Category: Business Consulting and Planning

Business Consulting and Planning

Cybersecurity Risk Assessments Critical to Helping Businesses Prevent Data Breaches by Brandon Bowers


Posted on September 03, 2024 by Brandon Bowers

Falling victim to a data breach that involves unauthorized access to a company’s confidential information can be especially costly for small and mid-size businesses in terms of lost revenue, loss of productivity and reputational damage. Yet even as the number of small businesses impacted by cyberattacks continues to rise, less than half have adopted cybersecurity […]

UPDATED – The Deadline for Corporate Transparency Act Reporting is Fast Approaching – Have You Filed? by Joel G. Young, JD, LLM


Posted on August 23, 2024 by Joel Young

UPDATED – On December 3, 2024, a federal court in Texas ruled that the CTA is likely unconstitutional and prohibited its enforcement. This set off a review, injunction and follow-up hearing date in March 2025. Until the courts sort it out, companies are no longer required to report by the original deadlines. We are watching […]

Will the Loper Decision Foster Continued Uncertainty in Financial Services Tax Matters? by Magda Szabo, CPA, JD, LLM


Posted on August 21, 2024 by Magda Szabo

On June 28, 2024, the U.S. Supreme Court issued a landmark decision in Loper Bright Enterprises v. Raimondo,[1] overturning its 40-year long-standing precedent set forth in Chevron v. Natural Resources Defense Council.[2] The latest ruling has far-reaching consequences concerning the courts’ power to override a federal agency’s interpretation (regulatory guidance) of the laws Congress designated […]

Is Cash or Accrual Accounting Best for My Business Structure? by Shanna Shim, CPA


Posted on July 10, 2024 by Shanna Shim

Small and midsize businesses generally have two options for maintaining their financial books and records: the cash and accrual methods of accounting. While each approach offers businesses unique benefits at different stages of their life cycles, business owners must recognize when they should transition from one method of financial accounting to the other. The cash […]

Florida Revives Sales-Tax Holiday by Karen A. Lake, CPA


Posted on June 27, 2024 by Karen Lake

During July 2024, consumers in Florida can purchase recreation equipment, outdoor items and admissions to entertainment and cultural events within the state without paying state sales tax. The state’s legislature passed the annual Freedom Month Sales-Tax Holiday to help make it more affordable for families to enjoy all that the Sunshine State has to offer […]

IRS Sets 2025 HSA Contribution Limits by Brendan Kurpis, CPA


Posted on June 11, 2024 by Brendan Kurpis

The IRS has released the inflation-adjusted limits that qualifying taxpayers may contribute to health savings accounts (HSAs) in 2025. These triple-tax-advantaged accounts can help participants afford the rising costs of healthcare today and save for even higher expenses during retirement. Background HSAs are powerful healthcare savings tools that provide participants with the following tax benefits: […]