Effective ways to maximize collections and minimize write-offs
Convert receivables into cash
Tips to determine “reasonable compensation” for corporate business owners
How to determine "reasonable compensation" for corporate business owners
Understanding Your Statement of Cash Flows
Understanding your statement of cash flows
Is your hobby providing you profit during COVID-19?
Today, many people sell homemade products online or work on some unincorporated sideline venture outside of their regular day jobs. Such activities can generate extra spending money. This can be especially helpful for retired people, stay-at-home parents and those who have been laid off or taken a pay cut during the COVID-19 crisis. For example, [...]
Thorough business records are important for tax deductions and painless IRS audits
Small businesses: take a proactive approach to recordkeeping If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should carefully record your expenses in order to claim the full amount of the tax deductions to which you’re [...]
Auditing remotely during the pandemic
During the novel coronavirus (COVID-19) pandemic, many people have been working from home, including most accounting professionals. These remote working conditions have altered the traditional audit process. Benefits of technology for remote auditing Fortunately, in recent years, many accounting firms have been transitioning to remote auditing for certain procedures. Specifically, they’ve invested in staff training [...]
Get your financial statements on track
Do you procrastinate when it comes to closing your books and deliver your year-end financial statements late? Lenders and investors may think the worst if a company’s financial statements aren’t submitted in a timely manner. Here are three assumptions your stakeholders could make when your business has a late financial statement. 1. You’re hiding negative results No [...]
Micro-donations could mean more dollars for your non-profit
There are few better feelings when you work at a non-profit then when your organization receives a large gift. But small donations can be just as critical to your organization’s well-being. The latest trend in giving is the micro-donation- through days of giving (such as #GivingTuesday) or crowd-funded online giving sites. If your non-profit isn't already soliciting these types of gifts, [...]
Cause Marketing For Your Nonprofit
Although corporations and not-for-profits have been teaming up for decades, “cause marketing” partnerships have recently gained new popularity. Cause marketing is a type of marketing that combines the efforts of a for-profit and a non-profit organization for mutual benefit. Types of Relationships Whatever your not-for-profit’s mission, location or size, you’re likely to find a cause [...]
