AI Is Here—But So Are We: Evolving Accountancy to Better Serve Clients
AI Is Here—But So Are We: Evolving Accountancy to Better Serve Clients The accounting profession is undergoing a dramatic transformation. Artificial intelligence (AI) is now capable of automating a wide range of tasks that once required hours of human input—data entry, invoice matching, bank reconciliations, and even basic reporting. These changes are prompting many to […]
Q1 2025 Retail & Consumer Outlook: Opportunities Amid Revenue Slowdowns
As Q1 2025 unfolds, the retail and consumer goods sectors are facing complex challenges driven by economic pressures and evolving consumer behavior. For companies experiencing revenue headwinds, adapting to key trends can unlock new revenue streams, strengthen customer loyalty, and optimize channel strategy. This report highlights three critical trends and offers actionable strategies for businesses […]
Connecticut Cracks Down on Sales Tax Compliance: Key Updates for Businesses
Connecticut Sales Tax Enforcement Is Heating Up—Here’s What You Need to Know If you are selling goods or taxable services in Connecticut—or even into Connecticut—you may have noticed a sharp uptick in audit activity lately. From questionnaires to full-blown audits, the state is cracking down on businesses that have not been collecting and remitting sales […]
Making the Most of Your Tax Refund: 4 Smart Financial Moves That Pay Off
For many individuals and families, tax season ends with a financial boost in the form of a refund. While it’s tempting to treat that extra money as a reason to splurge, your tax refund can be much more than a short-term reward. When used strategically, it can be a powerful tool to improve your financial […]
Seven Lessons You Can Learn from Your Tax Return
Your Tax Return: A Powerful Financial Tool Your tax return isn’t just a yearly obligation—it’s a powerful tool for understanding and improving your financial picture. Here are seven valuable lessons your tax return can teach you: 1. Keep Good Records for Itemizing Your Deductions Did you take the standard deduction last year just because it […]
Republican SALT Caucus Pushes Back on Cap Proposals Ahead of 2025 Expiration
ACO News: Republican SALT Caucus Debates Raising the SALT Cap Background: The SALT cap (state and local tax deduction limit) is currently $10,000, set by the 2017 Tax Cuts and Jobs Act (TCJA). This cap expires at the end of 2025. Some Republicans, especially from high-tax states like New York and California, want to raise […]
New FinCEN Rule Eliminates BOI Reporting for U.S. Entities
The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule that removes the obligation for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA). On February 27, FinCEN announced its intent to release an interim final rule by March 21, 2025, to extend filing deadlines […]
Why You Shouldn’t Self-Prepare Probate Forms: The Importance of Professional Estate and Tax Guidance
When someone passes away, the estate they leave behind must be administered through a legal process known as probate. While probate may seem straightforward, it involves a range of complex legal and tax-related issues that can significantly impact the value of the estate and the beneficiaries. One common mistake that many people make is attempting […]
Navigating Down Rounds: Challenges, Alternatives, and Best Practices
In the last two years, many startups have faced difficulties, especially when they needed more funding despite not being profitable or struggling with uncertain future prospects. In fact, the number of startups shutting down increased significantly from 467 in 2022 to 770 in 2023. Several challenges have caused this trend, including fewer seed investments and […]
Key Tax Changes for 2025: What You Need to Know
The IRS has released the inflation-adjusted tax brackets, deductions, and contribution limits for 2025. These changes will impact tax planning for the upcoming year—but remember, they do not affect your 2024 tax return. Standard Deduction Increases for 2025 Taxpayers will see a bump in the standard deduction, reducing taxable income: Married Filing Jointly: $30,000 Single […]
