Category: Accounting
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Crowdfunding data on small business equity financings
I took time last night to analyze newly released data from the first 50 (more or less) small business equity crowdfunding deals completed in the United States. Some interesting trends are emerging that have significance for investors and issuers; I’m sure I’ll have more to say soon.
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“Is Crowdfunding a Mirage or an Oasis?”
The well respected law firm Blank Rome LLP, headquartered right here in my hometown of Philadelphia, put out a blog post this week titled “Is Crowdfunding a Mirage or an Oasis?”. With all respect, this is the wrong question for a business adviser to ask at this stage of evolution. The structure of business crowdfunding…
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Security warning about Symantec and Norton antivirus
This week the U.S. Department of Homeland Security and the United States Computer Emergency Readiness Team (US-CERT) have issued a statement that all Symantec and Norton branded antivirus products contain multiple vulnerabilities. Exploitation of these vulnerabilities could allow a remote attacker to take control of an affected system. All client data and accounting systems under…
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How to run a successful small business crowdfunding campaign
Many small business owners dream about tapping the power of the internet to raise funding for their growth. Yet in reality few people have an understanding of what it takes to be successful in the realm of crowdfunding. Many of my talks and article focus on explaining that many of the same attributes that indicate…
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Business crowdfunding for newbies
If you are curious but mostly unfamiliar with crowdfunding for small businesses, I suggest that these three concepts are the most important points to understand first: Crowdfunding is evolving. It is still not the best financing choice for most small businesses, but that is changing. In the meanwhile, it makes sense to prepare your small…
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Philly wage tax drops
City of Philadelphia wage tax rates drop slightly after June 30. For most people, residents and non-residents, the small increase in net pay will be automatically made. If not, call me because you need a better payroll service. There are too many excellent dirt-cheap payroll companies now to put up with one that is not…
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Small payments by nonprofit LLC for summer events
Community organizations often sponsor seasonal events that require the use of short term labor. When volunteer labor is not available, there may be tax implications of paid services. Even though the dollar amount per worker is small, the total cost can be a significant portion of the organization’s overall budget. A single-member LLC is managed…
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New money-saving features in retail banking
The Wall Street Journal carried two interesting articles on retail banking today. I’m in the process of moving our business banking to Wells Fargo that shows up prominently in the list. Wells Fargo is doing a handful of things right. The real story is the growing list of time-saving and money-saving features offered by banks…
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More on CPA risk of unauthorized practice of law
I learned something new today on the topic of a CPA’s exposure to risk of unauthorized practice of law. In this case the matter is a small case civil dispute arising from a tax matter in Pennsylvania. This matter would be brought in the Magisterial District Court, so local court rules apply. The question was…
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New restrictions on partner’s employee benefits
Treas. Reg. § 301.7701-2T(c)(2)(iv)(C)(2), (TD 9766 May 4, 2016) has an adverse impact on planning of employee benefit plans for partners including participation in qualified retirement plans, health and welfare plans, and fringe benefit plans. The bottom line is that partners are not common law employees when the partnership owns a disregarded entity like an LLC that…