What is Financial Modeling
Financial modeling estimates the future financial performance of a business. It combines accounting, finance, and business metrics that come together to form the estimate. Relevant factors, such as growth and risk assumption, as well as their impact, allow business owners to gain valuable knowledge of all financial forecasting variables. Financial models are, essentially, a long […]
What is Corporate Governance & Compliance?
Corporate governance practices are the rules, policies and procedures established by the corporate officers at the helm of a company to direct its activities and manage risk. Good corporate governance policies ensure that the strategies and directives developed under the corporate veil meet the ethical standards and fiduciary duties of the company’s compliance environment. Compliance, […]
What Documents are Needed to Open a Corporate Bank Account?
Unlike a personal account, business bank accounts require much more paperwork. Are they worth it? In many cases, the answer is a clear “Yes,” as they allow businesses to keep their finances separated and organized for tax season. It’s a good management tool. No matter what type of account you open, from a business checking […]
Taxes 101: How Long to Keep Business Tax Records?
Whether your business uses hard copies or paperless methods for record keeping, it can be challenging finding a place for your business records. But the fact of the matter is that different business records—tax or otherwise—have to be kept for different amounts of time, according to the periods of limitations. So, what exactly is a […]
Why is Accounting Important in Business?
Implementing accounting strategies in your business will help you avoid IRS audits and keep you up to date on the company’s financial health. But it can be a major source of stress for business owners of a small business, a corporation, or a governmental service. Accounting techniques will differ from industry to industry. You may […]
How Do You File for Bankruptcy in Virginia?
In many cases, filing for bankruptcy is one of the most stressful financial issues with which a person can be confronted. Even before COVID-19, many people would ask us: “How do you file for bankruptcy in Virginia?” because it’s a complicated process. With the help of a TPI Group tax attorney in Virginia, filing for […]
6 Ways of Protecting Your Business from Financial Loss
Financial fraud is on the rise. As a business owner, you need to do everything in your capacity to protect your business from such risks. Poor business decisions, mismanagement, and failure to take fraud seriously can lead to great monetary loss for your company. But there are ways to prevent fraud from penetrating your business. […]
10 Reasons Your Business is Losing Money
Realizing that your business is losing money rather than making it can be a harrowing moment, especially if you don’t understand what you’re doing wrong—but finding the reason (or reasons) for your money loss is the essential first step in stanching the flow of cash from your coffers. Bookkeeping woes have long kept business owners […]
Do You Know How the New Tax Bill Will Affect Your Business?
There was a lot of hoopla about the new Tax Cuts and Jobs Act for 2018. When anything changes, people are wary and when money is involved, people become anxious. It’s understandable, but people are adaptable and will come to work with the new bill’s changes. It’s important to remember in the coming year to […]
ACA Update Information for High Income Individuals
The Patient Protection and Affordable Care Act (commonly called ACA or Obamacare) continues to bring changes to the health insurance industry. The open enrollment period starts on November 15, 2014 and runs until February 15, 2015. By the end of the enrollment period, most individuals (U.S. Citizens and legal residents) younger than 65, must have […]