Tax Implications of the New Lease Accounting Rules
Private businesses implemented new lease accounting rules in 2022, resulting in a major shift in how leases are reported for “book” purposes. While the tax rules for leases haven’t changed, the new accounting rules can have notable implications for how the tax rules play out. New Accounting Rules The Financial Accounting Standards Board (FASB) issues…
Richard Bell, CPA, J.D., Joins GRF CPAs & Advisors as Principal in Tax Services
August 9, 2023 (Bethesda, MD) – GRF CPAs & Advisors (GRF), an Inside Public Accounting (IPA) Top 125 Public Accounting Firm and Accounting Today Regional Leader, is pleased to announce Richard Bell has joined the firm as a principal in the tax services department. Mr. Bell has more than 18 years of experience working in…
Cybersecurity and Privacy Become Key ESG Imperatives
By Melissa Musser, CPA, CITP, CISA, Partner and Director, Risk & Advisory Services Cybersecurity and privacy issues have become prominent ESG concerns as organizations frequently manage sensitive information concerning their beneficiaries, employees, third parties, and other stakeholders. Protecting this data from cyber threats and ensuring privacy is a crucial responsibility, as stakeholders expect organizations to…
Benefits of Cloud-Based Nonprofit Accounting Software
Unlock the power of cloud-based nonprofit accounting with Sage Intacct. Streamline financial management, automate processes, and gain real-time visibility into key metrics, all while ensuring data security and cost-effectiveness.
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…
Tax Considerations of Earnouts when Buying or Selling a Business
Merger and acquisition (M&A) activity is widely expected to pick up this year, after a lull in 2022. Amid economic uncertainty, earnouts are likely to play a big role in many deals. The structuring of such transactions could have significant tax implications that affect the ultimate value for both parties. The Basics Earnout provisions generally…
Risk Management: 8 Ways to Reduce Business Insurance Costs
How much money is your business spending on insurance products? Insurance is often a major business expense, and it can be a lifesaver when the unexpected happens. However, higher spending doesn’t necessarily equate to better coverage. Rather than focusing on just the price, it’s important to match insurance products and coverage levels with your business’s…
Ryan Ham, CPA, Joins GRF CPAs & Advisors as Partner in Tax Services
July 10, 2023, Bethesda MD – GRF CPAs & Advisors (GRF), an Inside Public Accounting Top 125 Public Accounting Firm and Accounting Today Regional Leader, is pleased to announce the appointment of Ryan Ham, CPA, as a Partner in the Tax Division. With more than 18 years of experience in providing tax advisory services to…
How ERM Helps Organizations Navigate Their ESG Journey
ESG (Environmental, Social, and Governance) frameworks provide a sustainable approach to doing business. Existing ERM tools can help support these efforts.