Advice for Businesses

Your financial statements are key to showing the state and solvency of your business. When you need to borrow money, look for investors for expansion, or take your company public, your financial statements and accounting methods will be reviewed. An accurate view of your company’s numbers is critical for lenders and investors in determining whether […]

The two most common types of accounting are cash and accrual. They each have their own strengths and weaknesses, which is why many businesses use a combination of the two methods. The basic idea of cash accounting is straightforward: revenue is recorded when money comes in, and expenditures are recorded when money goes out. This […]

Don’t buy an existing business without a business purchase agreement. Learn why this document is so important to protecting your interests.

Over the last few weeks, the IRS has been issuing news releases stating that employees should check their withholding…soon. There seems to be a lot of urgency in these notices, don’t you think? While it’s always good to check your withholdings from time to time, the IRS almost seems nervous about 2018 withholdings. Find out why.

My CPA firm wants me to sign a representation letter. What do they think I am? A lying skunk? I remember being an entry level staff accountant and one of our audit clients asking me if we were going to require him to sign a liar’s letter. After all, didn’t we think that he was […]