While excise or vice taxes have long been a part of the American tax landscape related to alcohol and cigarettes, the recent invention of vaping and legalization of marijuana and other substances is changing the landscape. What Are Excise Taxes? Excise taxes are taxes on specific types of consumable products such as alcohol or tobacco […]
About one million Americans file for personal bankruptcy each year, with one in 10 households having filed at some point. Given the loss of jobs, reduced income, and the coronavirus recession in 2020, those numbers could increase this year if the economic recovery is not both swift and omnipresent. There are two main types of […]
To retain clients and attract new ones, accounting firms must occasionally add new services or improve existing ones just like any other business. In this article, explore some tips to expand and improve client services to increase revenue for your accoun
The Social Security Administration recently announced 2021 increases to both benefits and the taxable wage base for FICA taxes. Increases Announced for 2021 Workers are facing a 3.7 percent increase in the taxable wage base subject to Social Security taxes, increasing the amount from $137,700 up to $142,800. This means high earners who make as […]
While the pandemic is not over, we do have some good news. There are vaccines and they will be available soon. Here’s where we are in terms of an overall plan and where states are with distributing the vaccine. Operation Warp Speed The current administration has already purchased hundreds of millions of doses of several […]
There are certain year-end financial transactions that must clear by Dec. 31 to be reported on the 2020 tax return. It’s important to take a good look at your financial portfolio in light of the plethora of unusual events that occurred this year. Now is a good time to see if you have fallen off […]
The easiest way to increase CPA profitability is simply to increase your rates or bring on more clients. In this article, consider some of the following strategies to increase your CPA firm’s profitability
Building firm capacity involves numerous strategies that are designed to make your firm more adaptive and responsive to today’s changing conditions. In this article, we give you four concrete methods for building capacity.
As a busy accounting firm, your decision to take on more work is a double-edged sword. Your firm’s “Capacity” has a direct effect on both customer satisfaction and your bottom line. Therefore, accurately assessing your capacity and determining how much an
The stock market continues to perform with relative resilience, despite the current economic decline. But to be clear, without 100 percent participation in the economy… More details click here
