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.
Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may disallow certain deductions or reclassify payments, potentially leading to penalties, back taxes and interest. But by proactively following certain steps, owners can help ensure their compensation is seen as reasonable and deductible.
Sales tax compliance continues to evolve, with new rules and regulations emerging at both the state and federal levels. Businesses selling across multiple states—whether through e-commerce or brick-and-mortar locations—must stay ahead of changing requirements to avoid penalties and costly audits.
Non-profit organizations operate with a mission-driven focus, but like for-profit businesses, they must track key performance indicators (KPIs) to ensure financial sustainability, operational efficiency, and mission impact. The right metrics can help leadership make informed decisions, attract donors, and improve program effectiveness. Below, we explore the most critical analytics and KPIs that every non-profit should focus on.
There has been , yet again, another significant update regarding Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule that removes the requirement for U.S. companies and U.S. persons to report BOI to FinCEN.
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and even legal consequences. Below are six quick tips to help you stay on track.
If an individual taxpayer has substantial business losses, unfavorable federal income tax rules can potentially come into play. Here’s what you need to know as you assess your 2024 tax situation.
