Bowers CPAs & Advisors

Just wrapped up an amazing afternoon in the kitchen, cooking meals for Sarah's Guest House. WE are grateful for the opportunity to make a positive impact in our community.

Due to the nature of the cannabis industry and its non-legal status on the federal level, marginal tax rates are higher making it is imperative to understand IRC Section 280E and the impact it has on cannabis-related businesses. https://www.bcpllc.com/what-is-the-280e-tax-and-how-does-it-impact-my-nys-cannabis-business/

What is the 280E Tax and How Does It Impact My NYS Cannabis Business The Ma*****na Regulation and Taxation Act legalized cannabis sales in New York State with checks. The 280E tax is one of those checks.

WE wanted to give a shout out to the winners of our Holiday Cookie Contest for National Cookie Day yesterday. A massive THANK YOU to everyone who participated! Stay tuned for more Holiday updates, exciting new to come!

After years of low yields, bonds are offering higher yields that may be appealing to investors regardless of their risk tolerance. This article provides an overview of bond risks:

Bond Yields Are Up, but What Are the Risks? After years of low yields, bonds are offering higher yields that may be appealing to investors regardless of their risk tolerance. This article provides an overview of bond risks.

Bowers CPAs & Advisors is hiring! Check out our website for details on job opportunities.

Opportunities – Bowers & Company CPAs PLLC Your SUPER-powered WP Engine Site

Due to the nature of the cannabis industry and its non-legal status on the federal level, marginal tax rates are higher making it is imperative to understand IRC Section 280E and the impact it has on cannabis-related businesses. https://www.bcpllc.com/what-is-the-280e-tax-and-how-does-it-impact-my-nys-cannabis-business/

What is the 280E Tax and How Does It Impact My NYS Cannabis Business The Ma*****na Regulation and Taxation Act legalized cannabis sales in New York State with checks. The 280E tax is one of those checks.

QuickBooks is the ideal business accounting software for small to mid-sized business owners. In addition to having several Certified QuickBooks ProAdvisors available to help you, we've compiled 10 more reasons why you should be using QuickBooks:

10 Reasons Why You Should Use QuickBooks QuickBooks is the ideal business accounting software for small to mid-sized business owners. Here's 10 reasons why you should be using QuickBooks.

Business owners may be able to claim one of two new federal tax credits to help offset the cost to purchase certain clean vehicles:

Breaking Down Clean Vehicle Tax Credits for Business Owners Business owners may be able to claim one of two new federal tax credits to help offset the cost to purchase certain clean vehicles.

Many business owners find themselves in at least one or more situations in which having a valuation done for their company is beneficial - sometimes even statutorily required. Here we outline the benefits of obtaining a valuation of your company:

The Benefits of Getting a Business Valuation This article outlines several potential benefits of obtaining a valuation of your company.

High-deductible health plans offer potential savings by encouraging cost-effective choices in medical spending, as well as eligibility for a health savings account with tax advantages - learn more:

HDHP/HSA Pairing May Help Control Medical Costs High-deductible health plans offer potential savings by encouraging cost-effective choices in medical spending, as well as eligibility for a health savings account with tax advantages.

WE had a fantastic time connecting with M&T Bank in Rochester at Native Eatery & Bar. WE are grateful for the opportunity to connect with other financial professionals in such a lively setting.

Engaging conversations, new connections, and a vibrant atmosphere—our team embraced it all! Here's a glimpse into our afternoon:

Exciting times at Bowers CPAs & Advisors as WE had the privilege of participating in the St. John Fisher Accounting Networking event yesterday. It was inspiring to connect with bright minds eager to embark on their accounting journeys.

Our team had engaging conversations with students passionate about the world of accounting, and WE are thrilled about the potential collaborations ahead.

Today, WE want to give a special shout out to our incredible accounting partners who go above and beyond, not just in crunching numbers, but also keeping our team fueled and happy.

WE are grateful for the delicious Thanksgiving lunch our partners served us today and the warm camaraderie they bring to our workspace every day.

One of the most exciting (and scary) experiences when starting a small business is hiring your first employee. Part III in our Freelance to Small Business Owner series offers pointers to adding to your team:

From Freelancer to Small Business Owner: Hiring Your First Employee This article is the third of a three-part series that looks at how to transition from a freelancer to small business owner and knowing when and how to hire your first employee.

: The IRS has unveiled a game-changing move for businesses navigating the Employee Retention Credit (ERC) landscape. Worried about an ineligible claim or caught up in the whirlwind of aggressive marketing and scams? Bowers has your back. Don't let uncertainty linger - learn more in this article:

Need to Withdraw an ERC Claim? Bowers Can Help. If you have filed an ERC claim and are concerned that the claim may not be valid – good news. Bowers CPAs & Advisors may be able to help.

Consumer spending has bolstered the economy amid inflation, higher interest rates, and a cooling job market. This article looks at what may be driving spending and what might derail its momentum:

HOT TOPIC: Can Consumers Keep Carrying the Economy? Consumer spending has bolstered the economy amid inflation, higher interest rates, and a cooling job market. This article looks at what may be driving spending and what might derail its momentum.

When scaling from freelancer to small business owner, it's important to look at your digital presence, define who your audience is, and set long-term goals. We discuss these topics and more in part II of our series:

From Freelancer to Small Business Owner: Thriving in Your New Role In part two of our Freelancer to Small Business Owner series, we outline ways for your business to grow using different strategies.

Changes to the 2024–2025 Free Application for Student Aid (FAFSA) allow grandparents to help with college expenses without affecting financial aid eligibility based on the FAFSA.

New FAFSA Favors Grandparent College Giving Changes to the 2024–2025 Free Application for Student Aid (FAFSA) allow grandparents to help with college expenses without affecting financial aid eligibility based on the FAFSA.

Transitioning from a freelancer to a small business owner can be daunting. Check out our three-part series on launching a small business to see if you are ready and prepared for what lies ahead:

How to Transition from Freelancer to Small Business This article is the first of a three-part series that looks at how to transition from a freelancer to small business owner.

A sound retirement plan should be based on personal circumstances, and no one strategy is suitable for everyone. This article looks at four goals that a retirement strategy should address.

Four Key Objectives of a Sound Retirement Plan A sound retirement plan should be based on personal circumstances, and no one strategy is suitable for everyone. This article looks at four goals that a retirement strategy should address.

Accurate accounting and proper bookkeeping are essential to scale your business. Here are 9 reasons to consider outsourcing your accounting needs, which can be key to ensuring greater efficiency and profitability. https://www.bcpllc.com/nine-benefits-of-outsourcing-accounting-services/

Nine Benefits of Outsourcing Accounting Services By outsourcing accounting services, you get both an experienced, knowledgeable accounting team and a price that is right for your company.

A financial crisis can strike when least expected, so it’s important to have a sufficient emergency fund. This article offers some suggestions to help increase a fund before it’s needed.

Time to Bulk Up Your Emergency Fund A financial crisis can strike when least expected, so it’s important to have a sufficient emergency fund. This article offers some suggestions to help increase a fund before it’s needed.

When starting up a cannabis business, you must consider the cost involved. This article highlights steps that will help business start-ups navigate and calculate initial costs: https://www.bcpllc.com/how-to-calculate-cannabis-business-start-up-costs/

How to Calculate Cannabis Business Start-up Costs Any start-up company must calculate costs. The complicated, growing cannabis industry is no exception. Learn how to navigate and calculate initial costs.

This article discusses the market dynamics that are impacting oil prices and adding to concerns about broader inflation and economic growth.

HOT TOPIC: Rising Oil Prices Could Pose the Latest Threat to the Economy This article discusses the market dynamics that are impacting oil prices and adding to concerns about broader inflation and economic growth.

A well-designed Internal Control Assessment can improve operational efficiency, prevent fraud and ensure accurate financial reporting and data management. Learn how an assessment of your company's internal controls can keep your business running smoothly and successfully: https://www.bcpllc.com/why-businesses-should-perform-an-assessment-of-internal-controls/

Why Businesses Should Perform an Assessment of Internal Controls Business owners should assess existing Internal Controls to help safeguard the company's interests and prevent fraudulent activities.

Social Security is complicated, and the details are often misunderstood even by those who are already receiving benefits.

Social Security 101 Social Security is complicated, and the details are often misunderstood even by those who are already receiving benefits.

Understanding the necessity and subsequent process of an audit can go a long way to ease concerns for a nonprofit. Learn about when and why a nonprofit would need an audit in this article: https://www.bcpllc.com/the-ins-and-outs-of-a-not-for-profit-audit/

The Ins and Outs of a Not-for-Profit Audit For a not-for-profit with limited resources, an audit can be downright scary. But it doesn’t have to be. Understanding the necessity and subsequent process of an audit can go a long way to ease concerns.

Staff members recently enjoyed an Uncle Sam Tour on the St. Lawrence River as part of a company-wide employee appreciation event. What a beautiful day for a tour!

This article explains the rules for required minimum distribution from tax-deferred retirement accounts with an emphasis on the new provisions of the SECURE 2.0 Act.
https://www.diversifiedcapitalmanagement.com/New-RMD-Rules-Give-Retirement-Savings-More-Time-to-Grow.c10119.htm