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Fraud is costly for all victimized companies, but it’s even worse in the construction sector. According to the Association of Certified Fraud Examiners’ Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse, construction companies affected by fraud lose a median $200,000 per fraud incident, compared with $125,000 per incident for all organizations.
In not-so-recent history, outsourcing services such as bookkeeping or accounting was perceived as limited to just the basics—data entry, processing reports, and automated functions. While some companies, such as our own AccountingDepartment.com, went well above those limitations by engaging trained professionals and full accrual accounting, the fact is that capabilities have evolved alongside both training and technology.
TaxConnex is proud to announce that last Sunday, August 8, TaxConnex founder and CEO, Robert Dumas, was interviewed on the Kathy Ireland show as branded content! Robert was able to highlight TaxConnex’s unique offerings to businesses looking to outsource sales tax compliance. There are still many businesses who don’t understand all the complexities surrounding sales tax or that they even have an obligation.
For any business, the worst thing that can happen is that you can find yourself in a 911 urgent tax help situation. The IRS is known to be the toughest and most ruthless of all collection agencies on the planet. If you ever find yourself in trouble with the IRS, never consider going it alone. There are always avenues for you to turn and they do allow you to have a representative on your side.
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.
Anupam Rastogi transformed his passion for building and scaling startups into a career in venture capital over a decade ago. He saw venture as a way to bring his skill Read More. The post Anupam Rastogi Shares Insights on Today’s Startup Landscape from an Early-Stage VC appeared first on Burkland.
You know that paying someone comes at a cost. In addition to giving employees their paychecks, you also have the cost of payroll taxes. So, how much does an employer pay in payroll taxes? Keep reading to learn more about the employer cost of payroll taxes. How much does an employer pay in payroll taxes? […] READ MORE.
You know that paying someone comes at a cost. In addition to giving employees their paychecks, you also have the cost of payroll taxes. So, how much does an employer pay in payroll taxes? Keep reading to learn more about the employer cost of payroll taxes. How much does an employer pay in payroll taxes? […] READ MORE.
8 min read. With COVID hot spots once again dotting the world map and U.S officials rolling out restrictions on social distancing, business owners should be considering what they can do now to prepare for the possibility of a second COVID shutdown.
As a small business owner, there are many decisions you will need to make that will impact your company for years to come. Among these decisions is which corporate entity is best for your business. In this blog, we will review 5 different types of business entities along with their advantages and disadvantages so you can decide which works best for your business.
Cathy Becker, CPA, Senior Controller and Project Manager here at AccountingDepartment.com, joined up with the Jirav team last week at AICPA's Engage 2021 event in Las Vegas, NV. Last fall, the AccountingDepartment.com team discovered Jirav to assist with our budgeting and forecasting needs. As part of our implementation preparation in January of 2021, we discovered that Jirav also offers an in-depth dashboard and reporting , which we elected to use for ALL of our ADC clients.
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.
Good business bookkeeping is vital for any successful company, both for legal and financial reasons. Accurate information from bookkeeping is not only necessary to know where your business stands financially at a given moment, but it is also essential for strategy planning, managing cash flow, and predicting profitability. . There are a lot of reasons why business bookkeeping is useful.
Keith’s hard work and dedication to the needs of his clients have been hallmarks of his time at KROST, and as the industry leader for KBI he has taken his client service to the next level. In implementing KBI, Keith and his team of analysts have leveraged raw data from client systems into dynamic reports that provide real insights catered to the Company and their industry.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
8 min read. When leading an engineering consulting firm, it's only natural to want to focus on what you do best – helping businesses meet their design and construction needs.
Shrago v. UNUM Life Ins. Co. of Am., 2021 WL 3188320 (D. Md. 2021). Three coworkers purchased individual disability coverage through an insurance broker. At the broker’s suggestion, the coworkers agreed to have their separate policy premiums billed on a single annual invoice in exchange for a premium discount. After one of the three became disabled, the insurer approved only limited benefits.
One of the biggest challenges for many small business owners, particularly in the initial and growth stage, is ensuring that they maintain sufficient cash flow. Many businesses with great potential have suffered an untimely demise due to their inability to pay their suppliers, employees and revenue agencies. In many cases, this can be prevented through a better understanding of your small business’ cash flow requirements and making sure that you implement relevant processes that can handle cash
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
Today, we are learning all about trademarks. . What are trademarks? What are the common trademark misconceptions? Is it even worth trademarking your name and if so, what are the exact steps you need to take to get a trademark? Keep reading because in this post, we’re going to uncover everything you need to know about how to trademark your business.
I spoke to a friend that was somewhat upset because his cleaner closed last week. He used them for over 25 years. It was very convenient and he got into a routine where he would drop off and pick up his cleaning and laundry, get some bagels if he was there in a morning, or a pizza if he stopped off on the way home from work. There was a drug store in the strip center and he would occasionally stop in there.
IRS Employee Plans News (Aug. 6, 2021). Available at [link]. The IRS has announced that certain retirement plans adopted retroactively for the 2020 taxable year will not be required to file Form 5500 for 2020. For plans adopted for taxable years beginning after December 31, 2019, the SECURE Act permits employers to elect to treat a plan adopted after the close of a taxable year as if it had been adopted on the last day of the taxable year, provided the plan is adopted by the due date (including
We really loved watching the Olympic games the past few weeks. There was so much to see, be inspired by, and even something to learn about growing a small business. Yep, you read that right. Hear me out…. It’s so hard to appreciate the amount of training and work that goes into one ten-second race. We here in Skagit County only get to see the ten seconds.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Look, taxes are the single greatest expense that most people will pay over the course of their lives. Not your dream house, not your dream car, or any other tangible thing you can put your hands on. It’s taxes. . Believe it or not, taxes are evading almost every single part of your life. You pay taxes on your income, on your purchases, the property you own, and so much more.
Change is the one certainty in all industries. Progress in technology, changes in policy, and changes public opinion are a few of the factors that impact CPA firms and how they work within their team and with clients. . Many preventative measures can be taken to ‘future-proof’ your firm, making certain you will not be left behind as changes occur.
What Does a Controller Do? Almost like a doctor, they understand and protect your organization’s financial health. A controller takes a broad view of your business’s accounting processes. They develop and implement policies and procedures for your bookkeeping/accounting staff to follow to ensure that financial data are recorded accurately and in a timely fashion.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
How to raise money for a new business? So, what do you do when you have an amazing business idea, but no money to fund it? Well, unless your uncle is someone like Warren Buffet then you’re going to have to figure out how to raise capital. . And of course, raising money is one of the biggest challenges any new or established entrepreneur may face. . But spoiler alert: while raising money may seem difficult, there are more ways than ever before to get funding for a business, and getting capital is
Understanding tax basis is key to maximizing tax deductions, especially for shareholders or partners involved in an S corporation or partnership. Tax basis refers to the amount that a taxpayer has invested in business assets, calculated by taking the purchase price and subtracting any accumulated depreciation. This value will determine the gain or loss when […].
A couple of weeks ago, singer Kelly Clarkson was ordered to pay her soon-to-be ex-husband Brandon Blackstock $150,000 per month of spousal support (alimony) and $45,601 in child support. Some people are criticizing this award and referring to it as “manimony.” This order of the court is temporary, but will total over $2.3 million per year if it continues for the long term.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
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