Ultimate Account Blog

Tax Reform and Charitable Giving: Navigating Charitable Donation Strategies

The Tax Cuts and Jobs Act was passed with much fanfare in December 2017 and has had significant, far-reaching implications. While the impact of this tax reform is generally positive for taxpayers, one area of concern is the effect it will have on charitable giving to non-profit organizations. We’ll be looking at…

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Company Core Values: Why They’re Crucial to Your Business’ Success

Last week, I attended an excellent seminar in Wilmington that touched upon leadership topics, financial wellness, and the ability to make an impact in the community, among other themes of the day. The 2018 Millennial Summit opened with keynote speaker Devon Still, a former Penn State All-American and NFL player,…

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Importance of Understanding Your Audience During Nonprofit Financial Reporting Changes

Remember the days of sitting in your middle school writing class? Your teacher emphasized the importance of understanding who your readers were. Understanding your audience is a key component in communicating information. While opening a financial statement can be overwhelming at times, it can become even more confusing if you’re…

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Is it Time for a Paycheck Checkup?

Did you owe additional tax when you filed your 2017 Form 1040 federal tax return earlier this year? If so, you can avoid an unexpected tax bill this year by doing a “paycheck checkup” as soon as possible.  Even if you did not owe any tax, it still would be…

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Disaster Recovery Planning: How to Prepare Your Business for the Unexpected

You often hear the term “disaster recovery plan” in reference to computer systems, but have you ever considered how the concept may be important to your daily financial and accounting operations? Illnesses, accidents, and employee resignations can happen at a moment’s notice without warning, forcing companies to react quickly with…

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Managing Stress in the Workplace

For accountants, it happens in the second week of March. You’ve already stopped trying to keep up with current events or having quality time with your spouse or significant other.  You are almost at that point that when you walk in the door at home, you grab something to…

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Overcoming Those Post-Vacation Blues and Anxiety

The airplane touches down on the tarmac, returning you from a trip that took years of planning and saving.  The food was superb, the sites were breathtaking, and the weather was spectacular. Even your luggage was waiting for you at the baggage carousel upon arrival to end your trip…

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What Makes An Ideal Team Player?

Renowned business author Patrick Lencioni was recently in the county speaking about corporate culture. Lencioni has written a number of books, the most popular of which is probably The Five Dysfunctions of a Team, but one of his newer books, The Ideal Team Player, speaks to the soft skills that…

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Is Inheritance Taxable? Exploring Inherited Estates & Money

When a major event, such as a death in the family, occurs and you are uncertain what the tax implications are, it is best to seek out the expertise of a CPA to help answer your tax questions.  “My aunt passed away and left me some money . . .…

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How to Minimize Risks for Long-Term Contracts to Maximize Profit

The Associated Builders and Contractors (ABC) reported that its Construction Backlog Indicator (CBI) increased to 9.67 months for the fourth quarter of 2017, the highest it had ever been.  While the increase in backlog is a positive outlook for the construction industry for 2018, many will struggle to translate…

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