XMI Insights
Our Take on Topics & Trends for Business Success
Keeping Fraudsters Out of Your HRIS With Multi-Factor Authentication
If you have employees, then by default you’re the keeper of some pretty sensitive information—full names, addresses, Social Security numbers, dates of birth and bank accounts, basically everything needed to steal an identity. You don’t need much of an...
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New Business Expense Rules Affect Bookkeeping and Accounting
It’s been more than a year since the Tax Cuts and Jobs Act was signed into law, but some questions still remain about how exactly the provisions play out. Take the business meal deduction. While the entertainment deduction was entirely eliminated in the...
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ACA Penalty Letters: What to Do If the IRS Sends You One
It’s 2019, but the IRS just started sending out Letter 226-J penalty notices for tax year 2016. If you received one for the 2015 tax year, which may have happened as recently as last year, you probably know exactly what this is. But for the uninitiated, here’s an...
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Why You Should Encourage Employees to Review W-4 Withholdings
Big changes were expected this year to the W-4 form—officially called the Employee’s Withholding Allowance Certificate—to better reflect the tax changes in the now-year-old Tax Cuts and Jobs Act. But last summer, the IRS announced these changes would be put off until...
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What’s the Difference Between a Bookkeeper, Accountant, Controller and CFO?
Of all the core business processes, accounting is perhaps the most puzzling (unless you’re an accountant, of course). The problem starts with the titles themselves. How is bookkeeping different from accounting? Does my business need a controller? What does a CFO do? Keep reading for these answers and more.
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