CPA Blog

B2B businesses: Assess customer credit carefully

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Published: Wednesday, 13 March 2024 08:53

Written by Phillip Strickler, CPA.CITP

Does your company operate in the business-to-business (B2B) marketplace? If so, you’re no doubt aware of the double-edged sword that is customer credit.

On the one hand, it’s common practice. Most customers likely expect to be offered a credit option when engaging in B2B transactions. On the other, credit arrangements inevitably come with risk of late payments or nonpayment, which can lead to cash flow problems for you.

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Beware of a stealth tax on Social Security benefits

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Published: Tuesday, 12 March 2024 13:58

Written by Phillip Strickler, CPA.CITP

Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the case. In fact, depending on how much overall income you have, up to 85% of your benefits could be hit with federal income tax.

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Empower your sellers with sales enablement

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Published: Friday, 08 March 2024 12:52

Written by Phillip Strickler, CPA.CITP

The driving revenue force of just about every kind of business is sales. But all too often, once a sales team is up and running, it’s left to its own devices to maintain its strengths, develop new skills and upgrade its technology. This can produce mixed results — some sales departments are remarkably self-sufficient while others could really use more organizational support.

To remove the guesswork, many of today’s businesses are investing in sales enablement. This is an enterprise-wide, collaborative and continuous approach to empowering the sales department to do its best work.

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A job loss is bad but the tax implications could make it worse

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Published: Friday, 08 March 2024 12:47

Written by Phillip Strickler, CPA.CITP

Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain industries including technology and media. If you’re laid off or terminated from employment, taxes are likely the last thing on your mind. However, there are tax implications due to your altered employment circumstances.

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