President-elect Donald Trump’s agenda places tax changes as a high priority item. Some of the proposed changes are a radical departure from where the tax code stands now and will significantly impact both individuals and businesses. Keep in mind that the proposals outlined below are just that – proposals. They will probably change in substance…
If you have a business that deals with the public, it is almost inevitable that you’ll get a negative online review at some point. To a small business owner, a highly critical review can be alarming, especially if the business is local and has a relatively small base of potential clients. If you are providing…
What year did you join Scott and Company? I joined the firm in late 2012. Where did you go to college? I attended Columbia College, where I earned a Bachelor of Arts degree in Accounting. Why did you choose Scott and Company? At my previous firm, our desire was always to provide exceptional tax and…
In the ever challenging field of maximizing profits and providing top class customer service, inventory management is an often overlooked area. Perhaps it’s time to take a short assessment of your inventory tracking processes to see where newer technology can boost your bottom line. Don’t think you can afford the software systems of bigger companies?…
It is hard to know which is more alarming – that a security breach can affect more than 500 million people, or that it has taken nearly two years for the public to be informed of such an incursion. Yahoo’s major data breach is but the latest to hit the headlines. It might be somewhat…
The advent of sites such as Airbnb, HomeAway and VRBO have created the opportunity for millions of people to run a great side business renting out their home. There are people who make tens and even hundreds of thousands of dollars a year. Making rental money through these sites is like every other business endeavor,…
Back in October 2015, retailers experienced a liability shift when the onus for absorbing the cost of counterfeit transactions shifted from the banks to the individual merchants if the retailers had not migrated from swipe card systems to the newer EVM technology. Those merchants who installed EMV (chip) technology in their cash register networks by…
Whether it’s an election year or not, the stock market doesn’t like uncertainty. Unfortunately, in a highly charged election year like this one, uncertainty is the only sure thing we can count on. In the 22 election years since 1928, the United States has experienced 18 positive returns and only four negative returns. One interesting…
Where did you go to school? I earned two degrees from the University of South Carolina (USC), a Bachelor of Science in Accounting (1982) and a Master of Accountancy (1983). I graduated from Chester High School. Why Scott and Company? I knew that Scott and Company is a very high quality, progressive firm of certified…
Traditionally, the IRS subjects large corporate taxpayers to nearly continuous audits of their tax returns. In recent years however, IRS funding has been substantially reduced, making this strategy unsustainable. As a response, the agency is creating new approaches to how it audits businesses – and companies need to prepare. As part of its new approach…
