Cash is the most vulnerable asset in a business. Performing bank reconciliations is an internal control mechanism that can help identify unusual transactions that might be caused by simple accounting errors or worse yet, fraudulent activity. It’s extremely important to perform such … [Read more...] about Importance of Bank Reconciliations
General Business
Considerations for a Remote Workforce
As the current work environment continues to evolve, employers are seeking out additional information on the ability to work remotely and what tax impact that has on the business and its employees. Employers should begin by considering a few questions: In which state(s) do we have employees … [Read more...] about Considerations for a Remote Workforce
COVID-19 Shuttered Venue Operators Grant
The Small Business Administration is funding the Shuttered Venue Operators Grant (SVOG) designed to provide assistance to entertainment and restaurant entities affected by the COVID-19 pandemic. Eligible entities include: live venue operators or promoters; theatrical producers; live performing arts … [Read more...] about COVID-19 Shuttered Venue Operators Grant
Let QuickBooks Online Be Your Company’s Virtual File Cabinet
Organizing and keeping up with paperwork related to your business can be a time consuming and daunting task. QuickBooks Online can help organize your documents, simplify your document filing and provide access to your documentation anytime, anywhere. The Attachment feature in QuickBooks Online is a … [Read more...] about Let QuickBooks Online Be Your Company’s Virtual File Cabinet
Employer Tax Credit for COVID-19 Vaccination Paid Time Off
One of the tax relief provisions included in the American Rescue Plan includes a refundable tax credit to eligible employers for paid time off (PTO) related to obtaining a COVID-19 vaccine. Eligible employers include businesses and tax-exempt organizations with less than 500 employees and certain … [Read more...] about Employer Tax Credit for COVID-19 Vaccination Paid Time Off
Best Practices: How to Prepare for an Upcoming Audit
Our clients often ask us many wide-ranging questions, everything from guidance on new accounting standards to our favorite breweries. But the most common question we receive from audit clients is, how do we recommend they prepare for an upcoming financial statement audit? I suspect I know what many … [Read more...] about Best Practices: How to Prepare for an Upcoming Audit