Insights
We’re proud to provide regular industry insights that impact our clients.
Simplifying Year-End Accounting Challenges for Small Businesses
As the end of the year approaches, small business owners often feel like they’re racing the clock—tax season is just around the corner, financial reports need to be filed, and the new fiscal year looms ahead. While year-end accounting might seem overwhelming,...
Navigating 2025 Tax Roll Offs: Strategies and Tips
As we approach 2025, significant tax changes are on the horizon, impacting individuals and businesses alike. These roll-offs present both challenges and opportunities for strategic planning. Below, we outline the key changes and provide helpful suggestions on...
Navigating Tax Audits for Restaurants: Key Areas and Compliance Tips
An audit by the Internal Revenue Service (IRS) or state and local governments can be a source of anxiety and financial strain, especially if non-compliance is found. Restaurants, with their numerous tax obligations and regulations, must be vigilant to ensure...
2024 Updated Tax Implications for Gifting
The first quarter of 2024 brings some substantial changes to how financial gifts will be taxed moving forward. In this article, we are going to focus on two key changes that may impact how you currently invest funds to support your beneficiaries in the future:...
2023 Year-End Tax Planning Checklist for Businesses
As 2023 is ending, now is the perfect time to evaluate your business’ tax planning strategy to optimize your returns. While inflation, interest rates, and potential legislation can make it impossible to completely predict the future, establishing a consistent list of...
Expanded Electronically Filing Requirements by the IRS
The Internal Revenue Service (IRS) announced finalized regulations earlier this year on February 23. The regulations significantly expanding mandatory electronic filing of tax and information returns, requiring a majority of all returns filed in or after 2024 to be...
SECURE Act 2.0 – Changes Effective in the Future
The SECURE Act 2.0 will bring about significant changes to retirement plan contributions and benefits. Among the changes are provisions that will affect automatic enrollment in 401(k) plans, eligibility requirements for part-time employees, and employer contributions...
SECURE Act 2.0
The SECURE Act was initially released in December 2019 and sought to expand retirement savings coverage and increase savings overall. In late 2022, the Biden administration signed into law the Consolidated Appropriations Act, 2023 including the SECURE Act...