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The non-fungible token (NFT) remains a sizzling commodity. These digitized assets denote ownership of such collectibles as sports cards and artwork, even designer digital footwear. Two signs of the size of the sizzle: The online NFT platform OpenSea claims to be worth more than $13 billion. Some NFTs alone on OpenSea have sold for millions and in recent years the average sales price of an NFT (an admittedly volatile commodity) jumped from about $150 to $4,000.
From what to look for when hiring a Fractional CFO to when to make the hire, this article answers eight top questions we hear from startup founders. The post Hiring a Fractional CFO for Your Startup – Answers to Common Questions appeared first on Burkland.
With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax deductible, but they grow tax deferred. Earnings used to pay qualified education expenses can be withdrawn tax-free. However, earnings used for other purposes may be subject to income tax plus a 10% penalty.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Business valuators sometimes consider major events that happen after the valuation date. For example, what if a business is subsequently sold, files for bankruptcy, discovers new technological advances, or experiences a major fraud loss, data breach or natural catastrophe? Such events could potentially affect a business’s fair market value, but whether a valuator will consider a particular event depends on the facts and circumstances of the valuation assignment.
An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power.
If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax efficient since it’s taxable to you to the extent of your corporation’s “earnings and profits,” but it’s not deductible by the corporation. 5 different approaches Thankfully, there are some alternative methods that may allow you to withdraw cash from a corporation while avoiding dividend treatment.
If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax efficient since it’s taxable to you to the extent of your corporation’s “earnings and profits,” but it’s not deductible by the corporation. 5 different approaches Thankfully, there are some alternative methods that may allow you to withdraw cash from a corporation while avoiding dividend treatment.
In this episode of Cryptonomix, Mark Eckerle sits down with Seth Priebatsch, President at Groma, a full-service real estate development and management firm with a blockchain twist.
If you operate your business in multiple locations (as with retail or restaurant chains), you face some extraordinary fraud-prevention challenges. After all, you can’t be everywhere at once. And the more locations you operate, the harder they are to monitor. Without the appropriate checks and balances in place, fraud losses in one store could threaten the health of your entire company.
Business bankruptcies increased 40.4%, from 13,481 to 18,926, from 2022 to 2023, according to statistics released by the Administrative Office of the U.S. Courts. Solvency opinions may help creditors determine whether a liquidating debtor can meet repayment obligations. They also may come into play in fraudulent conveyance, bankruptcy alter ego and due diligence actions.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
Technical skills and a meticulous eye for detail have always been the bedrock of the accounting profession. Yet, amid the focus on balance sheets and financial analytics, there’s a vital element that’s often overlooked—Emotional Intelligence (EI). As we venture through the evolving landscape of modern business, the ability to adeptly navigate our own emotions and those of others has become indispensable for accountants looking to elevate their service beyond the numbers.
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to certain eligible small businesses. Claiming the credit involves complex calculations, which we’ll take care of for you. But in addition to the credit itself, be aware that there are two additional features that are especially favorable to small businesses: Eligible small businesses ($50 million or less in gross receipts for the three prior tax ye
A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit $928.4 billion by 2030, according to a report from Research and Markets. If you own your own company and travel for business, you may wonder whether you can deduct the costs of having your spouse accompany you on trips.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
A new survey by business accounting and management software maker BILL shows that small and mid-sized businesses believe innovative technology such as AI and automation are beneficial capabilities for their financial operations. The BILL 2024 State of Financial Automation Report shows they are looking to AI and automation to help them increase efficiency and empower them to redeploy staff to more strategic tasks that can foster innovation and growth.
If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher than you’d like, there might still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 15, 2024, filing date and benefit from the tax savings on your 2023 return.
The Corporate Transparency Act (CTA) has been declared unconstitutional, putting the newly finalized law in jeopardy. Beneficial Ownership Information (BOI) reporting requirements directing closely held businesses to submit personal details about the beneficial owners to the Financial Crimes Enforcement Network (FinCEN) are now in limbo as the government prepares its response to the ruling.
By Kevin Tampone, syracuse.com (TNS) The IRS is warning taxpayers that time is running out to claim a tax credit related stimulus payments distributed during the early years of the COVID-19 pandemic. For some, the deadline is coming in mid-May. The credit, known as the Recovery Rebate Credit, is aimed at taxpayers who did not get one or more of their pandemic-era stimulus checks or did not get the full amount of the payments, the IRS said.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Should you quit during busy season? It’s a question that has plagued Big 4 accountants since the dawn of billable hours. While the consensus used to be that quitting during busy season makes you a tremendous piece of s**t without exception , attitudes toward bailing at the worst possible time have changed over the years. It’s still frowned upon and considered rude but perhaps not the permanent reputation killer it once was.
In an era dominated by technological advancements, organizations must prioritize cybersecurity as a non-negotiable cornerstone of their operational strategy. Recent warnings from the FBI regarding cyber-attacks originating from nation states, particularly China, underscore the critical need for a comprehensive approach to cybersecurity that encompasses prevention, detection and response.
Financial advisors and tax professionals say many clients get too fixated on April 15 without understanding the benefits and ease of pushing back the deadline.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Ashleigh Sutter explores the challenges of transitioning from bookkeeping to tax, offering insights on starting, gaining alignment, executing, and maintaining employee engagement during change.
What is Hoops for Hope? Hoops for Hope is a March Madness bracket tournament for a great cause. What started as a small office pool has grown into a tournament that includes hundreds of the firm’s closest friends! This is the 36th year for our Hoops for Hope fundraiser, and all entry donations will support our 2024 Charity of Choice: Memory Care Home Solutions.
Alicia Katz Pollock will host QB Talks on Wednesday, March 20,2024 at 2:00 PM Eastern Daylight Time, when she presents 'Revenue Recognition' in QuickBooks Online Advanced.
Jump to: Compliance and having multiple plans Possibility of retroactive changes IRS funding may help either way Some expiring provisions may be positive The back-to-office effect Potential impact of changes Ideal situation for advisors Changes may come “late in the game” The Tax Cuts and Jobs Act (TCJA; P.L. 115-97 ) of 2017 brought about significant changes to the U.S. tax system, including provisions affecting both individ
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
I love sales. It was one of my first jobs before I went into accounting, and it was the hat that was hardest to give up when I grew my business. But so many business owners hate it. They find it unnatural, awkward and ineffective. That’s why I couldn’t agree more with Diane Helbig , internationally recognized business and leadership development advisor, when she says in a recent podcast interview , “Stop selling, because sales doesn’t work” – in the traditional sense of the word, that is.
Here's how some financial advisors have offered the two services for decades and why the rest of the industry may finally be catching on to the opportunity.
A Top Technology Initiative Article. – March 2024. As business tax season winds down in the US Market, many leading partners have contacted me for strategic technology guidance for 2024 and beyond. Unlike the old days when public practice CPAs rarely spoke to anyone but clients and other team members during tax season, it is evident that CPA firms have become year-round businesses.
The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
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