Outsourced Accounting Services

It seems like every day we hear about more businesses who are outsourcing their accounting. For many business owners it can be a hard to let go of their internal accounting department, especially when they

Small Business Owners Still have Time to Set Up a SEP Retirement Plan for Last Year

Are you wishing you’d set up a retirement plan for your small business for 2018? Believe it or not, you may still be able to do so, and also reduce your 2018 tax liability! Contribution

Possibility of Larger Deductions for Business Miles this Year

Businesses generally can determine their vehicle expense deductions either by calculating the actual expenses or using the IRS’s standard mileage rate, which has increased for 2019. Your business may be able to claim a larger

Conducting Risk Assessments

Your auditor conducts an updated risk assessment every year when preparing financial statements. Learn how CPAs factor risk assessments into their audit procedures. 3-Prong Assessment Audit risk is a combination of three components: Control risk.

That Time of the Year to Review your Business’s Expenses

It's getting to be that time of the year to review your business's expenses for deductibility. The deductibility of certain expenses is obvious, while in other cases it’s unclear. And the TCJA affects many business

Audit Process of Royalty Agreements

Who’s monitoring your licenses? Whether due to error or fraud, underpayments may happen when your company licenses intellectual property to others. An external audit can ensure accurate royalty payments. The agreement The parties’ attorneys usually

Could these 2 Law Changes have an Impact on your Business’s 401(k) Plan?

Confused about how the new tax law changes may affect you?  If your business sponsors a 401(k) plan for its employees, it’s crucial to keep up with tax developments in case it affects your plans

Financial Reporting Goals for For-Profit vs. Not-For-Profit

As the term suggests, for-profit companies are driven primarily by one goal — to maximize profits for their owners. Nonprofits, on the other hand, are generally motivated by a charitable purpose. Here’s how their respective

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