Midyear Is A Good Time To Update Your Business’s Strategic Plan
Strategic planning isn’t meant to be a one-time exercise. Your plan should evolve with your business — and the environment in which it operates. Regular reviews help ensure your bu [...]
Common Audit Findings in Construction, Government Contracting, and Nonprofits—and How to Prevent Them
Introduction Audits are more than compliance—they’re an opportunity to strengthen financial reporting and build confidence with stakeholders. For construction firms, government con [...]
Moving To A New State? Review The Tax Implications First
Whether you’re relocating for work, retirement, family or lifestyle reasons, state taxes can have a significant financial impact. Taxes vary widely from state to state. And [...]
3 Methods Business Valuation Pros Use To Calculate Lost Profits
Business disputes often involve more than determining who was at fault — they also require measuring the financial harm caused by a particular action or event, typically in the for [...]
Self-Employed? Don’t Overlook A Roth IRA
Some small business owners overlook Roth IRAs because they assume their income is too high for them to qualify to make Roth contributions. Others may think their current tax rate i [...]
The Pros And Cons Of Alternative Investments For Nonprofits
As your not-for-profit looks for new ways to strengthen long-term financial performance, you might be considering alternative investments. They boost diversification and can provid [...]
Protect Yourself From Fraudsters Impersonating The IRS And Other Tax Scams
Tax scammers continue to target taxpayers through email, text messages, phone calls and regular mail. They often try to create urgency or fear to trick victims into sharing sensiti [...]
Affordable Ways To Protect Your Small Business From Fraud
When it comes to fraud, small business owners can feel like they’re between a rock and a hard place. On the one hand, the Association of Certified Fraud Examiners (ACFE) has found [...]
Add Flexibility To Your Estate Plan With Powers Of Appointment
Powers of appointment allow a trusted individual (the “holder”) to adjust how assets are distributed after your death, based on changing circumstances. These might include marriage [...]
Catch And Develop: How To Leverage High-Potential Employees
Hiring can be expensive, time-consuming and uncertain. That’s why today’s small and midsize employers need to identify their high-potential employees: those with the ability, motiv [...]
What You Can Do To Protect Your Business From Rising Costs
For the 12 months ending in April 2026, the U.S. inflation rate was 3.8%, according to the U.S. Bureau of Labor Statistics. Prices for your business’s products, materials and other [...]
How To Make Financial Reports Easier For Stakeholders To Understand
Financial statements are essential tools for evaluating performance, planning for growth and managing risk. Yet many business owners, board members, donors and investors don’t have [...]
Why Performance Management Is A Financial Imperative For Employers
When an employee’s performance slips, many small and midsize employers hesitate to act. It’s an understandable reaction. Confrontations are often difficult for supervisors. Trouble [...]
Consider Your Potential Charitable Deduction Before Donating Artwork
If you give artwork to charity, the deduction you can claim depends on several factors, including the type of organization receiving the piece and how it will be used. Special subs [...]
IRS Issues Final Regulations On Tips Tax Break
Last year, a new income tax deduction for qualified cash tips went into effect under the One Big Beautiful Bill Act (OBBBA). The break is scheduled to expire after 2028. In Septemb [...]
Protecting Nonprofit Operations And Financial Stability When Disaster Strikes
From winter storms and flash floods to wildfires and hurricanes, nearly every region of the United States faces the risk of natural disasters. But organizations must also consider [...]
Estate Planning For Foreign Assets Requires Extra Attention
Do you hold assets such as overseas real estate, foreign bank accounts or investments in international markets? Properly addressing foreign assets in your estate plan is ess [...]
What’s A “Small Business,” And Why Does It Matter?
Certain small businesses may qualify for various federal tax breaks. But different tax provisions use different size tests. Read on to learn more about big tax breaks for small businesses that meet one such test.
Understanding Taxable Gift Implications of Allowing Free Use of a Residence
Understanding Taxable Gift Implications of Allowing Free Use of a Residence When you allow someone, whether a child, parent, or friend, to use your residence rent-free, it may have potential gift tax implications under U.S. federal tax law. The IRS considers the fair market rental value of the property as a key factor in determining whether such an arrangement constitutes a taxable gift. Below, we explore the rules, factors, and strategies to consider.
Partnerships vs S-Corporation
Partnerships vs S-Corporation Thinking about starting a business but not sure how to set it up? Choosing the right structure can impact your taxes, liability, and future growth. Two common options—Partnerships and S Corporations—come with their respective advantages and rules. In this post, we will highlight the key elements of each to help you decide which structure may be the better fit for your business.
Maryland’s New Tax on Technology Services: What You Need to Know
Maryland’s New Tax on Technology Services: What You Need to Know Starting July 1, 2025, Maryland introduced a new 3% sales tax on various technology services, a move designed to modernize the state’s tax system in response to the growing digital economy.