Business Finance Archives - Page 2 of 3

Lawyers: Don’t Use the Firm’s Bank Account as a Personal Piggy Bank

When you setup a law firm, or really any business, one of the first things that we tell you is to separate out your business transactions from your personal transactions. It's important for concepts like protecting the corporate veil, making

Bench Accounting Closes: Next Steps for Clients

On Friday, Bench Accounting, the Canada-based online bookkeeping and tax platform, abruptly announced that it was closing, effective immediately. Suddenly, Bench's clients were unable to access their data and information. That's a scary situation for businesses, especially as it is

A Guide to Conducting a Tech Audit to Save Money

Every fast growth company gets software bloat over time. It's why I regularly recommend that my clients conduct a tech audit, where you take a look at all the software, SaaS, and related accounts to make sure you are paying

Should I Buy A Business Vehicle to Save on Taxes This Year?

Now that Halloween is over, you may start to look at year-end tax planning and be pretty scared of what you are facing, if you've had a good year. You are looking at that P&L and seeing all that profit,

Prepare for Year-End for a Great 2025

Whether it is the pumpkin spice lattes in your coffee cups or Christmas decorations in your local Costco, when did you realize that we are coming up quickly on the end of the year? Less than 4 months to go

Written Information Security Plan Required for Financial Companies

Have you asked your Fractional CFO for their Written Information Security Plan (WISP)? Do you even know what a WISP is? Let's take a look at what a WISP is and what it contains. And why they are important to

The 3 Basic Financial Statements for Business Owners

Finances are like the scorecard that tells you how well your business is performing. But is the thought of business finance like getting a lab report after a doctor's visit: total confusion, like you are reading Greek? Let's dive into

When Managers are Liable under the FLSA

Did you know that a non-owner wage-earning manager could have personal liability under the Fair Labor Standards Act for unpaid overtime and minimum wage violations? A new 11th Circuit opinion sheds light on exactly this scenario. Background on the Spears

Court Dismisses Anti-DEI Lawsuit Against Hello Alice

After the Supreme Court's decision in Students for Fair Admissions v. Harvard in 2023 that said colleges and universities could not expressly consider race in the admissions process, we knew it was only a matter of time until similar groups

Court Halts DOL Increase of Minimum Salary for Overtime Exemption

BREAKING NEWS: Today, November 15, 2024, a federal court judge in Texas halted this rule nationwide. More information below. On Tuesday, April 23, 2024, the U.S. Department of Labor issued a new rule raising the salary thresholds for employee overtime