Author Archives: mgracey

Earlier this summer, Florida’s legislators passed House Bill 1021 (HB 1021), which places more rigorous governance, transparency and accountability requirements on the state’s condominium and homeowners associations and the management firms with which they work. These changes, which went into effect on July 1, 2024, also give homeowners and their legal counsel new tools for […]

In this episode Associate Director of Tax Services Joel Young, JD, LLM, explains the requirements and timeline for Corporate Transparency Act reporting.

With just a few weeks to go until Election Day, and with early voting already underway in several states, you would think that each candidate’s policy positions are firmly set by now. It would be even more reasonable to think that about their tax proposals since taxes should be less affected by day-to-day current events. […]

The people you name to administer your trusts play a pivotal role in protecting your assets. Not only do they have the fiduciary duties to make prudent investment decisions and manage the distribution of trust assets as specified in your trust agreements, but they are also legally responsible for ensuring beneficiaries receive a full accounting […]

The Financial Crimes Enforcement Network (FinCEN) today postponed the 2023 Report of Foreign Bank and Financial Accounts (FBAR) filing deadline from Oct. 15, 2024, to May 1, 2025, for taxpayers who live in federally designated disaster areas in the wake of Hurricane Helene. This six-and-a-half-month filing extension applies to qualifying taxpayers in Alabama, Georgia, North […]

The IRS today is providing tax relief for individuals and businesses affected by Hurricane Helene and Hurricane Milton by extending various tax-filing and tax-payment deadlines to May 1, 2025. The delayed deadline applies automatically to taxpayers with homes or businesses in jurisdictions declared federal disasters by the Federal Emergency Management Agency (FEMA), which includes the […]

In this episode, Senior Manager of Tax Services Joseph Leocata shares the latest trends in IRS audits and four good tips for individuals and companies who may be targets.

As your business grows with new customers, products or service offerings, your expenses will likely increase. How you manage these liabilities can significantly impact your operation’s cash flow, credit ratings, risk of fraud and your relationships with vendors and suppliers. The key to ensuring a healthy financial picture is learning how to analyze your accounts […]

The IRS announced in August the reopening of a voluntary disclosure program (VDP) to help taxpayers fix and repay incorrect Employee Retention Tax Credit (ERC) claims without penalties, interest or criminal charges. Congress introduced the ERC in 2020 to provide businesses and nonprofits with economic assistance during the COVID pandemic. The ERC-VDP will run through […]

In this episode, accounting systems advisor Shanna Shim shares some of the hidden costs of old software and what business owners should consider when their accounting systems are holding them back.