How will the One, Big, Beautiful Bill Act affect individual taxpayers?
July 31, 2025 Knowledge Center
How will the One, Big, Beautiful Bill Act affect individual taxpayers?

The One, Big, Beautiful Bill Act (OBBBA) includes, among many other things, numerous provisions that can affect an individual’s taxes. The new law makes some changes to existing tax breaks that will be significant to many, but not all, taxpayers. It also creates new breaks that, again, will be significant to certain taxpayers. Finally, it […]

New deductions for tips, overtime may affect employer information reporting
July 24, 2025 Knowledge Center
New deductions for tips, overtime may affect employer information reporting

When the One, Big, Beautiful Bill Act (OBBBA) was signed into law on July 4, employers were handed a considerable task. You and your leadership team must sort through the law’s many provisions and determine just how they affect your organization. As you may be discovering, doing so isn’t easy. For example, the OBBBA grants eligible […]

When moving out of state, review your estate plan
July 22, 2025 Knowledge Center
When moving out of state, review your estate plan

There are numerous factors to consider when you decide to pull up roots and relocate to another state. Your estate plan likely isn’t top of mind, but it’s wise to review and update it when you move across state lines. Let’s take a closer look at a few areas you should consider as you reexamine […]

How to prepay expenses strategically and report them accurately
July 16, 2025 Knowledge Center
How to prepay expenses strategically and report them accurately

In accrual-basis accounting, timing is everything. One core principle of U.S. Generally Accepted Accounting Principles (GAAP) is the matching concept, which requires organizations to recognize expenses in the same period as the revenue they help generate. Prepaid expenses — payments made for goods or services before they’re used — must be handled carefully to conform […]

Businesses can strengthen their financial positions with careful AP management
July 12, 2025 Knowledge Center
Businesses can strengthen their financial positions with careful AP management

Running a successful business calls for constantly balancing the revenue you have coming in with the money you must pay out to remain operational and grow. Regarding that second part, careful accounts payable (AP) management is critical to strengthening your company’s financial position. Proper AP management enables you to maintain strong relationships with vendors, suppliers […]

President Trump signs his One, Big, Beautiful Bill Act into law
July 8, 2025 Knowledge Center
President Trump signs his One, Big, Beautiful Bill Act into law

On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). As promised, the tax portion of the 870-page bill extends many of the provisions of the Tax Cuts and Jobs Act (TCJA), the sweeping tax legislation enacted during the first Trump administration. It also incorporates […]

Why Your Health Therapy Clinic Can’t Afford to Ignore Cyber Risks
June 28, 2025 Knowledge Center
Why Your Health Therapy Clinic Can’t Afford to Ignore Cyber Risks

Protecting patient data is critical for all healthcare providers, including small and mid-sized outpatient physical and occupational therapy clinics. Yet many of these mid-market businesses mistakenly believe they’re “too small to be noticed.” In reality they’re exactly the kind of target cybercriminals prefer—handling highly sensitive health and billing data, often with limited cybersecurity resources in […]

Tax breaks in 2025 and how The One, Big, Beautiful Bill could change them
June 16, 2025 Knowledge Center
Tax breaks in 2025 and how The One, Big, Beautiful Bill could change them

The U.S. House of Representatives passed The One, Big, Beautiful Bill Act on May 22, 2025, introducing possible significant changes to individual tax provisions. While the bill is now being considered by the Senate, it’s important to understand how the proposals could alter key tax breaks. Curious about how the bill might affect you? Here are seven current tax […]

Is your construction business built on fraud?
June 12, 2025 Knowledge Center
Is your construction business built on fraud?

It’s the height of the construction season in most parts of the country and your business probably wants to make the most of it. But rising costs, worker shortages, international tariffs and other pressures may threaten the profitability of your enterprise. The last thing you need is fraud. According to the Association of Certified Fraud […]

The House passes The One, Big, Beautiful Bill Act: An overview of its tax provisions
June 2, 2025 Knowledge Center
The House passes The One, Big, Beautiful Bill Act: An overview of its tax provisions

The U.S. House of Representatives passed its sweeping tax and spending bill, dubbed The One, Big, Beautiful Bill Act (OBBBA), by a vote of 215 to 214. The bill includes extensions of many provisions of the Tax Cuts and Jobs Act (TCJA) that are set to expire on December 31. It also includes some new and […]

Old invoices, new rules: Tap into the power of the AR aging report
May 25, 2025 Knowledge Center
Old invoices, new rules: Tap into the power of the AR aging report

For many businesses, accounts receivable (AR) are more than just a line item on the balance sheet. This account provides a key indicator of potential cash flow, customer relationships and overall financial health. So proactive AR management is critical. The AR aging report has long been a cornerstone of expediting collections and reducing credit risk, but it’s taken on greater […]

The tax rules for legal awards and settlements: What recipients should know
May 18, 2025 Knowledge Center
The tax rules for legal awards and settlements: What recipients should know

If you’ve recently received a settlement or award from a lawsuit, or you’re expecting one, you may be wondering how the IRS views this money. Will you need to pay taxes on it? The short answer: It depends on the type of damages you received. Understanding the basic rules can help you avoid surprises. Taxable vs. nontaxable […]