A few years ago, I spoke to the managing partner of a midsize accounting firm who I met at an accounting group conference. “So, what is the big future-readiness challenge that you’re facing, John?” I asked. His answer: “As a midsize firm, we don’t have time to think about future
In addition to addressing immediate needs, the American Rescue Plan intends to bolster future economic growth. It signals a shift away from stopgap measures and toward long-term planning and policy changes, a move states are starting to make, too. Former President Trump marked the end of his presidency by signing
On March 12, 2021, the Small Business Administration (SBA) announced that borrowers have until 2022 to meet their obligations under the COVID-19 Economic Injury Disaster Loan (EIDL) program. Borrowers will resume their regular payment schedule with the payment immediately preceding March 31, 2022, unless the borrower voluntarily continues to make
This week, payroll and HR provider OnPay launched The Ledger, a new resource center to help accountants and bookkeepers better serve their small business clients. OnPay’s internal research shows that more than 60 percent of small business owners consider their accountant to be their most trusted business advisor. To make
With the recent explosion of remote work due to the COVID-19 pandemic, qualified accountants have more opportunities than ever before. Remote work allows organizations to tap into talent across the nation. It’s broadened candidate pools and increased market competition for top talent. This allows highly qualified candidates to secure higher
At some point, your small business clients may find that the entity type they chose initially may no longer serve them well. As companies grow and evolve, their needs and priorities may change. How can you help your clients assess their situation and determine whether their current business structure is
After contentious debate in Congress, President Biden finally signed the $1.9T American Rescue Plan (ARP) into law on March 11. The final version of the American Rescue Plan contains a bevy of tax-related provisions for individuals. Here are six tax breaks of particular interest to many taxpayers. 1. Cash
Fujitsu Computer Products of America, Inc. has introduced its ScanSnap iX1600 now with ScanSnap Cloud, which with a variety of popular cloud services for accounting firms and business ScanSnap customers. This offering allows users to digitize, save and organize documents, business cards, receipts, photos and more to the cloud service
President Biden spoke of reducing the gift tax exemption levels to $3.5 million, perhaps even $1 million for lifetime transfers, plus an increase in the top tax rate to 45 percent. Even under current law, the post-2025 gift tax exemption is scheduled to drop to $5 million as adjusted for
Good salespeople often make lousy administrators. You’ve seen it all before. A client had a great idea. They started a business. It took off. It grew and grew. The inventor has no idea how to manage a business. It’s time to introduce another of your business advisory service: Management consulting.