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Categories for Blog

  • Super Apps and Their Impact on Traditional Business Models

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

    🖨 Print⏱ 5 min readAs technology advances, users crave convenient and feature-rich solutions. In mobile app development, the concept of super apps is taking the tech world by storm. These apps include a wide range of services within a single platform, such as messaging, payments, ride-hailing, food delivery, and more. Super apps have disrupted traditional business models by providing a more convenient, personalized, and cost-effective user experience. Defining Super Apps Super apps are powerful, multifunctional platforms that offer numerous services, from transportation and finance to e-commerce and social networking, all within a single application. This is unlike standalone apps, where... View Article

  • New Business Travel Per Diem Rates Announced for 2023-2024

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

    🖨 Print⏱ 3 min readNew per diem rates were recently announced by the IRS and are effective for per diem allowances on or after Oct. 1, 2023. These updated rates include changes for the transportation industry, incidental expenses as well as the high-low substantiation method. Before we dive into the detailed changes impacting per diem rates, let’s revisit the concept of the per diem in general. To Per Diem or Not to Per Diem There are two basic ways that employees can be reimbursed for business travel expenses. The first is a direct reimbursement of the actual expenses. The second... View Article

  • Two Ways to Measure Revenue Per User

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

    🖨 Print⏱ 3 min readWhen it comes to measuring revenue, it’s essential that businesses analyze it from a variety of perspectives. While there’s revenue and net income on an income statement to show a company’s quarterly financials, another way to measure it is through ARPU (average revenue per user) and ARPPU (average revenue per paying user). Defining ARPU ARPU is the average revenue per customer or per unit. It looks at how much revenue is earned over a particular timeframe (multiple times a month, quarter, half-year, or 12 months) divided by the average patron during the same timeframe. This can... View Article

  • 2024 Cost of Living Adjustments

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

    🖨 Print⏱ 4 min readIn one year’s time, the U.S. inflation rate dropped by more than half, from 8.2 percent in September 2022 to 3.7 percent in September of 2023. If there is a downside to lower inflation, it’s a lower cost of living adjustment (COLA). This year, the inflation rate plummeted from 6.4 percent in January to the current 3.7 percent. While food prices, both grocery and dining out, continue to increase. Between February 2020 and September 2023, grocery store prices rose 25%. That was slightly above the 23% increase in menu prices during the same period. But a... View Article

  • Securing Your Identity: The Role of Decentralized Identity Systems in Data Breach Prevention

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

    🖨 Print⏱ 4 min readData breaches have been on the rise as cybercriminals keep coming up with new ways to steal user-sensitive information. Just in the second quarter of 2023, 110.8 million user accounts were breached. Of these accounts, 49.8 million were from the United States, accounting for 45 percent of the global figure. However, amid the rising threats, a revolutionary concept known as decentralized identity systems has created a solution to reduce data breach cases. Data Breaches and the Current State of Identity Management A data breach happens when unauthorized individuals or entities gain access to sensitive information, often... View Article

  • IRS Plans to Use AI and Ramp Up Enforcement on Millionaires, Partnerships and Crypto

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

    🖨 Print⏱ 4 min readRecently, IRS Commissioner Danny Werfel spoke of changes within the IRS, announcing several initiatives focusing on high-income earners and partnerships, as well as integrating the use of AI within the agency’s work. According to the commissioner, the initiatives were made possible by additional IRS funding provided by the Inflation Reduction Act. Without the funding from this bill, the agency would not have the budget to implement these ramp-ups in enforcement. Millionaires with Tax Debt The new initiative on millionaires is not just because they are high-earning taxpayers; it will focus on those with open tax debt.... View Article

  • Common Financial Reporting Mistakes and How to Correct Them

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

    🖨 Print⏱ 3 min readWith accounting fraud and financial reporting mistakes creating a lack of confidence, understanding how financial reporting mistakes occur and are detected is an important topic. According to the Association for Federal Enterprise Risk Management and the U.S. Securities and Exchange Commission, the first nine months of 2018 saw 8.8 percent more accounting fraud enforcement action cases versus 2017. Controls are procedures implemented to lower the chance of financial reporting issues. While these mechanisms are meant to prevent an overload of problems, they are not always foolproof. Corporations also are required to show that sufficient financial oversight... View Article

  • Work and Social Security Benefits

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

    🖨 Print⏱ 4 min readYou can work and still receive Social Security benefits, but how much you receive depends on a number of factors. First, if you do plan to continue working after becoming eligible to receive benefits, you might consider delaying filing for benefits for as long as possible. That’s because the earlier you begin drawing benefits, the lower the amount you will receive. In fact, your monthly payout will be permanently reduced from what you’ll receive if you wait until full retirement age (FRA). Your FRA depends on the year you were born (note that for people born... 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

    🖨 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

    🖨 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

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