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What Smaller Firms Can Learn from Big Firm Blunders

Mark Lee

Background In 2015 I took on a voluntary role that included responsibility for the finances of a members’ club that had long been audited by a top 20 firm. I called the audit partner to introduce myself and to mention that we would no longer require an audit. All the bookkeeping is maintained on Xero.

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When You Need to Hire a Pro: Online Accounting Service for Small Business

xendoo

It’s time to go beyond merely tracking the ins and outs of your books and to start focusing on accounting and the financial health of your growing business. Choosing an online accounting service for your small business is the best way to keep your books updated, in compliance, and thriving. But it is no small task!

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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

How do you prepare for a sales tax audit? Sales tax auditors examine federal income tax returns to reconcile the gross sales between the federal return, the sales tax return, and the sales recorded in accounting records. Authorities take audits seriously as sales and use tax revenue accounts for nearly a third of state tax revenue.

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