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Author Archives for Service2Client

  • Cybersecurity Best Practices for the Holiday Season

    Posted Date December 1, 2024 Posted Time 12:00 am Published in

    The holiday season is when most people go on shopping sprees and travel. This season also witnesses a surge in online activities in today’s digital world. Unfortunately, cybercriminals take advantage of this period to launch attacks. Therefore, cybersecurity should be the top priority for a business gearing up for peak sales or a shopper looking for the best deal. Understanding Holiday Cyber Threats Businesses and consumers face unique challenges during the holiday season. For businesses, the increase in traffic and online transactions can overwhelm systems. This may make them vulnerable to attacks. Cybercriminals may use tactics such as ransomware, phishing... View Article

  • Pre-Retirement Planning Guide – Finding Purpose In Life

    Posted Date December 1, 2024 Posted Time 12:00 am Published in

    Step 7: Find Your Raison d’Etre What do you consider to be your purpose in this world? Few people think about their life that way. In Japan, they call it your ikigai. In France, they refer to your raison d’etre. For Americans, that roughly translates to your purpose in life or your reason for being. It’s easy to consider your family or even your career as your reason to live. But true embracement of the ikigai concept is more of a lifestyle, not a specific person, place or thing. Your purpose may not even be something you’ve pursued in your... View Article

  • Cash Conversion Cycle (CCC) Defined

    Posted Date November 1, 2024 Posted Time 12:00 am Published in

    This metric, which is also referred to as the cash cycle or the net operating cycle, looks at the time a business takes to recover its investment in inventory to eventually sell. The process starts from selling its goods, collecting on outstanding receivables or invoices, and satisfying its operating costs with the sale proceeds. It’s normally measured in days to determine the company’s financial health. The less time necessary to complete the CCC, the healthier a company is financially because it means the business’ money spends less time tied up in inventory or collecting on outstanding inventory. It’s important to... View Article

  • Pre-Retirement Planning Guide – Legacy Planning

    Posted Date November 1, 2024 Posted Time 12:00 am Published in

    Step 6: Looking to Legacy Planning to Address Future Needs of Family How do you want to be remembered? People often view their legacy as a way of disseminating assets to charitable venues to be remembered as passionate and generous supporters. That is one aspect of a legacy. But perhaps the most important legacy plan is how you want to be remembered by your family, friends and loved ones. If you do not develop an estate plan and communicate it with your loved ones, if you leave your financial accounts and investments in a state of disarray by not keeping... View Article

  • 2025 Federal Income Tax Brackets

    Posted Date November 1, 2024 Posted Time 12:00 am Published in

    According to estimates, inflation adjustments to the Internal Revenue Code are expected to yield increases of 2.8 percent compared to 2024 amounts. This means wider tax brackets and increased exemptions, among other things. With the U.S. Bureau of Labor Statistics consumer price index (CPI) moderating, this increase is about 50 percent less than 2024’s inflation adjustment. Below, we’ll look at what the projected 2025 inflation adjustment means in terms of dollars and cents for you and your taxes. Individual Income Tax Brackets The tables below illustrate the individual income tax rates and brackets for 2025. Individual Income Tax Brackets &... View Article

  • Social Media Marketing: A Game-Changer for Business Growth

    Posted Date November 1, 2024 Posted Time 12:00 am Published in

    Social media has evolved from a simple networking platform to a powerful business tool. Businesses today use these platforms with billions of active users worldwide to connect with their target audience. Social media allows businesses of all sizes to reach audiences in a way that traditional advertising, such as print or television, cannot. The Role of Social Media Marketing in Business Growth Social media marketing uses social media platforms such as Facebook, LinkedIn, Instagram and TikTok to promote a business’ products or services. This is done through sharing content like posts, videos and ads to engage a targeted audience and... View Article

  • Zero Trust Security Models: The New Standard Against Data Breaches?

    Posted Date October 1, 2024 Posted Time 12:00 am Published in

    As technology evolves, so have data breaches, which have become a significant threat to businesses of all sizes. We frequently hear reports of high-profile attacks on major organizations, global corporations, and even government agencies. Emerging technologies such as generative artificial intelligence and machine learning make cybersecurity more challenging. They enable cybercriminals to automate attacks, create sophisticated phishing schemes, and develop advanced malware to evade traditional security measures. Hence, companies have no choice but to change how they approach cybersecurity. To deal with these modern threats, Zero Trust security models are gaining widespread adoption as the preferred standard for effectively protecting... View Article

  • The New Era of “No Tax” Policies: Selective Tax Exemptions and Their Side Effects

    Posted Date October 1, 2024 Posted Time 12:00 am Published in

    Former President and current candidate Donald Trump introduced a new policy of his in a recent Arizona rally: No more income tax on overtime pay. This follows both Trump and Vice President Harris’ proposal for a no income tax on tips policy, as well. Below we will look at the two recent proposals and what they could mean for both taxpayers and businesses. No Tax on Tips The no tax on tips policy looks to lighten the tax burden on service industry workers. According to the Fair Labor and Standards Act, anyone who “customarily and regularly” receives $30 or more... View Article

  • Pre-Retirement Planning Guide Estate Plan

    Posted Date October 1, 2024 Posted Time 12:00 am Published in

    Step 5: Estate Plan The value of an estate plan is twofold. Yes, you want to pass your assets on to heirs in a seamless and tax-efficient manner. But it is also a roadmap to help your heirs understand the full breadth of your assets, where they are located, and how they should be disseminated according to your wishes. Two important components of your estate plan come into play before you pass away. The first is a Power of Attorney. This document appoints someone you trust – a relative, a friend or a custodial like a bank – to handle... View Article

  • How to Measure the Quality of Accounts Receivable

    Posted Date October 1, 2024 Posted Time 12:00 am Published in

    Analyzing a company’s Accounts Receivables is an effective way to measure its current cash flows and the likelihood of maintaining healthy cash flows. According to the U.S. Chamber of Commerce’s Small Business Index (Third Quarter 2024), 68 percent of small business owners reported being content with their third quarter cash flow performance. This illustrates the importance for small business owners to do everything possible to maintain healthy cash flows, including evaluating the quality of accounts receivables (A/R). Defining Accounts Receivables This account or line item on the balance sheet gives the business’ managers/owners and investors a measure on how much... View Article

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