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For many retailers, January isn’t just the first month of the year: It’s “return season,” when customers bring back their unwanted holiday gifts for refunds or exchanges. Return season can be fraught for businesses if, for example, a higher percentage of gifts are returned than stores expect. According to the National Retail Association, consumers are expected to have returned more than $816 billion of merchandise (almost 17% of goods sold) in 2022.
The goal of minimizing tax liability likely drives a desire to discover new advantages in the tax law. If this sounds familiar to you, when planning for the upcoming tax year, a great place to start is with the basics. We can help. As you navigate our complicated tax code, you need a partner and important information in order to make the appropriate adjustments.
Being an accountant means that work often comes in ebbs and flows. The tide moves in every quarter, and there is always tax season. It’s stressful; that’s just part of the business, right? Maybe. Yes, stress is expected, but burnout is entirely different. [From the Thomson Reuters blog. Republished with permission.] What is burnout? The fight against burnout starts with managing stress.
You ever been in a position where you’re juggling a few different offers from roughly equivalent firms? Of course you have. What factors do you consider when making this important decision? Salary, obviously. Culture, perhaps. Was the guy who interviewed you a dick? That definitely rates. What about commercial real estate? Anyone? MCM CPAs & Advisors LLP has, to my knowledge, never been mentioned on this website in the 14 years we have existed.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
There are many interesting changes in business taxation for the 2023 season! Since tax planning for businesses is an important part of our practice, there are several things we need to be aware of.
So you have a great business idea and are convinced you can make it work, but you don't have much capital to get your business off the ground. Juggling existing financial commitments such as a mortgage or bank loan could put a squeeze on your business plans. Many entrepreneurs use creative thinking and shrewd planning to get businesses off the ground with the smallest budgets.
6 min read Creating a more successful and efficient sales funnel can increase your business's ROI on marketing dollars by cutting customer acquisition costs and increasing customer lifetime value. But what is a sales funnel and how can you improve yours?
6 min read Creating a more successful and efficient sales funnel can increase your business's ROI on marketing dollars by cutting customer acquisition costs and increasing customer lifetime value. But what is a sales funnel and how can you improve yours?
Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review BooXkeeping , a nationwide provider of affordable outsourced bookkeeping services to small and medium-sized businesses. Click here to visit the podcast page.
Firms are now turning to audit talent with new skillsets to help them navigate new challenges. From data analytics and management to cyber security and risk assessment, today’s auditors are expected to be well-versed in a variety of disciplines. As the demand continues to grow, let’s take a look at the changing face of talent within the profession and what it means for firms looking to stay ahead of the curve.
Tax duties are unique and essential for businesses to carry out to ensure they are legally compliant. Accounting and bookkeeping must always be performed properly and reliably to ensure accuracy during tax time. Professional accounting and tax services can help businesses ensure they remain compliant while helping them optimize their payment obligations, but do all businesses need these services?
By Brendan Case, Bloomberg News (via TNS). Walmart Inc., which became the world’s largest retailer by serving everyday shoppers, is now targeting a larger share of business customers with a website aimed at small and midsize companies. The initiative, called Walmart Business , is designed to offer a one-stop shop for office supplies, furniture, food and electronics, Ashley Hubka, the senior vice president managing the program, said in an interview.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
A chief financial officer (CFO) is a top-level executive who, as a financial controller, handles everything related to cash flow and financial planning. A CFO is often the highest financial officer in an organization and plays a vital role in the company’s strategic initiatives. The CFO is also in charge of taxation issues. The CFO of a company plays a significant role in the business’s sustainability and success.
You want to build a relationship with each and every one of your accounting clients. To do that, you need strong client communication. But when you’re juggling dozens or even hundreds of clients, effective communication is easier said than done.
Menzies LLP - A leading chartered accountancy firm. Menzies are often appointed by the Finance Directors of large companies and groups to work alongside their existing auditors. This may be for a variety of reasons such as: The auditors being ‘conflicted out’ of providing certain services; Delivering a more cost effective and responsive solution for the business; Relieving compliance pressures on the in-house team; or Removing the reliance on just one firm of advisers.
Practice Management How firms use stay interviews to boost retention [ Journal of Accountancy ] Job interviews have long been an essential part of the hiring process. But now, some public accounting firms are turning the lens on themselves. They’re conducting “stay” or “retention” interviews with existing employees. The goal is to understand how they can be a more attractive workplace and reduce employee turnover — a top issue for many public accounting firms. ̶
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Default dead or default alive. The very title of the article might remind us of Schrödinger’s cat experiment and there’s a certain degree of similarity between a cat that might be either dead or alive in the box until we open it and a business that’s default dead or default alive until we know the numbers. “Is your business default dead or default alive?
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