In the nonprofit world, you’ve likely heard terms like donation, promise to give, and contribution used interchangeably. But each term has a specific meaning—and understanding the differences is critical for accurate financial reporting and compliance.
If your approach to taxes starts and ends in the first quarter of the year, you may be missing out on significant opportunities to reduce your tax bill, improve your cash flow, and make smarter financial decisions.
Cash is king—especially in today’s unpredictable economy. Yet many business owners are flying blind when it comes to cash flow.
Running a business involves juggling countless responsibilities, but managing financial operations doesn’t have to be one of them. By working with a Client Accounting and Advisory Services (CAAS) professional, you can streamline your financial processes while providing actionable insights to improve decision-making. CAAS can revolutionize your business operations, through:
On May 22, 2025, the U.S. House of Representatives narrowly passed a comprehensive tax and spending bill, often referred to as the "One Big Beautiful Bill Act." This legislation encompasses significant tax reforms and spending measures. The bill now advances to the Senate, where it faces potential revisions and debates.
With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to earn some extra money, why not put them on the payroll? This move can help you save on family income and payroll taxes, making it a win-win situation for everyone!
Understanding and tracking the right KPIs is crucial for business success. With the help of a Client Accounting & Advisory Services (CAAS) professional, business owners can monitor these metrics seamlessly and identify areas for improvement.
As we reach the midpoint of the year, now is the perfect time for business owners to take a close look at their budget vs. actual performance. Monitoring this comparison isn’t just a box to check—it’s a critical step in making informed financial decisions, adjusting course where needed, and strengthening your forecasting for the remainder of the year.
The IRS recently released the 2026 inflation-adjusted amounts for Health Savings Accounts (HSAs). Employees will be able to save a modest amount more in their HSAs next year.
When it comes to employment and taxes, the distinction between a 1099 independent contractor and a W-2 employee is crucial. Each classification carries different tax responsibilities, benefits, and potential drawbacks. Understanding the implications can help you make informed financial decisions, whether you’re a worker choosing between roles or a business deciding how to classify your workforce.
