Tax Reform: Changes to Meal and Entertainment Expenses

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Tax Reform for Meals & Entertainment Expenses - Changes

We want to alert business owners, clients and readers to an important change under the new tax reform commonly known as the Tax Cuts and Jobs Act. The Tax Cuts and Jobs Act (TCJA) enacted extensive changes to the deductibility of meals and entertainment (M&E) expenses for companies. Prior to the new tax reform, companies generally could deduct 50% of expenses for business-related meals & entertainment expenses. With the enactment of the TCJA, entertainment expenses paid or incurred after December 31, 2017 are no longer deductible.

Before You Expand Your Business, Ask Your Accountant These 4 Questions

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Ask Your Accountant - Expand Your Business Feat Image

Think you’re ready to expand your business? We often see startups attempt to expand too quickly before they are at the appropriate stage in their growth. These are our four (plus one bonus!) questions to ask your accountant before preparing to expand.

Meet the Team: Akeem Ogunsegun

Akeem Ogunsegun: Meet the Team

How did you end up working with Red Granite and ORBA? After working for a non-profit organization and small businesses for over 10 years, I was searching for a change where my skills would be utilized to the maximum and also challenge me. Read more about our “accountable” accounting manager Akeem – he said it first!

The 5 Most Common Signs You Have Outgrown QuickBooks

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5 Signs You Have Outgrown QuickBooks

We often get asked by growing companies whether they have outgrown QuickBooks. Let us preface this by saying when we get asked this, the honest answer is, “it depends.” It depends on your company size, it depends what industry you are in, it depends how quickly your company is growing… you get the picture. And another disclaimer: we love QuickBooks. We use it for plenty of our clients. But it does have it its limitations.

5 Ways Omnichannel Retail Influences Your Accounting

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Omnichannel Retail Influences Accounting

When “omnichannel” was first mentioned, Marketers everywhere were dubbing it as the next buzzword marketing term. Yet, as the years have gone by, its prevalence has increased considerably throughout publications. In fact, recent stats suggest that today’s consumers use an average of almost six touch-points across different devices when researching and buying goods, suggesting merchants really do need to be on top of multiple buying journeys in order to truly tap into (and succeed) within the modern retail environment.

Meet the Team: Monique Bonamer

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Meet the Team: Monique Bonamer - Team Awesome

How did you end up working with Red Granite and ORBA?
I worked in the office of a motorcycle retail dealership and wanted a change of pace and scenery. After 12 years of bank deposits, operational meetings, working through holidays… When I came across the ad online for an “Awesome Accounting Manager”, I knew they were talking about me. Read more about Monique Bonamer and her undercover skills… hint: it includes a stellar poker face.

The Financial Evolution of a Startup

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Financial Evolution of a Startup - Outsourced Accounting Blog

In the beginning of the evolution of a startup, it is likely that the founder is in a “lone wolf scenario.” He or she is grinding away to get the business off the ground. As a result, the owner is wearing a lot of hats: CEO, CTO, marketing, HR, accounting manager. You name it and the founder probably has his or her hands in it….

Budgeting & Forecasting for High Growth Companies

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Budgeting and Forecasting for High Growth Companies - Red Granite | Outsourced Accounting in Chicago IL

We recently hosted a roundtable discussion on budgeting and forecasting for high growth companies at The Junto Institute in Chicago, IL. Check out the slide deck below for more.

11 Lessons in Cloud-Based Etiquette

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Lessons in Cloud-Based Etiquette

Have you been on the receiving end of some unbecoming cloud-based etiquette? At one point or another, I’m sure all of us has experienced a video conference with someone while their roommate was chowing down on Chipotle in the background. Here are our 11 lessons for life in the cloud…

Meet the Team: Segdrick Byrd

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Meet the Team: Segdrick Byrd

How did you end up working with Red Granite and ORBA? The ability to gain exposure to varying clients and industries were appealing to me. The job ad/description spoke to my personality and an exciting culture… I was sold at Awesome!! Read more about Segdrick and his “psychic” abilities…