Articles Tagged - business

EB-5 Legislation Could Spell Change for Foreign Investors

By Wiss, Posted in International Tax Services

By Mark Feldstein The Immigrant Investor Program, more commonly known as EB-5, found itself in the news recently due to the introduction of a Congressional bill in July 2017 that could change qualifying terms. But first, let’s review the EB-5 program and how it currently affects foreign investors and entrepreneurs. Program Overview The federal EB-5 Program has been in effect since 1992. Its purpose is to provide U.S. visas and a path to citizenship for immigrants who invest at least $1 million in a... read more.

Breaking the Accountant Stereotype

By Wiss, Posted in Accounting and Auditing

By Wiss Associate Think of an accountant, and what do you picture? If you follow the common societal stereotype, you may envision someone with a pocket protector and a beige plastic raincoat who goes to bed cuddling his calculator, with no emotion and no social competence. A person who would rather recite the square root of pi than eat pie. Think of an entrepreneur, and you probably picture an entirely different image. Beyond the sheer sophistication of the word “entrepreneur” itself, these a... 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.

Changing Overtime Rules? New Recommendation Could Change Who Qualifies

By Wiss, Posted in General Business

By Laura Melville Under current regulations, employees are exempt from overtime pay if they meet three criteria: the employee must be salaried, perform executive, administrative or professional duties, and earn more than $455 per week, or $23,660 per year. The current salary threshold was enacted in 2004. But that salary threshold could be increasing, as the U.S. Department of Labor last year recommended raising the salary criteria to $913 per week, or $47,476 per year. (The rule was scheduled to take eff... read more.

The Power and Pitfalls of Pressure

By Wiss, Posted in General Business

By Connor Doyle There are few things done in the business world that are performed at a leisurely pace. Owners don’t wander through their fiscal year, money doesn’t change hands without intent, and bosses don’t demand 10% of one’s abilities within a project. More often than not, there’s an urgency to requests. There’s an unspoken agreement that a concerted effort will be made towards completion in a timely manner. With that request comes pressure, and with that pressure... read more.

Accounting and Finance: A Forbidden Love

By Wiss, Posted in Accounting and Auditing

By Connor Doyle Accounting, our Romeo, and Finance, our Juliet. Two houses, both alike in dignity, in fair New York City, where we lay our scene, from ancient bond break to new maturity, where credit balance makes cash on hand burst seams. Accounting and finance, though both safely under the business umbrella, are divergent in ideology. Finance wants to spend and raise money for the future of a business while accounting wants to keep track of all that has happened in the past. But, both often use informati... read more.

Take Your Inventory Management System Out of the Spreadsheet Age

By Wiss, Posted in Advisory Services

By Donna Woronka Many businesses start up so modestly that they can fit their full inventory in their garage, a slice of rented warehouse or in that dark, cobwebby storeroom in their building—and easily keep track of it via a spreadsheet. But as businesses grow and inventory expands, all that manual input catches up with them.   In the first place, spreadsheet inventory management is a laborious operation that takes key people away from what they should be doing. And manual input is ripe for th... read more.

What the DOL Looks for During an Audit

By Wiss, Posted in Employee Benefit Plan Audits

By Craig Erickson  You’ve just learned that the Department of Labor’s Employee Benefit Security Administration has selected your company’s retirement plan for an investigation. Are you and your plan prepared for an audit? The DOL typically doesn’t provide much notice before beginning an audit, which can last several days, weeks or longer. However, in advance of starting, you will receive an investigation notice that includes a list of documents its people will want to review w... read more.

Tips for Providing Quality Client Service

By Wiss, Posted in General Business

By Carrie Grotz  I am a lover of coffee and I frequent Dunkin Donuts (DD). I know their menu so well in fact, that I could probably work there. From the moment I enter a DD, I can usually tell which have knowledgeable staff, good donuts (the ones that look fresh, large and full of filling), those that offer the “fun” munchkins instead of just the plain, chocolate, and powdered ones, and just by glancing at the staff, I can usually tell from the moment I place my order if the coffee is... read more.

Preparing for a Financial Audit

By Wiss, Posted in Accounting and Auditing

By Randy Cohen “We’re being audited.” Those three little words can strike fear into the heart of any executive. Nobody likes the prospect of an outsider combing through the books and potentially exposing errors. Yet as unpleasant as a financial audit can be, with the right attitude and approach, it can prove a valuable tool for improving your business — and an auditor can be viewed as a trusted adviser instead of as an adversary. The key to an efficient and successful financial au... read more.