Articles Tagged - Advisor

The Benefits of a Clean Chart of Accounts

By Wiss, Posted in Accounting and Auditing

By Wiss Associate As a business owner or executive, year-end processes and reporting can be a nightmare – but it doesn’t have to be. You don’t need to scramble when your accountant asks for your tax deductible items or when your auditor requests various reports so they can perform testing. It should be a simple process to go into your accounting system and run reports with 100% confidence they are complete and accurate. But how do you know if they are truly complete and accurate? It start... read more.

Holy Matrimony: Contractors and New Jersey Sales Tax

By Wiss, Posted in State & Local Tax Services

By Tim Kennedy Not all work performed on a property is created equal in the eyes of the tax collector. Some improvements fall into the realm of capital improvement, while others are considered repairs, and still others are maintenance services. Because New Jersey sales tax rules differ based on the type of work performed, it is important to understand the classifications to avoid paying too much or too little in taxes. Here’s what you need to know. What work is exempt from sales tax? For owners of... 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.