6 Steps to Creating Work-Life Balance in Your Firm
Is your firm’s partners and employees producing low productivity, burnout, unhappiness and illnesses caused by stress, due mostly from a lack of balance between their work and personal lives? The people in your firm are your key asset. Your firm needs to look at how...
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Tips for Creating Organized Financial Statements
Instead of only printing the QuickBooks® reports as is, take time to review the specific order and organization in which these Financial Statements need to appear, so that the bank can perform a quick and accurate analysis of the financial health of the business....
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IRS Targeting Small Firm Retirement Plans
Whether you are employed or a freelancer, ensure your firm’s plan is up to date, whether you are a freelancer or employed. An increase in IRS audits of retirement plans will direct attention on types of plans and issues that experience has shown are likely to result...
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Do you use a payroll service?
When an employer and its payroll service each make payments to employees, each must file W-2s. The IRS made this ruling in a legal memorandum. The memorandum, which may affect your company or clients, was issued to auditors who faced the following obstacles: Employers...
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Stop Employee Time Theft
Time theft isn’t a simple subject to discuss. Altogether, we all attempt to do the right thing – get to work on time, meet the deadlines we’re given and show up with a positive attitude. But, time theft (however unintentional) is one of those damaging acts that can go...
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Efficient Recordkeeping Can Protect A Company
Tax pros tips to help you: When the IRS goes after underpaid taxes, the taxpayers often blame their tax pros, according to an IRS official speaking at a recent conference. “Your clients won’t hesitate to throw you under the bus,” said the official. Best way to protect...
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Out-of-State Sales Tax Regs Spread
Over half the states now have laws and regs making out-of-state businesses to charge and submit sales taxes on sales within their state. The laws differ, but most need firms to submit sales taxes if they made at least $100,000 of sales in the state the prior year. In...
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Predicting Employee Turnover
There are some statistical standards that foresee with some accuracy which employees will stay with you. Here are several possible predictors to help determine who will leave, which is harder to predict: Frowning on conflict. Employees may stop partaking in meetings...
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Employer-Provided Meals for Business Purposes are Not Always Tax Free
Employee meals provided occasionally, such as for holiday parties, are tax-free as a de minimis fringe benefit. For employer meals provided for business purposes to be tax free, they must be provided in an “eating facility.” Note: The IRS believes snack areas and...
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How to Avoid Scams
Here’s how to prevent scammers from stealing your money or personal data. By requesting electronic statements and accepting bills and bank statements only online. Helps to avoid having important personal information stolen from your home or mailbox. Have a shredder....
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