Category Archives: Accounting Services

Employee or Independent Contractor? The IRS Wants to Know

James has worked with a young technology company almost from its inception. Initially the company was one of many clients.

Gradually, James spent more and more time working there and less on projects for other clients. Eventually, he was on-site pretty much every day and only rarely accepted small consulting jobs he could complete evenings and weekends.

Is James still a self-employed consultant? Or, from the perspective of the IRS, has he actually become an employee of the company?

The distinction between an employee (continue reading…)

Posted in Accounting Services, Closely Held + Family Business Practice, Distribution + Light Manufacturing Group, Emerging Businesses + Turnarounds, Hospitality, Restaurant + Lodging Group, Not-for-Profit Practice, Professional Practices Group, Real Estate Group, Retail Group, Tax Services, Technology Group | Tagged , , , , | Comments Off

Know the Latest Washington State Tax Rules?

Newly expanded electronic filing requirements become effective next month for certain businesses paying Washington State combined excise taxes.

The federal unemployment tax rate—used to fund unemployment insurance at the state level—is slated to decrease at the end of the month when a temporary surcharge expires. Unless Congress acts to extend the surcharge, employers will be subject to additional recordkeeping requirements this year.

Many Washington businesses pay more in personal property taxes than absolutely necessary as a result of outdated asset records.

If you’re (continue reading…)

Posted in Accounting Services, Closely Held + Family Business Practice, Distribution + Light Manufacturing Group, Emerging Businesses + Turnarounds, Hospitality, Restaurant + Lodging Group, Not-for-Profit Practice, Professional Practices Group, Real Estate Group, Retail Group, Tax Services, Technology Group | Tagged , | Comments Off

A Modified Version of GAAP for Private Companies?

It’s been tossed around for decades: Do we really need separate accounting standards for private companies?

Complaints about the relevance, complexity and cost of private company compliance with GAAP (generally accepted accounting principles) continue to grow.

The argument for separate standards goes something like this: GAAP financial reporting requirements do not sufficiently consider the differing needs of public and private company stakeholders.

The goals and requirements of public and private company financial statement users are not always the same, and private company performance (continue reading…)

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Leasing?

 

At first glance, it doesn’t appear these businesses have much in common.

Micki owns a small chain of restaurants.

James is the CEO of a commuter airline.

Ian’s family operates a prestigious retail jewelry business.

Leigh manages a company that provides other businesses with short-term office solutions, including administrative staff, furniture and equipment.

But look again. 

Micki’s restaurants operate in leased buildings. James’ airline leases its planes. Ian’s retail locations are also leased, as is much of the business’ furniture and fixtures. Leigh’s company leases its (continue reading…)

Posted in Accounting Services, Business Consulting Services, Closely Held + Family Business Practice, Distribution + Light Manufacturing Group, Hospitality, Restaurant + Lodging Group, Not-for-Profit Practice, Professional Practices Group, Real Estate Group, Retail Group, Technology Group | Tagged | Comments Off

Doing All You Can to Prevent Fraud in Your Business or Not-for-Profit Organization?

The statistics are sobering. Imagine simply throwing away seven percent of your organization’s annual revenue. According to a recent study conducted by the Association of Certified Fraud Examiners, that’s the impact of occupational fraud on U.S. organizations―including public and private businesses, not-for-profit organizations and governmental entitiesorganizations. It translates to approximately $994 billion.

Perhaps surprisingly, fraud losses tend to be more significant for smaller businesses than for larger organizations. The median loss for all organizations in the study was $175,000―but for those with fewer (continue reading…)

Posted in Accounting Services, Audit + Assurance Services, Business Consulting Services, Closely Held + Family Business Practice, Not-for-Profit Practice, Technology Group | Tagged , , , | Comments Off

SPOTLIGHT | Services for Not-for-Profit Organizations

It’s all about passion, that relentless drive to make a difference in your community, your world. And it’s about the business of doing good.

Bader Martin can help with the financial and advisory services that allow you to do it well. Our not-for-profit practice delivers an integrated, year-round suite of services for not-for-profit organizations and private foundations, as well as their executives and donors.

You might say we have a special passion for not-for-profit organizations. With backgrounds in auditing, tax planning, governance, (continue reading…)

Posted in Accounting Services, Audit + Assurance Services, Business Consulting Services, Hosted Accounting + Technology Services, Not-for-Profit Practice, Personal Wealth Planning Services | Tagged , , | Comments Off

Pay a Per Diem for Employee Business Travel?

Each year, Americans take more than 40 million domestic, long-distance business trips.

While the ordinary and necessary costs of business travel are generally deductible for federal tax purposes by employee or employer, substantiating the deductions can involve a lot of detailed recordkeeping on the part of the business traveler! 

As an alternative to tracking actual expenses for business travel, many employers choose to pay their employees a per diem, or daily fixed amount, to cover lodging, meals, and incidental expenses.

The IRS-approved per-diem (continue reading…)

Posted in Accounting Services, Business Consulting Services, Closely Held + Family Business Practice, Distribution + Light Manufacturing Group, Emerging Businesses + Turnarounds, Hospitality, Restaurant + Lodging Group, International, Not-for-Profit Practice, Professional Practices Group, Real Estate Group, Retail Group, Tax Services, Technology Group | Tagged , , | Comments Off

Need a Valuation for Your Business?

Valuing a privately held business is a complex–and generally expensive–proposition. So, why bother?

Lauren Donnelly didn’t think her company needed a valuation. Then she turned 55 and began to consider succession plans and exit strategies. That same year, she briefly separated from her husband and, as a result, decided to update her estate plan. Her company also landed a major new client, which meant she needed a significant inflow of capital for new equipment to fund growth.

Succession planning, estate planning, divorce, (continue reading…)

Posted in Accounting Services, Business Consulting Services, Closely Held + Family Business Practice, Distribution + Light Manufacturing Group, Emerging Businesses + Turnarounds, Hospitality, Restaurant + Lodging Group, International, Personal Wealth Planning Services, Professional Practices Group, Real Estate Group, Retail Group, Tax Services, Technology Group | Tagged , , , , | Comments Off