Latest Updates and Insights from Greenwood Ohlund

Best Places to Work

Business of the Year Award 2023:

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

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Insights

Graphic summarizing common TikTok tax myths and correct IRS rules, created by Greenwood Ohlund.

Don’t Let TikTok Do Your Taxes

Social media is full of quick tax tips, but many of them leave out important rules. Following incorrect advice can lead to penalties, back taxes, or audits. Here are 10 common social media tax claims and the truths behind the ideas. 1. “Write Off Everything If You Have an LLC” Truth: Having an LLC can open the door to valuable

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Navigating International Information Reporting Requirements for U.S. Taxpayers

Why This Matters As a U.S. taxpayer whether you’re a U.S. citizen, a permanent resident (green card holder), or someone who meets the substantial presence test, you may have international reporting obligations. These apply even if you’re living abroad, planning a move overseas, or holding foreign accounts or investments. Here’s the key point: these rules still apply even if you

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year end accounting checklist

Dreading Year End Accounting Close? Let Greenwood Ohlund Take the Stress Off Your Plate

As the calendar year comes to a close, many finance and leadership teams face the same annual challenge: closing the books accurately, on time, and with confidence. But when your internal accounting staff is already stretched thin or behind on monthly reconciliations, the year end accounting process can quickly become overwhelming. If you’re already behind now, year-end won’t fix itself

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Resources

Why Small Businesses Need an AI Strategy Before They Need a Loan

Why Small Businesses Need an AI Strategy Before They Need a Loan

For many small businesses, artificial intelligence still feels like something that belongs in the future or in larger, more technology-driven organizations. But that perception is changing quickly. Increasingly, lenders are not just evaluating historical financial performance — they are also looking at whether a business is prepared for the operational and competitive changes that AI may bring. That shift reflects

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consulting services in accounting

How Consulting Services In Accounting Can Boost Your Financial Strategy

Running a business means making decisions every day that affect your future. Some choices are simple, but others depend heavily on the quality of your financial information. That is where consulting services in accounting become an essential support system for organizations that want steady growth, fewer surprises, and a clearer direction. If you have ever looked at your reports and

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AI in accounting

AI Accountant vs Human CPA: Can AI Replace Your Accountant?

Here’s a question we hear constantly: “Do you think AI will replace accountants?” It’s showing up in our inbox. In consultation calls. In conversations with nonprofit leaders and business owners who are trying to figure out their next move. They’re reading about AI accountant tools that promise to automate bookkeeping, generate reports instantly, and flag financial anomalies before they become

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