Utilizing Job Costing to Help Manage the Bottom Line

By Wiss, Posted in Construction

By: Mike Andriola Is your bottom line understated simply because you don’t have the necessary documentation or lack the accounting insight to allocate job costs to contracts? Or are you paying too much in taxes because you have an overly aggressive cost allocation strategy? If you are in either situation, the lack of a sound job costing strategy is costing you money. In the construction industry, there are three main types of costs: direct costs, indirect costs, and general and administrative expens... read more.

You Cannot Automate a Relationship

By Wiss, Posted in General Business

By Ruth Raftery "Hello! My name is Samantha and I am an automated voice recognition answering service.  You can speak to me as you would with a live representative. Please tell me, what are you calling about today?" It seems many calls I make lately– whether to credit card companies or to other businesses – are answered by the type of technology that runs programs like "Samantha." In my experience, these systems can never actually answer the types of questions a person can.  Th... read more.

Business Leaders: Give Yourself an 85 Percent Chance of Success

By Wiss, Posted in General Business

Dr. Nick Molinaro, Ed.D., P.C. CEOs and other top business executives have it tough. We read about their challenges all the time. Sometimes they are called heroes and sometimes goats for taking actions in the face of a possible downside – or for refusing to do so. Ah, the magic of 20-20 hindsight. An accountant’s main job consists of narrowly focusing on the specific task in front of them. CEOs, on the other hand, must have the ability to shift awareness to different items perhaps several tim... read more.

Employment Tax Filings for Nonprofits: How to Ensure Compliance with IRS Rules

By Wiss, Posted in Not For Profit

By Linda Curro Nonprofit organizations frequently form organically, in response to a need in the community. The people who establish and run them are usually concerned citizens and activists, passionate about the cause, but often less knowledgeable about the operational and financial aspects of running a nonprofit organization. However, it is critical for nonprofit leaders to understand business and finance, particularly when it comes to employment tax compliance. Failure to properly declare and file tax... read more.

The Power of Language: How Words Can Transform Your Perception

By Wiss, Posted in Wiss Gets Personal

By Kimberly Bustamante The connection between language, words, emotions and self can transform the reality within which you live. If your goal is to be resilient, confident, successful in achieving goals and able to overcome obstacles, start by taking responsibility for the words you use and the phrases that shape your thoughts. What language makes up the beliefs in yourself? Become more aware of your vocabulary and intentionally focus on life-giving, instead of self-diminishing, words. Here are some com... read more.

Property Management Software is for Everyone

By Wiss, Posted in Technology

By Bob Risk Did you know the real estate industry is a $15 trillion industry and small to medium sized companies still command roughly 50% of the total real estate market in the United States? This concept has drastically transformed with the rise of Cloud computing and the price of entry--which is much lower than you think. Companies such as Appfolio, Propertyware, RealPage and Total Management are paving the way with complete property management, accounting, tenant portal, marketing and maintenance work... read more.

From Collator to Colorado

By Wiss, Posted in Wiss Gets Personal

By Connor Doyle Hindsight is 20/20, but sometimes it takes time to get the full picture. My story begins at college graduation. I was bright eyed, bushy tailed, and without a job. One of my top accounting firm choices, Wiss & Company, had just turned me down for an internship. After an overly anxious two months, a last minute drop from the temporary positions in the Wiss tax department opened up with what I came to know as one of the most unglamorous jobs in accounting. I took a job as a Collator. It... read more.

Top Business Leaders Learn to Shift Awareness to Maximize Performance

By Wiss, Posted in General Business

Dr. Nick Molinaro, Ed.D., P.C. As I have explained in this previous post regarding my work as a licensed psychologist with high-level athletes, awareness and focus are critical. Those same mental skills serve the leadership skills of the exceptionally performing business leaders I work with as well. Let’s drill a little deeper into how the performance abilities of both groups align. From a psychological viewpoint, there are two types of sports – closed and open – and many top athlet... read more.

Valuing Your Company: What to Know Before Seeking Business Valuation

By Wiss, Posted in General Business

By Brittney Neal Businesses change hands all the time, for a variety of reasons. Whether they're sold, gifted, merged, passed on to next of kin, or divided among former partners, family members or divorcing spouses, ownership of even the most stable of businesses at some point will change. And when a business changes hands in whole or in part, the parties involved need to have an accurate picture of the value of the sum total of the company's assets. That makes a business valuation an essential part of an... read more.

Launching A Business: What to Consider When Beginning Your Startup

By Wiss, Posted in Emerging Companies

By Patrick D’Angelo, CPA The first step toward launching your own business is having an idea. But even if you have an idea for a business, you may have no idea about the legal and tax obligations that await you should you put that idea into practice.  Here are several things to keep in mind before getting your startup off the ground. Separate yourself from the business Running your business through your personal bank account might seem easy and convenient, but unless you keep your business an... read more.