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    • Cassady Schiller CPAs & Advisors
      Feb 20, 2020 | Cassady Schiller CPAs & Advisors

      How to Make the Most of Your Multigenerational Wor...

      Many of today’s businesses employ workers from across the generational spectrum. Employees may range from Baby Boomers to members of Generation X to Millennials to the newest group, Generation Z.
      Managing a workforce with a wide age range requires flexibility and skill. If you’re successful, you…

    • Cassady Schiller CPAs & Advisors
      Feb 20, 2020 | Cassady Schiller CPAs & Advisors

      FAQs about Audit Confirmations

      Auditors use various procedures to verify the amounts reported on your financial statements. In addition to reviewing original source documents and comparing trends from prior years, they may reach out to third parties — such as customers and lenders — to confirm that outstanding balances and es…

    • Cassady Schiller CPAs & Advisors
      Feb 19, 2020 | Cassady Schiller CPAs & Advisors

      Four Key Traits to Look for when Hiring a CFO

      Finding the right person to head up your company’s finance and accounting department can be challenging in today’s tight labor market. While it may be tempting to simply promote an existing employee, external candidates may offer fresh ideas and skills that take your financial reporting to the n…

    • Cassady Schiller CPAs & Advisors
      Feb 18, 2020 | Cassady Schiller CPAs & Advisors

      Reporting Contingent Liabilities

      Contingent liabilities reflect amounts that your business might owe if a specific “triggering” event happens in the future. Sometimes companies are unclear when they’re required to report a contingent liability on their financial statements under U.S. Generally Accepted Accounting Principles (…

    • Cassady Schiller CPAs & Advisors
      Feb 17, 2020 | Cassady Schiller CPAs & Advisors

      Accounting for Indirect Job Costs the Right Way

      Construction contractors, professional service firms, specialty manufacturers and other companies that work on large projects often struggle with job costing. Full cost allocations are essential to gauging whether you’re making money on each job. But some companies simply lump indirect job costs i…

    • Cassady Schiller CPAs & Advisors
      Feb 15, 2020 | Cassady Schiller CPAs & Advisors

      The Tax Aspects of Selling Mutual Fund Shares

      Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates that 56.2 million households owned mutual funds in mid-2017. But despite their popularity, the tax rules involved in selling mutual fund…

    • Cassady Schiller CPAs & Advisors
      Feb 14, 2020 | Cassady Schiller CPAs & Advisors

      Do You want to go into Business for Yourself?

      Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity.
      1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income, you are eligible to claim the 20…

    • Cassady Schiller CPAs & Advisors
      Feb 14, 2020 | Cassady Schiller CPAs & Advisors

      Do you want to go into Business for Yourself?

      Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity.
      1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income, you are eligible to claim the 20…

    • Cassady Schiller CPAs & Advisors
      Feb 13, 2020 | Cassady Schiller CPAs & Advisors

      The SECURE Act Likely to Affect your Retirement an...

      In late 2019, the first substantial legislation related to retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act brings numerous changes to the retirement and estate planning landscape, and some of them should prompt careful review of your e…

    • Cassady Schiller CPAs & Advisors
      Feb 12, 2020 | Cassady Schiller CPAs & Advisors

      Getting Help with a Business Interruption Insuranc...

      To guard against natural disasters and other calamities, many companies buy business interruption insurance. These policies provide cash flow to cover revenues lost and expenses incurred while normal operations are limited or suspended.
      But buying coverage is one thing — making a claim and receivi…

    • Cassady Schiller CPAs & Advisors
      Feb 11, 2020 | Cassady Schiller CPAs & Advisors

      There still Might be Time to Cut your Tax Bill wit...

      If you’re getting ready to file your 2019 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the Wednesday, April 15, 2020, filing date and benefit from…

    • Cassady Schiller CPAs & Advisors
      Feb 08, 2020 | Cassady Schiller CPAs & Advisors

      Answers to your Questions about 2020 Individual Ta...

      Right now, you may be more concerned about your 2019 tax bill than you are about your 2020 tax situation. That’s understandable because your 2019 individual tax return is due to be filed in less than three months.
      However, it’s a good idea to familiarize yourself with tax-related amounts that ma…

    • Cassady Schiller CPAs & Advisors
      Feb 07, 2020 | Cassady Schiller CPAs & Advisors

      Do your Employees Receive Tips? You may be Eligibl...

      Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income.
      How the credit works
      The FICA credit applies with respect to tip…

    • Cassady Schiller CPAs & Advisors
      Feb 06, 2020 | Cassady Schiller CPAs & Advisors

      Look Closely at your Company’s Concentration Ris...

      The word “concentration” is usually associated with a strong ability to pay attention. Business owners are urged to concentrate when attempting to resolve the many challenges facing them. But the word has an alternate meaning in a business context as well — and a distinctly negative one at tha…

    • Cassady Schiller CPAs & Advisors
      Feb 05, 2020 | Cassady Schiller CPAs & Advisors

      Numerous Tax Limits Affecting Businesses have Incr...

      Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income.
      How the credit works
      The FICA credit applies with respect to tip…

    • Cassady Schiller CPAs & Advisors
      Feb 04, 2020 | Cassady Schiller CPAs & Advisors

      The SECURE Act Changes the Rules for Employers on...

      The Setting Every Community Up for Retirement Enhancement (SECURE) Act is the first significant retirement-related legislation in more than a dozen years. It brings many changes that affect employers of all sizes, including some that could be particularly beneficial for smaller employers that sponso…

    • Cassady Schiller CPAs & Advisors
      Jan 29, 2020 | Cassady Schiller CPAs & Advisors

      Three Best Practices for Achieving Organic Sales G...

      Most business owners would probably agree that, when it comes to sales, there’s always room for improvement. To this end, every company should strive for organic sales growth — that is, increases from existing operations unrelated to a merger or acquisition.
      That’s not to say a merger or acqui…

    • Cassady Schiller CPAs & Advisors
      Jan 29, 2020 | Cassady Schiller CPAs & Advisors

      Three Best Practices for Achieving Organic Sales G...

      Most business owners would probably agree that, when it comes to sales, there’s always room for improvement. To this end, every company should strive for organic sales growth — that is, increases from existing operations unrelated to a merger or acquisition.
      That’s not to say a merger or acqui…

    • Cassady Schiller CPAs & Advisors
      Jan 29, 2020 | Cassady Schiller CPAs & Advisors

      Three Best Practices for Achieving Organic Sales G...

      Most business owners would probably agree that, when it comes to sales, there’s always room for improvement. To this end, every company should strive for organic sales growth — that is, increases from existing operations unrelated to a merger or acquisition.
      That’s not to say a merger or acqui…

    • Cassady Schiller CPAs & Advisors
      Jan 28, 2020 | Cassady Schiller CPAs & Advisors

      Cents-per-mile Rate for Business Miles Decreases S...

      This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-half cent, to 57.5 cents per mile. As a result, you might claim a lower deduction for vehicle-related expense for 2020 than you can for 2019.
      Calculating your…