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Q&A Forum

How to get started?

Alexis Garland
Title: Owner
Company: AMG Business Resources
(Owner at AMG Business Resources)
I am looking into starting a business/management consulting business. I currently have an MBA and would like to go into business for myself. I wanted to start a bookkeeping firm, but ...
135 Views | 0 Answers/Comments

What resources/outlets/experts are you following or listening to for gauging the short-term and long-term economic effects of the coronavirus pandemic?

Vincent Ryan
Title: Editor in chief
Company: CFO
(Editor in chief at CFO)
I find that many experts have divergent views about how long our economy is going to be contracting and when it will recover. Are you finding any reliable information out there?
12722 Views | 1 Answers/Comments

Strategic Planning During COVID-19 "Down-time"

Kate West
Title: Consulting CFO
Company: The C Corps
(Consulting CFO at The C Corps)
I was talking to a client's General Manager yesterday, and he asked, "A month or two (or six) from now, what are we going to look back and think, 'We should have done *that* during the ...
12216 Views | 2 Answers/Comments

Interested in more Ernie Humphrey content?

Ernie Humphrey CTP
Title: VP, Thought Leadership
Company: Stampli
LinkedIn Profile
(VP, Thought Leadership at Stampli)
I helped build the Proformative community, search my name here on the website. Anyone remember me? I am thinking about contributing content again. Here is what I have been doing in term...
5012 Views | 0 Answers/Comments

Recruitment for Accountant

Hi everyone! First off, I hope everyone's safe and well amidst the current lock-downs and otherwise that are Covid-19 virus related. I have a problem and I wish the bright people ...
3755 Views | 0 Answers/Comments

Accounting For Workers Comp Refunds

(Sr. Manager, Accounting & Finance)
How do you folks handle workers comp refunds? I usually get one each year and it skews my monthly expense if I book it as an offset. Refund amount was 29,000 and typical expense is 15,0...
22062 Views | 6 Answers/Comments

Hiring a foreigner/non-US citizen for few days on a work permit. What type of IRS documents have to be filled out?

fanny astruc diaz
Title: coo
Company: DermaXon
(coo at DermaXon)
If we hire a foreigner/non-US citizen for temporary work on a work permit. What type of IRS document should we fill out? 1042? W2 form? Thank you very much for your help.
5857 Views | 1 Answers/Comments

Cash Strapped Small Company

Ravi Ramcharan
Title: CFO
Company: self
(CFO at self)
Hello all, What would be your advice to the owner of a small hardware store that has no cash, no access to credit facilities and who is owing suppliers but can't pay. The supplier...
8811 Views | 4 Answers/Comments

Ownership of 2 corporations with different accounting methods

Brad Burgess
Title: President
Company: Spectrum Accounting, Inc.
(President at Spectrum Accounting, Inc.)
In 2000, SELLER A and BUYER B went out on there own as independent lumber brokers. Each created their own corporation and together they created a partnership each owning 50%. The part...
6266 Views | 1 Answers/Comments

Form LLC in Wyoming and Foreign LLC in Ohio. Right way to do it? And suggestions for accounting software.

Good day. I am looking to form an LLC for sole member for a service based new business (Negotiation / Finding Deals - online, or phone) and working out of my home in Ohio. I am lookin...
5995 Views | 1 Answers/Comments

How do I find the right outsourcing company for my accounting needs?

Roger Frederick
Title: CFO
Company: Private
(CFO at Private)

I have a small consulting business. What are some things that I should look at? Experience? Cost? What else?

18868 Views | 13 Answers/Comments

Setting the right OKR for cashflow management and breakeven

(Finance Manager)
What key OKR can one set for a finance department looking at the company goals to achieve cash flow and breakeven
4917 Views | 0 Answers/Comments

Can I ignore 1099s for non-U.S. residents/entities?

Michael Scherbourg
Title: CFO
Company: Miklan Manufacturing
(CFO at Miklan Manufacturing)
Can I ignore 1099s for non-U.S. residents/entities? We have brought on some service providers in India and the UK this past year. ...
74573 Views | 9 Answers/Comments

Modern Marketing Strategies fit for a Manufacturing Company

Being in a manufacturing industry for almost 20 years, our company has maintained a strong good working relationship with our customers, whether locally and abroad. We have protected an...
5675 Views | 1 Answers/Comments

New NOC Setup

Andro Box
Title: Process Engineer
Company: NetCenter
(Process Engineer at NetCenter)
We are in the process of setting up a brand new IT operations centre for our client. We already have few processes in terms of ITIL, but is there any guide you can point to, for all the...
4836 Views | 1 Answers/Comments

Putting PTO hours back

Demetra Guillory
Title: Medical assistant
Company: Cy-Pain and Spine
(Medical assistant at Cy-Pain and Spine)
Is it legal to put PTO hours back that are used just to avoid regular pay overtime?
5146 Views | 0 Answers/Comments

Escrow Account

We (US based entity) need to open an escrow account in either Hong Kong or the UK. Is it possible to open one without physically going there? Service providers? Anyone has any experi...
5119 Views | 0 Answers/Comments

Contract CFO legal limits?

Hi, we recently hired in a contract CFO to look at our computers to check our overhead, the way we are structured and so forth. He also has a client that is trying to get into the same ...
5057 Views | 1 Answers/Comments

What would be the best way to hire a commission employee?

Maria Daniels
Title: Owner/operator
Company: Reset Business Consulting
(Owner/operator at Reset Business Consulting)
I am a smaller business. I am considering hiring someone to work for me on a commission basis. I know whenever I first started in the industry I work for commission. I am not sure ...
11962 Views | 2 Answers/Comments

As a newly hired CFO, What should my plan be for the first year?

Marwan Binyameen
Title: CFO
Company: Alsoraye investment Co.
(CFO at Alsoraye investment Co.)

As a newly hired CFO, What should my first financial plan be for the first year?

8194 Views | 0 Answers/Comments

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