You might think keeping financial information under your hat is best for your business, but learning to share could help you and your employees achieve your business goals. AUGUST 04, 2014 Some years ago, I hired an attorney to represent me on a small matter. He was young and very successful, expanding quickly and running [...]
About Nichols Accounting
PartnersWe understand that you need a partner to deliver innovative services and ensure access to timely information that will enable you to make critical business decisions. A partner that takes the time to get to know you, and expects you to spend the time to keep them informed. Partners that can help you automate everyday processes, and maximize efficiency and productivity. Someone who acts like an extension of your own staff and is accessible, accountable, and available as needed.
ExecutionOur promise is a year-round forward focus that achieves specific outcomes by design, not by chance. Results oriented, quality financial assistance is an investment where returns are measured in preparedness, tax savings, and consultation that positions you to meet your financial objectives.
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The very name “internal control” poses a problem for companies when they deal with outsourced providers. This internal responsibility for external functions has become one of the biggest challenges for companies in the 2013 update of the widely used internal control framework created by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). COSO [...]
An anonymous couple in California’s “gold country”—named after the 1849 Gold Rush—found $10 million in rare gold coins buried in cans on their property. Why stay anonymous? They don’t want people digging on their property. After all, this is the biggest and best coin discovery in U.S. history. So said Davis Hall of Professional Coin [...]
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The additional 0.9% Medicare tax applies to FICA wages and self-employment income exceeding $200,000 per year ($250,000 for married filing jointly and $125,000 for married filing separately). Unfortunately, the withholding rules have been tripping up some taxpayers, causing them to face an unexpected tax bill — plus interest and penalties — when they file their [...]
When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs (though of course the specific rules are more complex). If when filing your 2014 income tax return you’ve found that your business had an NOL, there is an upside: tax benefits. When a business incurs a qualifying NOL, the loss [...]