Accounting Blog

Fake Accounting Invoices Used to Steal Credentials

Posted on Mon, Sep 11, 2017

A recently resurfaced banking Trojan is now being used in a malware/phishing campaign targeting users of accounting services provider Xero. Similar attacks have also been used against users of Intuit and QuickBooks. The goal of these attacks is to gather login details for banking and financial accounts. Here's how it works, what it looks like, and what do if you get this message:

Read More

Tags: Accounting, Scam Alert, fraud alert, fraud prevention

Tax Deductions to Keep in Mind When Traveling for Charity

Posted on Tue, Sep 05, 2017

It’s almost that time again…Tax Season!  We want to make sure that you are taking advantage of all the tax deductions that are available to you when you are traveling for charity.  There are a few things that you want to make sure you are doing to make sure the deductions qualify.  A few tips to remember are:

Read More

Tags: tax, IRS, deductions, tax deductions

NC Tax Law Updates - NCACPA in Action

Posted on Wed, Aug 16, 2017

At LBA Haynes Strand, we’re proud to be members of the NCACPA.  In North Carolina, the NCACPA is working to modernize and improve our state tax code.  This year they have made a few changes and have recently announced those changes. 

Read More

Tags: LBA Haynes Strand, tax, New law, tax alert

5 Tips to Prepare for a General Contractor's License Audit

Posted on Wed, Jul 05, 2017

Tip 1: Know Which Type of License you are Seeking: 

The dollar amount of the project you are bidding on will likely be the determining factor of which license type is right for your company.  See the chart at the bottom of the post for the license thresholds, financial requirements and whether an audit is required to be performed by an independent CPA.

Read More

Tags: certified public accountant, LBA Haynes Strand, general contractor, GC license audit, General contractor audit

LBA Haynes Strand Volunteers To Fight Hunger in Our Community

Posted on Tue, Jun 27, 2017

Every year LBA Haynes Strand closes it's doors for one day while the entire firm goes out into the community to help with a worthy cause.  This year we were fortunate enough to team with Out of The Garden Project in Greensboro, NC. Out of The Garden Project is a food assistance program for families primarily in Guilford County.  Their mission is to partner with parents, teachers, friends, and organizations to provide food and hope for every child!  They supply a bag of food, including two meals, for a family of four (6-7 lbs) each Friday at 60+ schools in Guilford County, one school in Forsyth County and one school in Alamance County.  Overall they reach 1,750 families each week!  In addition, Out of The Garden Project provides 700 bookbags each week for the United Way of High Point.

Read More

Tags: LBA Haynes Strand, Greensboro

Navigation Changes Made To QuickBooks Online

Posted on Thu, Jun 22, 2017

We all know change is hard!  With this in mind we wanted to provide a highlight of the recent changes made to the QuickBooks Online navigation.  Even though the changes may take some getting used to, this is one of the main benefits of QuickBooks constantly have access to the most up-to-date version of QBO available!  The changes include:

Read More

Tags: LBA Haynes Strand, Accounting, Quickbooks, QuickBooks Online

Free Webinar: "Cracking The Code To M&A Growth"

Posted on Tue, Jun 13, 2017

Join us on July 12th at 1pm for a free webinar.  John Bly, Principal and CEO of LBA Haynes Strand, will deliver his signature presentation: "Cracking The Code To M&A Growth."  John has delivered this speech across the globe to rave reviews and is excited to bring it to a webinar platform. 

Read More

Tags: M&A, LBA Haynes Strand, Merger & Acquisition, free webinar, M&A Growth, webinar

IRS Announces Top Tax Scams for 2017

Posted on Wed, May 10, 2017

The IRS has announced the completion of its annual “Dirty Dozen” list of tax scams. The annual list highlights various schemes that taxpayers might encounter throughout the year, and especially during tax-filing season. “Taxpayers need to guard against ploys to steal their personal information, scam them out of money or talk them into engaging in questionable behavior with their taxes,” the IRS said.

The “Dirty Dozen” scams the IRS highlighted in 2017 are as follows:

Read More

Tags: tax scam, IRS, taxpayer

The Tax Deadline Has Come and Gone - Are You Happy?

Posted on Mon, May 08, 2017

With April 18th in your rear view mirror it is time to review how your tax preparation went.  Was it a painless process for you?  Did you have constant communication with your accountant?  If you did, you should thank your accountant and start planning for next year!  If not, maybe it is time to start thinking about a change.  Over the years we (as a Firm) have noticed clients switching to CPA Firms of our size over the traditional sole practitioner.  While you may enjoy a personal relationship or believe that it would be inconvenient to make a change to a full service CPA Firm - think again....

Read More

Tags: CPA firm, accounting firm, CPA, tax preparation

Estate Planning For The Wealthy and Not-So-Wealthy

Posted on Tue, May 02, 2017

Estate planning is important for both the wealthy and not-so-wealthy.  Even if your estate is not large enough to require payment of estate taxes at your death (for 2017, the estate tax lifetime exemption amount is $5,490,000), having the proper documents in place at your death can minimize the burden placed on your loved ones.  Consider the following items when devising an estate plan:

Read More

Tags: CPA, Estate Tax, Estate planning