Category Archives: Cash & Financial Statements

How do I improve my finances? Creating a more profitable business

Becoming profitable is what transforms your business from ‘just coasting’ to ‘driving at full speed’. And as we said in our last blog post, the first step in improving your profitability is stopping to ask Where am I now, and how healthy is my business?. That health check process tells...
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IRS responds to expanding sharing economy with new resources

The IRS launched new online resources for service providers and participants in the sharing economy. Advances in telecommunications have fueled the growth of the sharing economy. More and more consumers are connecting with service providers for shared car services, apartments and rooms for short-term rentals, and some employment opportunities. Tax...
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Employers, payroll providers prepare for accelerated filing deadlines

The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) accelerated the due date for filing Form W-2, Wage and Tax Statement and Form W-3, Transmittal of Wage and Tax Statements, and any returns or statements required by the IRS to report nonemployee compensation to January 31. The change...
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How do I? Substantiate meal expenses using the per-diem rate method?

An employee or self-employed individual is allowed a deduction for the costs of meals and incidental expenses while traveling away from home for business purposes. The deduction of these costs usually requires the substantiation of the costs. However, there is an optional method provided for these taxpayers that avoids keeping...
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5 reasons why a ‘recovering accountant’ is great for your business

We are recovering accountants. There, I said it. We’re proud to say that we don’t fit the stereotype you might have of fussy, unhelpful, number-obsessed people in the accountancy industry. We very definitely are NOT like Rick Moranis’s Louis Tully character in ‘Ghostbusters’, you can be sure of that. Why...
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