Business
Way to Go WellsColeman
Firm Congratulations! WellsColeman is proud to announce that the firm has been selected for the 2016 Accounting Today’s Best Accounting Firms to Work for list, which is limited to only 100 public accounting firms nationwide! According to the AICPA, currently there are over 46,000 public accounting firms in the United States ranging in size from…
Read MoreCongratulations to Tonya Futrell
Honors and Awards Congratulations to Tonya Futrell, CPA, who were featured in The Road to Retention: Motivators and Drivers for Young Accounting Professionals survey. For the survey, Tonya participated with five other young professionals to chime in on key questions and give their feedback. She says, “One of the biggest changes I’ve seen is the profession moving away from…
Read MoreCongratulations to George & Rachel
Honors and Awards Congratulations to George Forsythe, CPA and Rachel Cassidy, who were featured in the newest edition of Accounting Today. In the article, “Generational Viewpoint: Remaining Relevant,” George and Rachel share their perspectives on ensuring sustainability and relevancy in the profession by answering the following question: “What changes would you like to see to ensure the relevancy…
Read MoreCongratulations to George Forsythe
Honors and Awards Congratulations to WellsColeman managing partner George Forsythe, who was featured in the newest edition of the VSCPA’s Disclosure Magazine. In the article “Coaching programs get new partners off to a great start,” George discusses her participation in a LEAD leadership program. According to George, “…the biggest gap in our profession’s leadership is with the…
Read MoreFLSA & Proposed Overtime Rules
FLSA & Proposed Overtime Rules: What you Need to Do to Prepare The Department of Labor (DOL) has issued proposed changes that would substantially increase the minimum salary requirement for certain exemptions under the Fair Labor Standards Act (FLSA). Background The FLSA requires virtually all employers to pay most employees at lease the federal minimum wage for…
Read MoreInternal Controls
Keep Your Company on Course with Internal Controls Internal control is defined as “a process for assuring achievement of an organization’s objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations, and policies.” These controls allow management to: Promote efficiency Reduce risk of asset loss Ensure the reliability of financial statements…
Read MoreStrategic Accounting Solutions, launched 2015
New Service Line, launched 2015 WellsColeman is proud to announce our latest high quality service, Strategic Accounting Solutions! With this new service, you can know your financial transactions are being managed accurately and timely. Customized to your bookkeeping needs, services include: Recording of cash receipts and disbursements Monthly cash reconciliation Accounts receivable Accounts payable General ledger management Payroll services…
Read MoreHome Office Deduction: Top Tips
Home Office Deduction Using your home for business may qualify you for additional tax breaks, deducting expenses for the business use of your home. If you qualify for the deduction, you may use either the simplified method or the regular method to claim your deduction. This tax deduction may be claimed whether you rent or…
Read More2015 Tax Changes for Businesses and Health Plans
2015 Tax Changes for Businesses and Health Plans There are many important tax changes taking effect in 2015. They are the result of the Tax Increase Prevention Act of 2014 (TIPA) as well as other tax legislation, or are triggered by effective dates in regulations, rulings and other guidance. Also, a number of important final…
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