Greenwood Ohlund, PS (GO), aims to change the field of accounting by providing traditional CPA services in innovative ways. This five-partner firm, situated just north of downtown Seattle, boasts a team of approximately 35 professionals who operate from remote home offices across the country. Established in 1971 by Dick Greenwood, the firm has remained relevant for 52 years by adapting
Estate and gift planning doesn’t have to feel daunting. Think of it as shaping your financial legacy with purpose—and taking advantage of valuable tax opportunities along the way. Below are the key updates for 2025, along with what you should prepare for as we approach 2026. Annual Gift Tax Exclusion One of the easiest ways to transfer wealth tax-efficiently is
E-filing of W2s and 1099s Taxpayers must e-file W-2s and 1099s if they are filing more than 10 forms total. Penalties apply to any paper filed forms in excess of 10. Plan ahead and obtain W-9 information from your service providers well ahead of the January 31 deadline. Standard mileage rates Beginning on 1/1/2025, the standard mileage rates for the
Year-end is an ideal time to take stock of your financial picture and prepare for the tax law changes that have resulted from the One Big Beautiful Bill (OBBBA). Proactive planning now can help you preserve deductions, avoid surprises, and position yourself for 2026 and beyond. 1. Share Major Life or Financial Changes Keeping us informed ensures your tax and
We’ve seen it time and time again: a nonprofit suddenly learns their biggest funder now requires audited financial statements—and they have just six weeks to deliver. The panic is real. ‘Our books are a mess,’ they admit. ‘We don’t even know where to start, and we’re terrified of what the auditors will find.’ Sound familiar? The truth is, being audit-ready
I’ll let you in on a secret that took me years to learn: measuring if your business is truly profitable isn’t just about counting the money in your bank account at month’s end. Real profitability analysis goes much deeper than that surface-level check. Here’s what I see happen all the time. Business owners get excited because they’re bringing in revenue.
Your bookkeeping system should be the backbone that supports your organization’s growth, not the bottleneck that prevents it. Yet too many nonprofits and small businesses find themselves wrestling with financial chaos instead of focusing on their core mission. We’ve seen firsthand how poor bookkeeping practices can silently sabotage even the most well-intentioned organizations. The good news? These problems are entirely