Planning an Event? Don’t Overlook Sponsorship Opportunities
When it comes to nonprofit events, success can be measured in many ways. However, for most nonprofit leaders, financial success—specifically how much money was raised—is the ultimate goal. To achieve financial success, securing sponsorships from companies and individuals to help offset event costs is essential. Make sponsorships a central focus of your event planning strategy. […]
Super-Catch-Up Contributions Under SECURE 2.0: Key Changes for 2025 and What Employers Need to Know
Starting in 2025, the SECURE 2.0 Act introduces a new opportunity for eligible participants aged 60 to 63 to make *super-catch-up contributions* to their retirement plans. These contributions can be up to the greater of $10,000 or 150% of the regular catch-up contribution limit, allowing workers to save more for retirement as they approach their […]
Preparing for 2025: How Outsourced CFO Services Can Help Your Business Thrive Amid Change
As we enter 2025, CFOs face a rapidly evolving business environment with high stakes. Rising interest rates, ongoing political uncertainties, and global economic shifts present new challenges. With these factors, many organizations are reassessing their investment strategies. A recent survey showed that 84% of CFOs are delaying investment decisions due to unpredictability in the market. […]
Student Loan Reimbursement Program: Financial Relief for Connecticut Residents
Mark Your Calendar: Applications Open January 1, 2025 Starting January 1, 2025, Connecticut residents with student loan debt can apply for financial relief through the new Student Loan Reimbursement Program (SLRP), administered by the Office of Higher Education. This $6 million program, approved by the General Assembly in 2024, offers eligible applicants up to $5,000 […]
Nationwide injunction halts BOI filing requirements—here’s what it means for your business.
December 16, 2024 – Accavallo & Company LLC Businesses across the United States received a major update regarding the Beneficial Ownership Information (BOI) filing requirements under the Corporate Transparency Act (CTA). A federal district court has issued a nationwide injunction halting the enforcement of these requirements, citing constitutional concerns. What Does This Mean for Businesses? […]
Safeguarding Your Small Business: Essential Steps to Mitigate Cybersecurity Risks
In today’s digital landscape, small businesses face a myriad of cybersecurity threats that can wreak havoc on their operations, finances, and reputation. From ransomware attacks to phishing scams, the risks are ever-present and evolving. Therefore, it’s imperative for small business owners to prioritize cybersecurity measures to safeguard their valuable assets and sensitive data. Let’s delve […]
Business Website Expenses: How They’re Handled for Tax Purposes
With most businesses having a website today, it’s important to understand how these costs are treated for tax purposes. While the IRS hasn’t issued specific guidance on website expenses, there are general tax rules that can help guide the treatment of these costs, including considerations for software and hardware expenses. Tax Treatment of Hardware Website-related […]
Restricted Gifts: What to Do When Strings Are Attached
Brad, the development director of an international environmental charity, was excited to hear that a past supporter was pledging a new, six-figure donation. But there was a catch: the donor wanted to restrict how and where her donation was used. While Brad welcomed the donation, he knew that restricted gifts come with specific responsibilities. If […]
Understanding Your Obligations: Does Your Business Need to Report Employee Health Coverage?
Providing health coverage is a valuable part of employee benefits, yet the administrative responsibilities tied to offering insurance can be challenging to navigate. A key part of compliance is understanding the reporting obligations for federal agencies, such as the IRS. Here’s what you need to know to determine if your business must comply and what […]
Tax Planning Considerations in Light of the 2024 Election: What You Need to Know as a Taxpayer
With Donald Trump poised to return to the White House next January, tax planning will be a top priority as his administration looks to fulfill campaign promises related to tax reform. One of the most pressing issues will be the expiration of key provisions from the 2017 Tax Cuts and Jobs Act (TCJA). This law […]
