Ultimate Account Blog

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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Estates and Inheritance – Is it Taxable?

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 Risk 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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When Civic Duty Becomes a Fraudulent Request for Money or Information

Recently, I was notified that I had been selected to fulfill my civic duty and serve on a jury. Like most professionals in the public accounting arena, it seemed like I was destined to be selected during the very busy month of March. Fortunately, the one-time deferral came in handy…

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Why is Positive Feedback so Important?

In the world of human resources, we hear time and time again that “Positive Feedback” is crucial to retaining great employees.  Too often we provide constructive feedback and even negative feedback when a problem or error occurs.  This scenario often leads employees to feel under-appreciated and can lower morale…

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Fiscal Year Corporations and the Tax Act

Aside from those who filed extensions, the 2017 individual tax return filing season is over, and not without a few hiccups. As some close to the present administration have conveyed, this was the last year that taxes are filed under the present system, with most of the…

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5 Key Differences Between QuickBooks Desktop and QuickBooks Online

Businesses that use QuickBooks often ask about the differences between QuickBooks Desktop and QuickBooks Online (QBO), which was introduced in 2000. My response to that inquiry is that they are different products and fit different situations. Identifying which features are needed from the software will determine which option…

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