Every year, the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds (OASDI) issues its annual report on the Social Security system. The report details the current financial status of both Social Security and Medicare as well future projections. The 2018 report has one key takeaway – both … Continue reading “Social Security Ground Zero: 16 Years to Impact”
VA MISSION Act of 2018 (S. 2372) – This bill was introduced by Sen. John Isakson (R-GA) on Feb. 5 and signed into law by the president on June 6. This legislation permits veterans to seek care from private doctors and hospitals. It eliminates the previous rule stating that they could seek care outside the … Continue reading “Congress at Work: Benefits for Veterans, More Money to Counteract Gun Violence and a Higher Loan Limit for Small Business Loans”
In 2017, nearly one-third of internet users reported being victim to online hacking or similar suspicious activity on their accounts. But as anyone who regularly uses a computer – especially for financial transactions – knows, keeping track of passwords can be a time-consuming task. Even so, it is necessary to ensure your personal and financial … Continue reading “Old School and Hi-Tech Ways to Keep Track of Passwords”
Brick and mortar versus the virtual office. It’s a dynamic that’s been ongoing for a couple of decades. But you might be wondering: how much has the traditional office really changed? Some Facts to Consider For perspective, consider data gathered by the International Workplace Group (IWG). IWG’s study, which included more than 18,000 professionals across … Continue reading “End of the Traditional Office: Fact or Fiction?”
The new Tax Cuts and Jobs Act, which went into effect on Jan. 1, has sent an unambiguous message that the current GOP-dominated Congress and Presidential Administration are decidedly pro-business. Fortunately, they included provisions in the new legislation that enhance tax advantages for many self-employed sole proprietors. The following offers an overview of both new … Continue reading “Self-Employment Deductions Under the New Tax Law”
Key Performance Indicators, also known as KPIs, are core measurements that businesses use to monitor progress toward achieving goals and targets. KPIs, which vary widely by industry and entity structure, can be used to monitor and track all aspects of your business,. Management teams pay close attention to KPIs, looking for anything out of line … Continue reading “Key Performance Indicators and Your Business – Part 1 of 2”
Blockchain technology is raising speculation over the future of audit and assurance work and the impact it could have on accountants. Originally created to serve as the foundation for cryptocurrencies, blockchain technology has developed and been adapted into many other spaces, including smart contracts. It has the power to disrupt the audit and assurance process … Continue reading “Will Blockchain Technology Disrupt Audit and Assurance Services?”
Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) – Sponsored by Sen. Michael Crapo (R-ID) in November 2017, this bill rolls back some of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The original bill was designed to tighten regulations on financial institutions following the Great Recession … Continue reading “Dodd-Frank Rollback, Security Clearance Assistance, and Returning Assets from the Nazis”
Studies have shown that as much as 40 percent of time spent at work is generally unproductive, busy work. Things like checking emails, ordering supplies, fixing the copy machine or trying to figure out how to work a conference call line – during the conference call. These tasks can be aggravating and, when experienced by … Continue reading “Amazon’s Alexa as a Virtual Office Assistant”
Artificial Intelligence, otherwise known as AI, is not something that exists only in science fiction or Hollywood movies. It’s here. And it’s changing the way accountants are doing business. Here’s how and why. AI Can Help with Tedious Tasks While combing through spreadsheets is by no means an unimportant task, it can be time consuming, … Continue reading “The Effects of AI on Accounting”
