Deciding Between a Compilation and a Review
Even a successful and growing small business may be asked for an audited financial statement by a banker, investor, creditor, or buyer. These third parties often want some assurance that …
New DOL Guidance on Employee Leaves
The pandemic has affected both employers and employees, and everyone is trying to figure out how to work under new situations and new rules. The new DOL guidance will help …
Reconstructing Records After a Disaster
If you’re the victim of a major disaster, you might be entitled to government relief. But you will need records to help you prove disaster-related losses for tax purposes, federal …
Worried About the Monthly Close
The monthly close process should be standardized. Start by creating a list of standard journal entries that will promote consistency in monthly closings. The following types of adjusting entries produce …
Exit Planning for Business Owners
Whether your business is a start-up or a mature business, exit planning should be part of your overall business plan. That may sound counterintuitive, but the fact is that no …
Selling a Small Family-Owned Business
You’ve worked your entire life to build a family business, and now it’s time to pass it on. But how and when you sell the family-owned business can determine what …