GRF Financial Foresight

Insights from the team on the GRF blog

Child Tax Credit Changes: Weigh the Benefits vs. Impact on Your Tax Liability

In March 2021, Congress enacted emergency legislation known as the American Rescue Plan Act (ARPA) to help individual taxpayers and small businesses weather the ongoing economic effects of the COVID-19 pandemic. Of the many noteworthy provisions included in the ARPA, perhaps no provision holds more significance to taxpayers with dependent children than the modifications made…

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Update on Q3 and Q4 Tax Deadlines

With the first two quarters of the year behind us, filers should focus on a number of Q3 and Q4 tax deadlines. The lists below include important tax due dates for individuals, certain payroll tax due dates for employees and employers, and other key due dates for for-profit entities. While not all-inclusive, these are some…

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Building a Business Case for AP Automation

Every year, North American businesses spend in the neighborhood of $187 billion on accounts payable (AP) processing. But innovative financial management tools are on the rise, and they come with lower costs and bigger payoffs. Top-performing companies are adopting solutions such as accounts payable automation (AP automation) to streamline payment processes while increasing efficiency and decision making for…

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The Top 5 Obstacles Slowing Down Your Close

It’s 8 p.m. and your finance team is scrambling to close the books. They skipped dinner yet again to work on another round of last-minute reconciliations so they can tie out the balance sheet numbers. Closing the books at the end of a financial period is an uphill battle for almost everyone. But knowing what…

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Going Paperless: 7 Ways to Automate Your Nonprofit’s Finance Department

Paperless automation delivers many important benefits to nonprofit finance teams, from real-time financial visibility to increased efficiency to more accurate forecasting and planning. Cloud financial management systems enable multiple users to view and collaborate on data from anywhere, at any time. Financial automation can transform nonprofits from reactive and slow-to-adapt organizations into proactive, future-ready, and…

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Getting Started with Enterprise Risk Management, A Guide for Nonprofits