Options for Unused 529 College Savings Accounts
Section 529 plans can be a tax-smart way to save for college and other qualified education expenses. Contributions to these plans aren’t deductible for federal tax purposes, but earnings and gains accumulate federal-income-tax-free. Then you can take federal-income-tax-free withdrawals to cover qualified education expenses. What happens if a 529 account turns out to be overfunded…
GRF Invited to Join Information Technology Alliance
Recognized for the firm’s commitment to providing superior technology solutions to small and medium-size businesses and nonprofit organizations, GRF CPAs & Advisors (GRF) has joined Information Technology Alliance (ITA), a highly regarded association of top value-added resellers (VARs), public accounting firm leaders and technology product/service providers. This invitation was extended to GRF because of the high level of support and service the firm has provided businesses in their market and for their commitment to being a leader in the industry.
IPA’s 2023 List of Top U.S. Accounting Firms Ranks GRF at #118
For the eleventh consecutive year, GRF CPAs & Advisors (GRF) was honored among high-performing firms by INSIDE Public Accounting (IPA). The “who’s who” of the public accounting profession, the IPA 500 ranks the top US-based accounting firms annually based on participating firms’ net revenues. Ranking data was compiled through IPA’s analysis of its annual practice…
GRF’s Kristen Ocampo Earns CFE Credential
August 2, 2023 (Bethesda MD) — GRF CPAs & Advisors is pleased to announce that Kristen Ocampo, Risk & Advisory Services Supervisor, has been awarded the Certified Fraud Examiner (CFE) credential by the Association of Certified Fraud Examiners (ACFE). To achieve the award, Kristen met a stringent set of criteria and passed a rigorous exam…
Four Midyear 2023 Tax Planning Tips for Small Business Owners
Mid-July isn’t just for barbeques and baseball. It’s also a good time to think about ways to cut your 2023 business tax bill. Here are four planning ideas for small business owners to consider, assuming there won’t be any changes to current federal tax laws at least through 2024. 1. Establish a Tax-Favored Retirement Plan…
Six Ideas for Lowering Your Personal 2023 Taxes
Although summer is a time for vacations and relaxing in the backyard, you can’t afford to take a break from managing your tax bill. Now is a good time to think about proactive moves that could cut your 2023 tax liability. Here are six ideas for individual taxpayers to consider, assuming the current federal tax…
The Consequences of HIPAA Violations Beyond Just Penalties
Beyond just penalties, HIPAA violations can damage your reputation. Non-compliance carries significant risks and costs for organizations. Learn about the hidden costs and get tips for what you should do now in the IDC infographic. View Now
Mac Lillard Receives AICPA’s Technology Advisory Standing Ovation Award
June 12, 2023 GRF CPAs & Advisors (GRF) Senior Manager, Mac Lillard, CPA, CITP, CFE, CISA, CRISC, was honored for his significant contributions to the accounting profession at the 2023 American Institute of CPAs (AICPA) & Chartered Institute of Management Accountants (CIMA) Engage conference last week in Las Vegas. He received AICPA’s 2023 Technology Advisory…
Ins and Outs of Private Foundations
The term “501(c)(3) organization” — which refers to the Internal Revenue Code section governing not-for-profit entities — often is used interchangeably with “public charity.” But not all 501(c)(3) organizations are public charities. Some are private foundations, and they’re subject to different tax rules. Individual and Family Charity A private foundation is a 501(c)(3) organization created…
Jackie Cardello and Elinor Litwack Discuss Partner Compensation with the Journal of Accountancy
GRF President and Managing Partner, Jackie Cardello, CPA and firm partner, Elinor Litwack, CPA were featured guests on a special episode of the Journal of Accountancy Podcast.