Accounting and Tax Guide
How Houston’s Real Estate Market Is Shaping Up in 2025
Also known as ‘The Bayou City’, Houston is a hub of opportunities. In fact, it is the 4th most populous city in the US! With a cost of living 6% below the US median, it is much cheaper compared to other major metros like Dallas or Austin. Strong population growth, ample jobs, and affordable housing appeals to homebuyers, investors, and professionals alike. If you're looking for homes in Houston, you must be aware of the situation on the ground. Here’s a... ❯❯❯
Finding the Right Business Broker to Sell Your Business
Selling a business is no small feat. It’s a journey filled with financial considerations, marketing strategies, and complex negotiations. To navigate this process successfully, many business owners turn to the expertise of a business broker. But what does a business broker do, and how do you find the perfect match for your needs? This guide answers these questions and provides practical insights to help you choose the right partner for your business... ❯❯❯
Accounting Essentials for Startups
By: Tymur Chalbash Starting a business is an exciting but challenging endeavor. According to the U.S. Department of the Treasury, an average of 430,000 new business applications were filed per month in 2024, bringing the annual total to over 5 million startups. This aligns with U.S. Census Bureau data, which reports an average of 4.7 million new businesses launched annually over the past five years. However, the failure rate remains high. The U.S.... ❯❯❯
How Artificial Intelligence is Reshaping the Accounting Industry
By: Tymur Chalbash Abstract This research delves into the profound opportunities and inherent challenges presented by the integration of artificial intelligence (AI) technologies within the accounting profession. In an era characterized by exponentially growing financial data volumes and increasingly complex operational landscapes, AI-driven automation emerges as a critical pathway for modernizing traditional accounting practices. This paper specificall... ❯❯❯
The Future of Blockchain in Accounting
By: Tymur Chalbash Blockchain technology, renowned for its decentralized and immutable ledger system, is fundamentally altering the landscape of financial record-keeping. As the contemporary financial ecosystem undergoes digital transformation, blockchain emerges as a pivotal innovation, redefining accounting processes by enhancing transparency, security, and operational efficiency. This paper critically examines the implications of blockchain for... ❯❯❯
Secure Your Retirement: Finding a Local Financial Advisor
Importance of a Local Financial Advisor When planning for retirement, making well-informed financial decisions is paramount. A local financial advisor can provide the personalized attention and tailored advice needed to navigate this critical phase of life. With a deep understanding of regional economic trends, tax laws, and housing markets, local advisors offer insights that are specifically relevant to your area. Their proximity makes it easier to... ❯❯❯
Financial Planning Tips for Tenants Aspiring to be Homeowners
Buying a home is still a top priority for many people and families as it is without a doubt a blessing. Moving from tenant to homeowner is a big step with many variables and financial implications, so navigating this process and planning for homeownership can be difficult. Property ownership presents unique financial obstacles, such as paying for the associated expenses, saving for a down payment, making bond repayments, and having money left over to... ❯❯❯
How to Calculate and Interpret Gearing Ratios in Trading
Understanding financial ratios is essential for traders and investors who aim to make informed decisions about the companies they are interested in. One crucial financial metric is the gearing ratio, which provides insights into a company's financial leverage and risk. This article delves into the intricacies of gearing ratios, offering a comprehensive guide on how to calculate and interpret them. Understanding Gearing Ratios A gearing ratio is a... ❯❯❯
5 Tips for Choosing the Right Executor for Your Will
Choosing the right executor for your will is one of the most important decisions you can make in estate planning. An executor ensures that your final wishes are carried out and your assets are distributed as you intended. However, selecting the best person for this critical role can be challenging. You need someone trustworthy, organised, and capable of handling legal and financial responsibilities. In this article, we’ll provide five essential tips to... ❯❯❯
Leveraging Power BI for Effective Sales Planning
In today's business world, making data-based decisions is crucial for success. Financial management, especially sales planning, relies on accurate and timely information to guide a company toward its objectives. Power BI, Microsoft's leading business intelligence tool, has become a vital resource for organizations seeking to improve their financial planning processes. Power BI helps businesses navigate complex financial landscapes effortlessly by... ❯❯❯
Ensuring Form 990 compliance - What Nonprofits Should Know
A significant advantage of nonprofit organizations is their ability to obtain federal tax-exempt status from the IRS. While they are exempt from paying taxes, they are required to annually report their activities using Form 990 to ensure compliance with IRS regulations. Timely and accurate filing of Form 990 can enhance the transparency and credibility of nonprofits, potentially attracting more donations and bolstering their reputation. Failure to file... ❯❯❯
Benefits of Outsourcing Payroll Services
If you are a small business owner and managing payroll services on your own, it may seem like an easy task. However, many demands come along with managing payroll services. Some of the demands include staying up to date with the tax deposit rules and payroll laws and filing state and federal-mandated forms on time to ensure you do not miss any deadline and get penalized for your act. Outsourcing payroll services to a reputed firm like Padgett Business... ❯❯❯
Spring Cleaning Your Finances: 5 Tips for Creating a New Budget
A budget is your key to creating healthy financial choices, and spring is the perfect time to create a new one. Whether you’re brand new to budgeting or refreshing your existing budget to meet new challenges, spending a few hours budgeting in the spring will put you in a better financial place for the remaining months. These five tips will help you spring clean your finances and start the year with your finances in the best possible order.
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2024 BOI Reporting Requirements: Your Most Common Questions Answered!
Feeling a bit perplexed by the requirements surrounding BOI reports and their implications for your business? You're not alone. As per the CTA Act, effective January 31, businesses are now mandated to submit the Beneficial Ownership Information (BOI) report to FinCNE. Failure to adhere to this could result in facing civil and criminal penalties. We've been fielding numerous questions from clients and acquaintances alike about BOI reports. Are you... ❯❯❯
Benefits of Online Business Banking
The banking world has significantly evolved from traditional brick-and-mortar branches to digital platforms, revolutionizing how companies manage their finances. This shift towards online banking is particularly beneficial for small businesses in today’s fast-paced digital economy, offering convenience and efficiency that were previously unattainable.
How can online banking help your organization? What should you look for when choosing the best bank for... ❯❯❯
S-Corporations and Partnerships Need to Know This About Form 7004
There are several reasons why it may be necessary to request a business tax extension with the IRS using Form 7004. You might require additional time to manage your business affairs during the busy tax season or find yourself lacking the necessary documentation by your original due date. A tax extension can provide the extra time needed to properly prepare and file your tax returns. Why is filing an extension a better option? Getting an extension is a... ❯❯❯
Top reasons to hire accounting services for your small business
There are many things to manage in a small business, such as day-to-day operations and customer service to increase revenue. Even if all of the stuff takes up your time, it is simple to neglect the financial well-being of your company. This is a grave error. You will eventually need to engage a specialist accountant if you want to manage and expand your firm without allowing financial affairs to get out of hand. The Bureau of Labor Statistics estimates... ❯❯❯
Demystifying Professional Accounting and CPA Services: Unveiling the Value Behind the Numbers
Accounting and Certified Public Accountant (CPA) services often find themselves shrouded in a veil of complexity and mystery for many individuals and businesses. While numbers and financial statements may seem intimidating, demystifying professional accounting firms and CPA services is essential for recognizing the invaluable role they play in financial management, compliance, and strategic decision-making.
Understanding Professional Accounting
At its... ❯❯❯
Public Sector Financial Reporting
Financial reporting plays a pivotal role in the public sector, serving as a cornerstone of transparency and accountability. Unlike the private sector, where financial reporting primarily aims to inform investors, public sector financial reporting focuses on providing a clear picture of how public resources are managed and utilized. This difference underlines the unique challenges and standards governing public sector accounting and financial reporting. ... ❯❯❯
Cost Segregation and Land Value Considerations
By Eric Wallace, CPA Tangible Property Tax Methods In order to calculate depreciation for income tax purposes, taxpayers must use the correct method (ex: straight-line, accelerated) and proper recovery period (i.e. depreciable life) for each asset or property owned. Real property, whether purchased or constructed, often consists of numerous IRS asset types with different depreciable lives. Real property is typically separated into individual components... ❯❯❯
