Infoflash Blog
McConnell Jones Announces the Promotions of Firm Members
Firmwide Dynamic Growth Has Fueled Promotions and New Hires McConnell Jones, a top 25 CPA firm based in Houston, is pleased to announce a number of promotions in its Audit and Strategic Services group. Despite the pandemic economy during the past year, the firm has...
COVID-19 Pandemic Work Arrangement Plans
In a recent poll of national human resource directors conducted by McConnell & Jones, a new normal is expected when it comes to the traditional office environment: 47% of respondents indicated that a hybrid of work from office & home would be the new...
COVID-19 Stress Factors for Human Resources
Responses exceed 100% due to multiple responses In a survey recently conducted by McConnell & Jones and Thompson Knight in early November among human resources professionals nationwide, the stress of COVID-19 is making negative personal and professional...
Why Large-Scale System Deployments Fail – Understanding People & Data: Part 1
Leading IT research firm, The Standish Group, has examined the success rate of IT project for more than 25 years; classifying these deployments as Successful, Challenged, or Failed. Successful – A successful project was one that met all three of the triple...
Heightened Hacking: How to Avoid Being a Victim
Since the escalation of COVID-19 cases, malicious activity from cybercriminals is also on the rise. Hackers are taking advantage of the coronavirus fear to carry out attacks. This is done by creating websites that claim to have cures for the virus or by spreading...
Interviewing in the Midst of a Pandemic
It has been more than four weeks since many of the United States’ cities implemented Stay-At-Home orders due to COVID-19. As we're all adjusting to this "new normal", we must also adjust the way that we conduct business which includes the interview process. Here are...
Will Your Business Processes Take You Where You Want To Go?
Your organization should have clearly defined business goals. If it does not, well, that’s an article for another day. For now, let’s assume that it does. The question then becomes: “Will your business processes take you to where you want your organization to go?”...
How Businesses Benefit from Big Data Analytics
Business data has existed for a long time, whether in filing cabinets, ledgers or storage devices. But today businesses both large and small have to deal with huge collections of data every day. This has seen the rise of data analytics trends that include deep...
LIFO Versus FIFO and How Each Method Values Inventory
As the name implies, First-In, First-Out (FIFO) is a way for companies to value their inventory. The first items put into inventory or produced by the company are accordingly the first taken out of inventory or transferred to customers and therefore expensed. When it...
Seven Simple Steps to Starting Your Own Business
Owning a business is a dream that can become a nightmare without adequate planning. But if you follow some simple steps, a business can be a satisfying and lucrative venture. The following are seven steps you can take to ensure that your business idea has a chance to...
HBJ Ranks MJ as a 2019 Top 25 Firm in Houston
McConnell & Jones LLP(MJ) was ranked as one of the largest Houston area accounting firms in the 2019 Houston Business Journal(HBJ) Book of List. “We are proud to, once again, be listed as one of the largest firms in Houston,” said Managing Partner, Wayne...
Dishing on Employee Meals: Tax Reform and Meals and Entertainment Expenses
Over the years, the idea of only larger companies providing employee meals has drastically changed. Employers providing meals to employees has become somewhat common for many midsize to large companies. However, a recent tax law change may render the practice extinct....
Concerned About Tax Reform? We Have What You Need to Know.
The Tax Cuts & Jobs Act significantly changes the landscape for individuals and businesses, both small and large. Many provisions included in the Act take effect January 1, 2018, and will affect virtually all U.S. taxpayers. To help you understand the...
The Final Tax Bill
The much anticipated tax bill is finalized and has significant changes to personal and business tax laws, both in terms of tax structure and rules. Below is a summary of the key provisions in their final form compared to current tax law. Income Tax Rates Overall, the...
IRS Advisory – Prepaid Property Taxes MAY Be Deductible in 2017
Prepaid Real Property Taxes May Be Deductible in 2017 if ASSESSED and PAID in 2017 IRS Statements and Announcements - The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax...
Last Minute Tax Planning Ideas In Light of the New Tax Bill
As the year comes to an end and we begin reviewing the implications of the new tax reform bill, here are a few last suggestions for you and/or your business. Tax Reform Is Here - Four Moves to Make By the End of Year As always, please call one of our Tax Professionals...
The Trump Tax Reform Plan – What Is and What May Be
Major tax reform enactment is a rare event, with the last occurring back in 1986 under President Ronald Reagan. As a result, current discussions could pan out to be much ado about nothing; however, with the solid majorities that Trump and the Republicans hold in both...
Diwali Greetings
By Hasmukh Joshi, ACA My Dear Auditor Friends, Namaste! On the occasion of Diwali, I am sending you best wishes for the upcoming Hindu New Year. I have gone through our several years of relations and related the experiences in my personal, social, and...
IRS, DOL & PBGC Offer Hurricane Harvey Relief
by Eric Ernest The Internal Revenue Service (IRS) announced significant relief for the victims of Hurricane Harvey, which includes an extension for filing of Form 5500 series returns applicable to employee benefit plan reporting and compliance. Such returns that were...
Yes, You Can Lower Your Property Taxes
You can pay off your mortgage, never again seeing a bill from the bank for principal or interest, but you can never pay off your property taxes. Property taxes also, unfortunately, only seem to go one way – UP! You’ll never be able to get rid of your property taxes...