Federal Form W-4 changes effective 2020

Effective January 1, 2020 a new Federal Form W-4, Employee’s Withholding Allowance Certificate, will be required What is changing? The updated Form and associated withholding tables have been completely redesigned due to the 2017 Tax Cuts and Jobs Act mandates. Improvements to the form are intended to increase the transparency and accuracy of employee withholding…

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7 Reasons Why You Need to Implement Automation In Your Small Business

It is without a shadow of a doubt that automation is the future of doing business. Cloud technology has made it possible for companies to bring together previously separate applications, such as email and CRM, which was all but impossible no more than a decade ago. This simple, yet ingenious invention now allows managers to make better…

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How Does Accrual Accounting Differ from Cash Basis Accounting?

The main difference between accrual and cash basis accounting lies in the timing of when revenue and expenses are recognized. The cash method is a more immediate recognition of revenue and expenses while the accrual method focuses on anticipated revenue and expenses. The Cash Method Revenue is reported on the income statement only when cash is received. Expenses are only recorded when cash is paid…

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