Try These Tactics to Get Your Accounting and Finance Teams Working Together ASAP

  Accounting and finance teams cannot work in a bubble. Given the fast pace of change and the need for accuracy, timeliness and compliance, you must cultivate a team that works like a well-oiled machine. That is a feat far easier said than done for most managers, however. If your group could stand to engage…

Payroll Tax Compliance: What Happens During Bankruptcy?

The case of Pitts v. United States is a good reminder for all business owners that company structure and payroll taxes can come back to bite you in the proverbial posterior if you don’t pay close attention to what’s happening around you.   Pitts v. United States: Personal Liability For Company Taxes The case of…

S Corp or LLC: How do You Prepare for the End of the Year?

In November and December, we spend a lot of time in our personal lives making lists and checking them twice. This is also the time of year when accounting departments start gearing up for tax preparation.  The best way to ensure you dot every “i” and cross every “t” in order to stay compliant is…

Is Your Company Using Pre-Tax Spending Accounts To Everyone’s Benefit?

Though US economy is officially in recovery mode, austerity still rules the day for both businesses and their employees. Wages are stagnant, increased regulations have sent health insurance premiums through the roof, childcare costs are skyrocketing and people are always looking for ways to stretch their income as far as it will go.   There…

Overtime Laws Have Changed: Is Your A&F Team Ready?

  On December 1, 2016, the new overtime rules under the Fair Labor Standards Act (FLSA) will take effect, and it will have drastic repercussions on the way you pay employees who are eligible for overtime. Is your team ready to navigate these new rules to ensure compliance while keeping an eye on your bottom…

Is Your A&F Team Keeping You Compliant With 401(k) Nondiscrimination Rules?

Despite the poor economic climate of the last decade, employees are investing in 401(k)s in record numbers. Their simplicity and rate of return make these plans attractive, as do the nondiscrimination requirements built in by the US government. These requirements ensure that everyone stands to benefit equally from investing in a plan, regardless of annual…

How To Design Financial Reports That Anyone Can Understand

Accounting and finance numbers tell the story of a company’s financial health and it is crucial for key members of the organization to understand financial reports and presentations. However, numbers can also be very complicated and even boring to those who don’t work in accounting. The problem often lies in the way information is presented. …

How Accounting Can Keep Your Company Afloat During Times of Change

Accounting is a business-critical function, and it can be a key driver of success in times of change. Historical data can be utilized to plan future strategies and keep the company in good financial standing, even in the face of uncertainty like rapid growth, mergers and acquisitions, and even scaling down.   Guarding Against Negative Cash…

How Accounting Managers Can Take Control of Inventory Management to Improve the Company’s Bottom Line

Accounting managers are expected to handle many aspects of an organization, especially as it relates to keeping costs down and profits up. It can be difficult to see where you can make a significant impact at times.  Inventory management is one area where careful analysis, solid systems and ongoing monitoring can yield measurable results.  …