blog
March 6, 2025
Beneficial Ownership Information | March Update

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...

March 4, 2025
FAQs About Reporting Subsequent Events

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...

March 4, 2025
Understanding the New Tariffs | What We Know

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...

February 28, 2025
Profits vs. Cash Flow: Understanding the Key Differences for Business Success

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...

February 26, 2025
Make Smarter, Data-Driven Decisions After Determining Your Products’ Profitability

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...

February 25, 2025
Florida Property Tax Relief Available for Catastrophic Event Property Damage

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....

February 21, 2025
Beneficial Ownership Information (BOI) Reporting Back in Effect: New Compliance Deadlines Announced

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....

February 21, 2025
How to Forecast Smarter

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...

February 18, 2025
The Importance of Audits for Factoring Companies

For factoring companies, ensuring the accuracy and reliability of financial statements is crucial. An independent audit, conducted by a certified public accountant, provides a comprehensive examination of a company’s financial position. This process not only builds trust w...

February 10, 2025
Understanding the New 1099-K Reporting Requirements: What Business Owners Need to Know

As tax season approaches, business owners need to be aware of the changes to Form 1099-K reporting requirements and how they may impact their tax returns. The IRS has implemented new rules to ensure better compliance and transparency for income received through third-party p...

February 7, 2025
Celebrating 50 Years of Boyum Barenscheer: A Legacy of Growth, Service, and Community

This year marks a momentous milestone for Boyum Barenscheer—our 50th anniversary! For half a century, we have been honored to serve our clients, support our community, and foster a workplace where talented professionals thrive. As we celebrate this incredible journey, we r...

February 5, 2025
Preparing for a Financial Crisis? Build Up Operating Reserves

You never know when your not-for-profit might experience a financial blow. With the current efforts in Washington to slash expenses, some nonprofits have already lost federal funding and more may lose it in the near future. But that’s not the only risk. A significant grant...