Minimizing legal risks to your business has always been important. However, with so much uncharted territory and change within the current environment, it has become especially critical to look out for situations that could become problematic liability issues for your firm.

Stephen Covey once said, “If there’s one thing that’s certain in business, it’s uncertainty.”

That has never been more accurate than now. With the coronavirus pandemic persisting, nearly every company in every business sector faces uncertainty. As accounting professionals, these times of uncertainty bring a double dose of challenges your way:

• Your own […]
  

As far back as October 2019, half of Americans were already concerned a major recession was on the horizon and now that concern has become a reality, according to top economists. According to the National Bureau of Economic Research, the U.S. economy actually stopped growing in February this year, following an economic expansion that lasted more than 10 years. And, it all happened fairly quickly as the COVID-19 pandemic effectively shut down the economy and compounded unemployment.

So, it’s not at all surprising your accounting clients are worried about the recession. It’s up […]

Your business clients are dealing with a barrage of information as the coronavirus pandemic evolves. The deluge of new requirements, rules, and recommendations related to COVID-19 has become overwhelming for many entrepreneurs. As a result, some of them may have temporarily lost sight of their ongoing business compliance filings.

They need your help!

Fortunately, many state governments have deemed professional services providers in the financial and legal industries as essential. Even if your business is under stay-at-home orders, you have ways to serve your clients remotely by embracing technology tools, like video conferencing. This […]

The Tax Cuts and Jobs Act (TCJA), made tax law changes that affected every business. Deductions, depreciation, tax credits, and corporate tax rates will make filing taxes different for you and your clients this year. Generally speaking, most of your business clients will do well under the TCJA, but there are a few tax breaks that have been lowered or eliminated. Here’s what you need to know.

Changes for Corporations

Corporations will feel the biggest impact from TCJA, primarily in a positive way. Pre-TCJA, corporate tax rates were similar to individual tax rates, in […]