International Student to Full-Time Accountant, what it’s really like

By |2022-03-30T14:38:36-05:00March 30th, 2022|Better Guidance, Career Excellence|

Job hunting after graduation is a difficult process. The experience is akin to winning a lottery; you fill-out applications based on what the company is looking for and hope that you receive a call-back for the first interview. As an international graduate applicant, the probability is lower comparatively to U.S. citizens and permanent residents. Regardless [...]

State Tax Law Changes: Impact on Business Owners

By |2022-01-04T14:30:48-06:00January 4th, 2022|Better Guidance|

Sales tax laws have changed in recent years, and keeping up with the changes can be challenging for business owners. In the 2017 Wayfair case, the Supreme Court decided many changes in the ability for states to collect sales and use tax by redefining what would be considered taxable. The decision enables states to mandate that [...]

Deductions for Car Expenses: Beyond Mileage Rates

By |2022-01-04T13:26:50-06:00January 4th, 2022|Better Guidance|

If you use your car only for business purposes, you may deduct its entire cost of ownership and operation (subject to limits discussed later). However, if you use the car for both business and personal purposes, you may deduct only the cost of its business use. You can generally figure the amount of your deductible car [...]

De Minimus Safe Harbor Election: What is it, and when can you use it?

By |2022-04-18T14:17:42-05:00January 4th, 2022|Better Guidance|

The de minimis safe harbor is simply an administrative convenience that generally allows you to elect to deduct small-dollar expenditures for the acquisition or production of property that otherwise must be capitalized under the general rules. De Minimus Safe Harbor allows you to immediately expense assets and certain repairs up to $2,500 (per asset/repair). If you [...]

You can do MORE with Abacus CPAs – more of what you love

By |2022-01-04T12:58:00-06:00January 4th, 2022|Better Guidance|

Do you ever feel like there aren’t enough hours in the day to do everything that you want to do for your business? Do you ever feel so overwhelmed by the administrative tasks (the boring stuff) that it takes to run your business, that you don’t have time to do the things that made you want [...]

Hiring Your Children for Tax Benefits: What You Need to Know

By |2021-12-17T13:53:52-06:00November 1st, 2021|Better Guidance|

As a business owner, you likely have two primary goals for your work: make as much money as possible and do anything possible to lower your tax bill. However, many small business owners miss one key deduction right in front of them: their children. Many business owners are unaware there is a tax strategy where they [...]

Year-End Preparation: Setting Yourself Up For Success

By |2021-12-17T13:48:02-06:00November 1st, 2021|Better Guidance|

As the end of the year draws near, having a head start in collecting information for next year’s taxes is beneficial. In addition, having an accounting year-end checklist can help make sure all outstanding business tasks are taken care of before the new year begins. Use this checklist to better meet your company needs: Get all [...]

How to Be a Leader When You’re Not in a Leadership Position

By |2021-12-17T14:07:46-06:00September 22nd, 2021|Better Guidance|

What makes you a leader is not defined by your position but by your attitude. Anyone can be a leader, despite their title and regardless of their position. If you strive to be a leader, it's time to move past the idea of waiting for a label or status to give you authority. It's time to [...]

Best Practices to Pass the CPA Exam and Take Care of Yourself, Too

By |2022-02-10T10:46:54-06:00September 22nd, 2021|Better Guidance|

Accountants students worldwide know that becoming a CPA is one of the “must-haves” for a successful career in public accounting and a prestigious certification to hold in private accounting. Many professionals will pursue the CPA, but not all will succeed. The cumulative passing rate for CPA Exam in 2020 was 57.67% - an unusually high number [...]

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