Returning Value Blog

Many time-consuming accounting and bookkeeping processes — from transaction coding to financial analysis — can now be handled more quickly and consistently with the help of artificial intelligence (AI). Rather than replacing humans, AI-powered automation helps finance and accounting teams work more efficiently, reduce manual workloads, and focus on higher-value analysis and decision-making.

Many businesses rely on independent contractors for flexibility, specialized skills, and project-based work. However, properly classifying workers as employees or independent contractors remains one of the most common compliance challenges for employers.

According to the Bureau of Labor Statistics, more than one-third of American workers performed some or all of their work from home. There is no question that remote work will continue to be an option for many. With that said, it is important for organizations that offer this to have a firm policy in place. If companies have learned anything from the pandemic, it is that they need to be prepared for the unexpected. Employees need to be able to conduct business wherever they may be.

Materiality is a core concept that shapes the entire financial reporting process. In simple terms, materiality helps determine which financial information is significant enough to influence decisions — and which details likely won’t affect the overall picture. Understanding how experienced certified public accountants (CPAs) evaluate materiality can help you prepare reliable financial reports and avoid surprises when working with external advisors.

 An advance payment is one received by a business before it provides whatever is being paid for. For federal income tax purposes, generally, advance payments must be reported as taxable income in the year received. This treatment always applies if your business uses the cash method of accounting for tax purposes. But if your business uses the accrual method, it may qualify for favorable tax deferral treatment.

 Many small and midsize businesses rely on QuickBooks® for day-to-day bookkeeping. But the platform also offers tools designed to improve efficiency and strengthen financial oversight. In recent years, QuickBooks has expanded its automation, reporting, and integration capabilities, making it even more useful for growing businesses.

Launching a start-up comes with no shortage of big decisions and fast-moving priorities. In the rush to grow, financial fundamentals can sometimes take a back seat — often with costly consequences. Some common accounting missteps that new business owners should avoid include:

The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed by December 31 of the tax year, there are some decisions you can make when filing your return that can save taxes now or in the future. One such decision is whether to claim accelerated depreciation breaks.

Tax credits reduce tax liability dollar-for-dollar. As a result, they can be more valuable than deductions, which reduce only the amount of income subject to tax. One tax credit that hasn’t been getting much attention lately, but that can still be valuable for some small businesses, is the credit for providing health insurance to employees.

Perks are an important part of an employee's work experience. While employees expect to receive a paycheck at the end of the pay period, it's the extras that give working at your company a competitive edge. It might interest you to know that 7 out of 10 employees would be willing to leave their current job for better benefits somewhere else.