Category: Accounting

Accounting, December 2021, Expert Advice

Budget or Forecast: Which Method – or Combo – Most Benefits Your Business?

When it comes to setting financial goals for your business, there are two main methods to consider: budgeting or forecasting.  Most businesses use one or the other, but understanding how each one works, and how to leverage the information provided from each, is critical to better defining your objectives to achieve your goals and adapt to real-time market conditions. Given the changes in the business environment today, it may even…

November 2021, Accounting, Expert Advice

Do You Have a Nanny or Household Employee? Make Sure You’re Up-to-Date on Tax Requirements

The COVID-19 pandemic caused many families to rethink their child care situations. Nannies became a popular choice for many, as they decreased the risk of sending children to child care centers and provided the benefit of helping those same children through online schooling while their parents worked. As the pandemic has ebbed and flowed, nannies have remained a popular option. Many families, however, were unprepared with how to transition to…

Accounting, Expert Advice, October 2021

Don’t Overlook the Employee Retention Credit

Note: We are closely monitoring H.R. 3684, known as the Infrastructure Investment and Jobs Act. The U.S. Senate has approved the infrastructure bill, and it now goes to the U.S. House of Representatives for consideration as of the publication. The infrastructure bill would terminate the employee retention credit early, making wages paid after Sept. 30, 2021, ineligible for the credit. The employee retention credit (ERC) was introduced in 2020 to…

September 2021, Accounting, Expert Advice

Hire, Promote or Scale Back?

When a business is growing, it goes through a series of surges, plateaus and dips. During times of growth, it is essential to know how to scale your personnel. Some will focus on building their teams through new hires; others may promote existing talent to new positions; and sometimes the correct answer is to scale back on personnel.  Managing your greatest asset is a critical part of your business. Here…

Accounting, August 2021, Expert Advice

Top 11 Benefits of Cloud-Based Accounting and Real-Time Data

If you haven’t converted to cloud-based accounting, COVID-19 likely prompted you to consider making the switch. With more and more businesses and industries operating virtually, cloud access and real-time data have become more important than ever to make the best business decisions possible in uncertain times. With so much up in the air, you don’t want to be caught with a static accounting system that cannot keep up and provide…