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U.S. Must Adopt IFRS or Lose Influence Over Global Rules

In an interview posted by the Journal of Accountancy, the chairman of the International Accounting Standards Board (IASB) sent a clear message to the U.S. that failure to adopt International Financial Reporting Standards (IFRS) my result in losing any influence over global financial rules. IASB Chairman Sir David Tweedie indicated that the U.S. had significant influence on the creation of accounting... Read More

Don’t Ignore 2010 Tax Planning While Congress Wrestles with 2011 Tax Code

Assume Taxes will Rise in some form- 1. Consider shifting income from the future (2011-forward) to the present (2010). Rates will be higher in future years, therefore value of income net of tax could be worth more today, than after January 1, 2010. 2. Look at your portfolio of appreciated assets and consider taking advantage of capital gain rates at 15% in 2010. Screen your... Read More

What Not to Do With Social Media

Use of social media has become more and more popular among businesses and individuals. Business owners are conceding to the fact that staying on top of this revolution can be a very important piece of marketing and public relations plans. Individuals are keeping people abreast of what’s happening in their lives. In the age of dynamic content and up-to-the-minute updates, the wealth of information... Read More

Audit Your Expenses to Cut Costs and Reduce Waste

Looking for a quick way to increase profits in today’s competitive environment? Consider decreasing expenses in your company. Processes either add ‘value’ or ‘waste’ to the production of an item or service. Excess expenses can account for up to 30% of the operating costs of an organization. Unfortunately it has become accepted by us all as what normally happens and most... Read More

September is Normally a Bad Month – Weekly Market Watch

The month of September normally gives equity investors a sinking feeling and for good reason: Historically, this has proven a bad month for the stock market. As summer comes to a close, investors have already suffered a tough stretch. The S&P 500 declined 4.7% during August, and 5.7% year-to-date. Factors contributing to this month’s market activity, say market pros: the end of the... Read More

Recut the Suit to Fit – Repositioning Your Business to Survive, then Thrive

by Steve Gross In a lot of ways, we gained weight in our businesses during the last few years, and when the economy changed, we were left with suits (strategies) that didn’t fit, profits that disappeared, and a change in our customers that we didn’t see coming. Like many of us in our personal lives that are exercising again, watching what we eat, and working with a trainer we can use this analogy in our... Read More

Managing From Insights

How to Create and Use Dashboards to Highlight Areas for Action! Many businesses struggle with basic administration daily as they perform accounting to record activities, administer payroll, manage cash flow with paying bills and collecting invoices, attempting to reconcile activities to be sure nothing is missing or out of place. At the end of the month, producing financial statements becomes the task... Read More

IRS Warns of EFTPS Phishing Scam

The IRS has issued a warning about a fraudulent scheme targeting Electronic Federal Tax Payment System (EFTPS) users. The scheme uses an e-mail claiming that the user’s tax payment was rejected and directs the user to a website for additional information. The website contains malware that will attempt to infect the user’s computer. The IRS does not initiate taxpayer communications through e-mail. If... Read More

The Hindenburg Omen – Weekly Market Watch

The most feared technical pattern in all of market chartism is the Hindenburg Omen. “The Hindenburg Omen is a technical analysis that attempts to predict a forthcoming stock market crash. It is named after the Hindenburg disaster of May 6th 1937, during which the German zeppelin was destroyed in a sudden conflagration.” The Hindenburg Omen is not a guarantee of a crash, and the five criteria... Read More