Financial statements tell a powerful story about your business. However, they can seem like an overwhelming collection of figures without proper analysis. Financial benchmarking studies can help you identify historical trends, pinpoint areas for improvement and forecast futu...

The IRS released 3 new FAQ on March 20th 2025 that address some of the problems that arise with income taxes and ERC. These are looooong overdue, but they do provide some answers if you are inclined to take the FAQ from the IRS and act upon them. FAQ have been a big part of ...

On this episode Chris Wittich, MBT, CPA, Partner — Boyum Barenscheer, discusses the latest updates on the Employee Retention Credit (ERC) as the five-year anniversary of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, approaches. He emphasizes...

In addition to widespread federal funding cuts, many not-for-profit leaders are concerned about a possible economic downturn. If you’re a on the board of directors for an organization whose finances aren’t in good shape, its ability to fund critical programs — or even ...

The Treasury Department is announcing today that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will furt...

Subsequent events are in the spotlight these days. The audit guidance hasn’t kept pace with changes in financial reporting frameworks, risk assessment methodologies and technological advancements. This has resulted in inconsistencies in how companies account for post-balan...

About a month ago we discussed the Tariffs that were going to arrive in 30 days. Here we are 30 days later and there was no change in the policy so the tariffs have been enacted.  What is new is that the US has order an increase in the Chinese tariffs and now retaliatory ta...

Understanding the difference between profits and cash flow is essential for business owners. A company can be profitable yet experience cash shortages, especially during growth periods. Profits reflect revenue minus expenses, while cash flow tracks actual money movement. Tim...

For manufacturers, knowing which products are profitable is essential for strategic decision-making and long-term success. While total revenue can provide a sense of overall product performance, profitability analysis can deliver a clearer picture of which products contribut...

If you are a Florida homeowner that has experienced extensive damage to your home due to a catastrophic event, you made be entitled to property tax relief....

FinCEN has confirmed that mandatory beneficial ownership reporting (BOI) requirements are back in effect, with a new deadline of March 21, 2025, which must be met to avoid penalties of $591/per day for companies....

Financial forecasting provides a roadmap to guide your organization on the path to success. Forecasts support strategic planning by helping you allocate resources efficiently, manage risks effectively and optimize capital investments. However, today’s dynamic marketplace i...