Ethics: How Responsible Are Bookkeepers Compared to CPAs
Do you really understand bookkeeping and accounting for your business? Accounting involves recording, interpreting, classifying, analyzing, reporting and summarizing your business’s financial data. Bookkeeping involves recording financial transactions. This is the first part of and foundation of the accounting process. If you’ve hired a bookkeeper for your small business in addition to your CPA, have […]
Powerful Accounting LLC’s Secondary Location
Powerful Accounting, LLC has opened a second office located at One Audubon Street, Suite 202, New Haven, CT which is home to our Tax Division. Give us a call today so we can assist you with all of your tax matters!
6 Compliance Hacks to Keep You on Track
What Does Compliance Really Mean As a business owner, you need to know and understand the legalities of running a business. This is why it’s important to prepare a business plan before you pitch investors (if you plan on doing this) with your business idea. You need to be aware of what you’re getting yourself […]
Super Easy Ways to Avoid IRS Audits
IRS Audits are Not a Laughing Matter Do you have visions of IRS agents with their feet up on their desks as they review tax returns? You may imagine them with smiles on their faces as they say, “Gotcha!” In all seriousness, an IRS audit can damage your reputation and hurt you and your business. […]
You Should Worry about Fraud Period
Shining the Spotlight on Business Fraud The Association of Certified Fraud Examiners 2014 Report to the Nations states that “survey participants estimated that a typical organization loses 5% of revenues each year to fraud. When applied to the 2013 estimated Gross World Product, the result is a projected global fraud loss of nearly $3.7 trillion.” […]