If you received an envelope from the Internal Revenue Service (IRS) that does not contain a refund check, your heart rate likely increased. Before you fret, remember that most of the issues in these letters can be dealt with simply and painlessly. There are a number of reasons the IRS might send you a [...]
Small business owners and employees working on-the-go: here's what you need to have setup for a smooth virtual work/vacation time. One of the biggest benefits of technology is that it allows those of us who want to work virtually the ability to work from anywhere - that’s definitely our favorite part! We get to [...]
If you are thinking of acquiring another company, there are quite a few factors that you must consider in your decision making. The best way to consider all factors and elements of your business is by conducting due diligence. This is your way of finding out the health of the company; is it really [...]
The mixing of personal and business finances is especially common in the beginning stages of business. It is something that you should work to separate as soon as possible. Mixing personal and business finances is dangerous. This makes it hard to see what your cash flow in the business is, [...]
The world has become more and more digital, which has made cryptocurrencies all of the rage. Cryptocurrencies are generally utilized for transactions by techies and have a comparable value in real currency or replace real currency. These virtual currencies can be purchased with or exchanged into U.S. dollars, euros, and other real or virtual [...]
Hiring a new employee can be a stressful situation, especially if it is your first time. You don’t want to bring just anybody into the business you’ve worked hard to create, but the fact of the matter is... you need the help. In true GMLCPA fashion, you have to make it fun! Here’s our [...]
The new tax law has changed many things about our lives, and medical deductions is one of them. The new law’s final version kept the itemized deduction for medical expenses, and it lowered the adjusted gross income (AGI) limitation from 10% to 7.5% for 2017 and 2018. Here is where it gets a little [...]
Have you ever been left with money at the end of the month, quarter, or year, and wondered what to do with it? Certainly putting it away for a rainy day is a great use of the money, but if your rainy day fund is already plump and you want to find a good way [...]
“Don’t fear failure, fear being in the exact same place next year as you are today” (Unknown) This is a quote that really encapsulates everything we want to remember throughout the entire year. We are a firm that focuses on growth in ourselves, and especially in our clients. We know from experience that it isn’t [...]
When you first start out in business, it’s standard to service clients from a wide variety of industries. If you are building your client base it’s a smart way to start, and the only way to discover which industry you prefer or have the most success in. After a while, though, it’s important to look [...]
