Insights & Updates
Latest News and Expert Insights
Why Simpler Accounting Standards Create Better Results
Although complexity and accounting standards go hand in hand, Edward W. Trott, a former member of the Financial Accounting Standards Board, says that for the most part, “complexity in accounting standards is unnecessary.” (Trott was a member of the FASB
The Overlooked Value of a Buy-Sell Agreement
While opening a business is thrilling, this excitement sometimes prompts owners to proceed with little more than a handshake. Such an approach leaves significant legal and tax issues unresolved. A buy-sell agreement is one of the most important tools for
Avoid Penalties with Better Tax Planning
All businesses have tax filing and compliance obligations, but whether any tax is owed — and which taxes apply — varies by business type and activity. For federal tax purposes, common categories include income tax, estimated tax, self-employment tax, employment
Avoid Costly Mistakes With Better Payment Controls
As small businesses head into the fall season, it is a smart time to review financial controls and reduce the risk of wire fraud and phishing scams. Fraud attempts often increase when teams are busy, schedules change, and employees are
Three Contracting Scenarios You Need to Understand
1. Scenario: A competitive solicitation is released as a small-business set-aside, specifically as a Woman-Owned Small Business (WOSB). The Government does not receive any proposals. Question: Will the solicitation be released as full and open? Answer: Yes, if the Government
Four Tax Strategies Businesses Should Consider Now
The beginning of the fourth quarter is a useful time for businesses to review their current tax situation and consider what they are doing, or could be doing, to reduce their tax liability for the year. Even with so much