Exploring Charitable Gifting Options

By Wiss, Posted in Tax Services

By Kevin Kerrigan Americans donated nearly $260 billion to charitable causes last year, according to Giving USA Foundation. The impressive figure demonstrates the value that U.S. residents, businesses and nonprofits place on charitable giving, but it is an ongoing challenge for top earners to find effective gifting strategies that maximize the tax benefit of their charitable donations. Here are two gifting strategies worth exploring when making large donations.  Donor-advised funds A donor-advised... read more.

A Startup's Guide to Seeking Investments

By Wiss, Posted in Emerging Companies

By Matt Barbieri With every investment deal comes risks and questions waiting to be answered. If you are seeking investments, it is important you are as prepared as possible when it comes time to present your case. The following recommendations will increase confidence, but more importantly, make sure you are prepared for anything investors throw at you.  Be prepared to discuss the numbers. To an investor, your story matters, but ultimately every investment boils down to the numbers. Do they mak... read more.

Millennials: One word to describe us, but we're not all the same

By Wiss, Posted in Workplace Culture

By Abby Blecker, Former Marketing Intern The term "millennial" is not only a noun pertaining to a specific age group, but a trending buzzword that has been permeated with assumptions about personal preferences in our interests, career goals, and culture. I have personally come to dislike the word, as I find I am continually lumped into a large group almost solely based on age.  I have found our age dictates an assumed culture we all want to have in our working life.  However, a much wider and br... read more.

Make the Outsourced Accounting Transition and Watch your Business Soar

By Wiss, Posted in Outsourced Accounting & Tax

By Carolyn Hall Many companies consider outsourcing their accounting services at some point in their development, whether it is to support growth, improve efficiency or simply ease the administrative burden on their staff. There are a number of advantages, but it is a big decision to outsource part of your operations. Here are five key reasons to consider making the transition.  With that responsibility out of the way, you can focus on your core strengths. The primary reason to consider hiring an o... read more.

How to reduce risk using fidelity bonds and fiduciary liability coverage

By Wiss, Posted in Employee Benefit Plan Audits

By Craig Erickson  Managing an organization’s employee benefit and retirement plan comes with risks, and potential missteps can affect both the plan administrator and participants. To protect you from those risks, insurance companies offer fiduciary bond — often called fidelity bond — and fiduciary liability coverage. And while the two terms sound similar, there are distinct differences.  Assets and administrators at risk The plan administrator can act, or fail to act, in ways... read more.

CFOs and Controllers Guide for Year-End Reporting and Tax Compliance

By Wiss, Posted in Advisory Services

For CFOs and Controllers, the end of the year is typically a hectic and sleepless time. No matter how prepared you are, end-of-year planning inevitably brings surprises and last-minute complications.  To create an accurate, timely and surprise-free planning experience, you need to stay organized throughout the year, by preparing detailed monthly and quarterly financial reporting packages that include reconciliations and detailed back-up schedules.  In addition, you should work with your outside a... read more.

New York Sales Tax and Cloud Computing: What you Need to Know

By Wiss, Posted in Tax Services

By Phil London  One of my guiding principles for giving clients strategic tax advice is don’t make a move simply to minimize the tax impact without making sure that your decision makes sense from all other business perspectives. For example, an opinion issued by the New York State Department of Taxation and Finance has businesses considering the tax ramifications of moving operational software to the cloud. The cloud The cloud includes servers, programs and computing services that work off you... read more.

What's Your Brand?

By ddalessio, Posted in Getting Hired 101

By Dylan D'Alessio Personal Branding is the process of developing a “mark” that is created around your personal name or your career. You use this “mark” to express and communicate your skills, personality and values with the end goal being that the personal brand you develop will build your reputation and help you to grow your network in a way that interests others. They will then seek you out for your knowledge and expertise. Below are some guidelines you should follow when develop... read more.

Fishbowl and QuickBooks Advanced Inventory Comparative Review

By Wiss, Posted in Advisory Services

Companies using a combination of QuickBooks and Excel are oftentimes looking to find a more robust system alternative, but are not ready for an enterprise-level ERP system. For these types of firms looking for a low-cost option that will not require the replacement of QuickBooks, we recommend Fishbowl—a manufacturing and inventory control system that integrates seamlessly with QuickBooks. Fishbowl Manufacturing is designed for small to mid-sized companies looking for a complete inventory management sy... read more.

What’s your Responsibility to Find Missing 401(k) Plan Participants?

By Wiss, Posted in Employee Benefit Plan Audits

By Craig Erickson  As the fiduciary of a 401(k) plan, you are responsible for retirement plan participants, even if they’ve left your company with no forwarding addresses or you have contact information that’s no longer valid.   If employees work at your company long enough to take part in your 401(k) plan, and then disappear, moving from state to state, taking a series of jobs,  how responsible are you for tracking them down?  When a participant cannot be located via rout... read more.