Why a Small Business Should Have a CPA

Why a Small Business and Start-up Companies Should Have a CPA Accountants can assist with all stages of your small business.   Most entrepreneurs don’t realize the value a CPA can add to their business; accountants are not just for preparing…

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The Impact of New FASB Lease Requirements

New Lease Requirements for Lessees Scandals in the last several decades, such as Enron, have caused accounting organizations throughout the world to take a look at the way leases are reported or not reported on the financial statements. As a…

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Are Gifts to Employees Taxable?

Did you know certain gifts are taxable income to the employees, which can irritate your employees and defeat the purpose of your gifts?  Also there are reporting requirement for the business.  If a gift is taxable income for employees, the…

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Overhead versus G&A Indirect Costs

Is there an important difference between a general and administrative (G&A) expense and an overhead (OH) expense?  Do these indirect costs really matter?   The answer is yes if you want to remain a government contractor and avoid issues with DCAA.  …

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Retro Pay or Bonus?

How many times have your government contracts received approval for rate changes after the employees have been paid? This causes payroll dilemmas for many government contractors. Your employee worked 50 hours on a project at the old rate, but a…

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How to Survive an Audit

Just the idea of being audited by the IRS strikes fear into the hearts of most small business owners. Some peace of mind should be found in the fact that audits are pretty rare for one simple reason: money. The…

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How Modern Technology Has Changed Accounting

The accounting industry has changed dramatically over time with advances in technology. While we may immediately think of the computer, the first real improvements in accounting technology took place several decades ago when numbers no longer needed to be added by hand. After…

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