The Untouchables: Getting a Handle on Intangibles

The average company’s balance sheet understates its value by 80%, according to Sarah Tomolonius, co-founder of the Sustainability Investment Leadership Council. Why? Intangible assets aren’t recorded on the balance sheet under U.S. Generally Accepted Accounting Principles (GAAP), unless they’re acquired [...]

By |2019-08-23T14:22:08-04:00August 23rd, 2019|Categories: Blog, Tax|0 Comments

Should You Elect S Corporation Status?

Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the federal level). Self-employed people may also be able to lower their exposure to Social Security [...]

By |2019-08-19T15:02:06-04:00August 19th, 2019|Categories: Blog, Tax|Tags: |0 Comments

What to Expect During a Franchise Audit

It’s important for franchisors to periodically audit individual franchisees. These routine “check-ups” are especially valuable in a store’s early years of operations or if performance starts to deteriorate. They can be used to detect symptoms of unhealthy performance and treat [...]

By |2019-08-19T14:58:11-04:00August 19th, 2019|Categories: Audit, Blog|Tags: |0 Comments

What To Do If Your Business Receives a “No-Match” Letter

In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if there’s a discrepancy between the agency’s files and data [...]

By |2019-08-13T12:31:28-04:00August 13th, 2019|Categories: Blog, Small Business Services, Tax|Tags: |0 Comments

Reporting Discontinued Operations

Financial reporting generally focuses on the results of continuing operations. But sometimes businesses sell (or retire) a product line, asset group or another component. In certain situations, such a disposal should be reported as a discontinued operation under U.S. Generally [...]

By |2019-08-13T12:22:13-04:00August 13th, 2019|Categories: Blog, Tax|Tags: , , |0 Comments

AI and the Future of Finance

By Jade Cole, CTO, Limelight Software Artificial Intelligence (AI) has become one of the hottest topics. So how does AI fit into Finance? As a field that is focused on executing strategies with wide-reaching impacts, the addition of AI [...]

By |2019-08-09T17:56:47-04:00August 8th, 2019|Categories: Blog, Cloud Technology, Consulting, Software Solutions|Tags: |0 Comments

The IRS is Targeting Business Transactions in Bitcoin and Other Virtual Currencies

Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees and investors are still confused about how they work and how to report transactions on their federal tax returns. And the IRS just announced [...]

By |2019-08-07T16:26:04-04:00August 7th, 2019|Categories: Blog, Tax|Tags: |0 Comments

Attention: Accounting Rule Delays in the Works

On July 17, the Financial Accounting Standards Board (FASB) voted to issue a proposal that would delay several landmark accounting rules for certain companies. If finalized, the deferral would apply to new guidance for reporting leases, hedging transactions, credit losses [...]

By |2019-07-29T13:20:21-04:00July 29th, 2019|Categories: Blog, Tax|0 Comments