News & Resources

Five Benefits of Outsourcing Your Accounting Needs

  CPA firms do more than audits and tax returns. They can also help you with everyday accounting-related tasks, such as bookkeeping, budgeting, payroll and sales tax filings. Should your organization outsource its accounting needs? Here are five potential advantages

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Tax-Wise Ways to Save for College

  If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several approaches to take maximum advantage of the tax-favored ways to save that may be available to you.

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Update on Remote Auditing

  Remote work became a buzz topic when the United States went into lockdown mode in 2020 to combat the effects of COVID-19. Like many companies, audit firms quickly shifted to remote auditing with video conferencing and drones. Now that

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Pick the Right Accounting Method for Your Business

  Timely, accurate financial information is essential to running a successful business. There are a number of accounting methods you can use to record and track your business’s financial performance. Here’s an overview of cash, tax and accrual basis accounting

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Somerset Promotes Four Professionals to Principal

  Somerset is pleased to announce the recent promotions of four professionals to Principal. Please join us in congratulating Jeremy, Shaun, Gavin and Jordan! Jeremy J. Davis, CPA, of Somerset’s Private Business Advisory Team, has been promoted to Principal. Jeremy’s

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How to Report Software Costs

  What do Tesla cars, smart TVs and equipment used for making french fries have in common? The answer is embedded software, according to recent comments by Financial Accounting Standards Board (FASB) Vice Chair James Kroeker. He also told the

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Is It Time to Update Your Accounting Practices?

  If you ask some business owners why they do things a certain way, they might answer, “Because we’ve always done it that way.” But with all the changes that have taken place in the financial and accounting realm, doing

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