What is bankruptcy? Kelly helps to break down and define bankruptcy: a legal process for obtaining debt relief for those unable to repay obligations. A lot of bankruptcy reporting focuses on corporations, but most cases are actually filed by individuals and are related to medical injuries or expenses. Other reasons for bankruptcy might be losing…
Since the pandemic, there has been a lot of uncertainty about the economy, especially for taxpayers and business owners. But as governments seek to make up lost revenue, that raises concerns about tax compliance. An easy target? Sales tax. There has been and probably will continue to be a shift in the economy and tax…
Bookkeeping is an important factor of properly running a business. Many people tend to think that bookkeeping and accounting are one and the same. However, they can be very different. Bookkeeping is the recording of all financial transactions within a business. Kelly invites Nicole Davis to cover everything you need to know on how to…
Women only make up one third of the CPA population. But the numbers for people of color are even more scarce. Kelly found that the tax firm industry is made up of about 80% white people, less than 8% Black people, 6% Latino, and 6% Asian American. Those numbers aren’t encouraging. Kelly invites Eric Pierre,…
In the 1990s and early 2000s, reality television as we know it today was still relatively new. And leading the pack was a CBS series called Survivor. Survivor: Borneo The first season, Survivor: Borneo, was initially broadcast on May 31, 2000. The show dropped a group of strangers on an island where they had to find…
One of the biggest fears right now for students and recent grads is being able to find a decent job. Job opportunities drastically vary based on the economy. The projected job outlook for 2018-2028 was expected to be a relatively healthy 6%. However, now the numbers are expected to be altered even more due to…
A small business is typically defined as a business with less than 500 employees. Sadly, only 2/3 of small businesses survive after two years, only 1/2 of small businesses survive after five years, and only 1/3 of small businesses survive ten years. The Challenges of Running a Small Business As we all know, running a…
All professionals will stumble upon the struggle of balancing costs with deductibility. When is the proper time to spend money on your company or product? Will the money spent be beneficial with the return? Branding your company, service, or product is key for obtaining a successful business platform. Sometimes, this process can be costly, but…
For many years, the Internal Revenue Service (IRS) has grown to help serve our community and taxpayers. Today, the Criminal Investigation Agency, also known as CI, has been working hard to better our community by tackling tax fraud and other financial crimes. The hard work and efforts of this agency are sometimes overlooked or unknown. This week, Kelly…
I know many of you have heard the controversy about Wayfair and Amazon paying taxes. This week’s episode dives into the recent Supreme Court ruling that online businesses must pay taxes and the effect on smaller, primarily online businesses. About Brad Scott and Wayfair Advocacy Brad Scott joins Kelly as a guest to give an…