Category Archives: Advisory|Strategic Guidance|Value Building

What is the Home Office Deduction?

Introduction With the current norm of remote work and the increasing number of people operating businesses from their homes, the home office has become more important than ever. Beyond the convenience and comfort it offers, your home office can also be a source of potential tax savings. With the information found in this blog you

Understanding Key Performance Indicators (KPIs)

In the dynamic landscape of business management, keeping track of your progress and performance is essential for achieving your goals. This is where Key Performance Indicators (KPIs) come into play. KPIs are integral tools that help businesses measure their success and effectiveness in achieving specific objectives. KPI’s are great because they can be used to

What is the Difference Between an Audit, Review, and Compilation

Audit, review, and compilation are three different levels of services provided by accountants or auditors when examining financial information. Each level offers a varying degree of assurance regarding the accuracy and reliability of financial statements. Let’s explore the differences between an audit, review, and compilation. Compilation A compilation is the simplest and least extensive of

What is the Right Accounting Fit For Me?

When it comes to choosing an accounting firm for your business, making the right decision is crucial. Entrusting your financial matters to professionals who understand your unique needs and can help you achieve your goals is essential. In this blog post, we will explore the top questions that should be asked when selecting a new

What is A Buy-Sell Agreement? Why is it Important?

If you are a business owner, then chances are you have heard of a buy-sell agreement. What most people don’t understand is what it really is, or why it is important. Simply put, they are exit strategies for business owners. To fully understand what it is, you must know what they entail. What Is It

Should I hire a CFO or Controller

Should I hire a CFO or Controller? When it comes to managing the finances of a company, two roles that often come up are that of a controller and a chief financial officer (CFO). While these two positions may sound similar, they have distinct differences. They differ in terms of their responsibilities and the level

What Does a CPA do Outside of Taxes?

What is a CPA? A Certified Public Accountant (CPA) has a lot of different roles when it comes to their job description. Most people think that CPA’s only do taxes but that isn’t always the case. While tax preparation and planning are common areas of expertise for CPA’s, they possess a wide range of skills

Reasonable Compensation for S Corporation Shareholders

S-corporations are a popular choice among small business owners. They offer a range of tax benefits, such as avoiding double taxation and passing profits and losses onto shareholders. However, S-corporation shareholders must ensure they receive reasonable compensation for their services to the corporation to avoid triggering tax penalties from the Internal Revenue Service (IRS).  

The Basics Of Estate Tax

What is Estate Tax While only six states currently have estate tax, California is not one of them. California is not subject to state level estate tax, but it is still subject to federal estate tax. Estate tax is basically a tax on your right to transfer property at your death. Your estate may consist