Insights and Resources

Prepare to step into a new era of accounting, driven by artificial intelligence. This article explores how AI is revolutionizing accounting processes, from automation to predictive analytics, and how it's shifting the landscape despite the challenges it presents. Stay ahead of the curve and learn why adopting AI is a necessity for survival in modern accounting.

This article breaks down the Corporate Transparency Act (CTA), a significant step towards improving business transparency and combating illicit activities. Learn about the new BOI reporting requirements, exemptions, and penalties that could impact your business. Stay ahead of the compliance curve by understanding these crucial changes.

Is your business grappling with increasing financial complexity due to growth? This article discusses how a Fractional CFO, serving on a part-time or project basis, can help navigate your business's financial intricacies effectively and affordably. Read on to understand when to consider hiring a Fractional CFO, their benefits, and how to make the most of their services.

Whether you're a dentist seeking to expand your career or an investor looking for a profitable venture, this article illuminates the benefits and complexities of acquiring a dental practice. From understanding buy-in and buy-out options, assessing financial readiness, to devising effective post-acquisition strategies, it provides a comprehensive guide to achieving long-term success. Learn how to navigate the acquisition process and leverage an existing setup for immediate growth and steady income.

Plan for your retirement while strategically reducing your tax obligations with the help of tax-deferred retirement plans. Discover the benefits of SEP-IRAs, SIMPLE IRAs, and Solo 401(k)s, as well as how timing and depreciation can affect your business income. Find out how to secure your financial future and maximize tax efficiency for your business.

The accounting profession is undergoing dramatic changes with a decline in interest and qualified professionals; "Revolutionizing Employee Retention in the Accounting Profession" delves into these challenges. The article emphasizes the importance of creating a conducive work environment, implementing a scalable talent model, and leveraging technology in training. It highlights the need for firms to adapt their strategies to meet the changing needs of their workforce.

The IRS is making significant strides in processing Employee Retention Credits. Gain a deeper understanding of these recent updates and their implications for your business. Stay ahead of the curve by reading our latest article.

A new era of transparency is upon US businesses as the Financial Crimes Enforcement Network (FinCEN) implements the Corporate Transparency Act (CTA) requiring certain companies to report beneficial ownership information. This ground-breaking move is targeted at dismantling opaque corporate structures which often facilitate illicit activities. Read on to understand the reporting requirements, exemptions, and timelines.

Beneficial Ownership Information reports are now mandatory for certain businesses in the U.S., a move spearheaded by FinCEN to curb financial crimes. This initiative, part of the 2021 Corporate Transparency Act, seeks to eliminate the veil of corporate secrecy often exploited by illicit actors. Learn about the reporting deadlines, exemptions, and resources available to aid businesses in this transition.

With the rise of legal sports betting and online gambling, it's crucial to understand the IRS reporting requirements associated with your winnings. Discover the thresholds for different types of gambling and how to report your earnings accurately. Learn how to avoid potential penalties and comply with IRS regulations.