Pass-through entities, including partnerships, S corporations, and LLCs, can benefit from many tax advantages due to their structure, but they also encounter distinct challenges. BDO’s 2024 Tax Strategist Survey, which polled senior tax executives about their most pressing concerns and plans for the year ahead,...
Even a successful and growing small business may be asked for an audited financial statement by a banker, investor, creditor, or buyer. These third parties often want some assurance that the financial statements provided by your business are reasonably accurate and free of any major...
Do you outsource HR and IT but feel squeamish about letting someone else get too close to your numbers? You probably have a fluctuating need for a bookkeeper, an accountant, a controller, and a chief financial officer. You could hire all these people, but outsourcing...
Do you outsource HR and IT but feel squeamish about letting someone else get too close to your numbers? You probably have a fluctuating need for a bookkeeper, an accountant, a controller and a chief financial officer. You could hire all these people, but outsourcing...
For a third time in a row, KRS managing partner Maria Rollins, CPA, MST, has been named to the Accounting Power 50 list. Rollins understands the daily challenges businesses face and ensures the KRS team gets the training and resources they need to help clients...
Investors and consumers can follow some basic guidelines to avoid the traps of mental accounting. You can train yourself to think more rationally about your money and spending patterns....
ASC 842 impacts all entities that lease property, plant or equipment and report under GAAP On February 25, 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update, ASU 2016-02, Leases (ASC 842). For non-public entities, ASC 842 is effective for fiscal years beginning...
We’re on the list again! For the 11th year, we’ve received the NJBIZ Best Places to Work in New Jersey Award for companies with 15-49 employees. “We have a strong team environment, where managers spend time with junior staff, guiding them through different processes. We also...
Accounting for the growing cannabis industry is unique. Business owners must comply with strict state and federal regulations to avoid substantial penalties or even the risk of losing their business.
The potential for large cash transactions and banking restrictions common in the industry further emphasize the...
The balance sheet is a standard financial report that is often included with a business’ financial statements. It is easy for business owners to understand the profit and loss statement (P&L), which provides business revenues and expenses for a given period. The balance sheet, however,...
