Author Archives for Service2Client

• How to Identify and Avoid Cash Flow Pitfalls

  Posted Date September 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readLooking at expenses for one’s business is essential to reduce cash flow issues. For example, it would show if there’s too much money leaving the business or what type of scenario the business might face if there’s an unexpected and large expense that guts the business’ cash position. Tracking expenses on a monthly basis is one way to determine a company’s financial health.   Estimating sales by starting with last year’s month-by-month figures is one way to start. Looking at credit and cash sales from a business’ monthly income statements provides historical reference. Examining both fixed... View Article

• Widow/er Social Security Benefits

  Posted Date September 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 5 min readA widow or widower is eligible for a survivor’s benefit from Social Security even if they never worked – as long as the deceased spouse qualified for benefits based on his or her own income record. Also, note that surviving spouses must have been married to their most current spouse for at least the nine months prior to their passing or for 10 years if the couple was divorced. When Can You Claim? A widow/er may apply for benefits once she turns age 60, age 50 if she qualifies as disabled or if she is responsible... View Article

• 2021 Vs 2022 Vs 2023 Federal Income Tax Brackets

  Posted Date September 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min read The US tax system is progressive, meaning that the more you earn the more you pay. For the years 2021-2023 there are seven different brackets for each year (2020 was the same structure as well). Which bracket you are in depends on your taxable income; however, your bracket does not equal your tax rate. Tax brackets work so that you pay part of your income at each level bracket as you move-up in income. In other words, someone in the 32% marginal rate bracket will pay 10% on part of their income, 12% on another... View Article

• How Businesses Can Leverage Data and Personalization for Targeted Campaigns and Growth

  Posted Date September 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readMarketing efforts today depend on collecting, analyzing, and leveraging data to make informed decisions. Therefore, business owners need to understand how to harness the power of data and personalization to create targeted campaigns that drive growth. Importance of Data and Personalization in Modern Business Businesses today collect loads of data, enabling them to understand their customers’ preferences, behaviors and interests. The data comes from different channels, such as a business website, emails, or social media. It is then used to identify patterns and trends to make informed marketing decisions. This yields valuable insights that help craft... View Article

• IRS Announces End of Unannounced Taxpayer Visits (Mostly)

  Posted Date September 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min readYou wake up in the middle of the night. Heart racing, drenched in sweat, and breathing heavily. Thankfully, it was just a nightmare when the IRS showed up at your doorstep unannounced. Recently, however, this was the reality for some taxpayers – and not just a bad dream. The IRS just publicized a significant shift in policy, effectively ending the vast majority of surprise taxpayer visits. The change comes in an effort to create safer conditions for IRS officers as well as ease public concerns. Who’s Knocking at My Door? In order to understand the change... View Article

• 2023 Sales Tax Holidays for Back-to-School Shopping

  Posted Date August 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 3 min readNow that we are heading into the backend of summer, it’s time for many states to host their annual sales tax holidays for returning to-school shopping. Numerous states with sales tax (remember, not all states have a sales tax) provide the reprieve to help families with the cost of annual school supplies and clothing. According to the National Retail Federation, nearly 80 percent of shoppers are expecting increased costs this year versus last year; so more than ever, consumers are looking for ways to save. Furthermore, about two-thirds of back-to-school shoppers take advantage of these tax-free... View Article

• How to Reduce Common Payroll Errors

  Posted Date August 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readAccording to the Internal Revenue Service (IRS) and the National Federation of Independent Businesses (NFIB), almost one-third of companies see penalties due to payroll issues. Understanding a few examples, according to the NFIB, of how companies can better comply and avoid penalties is essential to smoother operations. Underpayment of Estimated Tax by Corporations Penalty As long as there’s a reasonable expectation of at least $500 in estimated taxes owed, corporations are required by the IRS to file. If, however, a corporation doesn’t satisfy its estimated tax payments or pays them after their quarterly submission deadline, the... View Article

• Insider Threats: Identifying, Mitigating and Preventing Internal Security Risks in Organizations

  Posted Date August 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readOne of the most devious and often underestimated dangers in cybersecurity comes from within an organization. These dangers originate from individuals within the organization who have access to sensitive data and systems, making them potentially dangerous adversaries capable of causing significant harm. Understanding, identifying, mitigating, and preventing these internal security risks are paramount for safeguarding an organization’s assets and preserving its integrity. What is an Insider Threat? Insider threats are security risks posed by employees, contractors, vendors, or anyone who has access to an organization’s data or systems. Accidental or intentional insiders cause internal threats. An... View Article

• The Ins and Outs of a Reverse Stock Split

  Posted Date August 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readWhen a company decides to conduct a reverse stock split, also referred to as a stock consolidation, the number of shares available to investors is reduced. In a normal (forward) stock split, a company increases its number of outstanding shares without changing their market value. For example, one share of stock valued at $200 may split into two shares, with the shares then valued at $100 each. So, with a shareholder who holds 10 shares for a total of value of $2,000, a traditional one-to-two (1:2) stock split would change his holding to 20 shares –... View Article

• What Actions Can Data-Breach Victims Take?

  Posted Date July 1, 2023 Posted Time 12:00 am Published in Service2Client

  🖨 Print⏱ 4 min readOver the years, millions of individuals have been affected by data breaches, where their sensitive data is accessed by unauthorized cybercriminals or publicly exposed. A data breach can result in huge financial loss if stolen data is used to compromise consumer identity, which also can affect a credit score. Unfortunately, there is a great number of people who don’t know what to do if affected by a breach. At the same time, there are those in the know who do nothing. What is a Data Breach? A data breach is a cyber security incident that exposes... View Article