Cheryl Hunt

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So far Cheryl Hunt has created 14 blog entries.

5 Steps to Help in Disaster Preparation

Backup electronic accounting records. Accounting records can include anything from accounting software to spreadsheets that are used for budgeting. Consider subscribing to a cloud-based storage service, or — at a minimum — store your backup data in multiple locations. Backup electronic records regularly to ensure data remains current and easily recoverable. Protect computers and [...]


Use These 6 Questions to Evaluate Your Cybersecurity Practices

A strong cybersecurity posture consists of effective measures related to prevention, assessment, detection, response, and recovery. But how can you determine whether your company is succeeding in these areas? Watch as Lorri Kidder discusses key questions that can help you evaluate your company’s cybersecurity defense system.

August 30th, 2017|CYBERSECURITY, VIDEO|

Cars and Accounting Technology: Joined by Metamorphosis

We typically think of metamorphosis as a biological process. For example, a caterpillar spins itself in a silk cocoon and then emerges as a butterfly. However, the term – which comes from the Greek word for “transformation” – could just as easily apply to the technological changes that have occurred over the last few centuries. [...]


Walking the Fine Line Between Nonprofit Lobbying and Advocacy

Not-for-profit organizations often shy away from lobbying for fear of losing their tax-exempt status. But organizations can lobby without endangering their tax-exempt status (and without major financial resources or professional assistance) when they understand how to walk the fine line between nonprofit lobbying and advocacy. Nonprofit Lobbying versus Advocacy Knowing the difference between lobbying and [...]

June 15th, 2015|NOT-FOR-PROFITS|

15 Business Finance Tips to Help You Build a Better Business

Now that the echoes of “Auld Lang Syne” have faded away, it’s time to get back to the business of building your business. As you’re making your list of New Year’s resolutions, consider these recommendations for the 15 priorities that will help keep your business healthy. 15 Business Finance Tips Plan now for your exit.Your [...]

January 1st, 2015|BUSINESS CONSULTING|

These Six Common Nonprofit IRS Audit Triggers Are No Laughing Matter

You may have heard jokes or other light-hearted comments about IRS audits. However, actually receiving an audit selection letter from the IRS is usually not a laughing matter. The IRS routinely audits exempt organizations to ensure compliance with federal tax requirements. Any organization can be randomly selected for an audit, but typically the IRS is looking [...]

December 15th, 2014|NOT-FOR-PROFITS|

No More Dancing Around GAAP Going Concern Disclosures

Until recently, many companies danced to a different beat than their auditors regarding certain financial statement disclosures due to a lack of clear accounting standards. The Financial Accounting Standards Board (FASB) has updated accounting principles generally accepted in the United States of America (GAAP) with new steps in the form of guidance clarifying the disclosures management [...]


Working During Vacation: 4 Tips for Keeping Your Cool

As the summer vacation season literally heats up, some workers may be feeling more run down than they did in years past. Why? The annual ritual of lying on a beach or exploring new places is now often accompanied by the need to check email and take calls. The results of a new survey confirm [...]


Be the Ringmaster by Implementing These Six Business Value Drivers

“Price is only an issue in the absence of value.” I wrote this statement down and underlined it as my economics professor emphatically repeated the theory. Even today, I’d claim that this idea is the single most important concept my college education provided. Not only is this statement accurate, but it especially holds true in ongoing valuations [...]


Getting to the Root to Correctly Donate Appreciated Property to Charity

The tax law imposes stringent requirements for deducting charitable gifts of property, and they are especially tough when a taxpayer is able to donate appreciated property. Failing to observe all of the rules can reduce or eliminate the tax deduction. The recent U.S. Tax Court case of Mohamed v. Commissioner dramatically illustrates the roots of potential issues. [...]

September 25th, 2013|INDIVIDUAL TAX|

Win-Win: Establish Employee Benefit Plan

Anemones and clown fish have a mutually beneficial relationship. The anemone provides protection for the clown fish, and in return the clown fish fertilizes the anemone. It is a near perfect symbiosis – or a win-win. Another win-win includes choosing to establish employee benefit plan. According to the IRS, almost half of working Americans don't [...]


Impressing Donors with Nonprofit Financial Information

A dozen red roses. A box of chocolates. We all know first impressions count in many situations. First impressions are even important when trying to attract funding organizations and large individual contributors to donate money to a not-for-profit, and financial information is often the first impression of a potential contributor. With that in mind, there [...]

December 15th, 2012|NOT-FOR-PROFITS|

Myth Versus Fact: Recipe for Employee Gifts and Awards

Providing employees with tax-free fringe benefits, gifts, and awards allows employers to motivate employees and foster feelings of appreciation. However, employers must be careful when selecting benefits and employee gifts in order to avoid employment taxes and withholding an additional amount from their employees’ paychecks — an unexpected “benefit” many employees will frown upon. The general rules [...]

December 1st, 2012|BUSINESS TAX|

Measuring Estimated Taxes

Self-employed taxpayers and partners within professional services firms often have questions about estimated tax payments. If you are a taxpayer in one of these categories, read on to determine if your estimated taxes measure up. Who Has to Pay Estimated Taxes? (Hint: Self-Employed Taxpayers...) Individuals with income from sources such as self-employment, rent, gains from [...]

April 1st, 2012|INDIVIDUAL TAX|