This reduces the risk of penalties, corrections, and compliance issues. How do virtual CFOs collaborate with a law firm’s existing financial staff? Virtual CFOs work alongside a firm’s internal finance team, providing strategic guidance and mentorship. Self-employment tax Make sure you’re clear on all of the law firm accounting obligations…

This reduces the risk of penalties, corrections, and compliance issues. How do virtual CFOs collaborate with a law firm’s existing financial staff? Virtual CFOs work alongside a firm’s internal finance team, providing strategic guidance and mentorship. Self-employment tax Make sure you’re clear on all of the law firm accounting obligations…

We can see that all entities are assembled in different categories based on their characteristics. With so many categories and segments, there’s a risk of drawing conclusions based on isolated data points without considering the statement as a whole. For instance, robust gross profits might be overshadowed if one doesn’t…

A key measure in business accounting, retained earnings will help you chart a course for growth. Patriot’s small business accounting software can help you accurately track income, expenses, and retained earnings. The company’s tax planning strategies and effective utilization of tax incentives and credits can impact its net income and,…