Importance of Budgeting
Brian Clarke of H&J CPAs discusses the importance of budgeting for small business owners. One of the most common things that small business owners do not do on a regular…
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The Misconception of Audits
Tim Valentino of H&J CPAs explores fair market value and provides a better understanding of what it is and how it is used. Many people use “audit” as a general…
Understanding Fair Market Value
David Zarlenga of H&J CPAs explores fair market value and provides a better understanding of what it is and how it is used. When we talk about standards of value,…
The Importance of Profit and Loss
Brian Clarke of H&J CPAs explores profit and loss and explains why it is important to regularly review it. Each month, company owners are presented with a profit and loss…
The Types of Financial Statement Engagements
Tim Valentino of H&J CPAs explores these types of engagements and provides a better understanding of what is involved. There are three levels of financial statement engagements: audited, reviewed and…
Ethnic Entrepreneurs: Fund our Future with Solid Business Investments
Even with a lack of financial support, immigrant entrepreneurs continue flying over hurdles and boosting our country’s economic development. Proving their determination to succeed from the start, people from all…
So You Think You Can Deduct Your Donation? These Ineligible Contributions Might Surprise You
You may think that a nonprofit donation will give back with a deduction come tax time, but not all contributions can cut you that break. The type of establishment you…
Funding Females: Investing In Women-Led Startups is Now Drenched with Data
Many investors are seeking opportunities to fund startup companies, but not enough are providing funds to support the growing leaders in entrepreneurship: women. If you’re looking to fund a startup,…
Your Six Month Tax Extension Is Now Down to Three – What to Know and What to Do From Here
For those of us who filed a tax extension this year, we’ve officially crossed the halfway mark for locating, organizing, and filing all of that detailed information. By October 17,…
2016 Trustees Reports Project Social Security COLA, Medicare Premiums, and Long-Term Outlook
Every year, the Trustees of the Social Security and Medicare trust funds release reports to Congress on the current financial condition and projected financial outlook of these programs. The 2016…
New Rules for College Campus-Sponsored Debit and Prepaid Credit Cards
The Department of Education has issued new rules for campus-sponsored debit and prepaid credit cards that are directly linked to financial aid disbursements. While many financial institutions have partnerships with…
Final Rule on Overtime to go into effect on December 1, 2016
On May 18, 2016 President Obama and Secretary Perez announced the publication of the Department of Labor’s Final Rule which ends two years of speculation regarding the effect which the…
What to Expect when Facing Litigation
I often get questions from clients, friends, friends of friends and acquaintances who are facing litigation. The common thread among them is that they just do not know what to…
5 Tips for Managing Your Business Finances
Keeping a close eye on your company’s finances may seem tedious, but it is a critical task for the success of a growing business. Consistent financial management allows you to…
Retiree Confidence on the Rise
While retirement confidence among U.S. workers appears to be stabilizing, confidence among today’s retirees continues to climb, finds the Employee Benefit Research Institute (EBRI) in its latest Retirement Confidence Survey.…
Federal Income Tax Returns Due for Most
The federal income tax filing deadline for most individuals is Monday, April 18, 2016. That’s because Emancipation Day, a legal holiday in Washington, D.C., falls on Friday, April 15, this…
Is Your Small Business Safe from Today’s Cybercrime Movement?
Many business owners become so focused on developing income that they underestimate the importance of sufficient security measures, and the cost of exposing your information to cyber attacks. Digital criminals…
Start-ups: Escape the Devastation of Misguided Spending with These Essential Guidelines
You worked hard to obtain the funding your company deserves, but how can you be sure your finances won’t diminish too quickly once you’ve reached your goal? Too many business…
There’s Still Time to Contribute to an IRA for 2015
There’s still time to make a regular IRA contribution for 2015 You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2015 ($6,500…
Strengthen Your Nonprofit Funding and Conserve the Environment by Going Green
Nonprofit organizations are leading the way for innovative environmental practices that help save our planet, and their funding. Adopting these energy-efficient standards will help you make the most of your…
Nurture Your Family Savings by Hiring a Tax Professional This Season
Families will often attempt to file their own tax returns hoping to save a little cash, but this could be more harmful than helpful to your valuable assets. Too often,…
SEC Adopts Regulation Crowdfunding
New rules take effect in 2016 On October 30, 2015, after three and a half years of proposals, comments, and discussion, the Securities and Exchange Commission (SEC) announced its final…
Crowdfunding Pioneers the Newest Approach to Nonprofit Fundraising
At H&J CPAs, we are witnessing nonprofit campaigns benefit from crowdfunding in an explosive way. Typically conducted online, crowdfunding provides ease of networking to raise many small donations from a…
Prepare Your Small Business Now for an Effortless Tax Season Later
A smooth tax season for small businesses can only be achieved with the proper advanced preparations. By maintaining routine techniques throughout the year and setting up your finances at year-end,…
Year-End Charitable Giving
With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our lives. It is also…
Families Facing Disabilities Find relief in able programs
When it comes to handling finances, we see many families that want to organize their funds in the most beneficial way possible, especially those planning for disability expenses. In December, 2014,…
Five Questions and Answers about New Social Security Claiming Rules
When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated. For those who expected to…
A Thought to Ponder: What is Property?
The definition of property is pivotal in any valuation. The valuation is essentially an economic quantification of the bundle of rights that are either held or transferred in connection with…
The Bipartisan Budget Act of 2015
On November 2, 2015, President Obama signed into law the Bipartisan Budget Act of 2015, legislation that raises the federal debt limit and establishes the framework for a two-year budget…
College Costs for 2015/2016 and New FAFSA Timeline for 2017/2018
Every year the College Board releases its annual Trends in College Pricing report that highlights current college costs and trends. While costs can vary significantly depending on the region and…
IRA and Retirement Plan Limits for 2016 You Must Know
IRA contribution limits The maximum amount you can contribute to a traditional IRA or Roth IRA in 2016 is $5,500 (or 100% of your earned income, if less), unchanged from…
The Importance of Financial Projections in Your Business Plan
Financial projections are a crucial aspect of the core small business plan, especially for newer companies. By considering factors like production costs, market prices, and demand for your services, you…
Medicare Open Enrollment Period Begins October 15, Are You Ready?
1 – What is the Medicare open enrollment period? The Medicare open enrollment period is the time during which people with Medicare can make new choices and pick plans that…
Deadline Approaching for Undoing a 2014 Roth IRA Conversion
If you converted a traditional IRA to a Roth IRA in 2014 and your Roth IRA has sustained losses, you may want to consider whether it makes sense to undo…
What Is the Valuation Impact of Buy‐Sell Agreements?
Buy‐sell agreements can have an impact on the valuation of a business. However, the degree of the impact is dependent upon the purpose and use of the valuation. The agreement…