Audit disclosures: Why the fine print is important
Footnotes appear at the end of a company’s audited financial statements. These disclosures provide insight into account balances, accounting practices and potential risk factors — knowledge that’s vital to making well-informed lending and investing decisions.
How to recruit when job candidates have the upper hand
The Great Resignation hasn’t been so great for not-for-profit organizations. As many for-profit businesses — particularly in traditionally low-wage industries — have raised pay and hiring incentives, nonprofits have lost staffers.
How Entrepreneurs Must Treat Expenses on their Tax Returns
Entrepreneurs are often unaware that many expenses incurred by start-ups can’t be deducted right away. Keep in mind that the way you handle some of your initial expenses can make a large difference in your tax bill. When starting or planning a new enterprise, keep these factors in mind.
SEK Wins 2022 Best of Accounting Award for Service Excellence
FOR IMMEDIATE RELEASEFebruary 1, 2022 SEK Wins 2022 Best of Accounting Award for Service Excellence
Does your trust need protection?
Designing an estate plan can be a delicate balancing act. On the one hand, you want to preserve as much wealth as possible for your family by protecting it from estate taxes and creditors’ claims. On the other hand, you want to have some control over your assets during your life.
Keeping meticulous records is the key to tax deductions and painless IRS audits
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled.
Smooth sailing: Tips to speed processing and avoid hassles this tax season
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are two quick tips to help speed processing and avoid hassles.
What your nonprofit needs for a successful capital campaign
Many nonprofits have put major purchases and other ambitious initiatives on hold during the pandemic. But if you need to buy or expand a facility, purchase expensive equipment, or seed an endowment, your organization may not want to wait any longer.
How to automate email reminders for overdue customers
One way to keep your company’s cash flow positive is by sending email reminders to overdue customers. QuickBooks Online can automate this.
Preparations vs. compilations
Your business needs financial statements so management can monitor performance, attract investment capital and borrow money from a bank or other lender. But not all financial statements are created equal. Audited statements are considered the “gold standard” in financial reporting.