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          Finally! The trick to securing greater T&E compliance
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          Handling Nonexempt Employee Pay: Stay Compliant and Avoid DOL Audits
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Budgeting and Forecasting

Get ready: Federal Reserve eyes 5%-plus interest rate for 2023

Plenty of financial gurus lauded the Federal Reserve for hiking interest rates and its stated goal of ratcheting down inflation. After multiple hikes in 2022, the Fed intends to increase the target rate even further in 2023. How high? Seventeen out of 19 Fed officials on the monetary policy committee expect a target interest rate […]

by Scott Ball
January 4, 2023

Uh-oh: Those 1 million jobs created last spring were a figment of the feds’ imagination

Remember those rosy employment figures the Bureau of Labor Statistics put out last year? More than a million jobs added during the second quarter of 2022, to be specific? Turns out the feds were off by a bit. And no, not off by a few thousand jobs or so. Try more than a million. The […]

by Scott Ball
December 28, 2022

2023 bringing tax changes: What your Finance team needs to know

As the calendar flips to 2023, it’s crucial for your Finance team to be aware of the tax changes going into effect and for you to take steps to ensure compliance. In the ResourcefulFinancePro webinar “Tax Changes Finance Pros Need to Know Going into 2023, Pamela Fagan-Shull, president of Audit Business Services Inc., highlighted seven […]

by Brian Bingaman
December 23, 2022
Key Updates For Payroll Plus NewT ax Credits From Inflation Reduction Act

Could internal theft be robbing your bottom line?

In an economic climate where you might have to do some belt tightening, a cash leak from internal theft is unacceptable. However, according to Aaron Evett, director of implementation of the expense management and business budgeting software company Divvy, a lot of companies don’t realize how much money can be saved just by taking measures […]

by Brian Bingaman
November 15, 2022

The economy’s hard to read, so what goals should you be focusing on for 2023?

There are a lot of differing opinions about the economy right now because the indicators contradict each other. For example, inflation keeps reaching all-time highs, yet consumer spending is strong. Also, the GDP declined two consecutive quarters (but increased 0.6% for Q3 2022), yet employment continues to grow. Because of the unusual economic conditions, making […]

by Brian Bingaman
November 7, 2022

Building lease accounting standard headed for a rewrite: FASB to amend Topic 842

Good news: The feds are liable to scale back an accounting standard for commercial building leases that some business owners say may put them at a financial disadvantage with their competitors. The Financial Accounting Standards Board (FASB) may revise requirements under the 10-month-old Topic (or Accounting Standard Code) 842. Topic 842 mandates that business owners […]

by Scott Ball
October 25, 2022

Tweaking collection methods to get paid sooner

Among all the year-end tasks CFOs and collectors are juggling right now is trying to reconcile accounts due. There may be more pressure this year than ever with a recession and layoffs on the horizon. Bottom line: How a company divides collection workloads may need an adjustment. A recent survey by the National Association of […]

by Scott Ball
October 20, 2022

Bitcoin on the balance sheet? FASB OKs fair-value accounting for cryptocurrency assets

Until now, there haven’t been any specific accounting rules for cryptocurrency assets you may have. After all, crypto economics can be volatile. The price of bitcoin fell from $47,816 in January to $19,557 this month, according to YCharts. After putting cryptocurrency accounting on its technical agenda earlier this year, the Financial Accounting Standards Board (FASB) […]

by Brian Bingaman
October 18, 2022

Hotel prices increasing in 2023, but at a slower clip than 2022

It may be wise to evaluate your 2023 T&E budget one more time because hotel prices worldwide are expected to go up again, according to American Express Global Business Travel. A combination of pent-up demand for in-person meetings and ongoing hotel industry recovery struggles are likely to trigger higher prices and other challenges for securing […]

by Brian Bingaman
October 11, 2022

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Resourceful Finance Pro, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day's headlines, Resourceful Finance Pro delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.

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