James Liggett CPA

  As an accountant, managing your time efficiently is essential for your success. With so many responsibilities and deadlines to meet, it's easy to get overwhelmed and lose track of your productivity. That's why it's crucial to develop habits that can help you optimize your productivity. In this article, New York-based CPA James Ligett, partner at Liggett, Melzer & Joshi CPAs P.C., shares his top five tips for accountants to optimize their productivity.  

  The world is changing quickly and so are the companies. Keeping up with all these changes requires a constant effort from the management team. A company audit is one of the best ways to ensure that your business continues to thrive in this ever-accelerating digital era. These audits help streamline processes, identify potential risks and opportunities, and eliminate unnecessary costs. They also help you manage your finances more effectively and plan for future growth. This makes them an essential part of any business. In this post, Certified Public Accountant James Liggett CPA will explain what a company audit is and why you should have one in your company. Keep reading to learn more about it.  

  The ability to forecast revenue and stay ahead of revenue cycle demands is essential for any accounting firm. As the demand for accounting services becomes more competitive, it is crucial for accounting firms to maintain a hard-nosed approach to digital business. Future-proofing your firm is essential to maintaining and growing your accounting business.   Future-proofing is the process of making sure that your accounting business is taking precautions to remain relevant irrespective of any sudden changes in the market.   There are many ways that you can future-proof your accounting firm, but it all starts with the right mindset. Below, Certified Public Accountant James Liggett CPA takes a look at the three key elements that can help you get started.

  If you are in the market for a new job, managing your own company, or just want to give your company a much needed boost, corporate consulting is likely something you should consider. Many businesses use external consultants to help them with improving their business tactics, finding solutions for productivity issues, implementing lean or agile practices, and more. In this post, Certified Public Accountant James Liggett CPA will explore how corporate consulting can be beneficial to any type of company and why it is worth considering.

  The United States Department of Labor (“DOL”) generally requires employee benefit plans (“EBP”) with 100 or more participants to have an audit as part of their annual Form 5500 filing. Employee benefit plan audits are unique in several ways. Most importantly, employee benefit plan audits should do more than support financial statements, EBP plan audits should also evaluate plan operations. These unique attributes of employee benefit plan inquiries require an intimate knowledge of the specific plan being audited, the Employee Retirement Security Act of 1974 (“ERISA”), the disclosure and disclosure requirements of the Department of Labor of the United States, in addition to generally accepted accounting principles and the AICPA audit rules The employee benefit plan accounts represent an area of ​​significant opportunity for auditors. In an article published in April 2020, Accounting Today reported that there are currently more than 83,000 audits of employee benefit plans conduc...

In the United States, companies have deductible expenses which can be subtracted from the taxes payable on the tax return. All of them are related to the performance of any business and must justify their validity by means of an invoice and presented in a timely manner.

The audit plays a very important role in a company : it review s the accounting, administrative, labor, etc. procedures of a company and verifies that certain previously established criteria are met. James Liggett CPA , who has decades of experience in this field, define s the concept of auditing as the process by which a company or independent professional (auditor) is hired to collect accounting information. T his information , as specified by Liggett CPA is valuable to verify that the company being audited has complied with the accounting standards.