Category: Business Owners

Business Owners

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: […]

Ransomware Attacks Continue to Rise Among Small and Mid-Size Businesses by Brandon Bowers

Posted on June 04, 2024 by Brandon Bowers

According to the latest industry reports, ransomware attacks surged in 2023, accounting for nearly one-quarter of all data breaches and costing businesses worldwide an average of $5.13 million.[1] More alarming still, businesses’ security teams detected only 33 percent of all ransomware breaches, whereas 27 percent were disclosed by the attackers, and 40 percent were uncovered […]

Protect Yourself and Your Business from Wire Fraud by Brandon Bowers

Posted on May 24, 2024 by Brandon Bowers

Wire payments continue to be one the quickest and easiest methods for individuals to send large amounts of money to others anywhere in the world. However, these electronic transfers made through banks or third-party service providers like Western Union can be rife with fraud and legal risks for the parties involved. Some of the most […]

IRS Makes changes to EO Determination Letters for 501(c)(3)s by Adam Cohen, CPA

Posted on May 14, 2024 by Adam Cohen

Earlier this year, the IRS introduced Rev. Proc. 2024-5, which requires public charities organized as 501(c)(3)s to follow new procedures when requesting IRS reclassification as a different tax-exempt entity. Nonprofit entities seeking tax-exempt status generally must file Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, within 27 months […]

Benefits of Working with Recruiting Specialists to Fill Finance, Accounting Positions by Mari Luque-Hanchett

Posted on April 30, 2024 by Joseph Saka

Businesses spend significant time and resources recruiting and hiring professionals for accounting and finance positions. In the current job market, the entire process can take more than six months. To reduce these burdens and enable your company’s executives to focus their efforts on growing your business, consider working with a third-party recruiting firm specializing in […]