Business Owners

Employer Benefit Plan Sponsors Face New Audit Requirements by Melissa Fleitas, CPA

Posted on June 27, 2022 by Melissa Fleitas

The July 31 deadline for businesses to file annual employee benefit plan returns (or request a three-month filing extension) is right around the corner. While all employers offering defined contribution plans will find a few changes to the information reporting requirements found on IRS Form 5500, those with 100 or more eligible plan participants should […]

Hurricane Season Checklist for Business Owners by Kevin McNally, JD

Posted on June 23, 2022 by Kevin McNally

Whether you are a long-time Florida business owner, or you recently relocated your company or staff to the state, it is that time of year when you must begin preparing for hurricane season, which runs annually from June 1 through November 30. The following checklist is intended to help you protect and preserve your assets, […]

Important Considerations for Adapting to Evolving Market Demands and Changing Business Models by Hector E. Aguililla, CPA

Posted on June 07, 2022 by Hector Aguililla

The pandemic and subsequent years of economic uncertainty have proven that change is the one constant business leaders must accept and continually prepare for, not only to survive, but also to thrive over the long term. While changes may involve modifications to specific segments of a business, such as narrowing or expanding geographic distribution, products […]

Podcast – BPB Knows SOC Reporting

Posted on June 02, 2022 by Steve Nouss

In this episode Director of Consulting Services Steve Nouss explains the various types of SOC reports. Companies that have their processes reviewed under SOC standards give peace of mind to vendors and customers.

3 Ways Real Estate Investors Can Avoid the Passive Activity Loss Limitations Rules by Angie Adames, CPA

Posted on June 01, 2022 by Angie Adames

One of the most basic tenets of tax efficiency is tax-loss harvesting, or the practice of selling underperforming investments and creating a capital loss that you can then use to offset capital gains and ultimately reduce the amount of income subject to tax. Despite the simplicity of this concept, there is a myriad of complexities […]

Now is the Time to Prepare Your Business for Hurricane Season by Daniel S. Hughes, CPA/CFF/CGMA, CVA

Posted on May 23, 2022 by Daniel Hughes

June 1 marks the start of the Atlantic hurricane season and the potential for tropical force winds and heavy rainfall to damage property and impede business operations. The key to minimizing losses and getting your company back up and running after a storm is to have an actionable plan in place before the National Weather […]

Podcast – BPB Knows Estate Planning

Posted on May 19, 2022 by Jeffrey Mutnik

In this episode Director of Tax Services Jeff Mutnik explains when someone needs an estate plan and the potential tax and legacy value in creating a plan, including avoiding probate and trusts you can control before and after death.

Owning and Selling C Corporations vs. S Corporations by David E. Kolan, CPA

Posted on May 18, 2022 by David Kolan

The pandemic has spurred a tsunami of entrepreneurial new businesses. According to the U.S. Census Bureau, a record 5.4 million new business applications were filed in 2021, compared to 4.4. million in 2020 compared to 3.5 million before the pandemic in 2019. Whether these ventures will prove successful remains to be seen, but each one […]

Businesses Have Legal Obligations to Identify, Report Unclaimed Property by Karen A. Lake, CPA

Posted on May 12, 2022 by Karen Lake

All 50 states and the District of Columbia have laws regulating the disposition of unclaimed property, whose title must transfer to the state after a set period through the legal process of escheatment. Over the past year, however, several states have changed their laws, stepped-up enforcement efforts and initiated litigation to help ensure businesses and […]

What To Do After Filing Your Tax Returns by Tomoko Shoji, CPA/PFS, CFP

Posted on May 10, 2022 by Tomoko Shoji

Congratulations! You filed your tax return (or requested a filing extension) and paid your tax liabilities by the April deadline. However, there are circumstances for which you may need to amend your return and/or attempt to reduce your tax liabilities for the current year. Following are some tips to keep in mind after filing your […]

Category: Business Owners