Insights

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.

A recent federal court case, Kwong v. United States, may create a refund opportunity for taxpayers who incurred certain IRS penalties or interest during the COVID-19 pandemic period.  What Is the Kwong Case?  In Kwong v. United States, the U.S. Court of Federal Claims held that federal tax deadlines may have been automatically postponed during the COVID-19 federal disaster period — from

Tax season has a way of exposing everything that did not happen during the rest of the year. Books that were “close enough” suddenly are not. Account reconciliations that got pushed to next month now matter. Missing documentation becomes urgent. Owners and leadership teams are pulled into last-minute questions, and internal teams often find themselves spending more time reacting than

Economic uncertainty tends to force businesses into a more disciplined way of operating. During periods of recession or slowdown, strong organizations do not simply react to pressure as it comes. They take a step back, assess risk clearly, and make deliberate decisions that protect liquidity, preserve flexibility, and position the business to emerge stronger on the other side. At Greenwood