Author Archives: admin

Democratic House Will Raise Business Taxes

Now that Democrats have control of the House they are hoping to undo a recently passed Republican law that could make raising taxes difficult. Their main argument will focus on raising the corporate tax rate a few percentage points which if successful could cause the entire Tax Cuts and Jobs Act (TCJA) of 2017 to […]

Marijuana Dispensary Accounting Procedures

Operating a marijuana dispensary is for the most part legal now in nine states but that doesn’t mean it is easy to do so legally. Local laws and regulations are super confusing and it is hard to find any clarity since it is still technically illegal at the federal level. Obviously businesses in this industry […]

How Small Businesses Need To Prepare For ASC 606

Starting December 15, 2018 all small businesses will need to implement Accounting Standard Codification (ASC) 606 to properly file 2019 annual income taxes. This upcoming change will definitely require some preparation since it is a complete revamp of current revenue reporting guidelines. These new revenue recognition standards will be used for accounting revenue from customer […]

Employee Theft Exists Within Your Small Business

Operating a small business without a doubt has its fair share of problems. Take a second and think of four or five things your business is struggling with. I’m sure that was easy. If I was to guess, the business issues you are having deal with finding employees or getting new customers. Or maybe you […]

Top Countries for Finance and Accounting Outsourcing

The ever growing trend for businesses to use overseas finance and accounting outsourcing (FAO) services has resulted in more countries joining the market. In the past businesses would solely look at cost reduction to determine where they were going to outsource. Accounting outsourcing companies can no longer survive by just providing the lowest cost service. […]

How to Create External Accounting Reports to Track the Bottom Line

External accounting reports are created by companies in order to show the outside world business information that is important to shareholders, investors and other financial institutions. Depending on the size of the company and industry the external reports may look similar to the internal accounting reports or they could be a night and day difference. […]

Trump's Tax Cuts Effect on Small and Mid-Sized Business

This is the year that President Trump makes due on his promise to “bring back Main street” by introducing the new tax laws for small business owners to reduce their tax burdens and increase the opportunities to grow their business. Since the tax cuts plan is now finalized and set in law, business owners and […]