover certain repairs of damaged property, this coverage generally provides the cash flow to cov...

February 12, 2019
How Financial Statements Tell Your Story

Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements.  In short, f...

December 31, 2018
Funding a Business With Your IRA – Be Cautious

Consider this situation: A business owner thought an IRA was his money and he could use it to fund his start-up business. Instead, he had his entire IRA disqualified and he was forced by the appellate court to pay substantial penalties and a massive tax bill....

December 28, 2018
Using Market Research to Develop Pricing Strategies

The promise of the new year lies ahead. One way to help ensure it’s a profitable one is to re-evaluate your company’s pricing strategies. You need to devise an approach that considers more than just what it cost you to produce a product or deliver a service; it also must...

December 26, 2018
Do Your Long-Term Customers Know What Services You Offer?

Most business owners would likely agree that selling to existing customers is much easier than finding new ones. Yet many companies continue to squander potential sales to long-term, satisfied customers simply because they don’t create awareness of all their products and s...

December 18, 2018
Getting Ahead of the Curve on Emerging Technologies

Turn on your computer or mobile device, scroll through Facebook or Twitter, or skim a business-oriented website, and you’ll likely come across the term “emerging technologies.” It has become so ubiquitous that you might be tempted to ignore it and move on to something ...

November 26, 2018
Estimates vs Actuals – Was Your 2018 Budget Reasonable?

As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to accurately assess that budget by comparing its estimates to actual results. Your ...