Monthly Archives

February 2018

Audit & Accounting
February 26, 2018

What is job cost reporting?

Custom jobs require ongoing supervision to achieve the best financial results. Whether you’re a general contractor constructing a strip mall, a manufacturer building made-to-order parts or an architect drawing up blueprints, once a project is…
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Tax
February 26, 2018

Sec. 179 expensing provides small businesses tax savings on 2017 returns — and more savings in the future

If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind…
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Audit & Accounting
February 26, 2018

Unlock hidden cash from your balance sheet

Need cash in a hurry? Here’s how business owners can look to their financial statements to improve cash flow. Receivables Many businesses turn first to their receivables when trying to drum up extra cash. For…
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Audit & Accounting
February 26, 2018

Auditing work in progress

Financial statement auditors spend a lot of time evaluating how their clients report work in progress (WIP) inventory. Here’s why this account warrants special attention and how auditors evaluate whether WIP estimates seem reasonable. Accounting…
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Uncategorized
February 26, 2018

Big data strategies for every business

You’ve probably heard or read the term “big data” at least once in the past few years. Maybe your response was a sarcastic “big deal!” under the assumption that this high-tech concept applies only to…
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Uncategorized
February 26, 2018

Making the right choice about your office space

For many companies, there comes a time when owners must decide whether to renew a lease, move on to a different one or buy new (or pre-existing) space. In some cases, it’s a relatively easy…
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Uncategorized
February 26, 2018

Turning employee ideas into profitable results

Many businesses train employees how to do their jobs and only their jobs. But amazing things can happen when you also teach staff members to actively involve themselves in a profitability process — that is,…
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Uncategorized
February 26, 2018

Business interruption insurance can help some companies

Natural disasters and other calamities can affect any company at any time. Depending on the type of business and its financial stability, a few weeks or months of lost income can leave it struggling to…
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Uncategorized
February 26, 2018

Light a beacon to your business with a mission statement

Every company, big or small, should have a mission statement. Why? When carefully conceived and well written, a mission statement can serve as a beacon to the world — letting everyone know what the business…
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Tax
February 26, 2018

Claiming bonus depreciation on your 2017 tax return may be particularly beneficial

With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, enhances…
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