SME CPA BLOG

Serving on the board for a non-profit close to your heart is one of the best ways to get deeply involved and make a difference. However, there is a lot of responsibility that comes with being on the board. Legal, ethical, and moral obligations come into play when you are part of the decision-making process…

Why Do Younger Generations Need an Accountant? Many young people automatically defer the idea of needing a personal accountant because they assume that all they do is give a tax return. Accounting is about much more than taxes… it’s about planning for your future alongside someone who cares about your financials. Buying a house, budgeting,…

Artificial Intelligence has found its way into our lives in more ways than we think– into our homes with Amazon Alexa, our phones with Siri, and even into our jobs. Artificial Intelligence and other new technologies have been credited with taking millions of jobs around the globe. Customer service representatives have been traded for automated…

Employee benefits are forms of compensation that are above a salary or wages and are paid by employers to their employees. Employee benefit plans are often one of the greatest expenses of a company’s operations. As a result, their worth can be falsely questioned and financial decision makers within businesses often seek to find a…

Why worry about Emotional Intelligence? Although measurable intelligence such as GPA, certifications, and credits are essential within the workforce, there is a type of priceless intelligence that cannot be easily calculated: emotional intelligence. Emotional intelligence is the ability to communicate feelings and to be aware of other’s emotions. A team of individuals with high educational…

Over 10 million taxpayers file for an extension every year based on reasons such as: needing more time to collect receipts, changing jobs, moving homes, or just not being able to complete their return in time. However, even though filing for an extension does buy more time to file taxes, it does not give more…

For full-time working parents, daycare and summer camps are required to survive the year. As we all know, these childcare options are expensive and can cost an average of up to $15,000 annually. According to the American Camp Association, over 14 million kids attend day camps and overnight camps every summer. Summer camps usually cost…

Small businesses are defined as a company with less than 500 employees. According to the U.S. Small Business Administration, small businesses make up 99.7% of U.S. employer firms. However, the SBA also proclaims that only half of these establishments survive 5 years and about one-third survive 10 years. Why are so many small businesses failing?…

Filing Status: File a new W-4 form with your employer to increase or decrease amount withheld from paycheck. If you were separated but your divorce was not finalized before the last day of 2018, you can still file a joint return. This is likely to save you money rather than filing as a single taxpayer.…

The new tax laws were aimed to simplify tax exemptions, but the final result may hurt some taxpayers. At first glance, it seems as if everyone would choose to use the standard deduction but it is important to understand your best option in 2019 after the 2018 Tax Reform Bill. Generally, one would choose to…