February 26, 2024
Many new ventures start out as sole proprietorships. Here are nine considerations if you’re operating a business that way.
October 27, 2023
Extensive reporting requirements stemming from the Corporate Transparency Act will affect many business owners starting January 1.
October 9, 2023
New guidance will require that a joint venture must initially measure its assets and liabilities at fair value on the formation date.
October 3, 2023
Estimating is among the most important areas of proficiency for any construction business. Here are 10 ways to potentially improve your company’s estimates.
September 26, 2023
An interim CFO can provide a wealth of experience and insight and potentially save you considerable time and expense.
August 28, 2023
Have you connected your bank accounts to QuickBooks Online? It’s a great way to simplify your transaction tracking.
August 16, 2023
Scammers are hyping quick, easy money from the employee retention tax credit, but despite what you might hear in the slick advertisements, the IRS has a warning for employers.
August 9, 2023
Take a closer look at recent changes in tax accounting methods for cost recovery, losses, and more.
May 25, 2023
The guidance on classifying cash flows among operating, investing, and financing activities remains a gray area – even more confusing when transactions have aspects of more than one type of activity.
May 22, 2023
These days, more businesses are filling vacant positions and saving money by using independent contractors. Knowing the basic rules can keep you out of trouble with the IRS.
March 28, 2023
Bank collapses in the U.S. aren’t common, but when it happens, it can be a harrowing experience for customers whose money is at risk. Limit your potential losses by remembering these key points of FDIC coverage.
March 27, 2023
Business leaders are at odds with the FASB over the impact of ASU No. 2023-ED100, which would drastically change the way tax and rate reconciliation figures are disclosed.
February 27, 2023
Higher costs for labor and materials are still putting a chill on profitability for many construction companies. These eight steps might seem simple, but overlooking just one could cost you money.
February 1, 2023
Just six accounting standards updates were issued in 2022, and many of those were narrow in scope. Here’s an overview of what’s changed and what’s ahead.
January 27, 2023
Fraud is an ever-present threat for construction businesses, both in the office and on jobsites. That’s why contractors must leave no stone unturned when trying to prevent it.
December 18, 2022
The Securities and Exchange Commission advises business owners to keep five key areas in mind when preparing 2022 financial statements.
October 28, 2022
The employee retention credit was designed to help businesses offset pandemic-related losses, but bad advice is costing employers even more.
May 3, 2022
There still may be tax-related issues on your mind after you file your 2021 return. Chief among them: which records can be discarded, how to check on your refund, and when to file amended tax returns.
April 23, 2022
Misunderstanding the complex rules of tracking employee hours can lead to errors, confusion, and wasted hours. Here are a few ways to hold the line for your next construction project.
April 6, 2022
Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.
August 29, 2021
A new FASB update helps clairfy the presentation and disclosure of contributed nonfinancial assets, including land, buildings, and other items, but it does not change existing recognition and measurement requirements for contributed nonfinancial assets.
June 19, 2020
In response to the COVID-19 pandemic, the implementation deadlines have been deferred for the updated accounting rules for current expected credit losses (CECL), but only for certain entities.
April 24, 2020
The just-passed $484 billion Interim Stimulus Plan, among other things, replenishes Paycheck Protection Program funds.
April 20, 2020
Congress provided $349 billion for PPP funds, but that money ran out late last week amid high levels of demand as the coronavirus has forced businesses to scale back or close altogether.
April 16, 2020
The IRS and the U.S. Department of Treasury have announced new ways for taxpayers to track their stimulus payment resulting from the recent CARES Act.
March 27, 2020
The CARES Act will help provide more than $2 trillion in financial aid and incentives to help businesses and individuals weather the COVID-19 pandemic, and lawmakers say there could be more to come.
February 24, 2020
Social Security contributions and 401(k) limits are among changes this year that will require adjustments by employers.
January 16, 2020
It’s a good time to start new habits – or refresh old ones. Regularly running QuickBooks reports can help you make better business decisions.
December 13, 2019
The AICPA’s Accounting Standards Board voted to finalize a revised definition of “materiality” in its professional standards. Learn what’s changing and why.
December 11, 2019
The FASB recently issued amendments to clarify five issues under its credit loss accounting standard.
December 9, 2019
Some companies fear that implementing the updated leases standard might cause some companies to trip their loan covenants. Here’s how to safeguard against this potential pitfall.
October 21, 2019
The FASB has approved proposals to delay the effective dates of its leases, credit losses, hedging, and long-duration insurance contract standards.
October 15, 2019
The U.S. Department of Labor’s final overtime rule goes into effect on Jan. 1, 2020. Will your company be ready?
October 9, 2019
Private entities and small public companies typically need longer to implement changes to accounting rules. Recent FASB proposals would help by staggering effective dates.
October 7, 2019
For years, businesses have complained that the guidance for reporting income taxes includes many mechanical rules and exceptions. But changes are coming.
September 18, 2019
If the names and Social Security numbers on your employees’ W-2 forms don’t match the government’s records, you may receive a “no-match letter.” Here’s what these letters mean and how to proceed.
September 13, 2019
The AICPA’s Auditing Standards Board unanimously voted to propose revisions to the audit standards on accounting estimates. Here’s a look at how and when estimates are used in financial reporting, and why the AICPA is revising its standards.
September 12, 2019
The FASB is considering changes to the subsequent accounting of goodwill and other acquired intangible assets.
February 2, 2019
New rules were issued that completely change how partnerships will be audited by the IRS. These rules under the consolidated partnership audit regime are effective for partnership tax years that began Jan. 1.
February 1, 2019
If you come home from business trips with a wallet full of receipts, consider entering them quickly and remotely with the QuickBooks Online mobile app.
January 15, 2019
Home healthcare providers will face changes because of new Section 199A guidelines, but those changes are based on a variety of factors, including exactly how the entity relates to “the field of health.”
January 11, 2019
The FASB is in the early stages of developing guidance for performance reporting. The goal is to make it easier for investors and securities analysts to understand how a business works using a company’s financial statements.
January 7, 2019
Most TCJA provisions went into effect in 2018 and apply through 2025 or are permanent, but two major changes affect individuals starting in 2019.
November 30, 2018
If you’re new to QuickBooks Online, there’s a lot to know about dealing with downloaded transactions right out of the gate. Here are a few tips to get you started.
August 27, 2018
Tired of repetitive data entry? QuickBooks provides a way to save time and keystrokes when you create some transactions.
June 27, 2018
What goes into medical office accounting? For starters, you can’t manage what you can’t measure, so create statements that are meaningful for the practice. That’s just one of several helpful takeaways from the monthly chat with the Nashville Medical Group Management Association.