December 6, 2018
It’s a bird! It’s a plane! It’s a…cloud accountant? If the term cloud accountant sounds like something out of a mythical universe filled with unicorns and ethereal visions, well, you might be a tiny bit disappointed. But wait—you might also learn something really useful here! So don’t run away just yet. A cloud accountant is just like […]
December 3, 2018
If your business is involved in transferring money in some way (so, virtually every business out there), chances are you’ve written a check that the payee never cashed. Did you know that you’re responsible for reporting and submitting those outstanding checks to your state? That’s right—even though your recipient never cashed the check, those funds […]
November 2, 2018
Putting together a business plan isn’t something you do overnight, so it can feel unnecessary when you’re trying to get your business off the ground. As you get into the weeds with your business, however, your business plan becomes a compass for growth and sustainability. Here’s a story from one of our clients about how […]
October 31, 2018
When you’re starting a new business, you’re focused on a great idea. Then, all of a sudden, along comes reality—there’s a lot more to running a business than bringing a great product or service into the market. Here are the most common surprises our new business customers encounter in their first year in business. 1. […]
October 25, 2018
Tax Planning and The Tax Cuts and Jobs Act The tax year 2018 is quickly ending. The Tax Cuts and Jobs Act (TCJA) makes tax planning more challenging this year, but certainly not impossible. Over the following weeks, we will be discussing various aspects of the TCJA, which must be considered to maximize the tax […]
October 19, 2018
If you find yourself running a business, you should really put a ring on it—that is, make it official by choosing the right legal structure. Your designation is only about 2% less of a major, long-term commitment than a marriage. So choose wisely. 1. Learn about your options. When it comes to legal structure, you […]
October 18, 2018
Supporting the thriving community around us is a critical part of our business mission, and our partners and friends at Hubdoc (based in Toronto) feel the same way. One of their core values is: Always curious, always learning, always growing That’s why they were excited to jump on board as a Buddy Check 12k sponsor. Although they’re […]
October 17, 2018
According to the American Cancer Society, a woman has a 1 in 8 chance of being diagnosed with breast cancer in her lifetime. If you don’t already know somebody who’s dealt with this disease, you will. Our Buddy Check 12k sponsors got involved because of the ways breast cancer has touched the people in their […]
October 17, 2018
Ideally, every business begins by putting some basic processes and structures into place that ensure legal compliance and set you up for long-term success. In practice, so many new organizations start from a less stable place. It’s not uncommon for a business to start growing from someone’s garage, or maybe the founder just doesn’t have […]
October 8, 2018
If you’re like most entrepreneurs, you want to start a business because you’re passionate about something. Maybe you’ve found a new way to solve an age-old problem, or you have an incredibly creative and unique product. Maybe you’ve identified a gap in a market you’re dealing with every day and know the best possible way […]
October 2, 2018
You’ve probably heard the phrase “Early detection saves lives” in reference to some form of cancer. Have you ever stopped to think about what it means in your life? Does it motivate you to go in for regular screenings and check yourself at home? Chances are, someone in your life has been touched by breast […]
September 17, 2018
Unless your small business is an accounting business, chances are you don’t relish spending time sitting down to do the books. Traditional desktop small business accounting software packages don’t help, either. They’re clunky, take a lot of manual labor to keep up to date, and seem to always need updates. Many businesses start out with […]
July 24, 2018
Financial Solution Advisors has been named one of Jacksonville’s 2018 Best Places to Work and has been featured in the Jacksonville Business Journal. “Here at Financial Solution Advisors, we value our employees and encourage them. We strive to provide a work environment that is conducive to achieve high productivity and growth opportunities, which add to […]
July 18, 2018
Listen, we get it. All these crazy new technology fads can feel a little, well, annoying. Can’t I just do things the way I’ve always done them? Why do I need to put everything on the cloud? Isn’t that how hackers found all those embarrassing celebrity photos? My way or the highway and that’s just […]
June 13, 2018
If you’ve decided to start a business, you’re going to find yourself focusing on your creative idea—the thing you’re so passionate about doing that you’ve decided to make it your livelihood. That’s where you’re the expert. There are, however, a whole mess of other things you should do if you’re really serious about running a […]
April 30, 2018
To Shred or Not to Shred… With tax season coming to an end, it’s a good time to organize your documents and properly dispose of any records you no longer need. In most cases, the IRS only has three years after the due date of your return (or the date you filed) to perform an […]
March 1, 2018
The IRS warns taxpayers of a new twist on an old scam. Criminals are depositing fraudulent tax refunds into individuals’ actual bank accounts, then attempting to reclaim the refund from the taxpayers. Here are the basic steps criminals follow to carry out this scam. The thief: Hacks tax preparers’ computers to steal taxpayer data. Uses […]
February 20, 2018
The Internal Revenue Service failed to tell nearly half a million victims of identity theft last year their information was being used by others for employment purposes, according to a new report, which attributed the failure to a computer programming error. The report, from the Treasury Inspector General for Tax Administration, found the programming […]
February 13, 2018
Xero recently announced the next phase of its partnership with Stripe: enabling Xero customers to accept Automated Clearing House (ACH) bank transfers via its integration with Stripe. “Our ultimate goal at Xero is to make sure small businesses are getting paid as quickly as possible, while making the experience from set up to reconciliation seamless,” said Craig […]
January 23, 2018
We check our phones about 85 times a day. Chances are, you’re reading this on one right now – or it won’t be long till you check it again. A staggering 70% of internet traffic now comes from mobile devices. This ‘smartphone addiction’ gets bad press these days. For any small business owners, rather than a […]
December 4, 2017
It’s that time of year again… Okay, let’s break this down: If you paid an independent contractor or non-incorporated company $600 or more during the calendar year, you should issue a 1099 (When it comes to attorneys, you should issue a 1099 to them even if they are incorporated). Your 1099 includes any payments for […]
October 31, 2017
One of the most important financial statements your small business has is a profit and loss statement. As a start-up, your P&L statement is critical for analytical reasons, but it can also be used to assist you in getting the loan you need to finance your idea. It gives investors a clear overview of your […]
October 26, 2017
Today’s the day! The day our team has anticipated for the last month, as we’ve watched the donation pile grow with each passing day! Today, we were able to load all of those donations into a Uhaul, and send them to down to Orlando to be shipped out to our 40 Families in the Virgin […]
October 20, 2017
Growing Our Impact with the Help of Partners The response we’ve received from friends, clients, and local businesses wanting to help us with our 40 Families in the Virgin Islands project has been overwhelming. We’re so proud, and beyond blessed, to announce that we have partnered with two local businesses as drop off sites for […]
October 12, 2017
“Xero for us, was the perfect tool to give us the ability to easily understand what our financials look like at the moment” says Sebastian. Sebastian Freude, chief of staff at San Francisco-based Good & Co, has a belief that there are no bad employees or companies – just a bad fit. So it’s no […]
October 10, 2017
How Hurricane Irma Proves Your Business Needs To Be on The Cloud Last month, Hurricane Irma set new flooding records in Florida and the Florida Keys. In Jacksonville, we saw our own share of apocalyptic conditions. Hurricane downfalls left over 5 feet of water in their wake, surpassing the previous 1960s record of 49 inches. […]
September 22, 2017
Equifax said Thursday that 143 million people could be affected by a recent data breach in which cybercriminals stole information including names, Social Security numbers, birth dates, addresses, and the numbers of some driver’s licenses. Additionally, credit card numbers for about 209,000 people were exposed, as was “personal identifying information” on roughly 182,000 customers involved in credit […]
September 7, 2017
After the devastation of Hurricane Harvey and with Hurricane Irma threatening parts of the U.S. and Caribbean, the IRS reminds taxpayers that the agency is here to help. Individuals, businesses and organizations are encouraged to prepare for a variety of disaster and emergency situations in the following ways: Create Electronic Copies of Key Documents Taxpayers […]
September 5, 2017
Over the last 10 years, technology has driven huge amounts of change in the finance sector, redefining the very foundations the industry was built on. This fintech revolution is being powered by a wave of disruptive startups. They are completely reshaping the finance sector, otherwise known as the ‘root and branch reconfiguration’ of the ageing […]
August 28, 2017
The effects of Hurricane Harvey and the flooding in Texas have prompted many people to open their hearts and wallets to try to help the victims. Unfortunately, events like these provide an opportunity for scammers. The Better Business Bureau issued an advisory Monday with these reminders: 1. Don’t fall for copycats. Double-check the name of […]
August 22, 2017
Research suggests more than one-fourth of start-ups fail due to a cash crisis. While profits look appealing on an income statement, cash pays the bills. If you’re struggling to convert your sales into cash fast enough, consider the following ways for your business to get paid faster. Invoice Immediately Using Email Your clients aren’t obligated […]
August 18, 2017
Xero, the accounting software that allows ours clients to understand and grow their business every day, exists to empower small businesses. This is why there’s no greater reward than to receive positive praise from small businesses owners and key decision makers themselves. 5 out of 5 overall satisfaction In an annual survey conducted by Canstar […]
August 1, 2017
Article reposted with permission from Xero. A huge congrats is in order for our app partner, Receipt Bank. In one of the biggest deals in UK fintech since Brexit, it’s just raised $US50 million in a Series B funding round, led by Insight Venture Partners. Receipt Bank is one of the most popular integrations in our app marketplace, […]
April 7, 2017
IRS to Use Private Debt Collectors Okay, here’s the scoop: The IRS will begin turning over taxpayer accounts to four private debt collection companies. These firms will be able to keep up to 25% of what they collect. Now before you start to curse the IRS under your breath, know this: the IRS utilized private […]
February 9, 2017
Teach a man to phish, and he will come up with all sorts of new scams. This IRS has recently renewed its warning about an email scam that targets payroll and human resources departments. The scam involves emails sent directly to Payroll/Human Resources requesting personal employee information such as Social Security numbers […]
January 26, 2017
On January 25, the Better Business Bureau issued a warning about a new email phishing scam that targets the users of Intuit’s QuickBooks accounting software programs. The scam email contains a subject line of “QuickBooks Support: Change Request” and looks like a legitimate email from Intuit. The body of the email requests a confirmation about […]
September 27, 2016
The IRS has issued a warning of a new email scam mentioning the Affordable Care Act (also known as the ACA or “Obamacare”). The email appears authentic and includes a fake Notice CP2000 attachment. A Notice CP2000 is a form the IRS uses to notify taxpayers when income reported to them by third parties does not […]
August 9, 2016
The second annual Pediatric Cancer Family Foundation Color Me Gold 5k is coming up on September 17th, 2016! Financial Solution Advisors, PL is helping to sponsor this event again this year and we will have a team of runners at the event! The Color Me Gold 5k is an opportunity to raise funds for PCFF’s […]
May 18, 2016
The new overtime regulations for full-time workers have passed. Employers will now be required to pay time and a half for overtime if a full-time worker makes less than $47,476 per year. While this is less than the originally proposed amount of $50,400, it it about double the previous threshold of $23,660. If an employee works […]
February 22, 2016
In addition to providing excellent service, Financial Solution Advisors, PL has been named one of the 2016 Best Places to Work in Jacksonville, by the Jacksonville Business Journal. Out of the hundreds of applicants, Financial Solution Advisors was one of a dozen honorees in the extra small category covering companies with 10-24 employees. In addition […]
January 4, 2016
A common question we deal with is when to capitalize and depreciate assets rather than expensing them. It is often advantageous for a client to be able to expense smaller purchases rather than setting them up in depreciation schedules and either dealing with Section 179 rules or delaying the full deduction. The IRS has provided […]
November 16, 2015
In an off year election cycle, voters in St. John’s County Florida have elected to add a local sales tax rate of a half cent effective January 1, 2016. The new sales tax rate will be 6.5%, rounded up to the nearest penny. The money is intended for local schools as the St. John’s County […]
August 27, 2015
The Federal Labor Department has offered some new guidance on the difference between contractors and employees. The Labor Department has authority to do so under the Fair Labor Standards Act, although some argue that the new guidance contradicts previous court rulings. There has always been tension between employers and regulators when it comes to worker […]
June 25, 2015
We have received the SCOTUS ruling on the Obamacare subsidies. The Supreme Court handed down a 6-3 ruling in favor of the Affordable Care Act in the King v. Burwell case. The case centered on the question of whether the law provided assistance to individuals purchasing health insurance through the federal exchanges as well as […]
May 29, 2015
On May 26, the IRS reported that thieves had managed to access approximately 104,000 individual taxpayer accounts through the ‘Get Transcript’ application. Thieves gained access to the information by using information from third-party sources to login online and answer personal security questions. The question now is how you should be responding to the IRS breach. The […]
April 21, 2015
2013 saw a significant spike in tax return related identity theft. According to the IRS, cases of identity theft were up 66% for the filing season a year ago. Based on what we have seen this season, that statistic is sure to rise. Most people hate filing tax returns. Aside from being cumbersome, tax filings often come […]
January 15, 2015
We’re only partway through January, but W-2s, 1099s, and other tax documents are already starting to pour in. Tax season is underway. Are you ready? Chances are, you are more ready than the IRS. Due to Congress’ passage of last-minute tax law, the IRS has delayed the official opening of tax season. E-filing will become available January […]
December 29, 2014
As more states seek a bigger piece of the tax base pie, businesses are quickly discovering that every state has its own little quirks. Sales taxes are often the worst. Everything from the taxability of services to exemptions vary from state to state. Some states have tricky rules that make it difficult to determine where […]