Insights

Understanding how charitable remainder trusts affect your cash flow, income taxes, and long-term financial planning. Key takeaway: Choosing between a standard charitable remainder unitrust (CRUT) and a net income with makeup charitable remainder unitrust (NIMCRUT) can affect how much income you receive, when you receive it, and how your distributions are taxed. If you own highly appreciated assets, a charitable

A practical look at how AI can make outsourced accounting faster, more insightful, and more valuable to management  Artificial intelligence is changing the accounting profession, but the biggest opportunity is not simply automating bookkeeping.  The greater opportunity is combining AI with outsourced accounting professionals to produce faster financial information, stronger analysis, better documentation, and more useful insight for management.  For

Changing banks can create meaningful benefits for a small or medium-sized organization. A new banking relationship may offer better technology, improved customer service, lower fees, stronger fraud controls, greater borrowing capacity, or products that better support the organization’s growth. However, switching banks is rarely as simple as opening a new account and transferring the cash. Bank accounts are often connected

Automatic Penalty Relief is a new IRS initiative designed to reward taxpayers with a strong compliance history. Rather than requiring eligible taxpayers to request penalty relief after receiving a notice, the IRS intends to apply qualifying relief automatically for certain penalties. The program is expected to reduce reliance on the long-standing First Time Abate (FTA) process for many taxpayers. The

When a client of ours began working with our outsourced accounting team, the organization was dealing with a significant accounting cleanup issue. Their point-of-sale system, Zenoti, had not been properly mapped into QuickBooks Online, which caused a substantial amount of duplicated activity, particularly duplicated revenue. Management knew there was a problem, but the accounting records were not reliable enough to

Retirement planning involves more than investments. Learn how tax planning, Roth conversions, RMD management, estate planning, beneficiary strategies, and legacy planning can work together to provide greater flexibility and more choices for your future.