tax-reform-bill-restaurant-industry-credits-at-risk-

Tax Reform’s Potential Risks Facing The New York Restaurant Industry

On November 16th, the House of Representatives unveiled a marked-up version of the long-awaited tax reform bill, the Tax Cuts and Jobs Act (TCJA) that was passed in the House. If you analyze it from a high level, this bill seeks to permanently reduce corporate rates, limit the number of personal income tax brackets, modify or eliminate a variety of ...
corporate-tax-consulting-services

Tax Consulting Services: Why You Shouldn’t Underestimate its Value

Businesses view taxes like most of us do– as a burden that can’t be avoided. Naturally, companies want to maximize their profitability which means minimizing taxes whenever possible. To be fair, the U.S. tax code provides plenty of opportunities to save on taxes, and a skilled advisor knows what those opportunities are and how to take advantage of them.  A …

Healthcare Revenue Cycle Management

Increasing Cash Flow by Improving Revenue Cycle Management for NY Doctor offices

As the possible repeal of the Affordable Care Act (ACA) becomes a reality, the need for revenue cycle management is absolutely critical.  You may be asking yourself what a revenue cycle actually is, especially as it pertains to the business world.  The revenue cycle is the crucial process that efficiently and accurately captures the revenue of any organization, regardless of …

Accounts-receivable-management-for-medical-practices

8 Notable Areas of Accounts Receivable Management for Doctor Practices

How to Understand the Scope of Accounts Receivable (A/R) The primary goal of accounts receivable (A/R) management is to have a collection period that is as short as possible.  Sometimes referred to as patient or client accounts, accounts receivables is revenue that has not been collected yet despite being generated. In order to ensure that cash flow is sufficient enough …

4 dental accounting mistakes to avoid

4 Dental Bookkeeping Errors that Could be Very Costly

Cash flow issues will cripple any growing dental practice very quickly.  A ripple effect will undoubtedly occur, as a result, and what were simple bookkeeping errors will become enormous financial difficulties.  Although a majority of dentists are experts in their field, they are not necessarily experts in accounting.  For the most part, most dentists are unaware of the crucial steps …

cash-flow-forecasting-benefits

5 ways cash flow forecasting can improve your business

Many New York startups and small businesses owners are facing tough competition in their industries, and need to find any advantage they can to get an edge. Cash Flow forecasting is an important technique that most businesses should be taking advantage of.  You might be asking what exactly is cash flow forecasting?  The short explanation: it is a process used …

small-business-accounting-basics

Small business accounting basics – 8 tasks you should do every week

As a bootstrapped startup or New York small business owner, there virtually no shortage of tasks and details to consider on a daily basis. One of the pleasures of owning a business is a constant flood of satisfying milestones coupled with expanding to-do lists. From picking the right entity, to figuring out a marketing strategy to setting up a solid …

tax return

Do All Business Types Need to File a Federal Tax Return?

Benjamin Franklin coined the phrase “Our new Constitution is now established, everything seems to promise it will be durable; but, in this world, nothing is certain except death and taxes.” And as far as this being true today, it turns out the latter is as definite as the former, at least when it comes corporate taxes.     If you have …

end-of-the-year-small-business-tax-strategies

End of the Year Tax Strategies For Small Business Owners

The most significant tax reform in more than 31 years is coming and could significantly affect your business and your bottom line. How will the plans laid out by the Trump administration and the House Ways and Means Committee come together, and how will potential policy changes affect you and your business? Two things about you: You’re busy. You want …

sales-tax-ecommerce

4 State Sales Tax Questions Small Business Owners Need to Ask

The idea of sales tax was created during the times of the great depression.  Then, during the mid-1930s, 24 states and the District of Columbia began enacting and imposing a sales tax.  As of 2017, we have 45 states that use sales tax for revenue. The five states that currently remain sales tax-free are Alaska, Delaware, Montana, New Hampshire and …