The Internal Revenue Service believes the small business sector is a major source of under-reported income. For the past four years, the agency has run a special independent office charged with finding how to encourage small business owners to report their earnings more accurately. The IRS finds sole proprietors especially challenging. Many operate on a…
The biggest news in markets across the world was the British vote to pull out of the European Union after some 43 years as a participant in the EU (and the former Common Market). It’s estimated that global markets lost the equivalent of $2 trillion in value on June 24, when the results of the…
Being an acknowledged leader and innovator in social media doesn’t provide immunity from cyber attacks. It has been reported that Mark Zuckerberg, head of Facebook, recently experienced hacking of both his Twitter and LinkedIn accounts. Cyber thieves continue to up their game, and regardless of whether you are a high-profile billionaire or an ordinary citizen,…
Where did you go to school? I graduated from the University of South Carolina in 1998 with a bachelor’s degree in business administration with an emphasis in accounting. Why Scott and Company? In 2003, a call from a head hunter led me to a breakfast meeting with the late Randy Scott, the…
Identity theft remains one of the most pervasive crimes in the United States. As technology gets smarter, so do the scammers. Here are the most common warning signs that your personal/confidential information may have been stolen. You see charges you don’t recognize (or companies you don’t know) on your credit card bill Withdrawals you haven’t…
There are no fast fixes that will guarantee your online security, but here is a simple checklist that can help keep your data and your identity secure. Stay current on all software and OS updates. Updates appear frequently—always in response to some new vulnerability or malware. If you use Windows 10, go to “Settings” and…
In the traditional sense of financial markets, they are cyclical. Sectors get hot, industries bank on trends, and companies ebb and flow on the whims of consumerism. But at the micro level, innovation always persists. Even during a decline across nearly every asset class, some cool concept is created and developed. For example, Airbnb was…
After another tax season, it is a great time for families and college students to re-familiarize themselves on the available tax benefits that could potentially lower higher education costs. According to research by Sallie Mae, the average family with higher education costs spends more than $24,000 a year on college. However, only one-third of these same…
What inspired you to become an accountant? My first accounting professor truly enjoyed the profession. Her enthusiasm and my technical skill prompted me to learn more. I also liked the symmetry of bookkeeping. What do you enjoy most about Columbia? Columbia is a wonderful place to raise a family. We have strong community resources and…
Whether you prepare your tax return yourself or hire a professional, there are certain things you should know. Often it is not until a person reaches their mid- to late twenties that tax returns become more complex and they need to be more informed. Below are seven fundamental tax concepts that usually are not taught…
