Is Cofounder Conflict Threatening Your Business?

If you asked entrepreneurs to make a list of everything they think might one day pose a threat to their company, you’d probably hear a variety of answers. Some might be (rightfully) worried about ultimately developing a product in search of a marketplace. Others may be worried about how they’re going to overcome cash flow issues. And some may still be worried about getting “taken for a ride” by the venture capital people they’re putting so much of their faith in. While all of these are understandable concerns, there’s one that’s often missing from the list: cofounders.

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How To Conceptualize Financial Results as a Small Business Owner

Successful entrepreneurs need drive, passion, the will to follow things through, and the hustler’s spirit that enables you to constantly try that new thing or relentlessly chase that next big opportunity. Not all entrepreneurs are numbers people, and that’s okay, because there are plenty of numbers people out there willing to offer support.

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Understanding Your Annual Social Security Letter

If you are receiving Social Security, then you have just recently received your annual letter from the Social Security Administration letting you know that your Social Security benefits for 2020 have increased by 1.6% as a result of a rise in the cost of living. The letter also lets you know how much will be withheld from your monthly retirement benefit for Medicare Parts B (medical insurance) and D (Prescription Drug Plan).

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Do You Know the Tax Advantages of Employer-Offered Benefits?

Which benefits offered by your employer are you taking advantage of? Do you know all of the benefits available to you? Not only do many employer-offered benefits provide impactful resources to you and your family, but some save you significant money and taxes. Below is a list of benefits that your employer may offer and the tax benefits of each. If you’re unsure of what is available to you, we recommend asking your employer for more information.

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5 Ways to Organize Your Accounting Operations in 2020

Although the December activity of “making a list and checking it twice” is over, checklists are always a good idea to help you get organized. If one of your New Year’s resolutions is to get your business finances more organized, we recommend using this checklist to help you get started.

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A Digital World, A Digital Firm: Three Characteristics of a Forward-Thinking Accounting Firm

The digital world is not only here, but it’s continuing to evolve and impact all aspects of our lives – accounting included. Last month the CK team took a trip to Silicon Valley for the QuickBooks Connect conference and we were reminded just how much technology has impacted the way in which we serve our clients. Technology has changed the way accounting departments are structured, how they communicate and the actual production of financial reporting.

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Profit Center Reporting: A Hidden Gem

Profit center reporting is a tool that management can use to review operational profit and loss results for a department, branch, product line, location or activity. It will also provide more meaning to overall profit and loss statements as it allows you to dissect the operational results into meaningful data that can be used in strategic planning.

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How to Combat Common Payroll Fraud Schemes

According to the Association of Certified Fraud Examiners, nearly 30% of businesses are victims of payroll misconduct, with small businesses twice as likely to be affected than large businesses. Here are four payroll fraud schemes that every business should be aware of.

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