As early as nursery school, my report cards (despite “exceeding expectations”) would always mention, “Meghan needs to keep her social interactions to a minimum.” Later, my creative side had most friends and family thinking I would go into graphic design or become an educator. I’d like to think I was
In the “old days” an awesome client experience meant a friendly front desk person to greet clients, a clean, professional office and knowledgeable caring staff who adhere to promised deadlines. These principles still apply but many of your clients might be transacting entirely electronically with you now. For this reason, firms
There are many ways to grow your accounting business, but one of the most tried and true ways remains through referrals. Referrals are generally warm leads. The amount of time needed to close these leads is usually shorter because the prospect is taking the word of someone they trust. That’s
Even as the due date for American tax filing and reporting recedes into the rearview mirror, there are still several open items and areas of ambiguity that remain unaddressed. Particularly as the volatility in the broader cryptoasset sectors continues to express itself on a routine basis – highlighted in a
For those of you who’re just joining in, part one mentioned my responses to a query from Abigail, a self-employed consultant who uses part of her home to conduct her business. Part two focused on three requirements Abigail must satisfy to qualify for home-office deductions. First, she uses a dedicated
Focused on NOLs and the differing complexity by state, Bloomberg Tax & Accounting tax experts regularly update corporate state income tax rules and regulations across 44 states, the District of Columbia and New York City. Most recently, CARES Act changes that affect tax years 2018, 2019 and 2020 were incorporated
In one of the latest examples (Gallegos, TC Memo 2021-25, 3/2/21) a taxpayer tried to deduct expenses related to team horse roping contests to offset income from an insurance business. But the IRS argued that the team roping was a mere hobby. Generally, you can deduct the “ordinary and necessary” expenses
It’s my pleasure to field the following question from a reader who reached out to AccountingWeb for information about starting a limited liability company (LLC) in the state of Wyoming. Please know that what I share here is for informational purposes only and is not intended as legal, accounting or tax
In the first article in this series, I postulated that there is no such thing as a bad client. There might be “bad fit” clients, but even those are a rarity. Instead, clients who come across as unreasonable and demanding – thereby earning the label of “bad client” – are
If and when a crisis hits, what do bookkeepers and accountants need to grab so that business/work can continue uninterrupted once we are in a safe location? This happened recently in my hometown, albeit not in my neighborhood. I realized something similar could happen anytime, anywhere, in a commercial or
