Financial Management Challenges For Professional Services Firms
Billable utilization fell to 68.9% in 2025 This decline represents more than just a dip in productivity. It signals a fundamental shift in how professional services firms must manage their finances. For law firms, engineering consultancies, and accounting practices, every minute of work is a piece of inventory. When that inventory is not captured or […]
Tax Record Retention: What to Keep and How Long
In Fiscal Year 2024, the IRS closed 505,514 tax return audits, recommending over $29.0 billion in additional tax. The burden of proof is on you You might think the IRS has to prove you owe them money. The reality is the opposite. The burden of proof is entirely on the taxpayer. You must substantiate every […]
How to assemble investor-ready monthly reporting packages
Studies have shown that the frequency and quality of monthly reports really impact startup performance. Keeping financial reporting steady and sound builds credibility with your stakeholders. Handing a clean, professional investor package over to an investor is practically a job requirement for many financial professionals, including advisors, bookkeepers, and accountants. It’s not just about meeting […]
How AI Detects Financial Anomalies Before They Hurt Your Business
“The Association of Certified Fraud Examiners estimates organizations lose an average of 5% of annual revenue to fraud each year.” This massive financial leak threatens the stability of businesses across the United States. Financial advisors and bookkeepers must recognize that traditional manual audits are no longer enough to stop modern fraud. The Risk in Plain […]
Understanding Burn Rate: A Complete Guide for Financial Professionals
The burn rate is basically how much money a startup is burning before it hits profitability. It’s the gauge that tells you whether you’ll have enough cash to last 12 months or crash before you get there. So, what is it exactly? Burn rate is the amount of money, in dollars, a company churns through […]
Sales Tax Compliance for Multistate and Online Sellers
According to the Sales Tax Institute, every state in the U.S. that has a sales tax now has economic nexus rules that can require remote sellers to register, collect, and remit sales tax. According to the U.S. Census Bureau, e-commerce sales added up to $304.2 billion in the second quarter of 2025, accounting for 16.3 […]
