Posts by Adam mcgee
Payroll: More Than Just Paychecks — 3 Key Objectives for Every Business
Payroll is a critical function in any organization’s accounting process, often perceived merely as the process of compensating employees for their work. However, the intricacies and complexities of payroll go far beyond just issuing paychecks. It encompasses a wide array of responsibilities, including tax compliance, benefits administration, accurate record-keeping, and regulatory reporting—all of which play…
Read More3 Reasons to Involve Hallows & Company in Estate Planning
Estate planning is more than just drafting a will—it’s about protecting your legacy, minimizing tax burdens, and ensuring your wishes are carried out efficiently. While our attorneys lead the legal aspects of an estate plan for you, our accountants play a vital role in making sure your plan is financially sound. At Hallows & Company,…
Read More3 Key Ways to Avoid Filing a Tax Extension Next Year
Each year, millions of taxpayers find themselves scrambling as the tax deadline approaches, with many ultimately filing for an extension. While extensions provide extra time to submit your return, they don’t give you more time to pay taxes owed, and they often create unnecessary stress and penalties if not managed correctly. The good news? Filing…
Read More5 Ways to Invest in Your Future with Hallows Financial
The tax and accounting industry is notorious for looking in the rearview mirror rather than focusing on the future. At Hallows Financial, we think a better approach to accounting is using the past as a tool to make informed decisions for the future. For that reason, we are an advocate for having a financial advisor…
Read More3 Ways Bookkeeping Builds a Solid Accounting Foundation
Bookkeeping…..the word often strikes fear in the hearts of a small business owners who dread this mundane task. However, good bookkeeping is actually the cornerstone of any business’s accounting system. Proper bookkeeping ensures that financial data is accurate, comprehensive, and accessible, providing the foundation upon which all other accounting processes are built. Here are three…
Read More7 Valuable Takeaways from the 2023 Tax Season
With the 2023 tax season in the books (literally), we at Hallows & Company like to review what went well and lessons learned from an interesting tax season. The 2023 season brought with it several significant changes and developments that impacted taxpayers and businesses. Reflecting on this past year reveals important lessons about adapting to…
Read More10 Things to Know about Filing a Tax Extension
Filing a tax extension can provide relief for businesses and individuals who need more time to gather their financial documents or prepare their tax returns accurately. Accountants at Hallows & Company have heard some false information being spread around about what it means to file an extension. Here’s what you need to know about filing…
Read MoreAccounting for Technology: 5 Ways for Personal Interaction in a Digital Age
In the ever-evolving landscape of business and finance, the role of accountants has transformed significantly. The traditional image of an accountant buried in stacks of paper has given way to a dynamic and tech-savvy professional who harnesses the power of the latest technologies. However, amidst this technological revolution, Hallows & Company understands the importance of…
Read More6 Functions of a CFO and Why You Need CFO for Your Small Business
A CFO, or Chief Financial Officer, is a high-ranking executive responsible for managing a company’s financial operations, strategies, and overall financial health. They play a critical role in ensuring the financial stability and growth of a business. Here at Hallows & Company we talk to many clients who could benefit from having a CFO work…
Read More12 Tax Planning Strategies to Discuss with Your Accountant Before Year-End
As the end of the year approaches, it’s essential to engage in tax planning discussions with your accountant to optimize your financial situation and minimize your tax liability. At Hallows & Company we love to meet with as many clients as we can because we understand that effective tax planning can help you take advantage…
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