6 posts categorized "Small Firms" Feed

3 things more important than tax reform in 2018

Your phone’s already ringing. Clients want to know how the new tax law will impact them. This is understandable, but don’t Small firm prioritiesworry if you aren’t ready to answer their questions just yet It’s a big law and the IRS has yet to provide even the most basic guidance. For most businesses, taxes aren’t the first thing to look at in 2018—in fact, taxes probably shouldn’t be your clients’ second or even third priority. During your client meetings consider tackling these other issues that haven’t made the 6 o’clock news.

  1. Everybody needs to fully reevaluate their accounting.

To start with, after two years of delays, US GAAP is undergoing its biggest changes in decades with implementation of FASB’s new revenue recognition and lease accounting standards. Aside from the high-profile changes for software providers, virtually every business in America that reports under US GAAP will see significant changes to their accounting for revenue recognition. Most of these businesses have leases to look at too.

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Why you shouldn’t make a New Year’s resolution

ResolutionsEach year, millions of Americans lose an average of 20 pounds and learn a new language within a few months of making their New Year’s resolutions.

Wait, what? That’s not actually true. I can tell you what really happens: Every January 2, a slew of people show up at my gym and hog the treadmills. It is rather frustrating. Luckily, I know they’ll be gone in a few weeks. That’s because they are part of the 80% of Americans who abandon their resolutions by the second week of February.

There has to be a better way. What if instead, we set goals throughout the year, rather than all at once when the clock strikes midnight? We would be less likely to feel overwhelmed by our commitment to training for a marathon and writing a novel, so we’d have a better chance of getting something done. After doing some research, I found a few other tips to achieve those goals you set.

Be specific. Begin by writing down exactly what you want. We’d all like to be more successful or more fulfilled, but what exactly does that mean to you? Let’s say you’d like to raise your professional visibility. There are a number of ways you can do it, including getting further training that can make you more valuable to clients or your employers or becoming more involved in professional or community organizations. And remember this isn’t a once-a-year activity, since it’s good to set new goals as circumstances change and new opportunities pop up.

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Secret Santa 101: Brush up on gift exchange game rules

Secret Santa

The office tree has been trimmed, the halls have been decked and everyone is scrambling to get all of their end-of-year work done. But before you can leave the office for the holidays and officially begin the festivities, there’s one thing left to do: the office gift exchange.

More budget-friendly than your typical office party, a gift swap get-together might be the way to go. Consider these three gift giving games for your small firm’s holiday celebration. They will make everyone feel jolly and turn a potentially ho-hum gathering into a ho-ho-holiday team bonding experience.

Game: White Elephant  

How to Play: Have you ever looked at a gift someone just received with envy because you wished it had been given to you instead? With White Elephant—also known as Pirate Santa, Yankee Swap and Dirty Santa—you’re in luck. That coveted gift can be all yours.

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5 ways to make the most of your small office space

Small office spaceDo you hit your daily step count just walking around the office looking for a quiet place to call a client? Or do you move files off the chair by your desk so you can talk with a co-worker? There are benefits to working in a small office space, like the camaraderie our office developed eating lunch in the combination kitchen/library/conference room, and any challenges can be offset with some adjustments. Here are some ideas for getting the most out of your limited office space.

  1. Ask before you act:

Is your office a good place for valuable impromptu meetings? Does your staff feel it’s easy to concentrate? Does the lighting throughout your office allow for a good work experience? Is technology easily accessible? The best way to find out is by asking, either in an informal meeting or via a survey. Your plans to get the best use of limited office space won’t work if you don’t solve the problems that prevent staff from doing their best.

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Why Pets Make the Best Coworkers

Peaches - Julia MorrissMy dog Peaches, a cuddly beagle mix, is the love of my life. As with most pet owners, I spend a lot of time with my dog and miss her when I’m not at home. The days that I telecommute are often the highlight of my week because I can relish her company all day. Having a dog at home is beneficial in many ways:  I stand up and walk around more often, get outside for fresh air a few times a day and feel less stressed because I can give Peaches regular snuggles.

One of the benefits of being a CPA sole practitioner, or working for a firm that utilizes virtual offices, is that you can often work from home, allowing you to be with your pets all day. Some CPA firms even allow employees to bring their dogs to the office.

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16 Work/Life Hacks for CPAs

Life hacksAs a CPA at a small firm, you’re constantly charged with finding the most efficient ways to get everything done and stay organized. From tracking mileage to arranging the supplies on your desk, the following low- and high-tech life hacks can help you make the most of your workday – so you can dedicate more time to what’s going on with your clients and less time to what’s going on with your desk and office space.

  1. Gain an extra monitor through your iPhone or iPad using Duet Display. If you want to increase your productivity with an extra Mac or PC screen, you can multitask by using the Duet Display app, which allows you to use your iDevice as an extra monitor.
  1. Organize cords with toilet paper rolls. Cords that you don’t use on a regular basis can be neatly stored away in empty toilet paper rolls placed in a shoebox.

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