What concerns small business operators above all? Our consultations with them indicate it’s a relative measure of insecurity about what the near future holds. Well, lacking a small business fortune teller, if one existed, here’s a peek at what 2014 might look like, reading our own tea leaves:
How About Help from Lawmakers?
We expect to see a more appeasing attitude in Congress. Many say that lawmakers’ cooperation on the national budget deal in December is a strong indication that they’ll collaborate on matters impacting on small business, including more taxation reform.
Expect an increase in a tax code provision (Section 179) that permits businesses to deduct up-front rather than depreciate over time the cost of equipment like vehicles, computers, software and machinery. Barring action by Congress, the 2014 deduction is $25,000, down from $500,000 in 2013. With many companies still struggling and congressional elections in November, Congress will likely extend it.
May 2014 be a year in accounting the value of change!
Have a happy and awakened new year!
A new infographic demonstrates the humble beginnings of modern accounting, beginning in 1494 when Luca Pacioli first described an emerging system of debits, credits, journals and ledgers. It charts the difference between how accounting was done before accounting software programs and after accounting software programs.
VisiCalc and QuickBooks changed the industry immediately upon their introduction. (We admonish them for not including the “Great Plains Software” released in 1993 as a key moment in the history of accounting .)
And now we see a paradigm shift occurring as accounting applications are offered “in the cloud”. This marvelous infographic as well looks at how the accounting profession has adapted to these technology changes. A brief history of accounting is a fun visual look for any finance department.
Whether or not a worker departs your business friendly and on their own terms or from being fired for cause, there are several steps a company must take to protect its security, viability and reputation.
When an employee leaves it typically is at a moment more important than when they first join your staff, because a new employee typically knows little about your business inner-workings. Conversely, when employees leave they have cultivated a great deal of knowledge about your company, your competitors, your finances and, most importantly … your client list.
Even If It Is A Friendly Departure, You Need To Read This…
Even if the departing employee has performed admirably and has shown no signs of hostility during their employment, there is no way of knowing for sure how they will react when it comes time to part ways.