One of the biggest trends in the accounting world in recent years is backing up client’s data offsite. This solution is also known as cloud data storage. The slogan that best defines this migration to the clouds is “redundancy is
The youngest of the Baby Boomers are celebrating their 50th birthdays this year and many are realizing that they have very little (if anything) set aside for retirement. Social Security is likely to still be there in 15-20 years, but
In an era of corporate downsizing and economic uncertainty, freelancing is on the rise. Many companies are hiring freelancers to do work once done in-house. Businesses benefit by not having to pay employee-related expenses (such as health insurance and workman’s
Countless Americans die each year without a deliberate estate plan and when that happens, their family members wake up to the reality that they have very little control over the distribution of their loved one’s assets. Many people believe that
If you are operating any kind of business with employees, you will need to apply for a federal Employer Identification Number (EIN). If you are not planning on hiring direct employees within the next 12 months, you may still be
Since the financial crash of 2008, there is a growing trend in corporate America. Companies of all sizes are searching for ways to do more with less. Efficiency is the name of the game, and many jobs that were once
The Foreign Account Transactions Compliance Act (FATCA) was fully implemented by the IRS on July 1, 2014. After four years of delays, the IRS is now requiring all foreign banks to report accounts held by U.S. taxpayers with an average
Telecommuting is one of the fastest growing employment trends of the 21st Century. Whether you are an entrepreneur or employee, technology now allows many jobs to be performed efficiently and more cost-effectively from home. However, telecommuting is an adjustment from
Complying with generally accepting accounting principles (GAAP) is becoming increasingly challenging for private entities. But this year, the Financial Accounting Standards Board (FASB) has released two updates that allow alternative reporting methods in cases involving goodwill following a merger and
In addition to being the month when we celebrate our nation’s independence, July is also National Anti-Boredom Month. Occurring in mid-summer, July is that ‘in-between’ month when most graduation celebrations are completed and it is a little too early to
