For business owners and CFOs, a financial statement audit is an essential process that promotes internal accountability and ensures compliance with external regulations. Audits play a vital role in scaling businesses, securing capital, and qualifying for specific contracts or grants. However, many organizations find the audit process stressful, disruptive, and costly. The key to reducing
Using your home for business purposes in South Carolina can have property tax implications depending on how you deduct the home office expense and the local regulations. Here’s an overview: Home Office Deduction and Property Taxes Personal Property Tax Impact: If you deduct a portion of your home for business use on your federal
When I think about my journey in accounting, it’s clear that working for a mid-sized, local CPA firm like Veris has been one of the most rewarding decisions I’ve made. From my early days at a mid-sized firm in Washington, D.C., to seven years at a small firm in Summerville, South Carolina, to my current
Navigating the tax system can be challenging for everyone, whether you’re an adult who hasn’t paid much attention to paycheck deductions or a young person starting your first job. A crucial first step in managing taxes is knowing when to seek help, which begins with understanding what can be taxed. Here are some key
Paying off student loans can be a daunting task. However with a planful approach, making your loans disappear can be a lot more manageable. Here are some tips to help make paying off your student loans less stressful and hopefully quicker! Refinance your loans.You may be able to lower your monthly payment by
Your child’s education now features more screen time, more remote learning, and more opportunities to be tripped up in our online world. The good news is that you can still make a difference in your child’s life as they continue their journey from elementary school through high school. Here are some ideas to help your
You notice one of your monthly expenses just went up from $25 to $28. Six months later and you’re now paying $35. Fast forward another 18 months and now the charge is $50 a month. If you have an expense on autopay, you may go several months without noticing that one of your monthly expenses
Whether you’re a sole proprietor ready to hire your first employee, or you already have employees and think you’re ready to hire your next team member, here’s a two-step process to help make your hiring process a success! Step #1: Define your needs Long before you start interviewing, think carefully about why you
If you are concerned about protecting your valuables, here are several suggestions to consider for protecting them from would-be thieves: Rent a safe deposit box. It may make sense to keep seldom worn jewelry, coins and other important documents in a traditional safe deposit box at your local bank. But beware if you go
Revenue recognition is a crucial aspect of financial reporting for construction companies, especially those engaged in long-term contracts. Accurate revenue recognition impacts financial statements, business decisions, and compliance with various regulations. With the adoption of ASC 606, the standard for revenue from contracts with customers, construction companies face new challenges in recognizing revenue. This