How a Mentorship Might Advance Your Career

By Wiss, Posted in Human Resources

By Kevin Kurtz You’ve graduated from college with a degree that should give you a good starting point to a gratifying career. But you don’t actually have that job yet. Do you know which career positions to pursue? Large employer or small? Relocate or stay local?  From point of graduation forward, it can be beneficial to have the insight and advice of someone older who’s been where you hope to go. Someone who has navigated the obstacles and blind alleys you’re about to confront... read more.

Recruiting for Millennials

By Wiss, Posted in Human Resources

By Kelsey Silverstein Developing a recruitment strategy that targets millennials is no longer a future concern. It is a present-day prerequisite to obtain top talent.  In order to attractively advertise your company to these young professionals, we first need to define them. So, who are Millennials? Millennials are a cohort that range from ages 23-38. In 2017, Pew Research Center found that 56 million Millennials were either working or actively seeking employment, surpassing Gen-Xers. They comprise... read more.

Update: Fishbowl Vs. Quickbooks

By Wiss, Posted in Advisory Services

By David Singletary  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, one application is Fishbowl—a manufacturing and inventory control system that integrates seamlessly with QuickBooks. Fishbowl Manufacturing is designed for small to mid-sized compani... read more.

How our Wiss Team Members Decompress During Busy Season

By Wiss, Posted in Wiss Gets Personal

By Wiss Associate While in the midst of busy season, it’s difficult to see the light at the end of the tunnel. Early mornings, late nights, sacrificing weekends – it’s the life of an accountant: working endlessly January through April (and let’s not forget August through October) to make sure our clients are well taken care of. So, who takes care of the accountants while they’re deep in the trenches? While here at Wiss we do our best to create a fun and inviting atmosphere, e... read more.

Common Accounting Terms Explained

By Wiss, Posted in General Business

By Louann Cassano Feel like your accountant is speaking another language? We won’t make you feel that way. Here are some common accounting terms to help you sound like an accounting pro: The Balance Sheet is the financial statement that includes your assets, liabilities and equity.  Assets always equal Liabilities plus Equity. Income Statement (also known as the P&L) is the financial statement that includes your sales and expenses.  The expenses are subtracted from... read more.

Here's Why Your Tax Refund Might Not Be What it Once Was

By Wiss, Posted in Tax

This 2018 U.S. federal tax filing season, the good news might actually be the smaller refunds seen by many Americans. However, you might be understandably hard to convince if you, your employees or family members fall into this category.  At this point in the tax return season, many are dismayed to find their refunds are smaller than expected. Or non-existent, in the case of those shocked to find that they owe more. Spoiler alert: the culprit is most likely to be the Tax Cuts and Jobs Acts and the som... read more.

3 Areas Contractors Should Focus on to be Successful in 2019

By Wiss, Posted in Construction

By Timothy Kennedy As we formally say good bye to 2018, we enter a new year that brings lots of promise. In order to seize the opportunities that will be presented to you in 2019, consider solidifying your approach to the following areas of your business: Accounting software A robust accounting software that is customized for your needs is a must in 2019. Contractors have unique needs that need to be addressed in order to have an accurate financial picture. Some of the items that you should consider when... read more.

Trust Nexus Tax Case on SC Docket Could Have Wide Ranging Implications

By Wiss, Posted in Tax

By Arfa Scott Following its June 2018 decision in Wayfair, the U.S. Supreme Court continues to focus on cases that deal with how much taxation states can impose and in what circumstances.  In January 2019, the nation’s highest court agreed to look at under what circumstances a state can impose its income tax on a trust by granting certiorari in the case of North Carolina Dept. of Revenue v. Kaestner Family Trust.   The Kaestner Trust case involves a New York trust whose only contact w... read more.

HR ALERT: NJ Paid Family Leave

By Wiss, Posted in Human Resources

Governor Murphy has yet again signed a bill into law providing New Jersey employees with greater benefits. This new law expands the already existing paid family leave program in New Jersey, which has been in place since 2009.   The existing program has provided paid leave to workers for up to six weeks, at a benefit equal to two-thirds of their pay, with a maximum benefit of $650 per week.  Under this new law, which takes effect July 1, 2020, employees will be able to take 12 weeks of paid... read more.

Inventory Management Systems

By Wiss, Posted in Advisory Services

By David Singletary  Are you still using Excel spreadsheets to keep track of your company’s inventory? You’ll know it’s time to upgrade when your business grows to the point where you or your people are spending way too much time inputting static data.   A good inventory management system should do the heavy lifting. Here are a few features and capabilities a good solution should offer.  Multiple costing method options -- You shouldn’t be limited to just one me... read more.