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FSA and a piggy bank

Pros and Cons of a Health FSA

We work hard for our money and it is important to keep as much of it is possible and spend it in the most effective ways possible. A health flex spending account (FSA) allows you to use pre-tax dollars to pay for out of pocket health care expenses that are not covered by insurance that you would normally have to pay for with out-of-pocket after-tax money.

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tax identity theft

Security Summit Cutting down on Identity Theft

In March 2015 the IRS joined state tax governments across the country and members of the tax industry to create the Security Summit. Through this effort, the Summit was organized to fight identity theft and make everyone aware of the theft risk guiding them to take steps to protect their tax data and identities. They have prepared safeguards for the 2018 tax filing season.

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A Flat Hierarchy Story

A typical accounting firm independent of the corporate structure (partnership, corporation, etc.) is a tall vertical hierarchy from staff, up through managers to partners/owners. The hierarchy identifies the levels of responsibilities and oversight as well as the expectations concerning technical/professional skills required to complete the necessary tasks/projects at each level. Read More »

money on table as cash reserves

The Importance of a Cash Reserve Policy

We all know that the budgeting process can be quite challenging and stressful for nonprofits. A budget will not only help you plan for the future, but it also helps to assess your current financial health. Organizations have to use various methods and strategies to determine how much revenue and expenses need to be collected and spent to achieve their short and long-term goals as well as to maintain their daily operations. But less than expected factor in the unexpected into these projections or when discussing long-term goals. One of these goals should be the continued financial stability of the organization and one way to achieve that is to implement a cash reserve policy.

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chidcare provider coloring with child

Can Childcare Influence Your Tax Return?

You work full-time and hire an in-home childcare provider to take care of your two young children while you work. Did you know hiring a child care provider can influence your tax return? The good news is you can obtain Child and Dependent Care tax credit for qualifying expenses up to $6,000, the bad news is you may need to pay household employment taxes for the care provider.

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gathering around work water cooler

Meet Me at the Water Cooler: The Importance of Hydrating at Work

While the water cooler is best known as a place for casual conversation, or even a breeding ground for gripes and gossip, many forget its primary purpose — to keep you hydrated! We all know we’re supposed to consume water throughout the day, but how many of us put this into practice? Whether it’s speeding out of the house to beat rush-hour traffic or putting out fires all day at the office, taking a swig of water is the last thing on our minds. But, countless of studies have proven that maintaining proper hydration is key to performing your best and being your best. Need some convincing to increase your water intake? Let’s face the facts.

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saving money in piggy bank

Tips to a Financially Balanced Life

In today’s DIY-dominated world, more and more “things” can be completed with a nail gun, a gallon of paint, recycled wood and an extra hour of free time. These may not be the exact ingredients in the recipe to reduce your overall spending, but the DIY mentality can certainly be applied! Here are a handful of easy, do-it-yourself, non-lifestyle changing tips to help you live a more financially-balanced life.

“The best things in life are free. The second best are very expensive.” – Coco Chanel

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