Does your business not function as efficiently as you would like? Now is the time to assess your current business setup and improve productivity from both manager’s and employee’s perspective. Improving Productivity from a Management Perspective Review and Improve Technology As a business owner, you are constantly busy with running your business. This can cause […]
IRS Wants to Send You a Refund for Filing Late
If you filed late during the pandemic, that is! If you — or a business you own — paid a penalty for filing late tax returns for 2019 and 2020, you will automatically receive a refund from the IRS! So What’s the Deal? The government forecasts refunds totaling more than $1.2 billion from failure-to-file penalties […]
New Business Startup Costs Pose Special Accounting Perils
Any entrepreneur who has started a business, or is contemplating starting a business should understand about startup costs. All new businesses incur costs before they begin active business operations. Typical startup costs include market analysis, due diligence to investigate whether to acquire a particular business or franchise, or construct a venture from scratch, and the […]
Student Debt Forgiveness — An Accountant’s Eye View
Student loan relief, federal student debt forgiveness, student debt cancellation, student loan forgiveness plan… the media have been splashing around lots of labels for this hot topic — and lots of buzz with the splash. Even without the hype, this topic has certainly captured a lot of attention from the accounting staff at Baum CPA […]
Congress Finally Gets Their Act Together — With the Inflation Reduction Act of 2022
Whenever congress passes a new tax law, I become a slightly more popular person. What I mean is that taxpayers look for reassurance when the government tinkers with the tax code — and as a vigilant and diligent CPA, people often call me for tax advice and reassurance on their tax issues. Now it seems […]
Improving Cash Flow Strategies for a Cash-Strapped Business
Cash is critical to the functioning of every business. Maintaining a healthy cash flow allows a company to meet its financial obligations and gives it flexibility to take advantage of emerging opportunities. Small businesses often find themselves in a cash crunch, struggling to pay the bills and stay afloat — never mind having cash available to […]