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HPC Blog

Common Issues and Questions When Expanding a Business to The U.S.

By Matt Nyman • September 22, 2016 at 11:00 AM • Doing Business in the United States

There is a lot to consider when expanding your business to the US. We have received a series of specific questions and find ourselves addressing a common trend of issues and concerns for our Global Small Business clients.

Here is a short list of some of the real life example questions and issues we have come across and the way the issue or question was addressed.

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Where is the Accounting Industry Headed? A Xerocon Insider's Edition

By Bruce Phillips • September 19, 2016 at 10:30 AM • Xero, Doing Business in the United States

Attending the Xerocon in San Francisco and Brisbane really gave me a first hand hand look into the future of the accounting industry and how the cloud really fits into that future. There was great forward thinking perspective shared at these conferences and now I want to share my observations with you.

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Webinar Video: "Expanding to the United States and Collaborating with Foreign Advisors" for Global Businesses

By Bruce Phillips • September 13, 2016 at 12:45 PM • Doing Business in the United States

Businesses want to do expand to the US and internationally for multiple reasons, but will find out early on that it is fairly complicated. They will need advice and resources, and their local advisor isn't going to have all the answers, but what they can have is a resource.

For some helpful tips, check out this recent webinar on primary reasons clients are expanding to the US, some things they'll need to consider in doing so, and benefits of working with foreign advisors.

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XeroCon South in Brisbane vs XeroCon In San Francisco

By Bruce Phillips • September 12, 2016 at 4:45 PM • Xero

 

Five years ago November, I met Rod Drury in Las Vegas at what was then the Sleeter Conference. I’m pretty sure that was Xero and Rod's first exposure to the US market. There was a lot of talk in Brisbane about how Xero changes lives. Boy, has it changed mine. Little did I know that 1) Harshman Phillips would become HPC 2) A little boutique CPA firm in Atlanta would become a global technology professional services and advisory company 3) HPC and I would have NO physical offices and lastly 4) I would get to travel the world AND be recognized in far away places as a sort of Xero hero and industry icon. All of that thanks to Xero, taking a leap of faith, and a lot of hard work.

I can't say enough about the Xero ecosystem and worldwide community and the changes and opportunities it has afforded me (for those of you that know me, YES my eyes are welling up!). The business relationships and more importantly, the deep personal friendships developed around the world, are and have been just amazing.

With all of that said and provided the opportunity to attend both XeroCon SF and XeroCon South in Brisbane (Brizzy or Brisvegas as it is affectionately called). I thought I would share my observations and a little comparison. I do believe I was the only US Xero Partner to attend both. 

I am going to break it into two blog posts. First the fun stuff, here. Next week I will cover the business side.

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Upcoming Webinar: "Expanding to the United States and Collaborating with Foreign Advisors"

By Bruce Phillips • September 9, 2016 at 1:08 PM • Doing Business in the United States

Businesses want to do expand to the US and internationally for multiple reasons, but will find out early on that it is fairly complicated. They will need advice and resources, and their local advisor isn't going to have all the answers, but what they can have is a resource.

In this webinar, we'll discuss primary reasons clients are expanding to the US, some things they'll need to consider in doing so, and benefits of working with foreign advisors.

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FBAR Filing Requirements and Upcoming Changes

By Laura Ring • July 11, 2016 at 3:00 PM • Small Business Tips, IRS, Tax

Foreign filing requirements, and in particular, the FBAR, is one of the most important tax filings to have filed on time and correctly in the U.S. 

The filing penalties for the FBAR start at a nominal fee of $10,000 for late filings, and it is a lot different when $10,000 accrues interest vs what a smaller income or local delinquent filing might add up to. There is a rigorous abatement process that in our experience has allowed us to relieve many individuals of these steep penalties. However, that process costs money and time to work through too with a risk of still having to pay the tax liability. This being said, the best way to avoid penalties is to file these returns on time and correctly the first time. Here are some details to help you determine if and when you need to file the FBAR.

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How to select the right cloud accounting solution?


So much to think about, so little time....

Use this outline to save time finding the right cloud accounting solution according to your needs.

I have talked with thousands of business owners in initial conversations about cloud accounting solutions. If there is one thing I have learned, it is that while business owners and accounting providers can leverage cloud technology to do things faster and better, it certainly has not made the decision making process for most business owners easier.

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Our Free Resources for Businesses Getting Started in The U.S. from Abroad

For years now HPC has been helping businesses expand into the U.S. 

In 2016 we have been actively sharing our knowledge, experience and advice as it relates to starting a business in the U.S. from abroad. We have built online resources, facilitated monthly in depth webinars, and have continued to speak with and assist small business owners from various countries around the world. Below is a list of resources and helpful free content we have built so far.

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Why and how do we use Expensify?

By Matt Nyman • May 3, 2016 at 7:35 AM • Xero Add-Ons, Accounting Solutions, Expensify

Like many cloud accounting advisors, we at HPC love using Expensify to streamline client accounting. Expensify has multiple features and subscription plans, as well as a seamless sync with Xero. However, like most accounting add-ons, in order to work correctly and best for your particular needs, it is important that you get it setup appropriately so that you can manage a new automated process, so that it’s not just another tool or set of to-do’s.

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7 Xero Add-Ons That Will Turbocharge Your Small Business

By Bruce Phillips • May 2, 2016 at 10:00 AM • Xero, Xero Add-Ons

Every now and then a piece of software comes along that makes your life significantly better. For us here at HPC, and our clients, that software is Xero. We are so on board with Xero that we became a Platinum Partner, meaning that we use Xero to do bookkeeping for hundreds of our outsourced accounting clients.

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