Business Tips

When most of us think about running our business, we think about the fun things like product development, marketing and customer outreach.  For most business owners, the idea of accounting is, to say the least, not exciting.  We know we need it, and moreover, we love to do everything ourselves. But at the end of the day.

With the passing of the Tax Cuts and Jobs Act (TCJA), tax professionals and businesses are beginning to absorb the massive changes and find some key twists in the new tax reform laws. The following information on these twists will help you navigate the new terrain.

Don’t Be GILTI

The new lease accounting standards will require some extra time and work for many companies as they race to satisfy the new requirements.

In these new rules, two leases (finance and operating) will be required on the balance sheets.

The relationship between accountant and client is a relationship based on open communication and the exchange of relevant ideas, and this serves as the basis for decision making. Without the exchange of ideas between client and accountant there is no value added to the decision making process.

As noted in recent reports, current US Generally Accepted Accounting Principles (GAAP) as prescribed by Accounting S

What is a foreclosure?

One of the most significant, if not the most significant function within any secure business is that of risk management.

Small businesses looking to increase sales and profit, reduce dependence on the domestic market and stabilize seasonal fluctuations should consider exporting. Consider these facts: 

Rollovers as Business Start-Ups (ROBS) are financing mechanisms in which current or prospective business owners use their 401(k), IRA or other retirement funds to pay for new business start-up costs, for business acquisition costs or to refinance an existing busines

One of my favorite sayings is “the only constant is change.” This saying certainly holds true in the business realm where it seems that the mandate is also “growth and go.”

Experience seems to show that upon the purchase of a business the new owner needs to roll-up his or her sleeves and really get to work.