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Eckhoff Accounting News & Resources

Financial Statements Tell Your Business’s Story, Inside and Out

Financial Statements Tell Your Business’s Story, Inside and Out


Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements.

In short, financial statements are detailed and carefully organized reports about the financial activities and overall position of a business.

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Why You Shouldn’t Wait to File Your 2018 Income Tax Return

Why You Shouldn’t Wait to File Your 2018 Income Tax Return


The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline, this year consider filing as soon as you can. Why? You can potentially protect yourself from tax identity theft — and reap other benefits, too.

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Refine Your Strategic Plan With SWOT

Refine Your Strategic Plan With SWOT


With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but haven’t quite put the finishing touches on it yet. In either case, there’s a time-tested approach to refining your strategic plan that you should consider: a SWOT analysis.

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Depreciation-Related Breaks on Business Real Estate:  What You Need to Know When You File Your 2018 Return

Depreciation-Related Breaks on Business Real Estate: What You Need to Know When You File Your 2018 Return


Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more quickly are available for certain real estate investments.

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Get Wise to the Rise of “Smart” Buildings

Get Wise to the Rise of “Smart” Buildings


Nowadays, data drives everything — including the very buildings in which companies operate. If your business is considering upgrading its current facility, or moving to or constructing a new one, it’s important to be aware of “smart” buildings.

A smart building is one equipped with a variety of sensors that gather and track information about the structure’s energy usage and performance.

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