By Todd J. Koch, CPA, MBT, CFP® Since the decision in the South Dakota v. Wayfair case, states are continuing to determine their position. Many states already had economic laws in place and others introduced hard to understand requirements which includes noncompliance penalties. There are several different factors states are considering and it is important […]
5 Simple Accounting Tips for Small and Midsize Businesses
By Kelli Lind, CPA If you’re the owner of a small or midsize business, your to-do list never ends. There are customers to serve, projects to navigate, and employees to manage. And that’s just the tip of the iceberg. There’s another checklist to think about, too—the one that includes everything you have to do to […]
3 Simple Ways to Make Life Easier During Your Next Audit
By Nate Graf, CPA “I can’t wait for our audit!”—said no one ever. Yes, as auditors, we get it: an independent audit of your organization’s financial statements is probably not an event you anticipate with glee. But with a little preparation, the audit process can be—dare we say—downright painless. Here are three simple things you […]
7 Ways to Avoid Worker Classification Mistakes
By Jason J. Loven, CPA, CCIFP® While distinctly different definitions exist for “employee” and “independent contractor,” the line between the two is often blurred. This often happens as part of an organization’s efforts to minimize obligations related to payroll taxes, workers compensation, and benefits. Not surprisingly, this rarely goes over well with the Internal Revenue […]
Are You Doing Enough to Prevent Fraud?
By Joy McAdoo, CPA “It could never happen to us.” When it comes to fraud, these are all too often the famous last words of small business owners. But fraud can happen to or within any organization. And any instance of fraud has the potential to be devastating. Thankfully, there are some fairly straightforward and […]