News & Insights
McConnell & Jones CPAs Announces Volunteer Partnership with Boys and Girls Clubs of America
McConnell & Jones LLP (MJ) is teaming up with Boys & Girls Clubs of America (BGCA) to support youth in our local communities to ensure kids have fun, and can participate in programming that emphasizes academic success, good character and active lifestyles. ...
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...
Just Passing Through: How to Deduct Business Losses After the Tax Cut and Jobs Act
The pass-through entity structure, which includes sole proprietorship, partnerships, S corporations and certain limited liability companies (LLCs), provides owners with some valuable tax benefits. This includes avoidance of double taxation and the potential ability to...
Team MJ Stays Busy During the Summer — We’re Out and About and Sharing Our Knowledge
More than 10 professionals from McConnell and Jones will attend conferences this summer including the Edison Electric Institute Business Diversity Conference on July 9-12, 2019, an annual event dedicated to connecting diverse suppliers with energy industry companies....
McConnell and Jones’ Employee Benefit Plan Assurance Team Presents at the National Council of Philippine American Canadian Accountants National Convention
Three employee benefit plan assurance professionals presented at the National Council of Philippine American Canadian Accountants (NCPACA) National Convention July 5-6 in the Woodlands, Texas. The convention is a joint effort between NCPACA and the Filipino American...
On Your Mark, Get Set, Go!
Preparing to implement the new Lease Accounting Standard - ASU 2016-02, Leases (Topic 842) The FASB’s lease accounting standard change, ASU 2016-02, Leases (Topic 842), presents dramatic changes to the balance sheets of lessees. With the effective dates quickly...
Benefits To Your Bottom Line: 10 Reasons to Outsource Your Accounting Function
Time is a precious commodity for every company and business owner with many looking to accomplish more with fewer resources. When coupled with increasingly complex tax laws, accounting standards, and regulatory requirements, many businesses have turned to outsourcing...
How to Create Cash Flow Projections and Profit & Loss Statements
When it comes to making cash flow projections, we’re all aware that it’s not an exact science. One of the main difficulties about accurately projecting cash flow has to do with timing. Examples include factoring in overhead such as payroll; lease or tax payments on...
Most Common Startup Mistakes (and How to Avoid Them)
As Small Business Week comes to an end, we reflect on the many stages of owning a small business. While there are many business successes, there are unfortunately many more business failures. Various factors, including the type of industry or the age of a business,...
Mark A. Schwartz Promoted to Partner in the Federal Assurance and Advisory Services Practice
McConnell & Jones LLP (MJ) has promoted Mark A. Schwartz to Partner in the firm’s Federal Assurance and Advisory Practice. Having joined our firm in 2016, Schwartz’s background includes specialized experience performing financial audit, advisory and compliance...
Eric Ernest, Employee Benefit Plan Audit and Compliance Partner, Invited to Present at Greater Washington Society of CPAs Conference
Employee Benefit Plan Assurance practice leader, Eric Ernest, CPA, is slated to present at the Greater Washington CPA Society’s (GWSCPA) 6th Annual Employee Benefit Plan Conference on May 9. Eric is joined by Adam Meehan, Partner representing the law firm of Smith...
How to Determine a Business’ Health by its Net Profit Margin
When it comes to figuring out a company's net profit margin, this calculation gives a business and its financial officers a much better picture of the company’s profitability. Defining Net Profit Margin Net profit margin determines the percentage of revenue that ends...
Three Tax Woes and How to Survive Them
The tax deadline is days away. But if you’re going to be late in filing, can’t pay all of what you owe, or have the fear that you might be audited, don’t panic! We’ve got you covered with some smart ways to handle these three, potentially scary scenarios. Late Filing...
Fraud and Internal Audit – Assurance Over Fraud Controls, Fundamental to Success
Every year billions of dollars are lost to fraud and corruption resulting in inefficiencies, aborted projects, financial challenges, and in extreme cases organizational failure. Often fraud occurs because of poorly designed controls and weak...
Accounting Today Ranks as A 2019 Top Accounting Firm
McConnell & Jones LLP (MJ) is ranked as a top accounting firm in the Southwest region of the United States in the 2019 Top 100 Firms, a special report issued by Accounting Today. The recognition highlights top performing accounting firms in the Southwest region of...