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From Panic to Planning: Taking Control of Your Burn and Runway

Basis 365

Without this, you’re not just guessing your future, you’re gambling with it. Your runway depends on how well your forecast accounts for contract timing, pipeline strength, and delayed payments. Professional Service Firms Often, you hire before you earn. You onboard talent today to serve clients tomorrow. We’re financial copilots.

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Flying Blind: The Real Cost of Not Knowing Your Numbers 

Basis 365

TLDR; Key Takeaways Financial visibility is more than bookkeeping, it means having real-time insight into cash flow, burn, and forecasting. Here’s the thing, bookkeeping is not the same thing as financial visibility. Sure, bookkeeping is necessary. You're gambling. What Is Financial Visibility, Really? You're guessing.

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In the blogs: It is done

Accounting Today

EDT 2 Min Read Facebook Twitter LinkedIn Email OBBBA and gambling; a billing lesson from bookkeeping; BOI 2.0; Taxable Talk ( [link] ): Why the Senate version of Beautiful was actually bigly ugly towards gambling. and other highlights from our favorite tax bloggers. Tax strategies for law firm partners.

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Tax Tips for Accountants With Gambling Clients

CPA Practice

The legalization of sports betting and online gambling has led to an explosion in gaming across America. With millions trying their luck, complex tax rules for reporting and deducting gambling winnings and losses present new challenges for taxpayers. Gambling losses can be deducted above the line as business expenses.

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How Shohei Ohtanis’ Interpreter’s Theft of $16.5 Million Occurred and Went Undetected for Years

Withum

According to a federal indictment and a guilty plea, Ippei Mizuhara, Shohei Ohtani’s interpreter, unlawfully transferred more than $16 million from Ohtani’s bank account at a bank in Arizona to pay his gambling debts to an illegal bookmaking operation. During the account setup, Mizuhara translated for Ohtani.

Gambling 105
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Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

TPB slaps 5-year ban on accountant involved in $26m fraud [ Accountants Daily ] The Tax Practitioners Board has slapped a five-year ban on a Sydney accountant charged with stealing $26 million through his firm to fund a lavish lifestyle and gambling addiction.

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Friday Footnotes: An Outsourcing Shortage Now Too?; Finally, Some Disruption; PwC Haters Celebrate Government Inquiry | 3.17.23

Going Concern

The demand for virtual bookkeeping assistants are on the rise, as these professional independent contractors can remotely manage the day-to-day finances of a firm, such as preparing balance sheets. So that’s not a scripted set of results, yet it is known prior to the event, and gambling is legal on the Oscars.