Nonprofit Accounting - Don't Get Tripped Up by Form 990 Requirements

By Wiss, Posted in Not For Profit

By Linda Curro What’s in the price of a ticket?  For nonprofit organizations that hold fundraising events and for the people who attend them, the answer is more complicated than it might appear. It’s important to get special event reporting correct because Form 990 has specific lines on the Revenue Statement to report fundraising events. The ticket price of every event carries two components within it – the donation amount and the entertainment benefit. Whether it’s a dinner,... read more.

Wiss: Where Family Comes First

By Wiss, Posted in Workplace Culture

By: Fatima Wallizadeh Life never prepares you for a loss. When a personal tragedy suddenly pierced my family and I, it was one of the toughest experiences we have ever encountered. Unfortunately, this tragedy occurred in the midst of busy season at Wiss, the most frenzied and exigent time of year at any accounting firm. Now not only would I have to cope with the tragedy—I would have to steady the myriad responsibilities that occur during this period on top of it. Already being in a different state,... read more.

Wiss’ Trailblazing Female Figures: Celebrating National Women's History Month

By Wiss, Posted in Wiss Gets Personal

By: Danielle Patton The observance of National Women’s Equality Day not only celebrates the adoption of the 19th Amendment, but commemorates women’s remarkable and courageous efforts towards absolute equality in the workforce and all aspects of life. To honor this historic day, we would like to highlight Ugochi Oguh, an Audit Senior and inspiration leader at Wiss. Ugochi has a vast history of stimulating diversity and helping nonprofits conquer their financial and business challenges. After re... read more.

End-of-Year Tax Planning: How to Lessen Year-End Stress

By Wiss, Posted in Tax Services

By Laura Melville We are more than halfway through 2017 – and that means the fourth quarter is already on the horizon. When those final three months of this year arrive, it’s time for your business to focus on planning for 2018 in earnest. Unfortunately, many businesses wait to begin year-end planning until then, as well. Your team will already have its hands full preparing budgets and mapping out your company’s strategies for the following year, and an end-of-year tax preparation-planni... read more.

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.