Accounting & Bookkeeping

  • Using your financial statements during an economic crisis

    • April 7, 2020
    • Posted by: Jason Schilling
    • Category: Accounting & Bookkeeping, Business Management, COVID-19 Updates
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    The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions. One place to look for the information you need to make rational, reasonable moves is your financial statements. Under U.S. Generally Accepted Accounting Principles, these typically comprise a statement of cash flows, a balance sheet,

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  • Vehicle mileage deduction rate increases for 2019

    • March 21, 2019
    • Posted by: Bill Jacob
    • Category: Accounting & Bookkeeping, Tax
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    Just about every family-owned and closely-held business relies on vehicles to get things done. From company cars for the bosses to service vehicles and delivery trucks, and of course your employee’s cars being utilized for business purposes, these vehicles can add up to be a considerable expense of the course of the year. Thankfully, the

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  • Do you own business real estate? These Depreciation-related breaks may help you.

    • March 21, 2019
    • Posted by: Ryan Carriere
    • Category: Accounting & Bookkeeping, Tax, Tax Legislation
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    One of the benefits of owning a commercial building has been provided by the tax code in the manner of depreciation write offs. While commercial buildings and improvements generally are depreciated over 39 years, special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments. Unfortunately, land is

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  • Wayfair Decision Update: The States React

    • February 6, 2019
    • Posted by: Jen Gostovic
    • Category: Accounting & Bookkeeping, Tax, Tax Legislation
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    Since the June 2018 Wayfair vs South Dakota Supreme Court decision, states have begun adopting new and differing rules for collecting their share of sales tax from businesses in other states selling locally. The result is a complex matrix of collection requirements on the part of businesses selling to customers across state lines, particularly sales

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