The term "mom-and-pop shop" might conjure up images of cozy storefronts and familiar faces, but the impact of these small businesses goes beyond nostalgia. In the United States, they make up a staggering 99.9% of all businesses, embodying the essence of passion,...
The retirement plan industry holds over $37 trillion in total participant retirement accounts. Yet, the industry as a whole lacks a comprehensive system of cybersecurity laws and regulations to protect those assets. The Department of Labor (DOL) has issued guidance...
The holidays are rapidly approaching, and the holiday season is big business for retailers! Americans spent over $936 billion during the 2022 holiday season according to the National Retail Federation (NRF) which is impressive considering that it occurred amid...
The Holiday shopping season is here, and retailers will soon be navigating the annual Black Friday and Cyber Monday events. Stores will welcome thousands of visitors, most of which will be there to legitimately shop. However, there will most likely be a few bad actors...
In the highly competitive restaurant industry, finding ways to increase revenue and profitability is a top priority for restaurant owners and managers. One effective approach is to focus on increasing the average check size, which refers to the amount of money spent...
A Form 990 is the nonprofit tax form that details an organization’s activities and financial standing. This form not only justifies an organization’s tax-exempt status, but also reveals key information that charity-rating organizations and grant makers use when...
The SECURE Act 2.0 has brought about many significant changes to the retirement plan landscape in recent months. Several of these changes affected the 2023 tax year, with more set to become effective January 1, 2024. Amongst the 2024 changes are several provisions...
When operating a manufacturing business, there are several taxes at the federal, state, and local level that must be considered. Depending upon “what” you’re selling and “where” you’re selling, some manufacturers may be subject to a wider variety of taxes whereas...
Our firm works with various manufacturers but, no matter what industry you’re in, there are common issues that most will navigate when certain economic facts and circumstances present themselves. Whether it be a recession, a loss of a key supplier/customer, or a...
The SECURE Act 2.0 was passed into law on December 29, 2022 as part of the Consolidated Appropriations Act. The SECURE Act 2.0 contains many tax changes affecting business and individual taxpayers. This article will provide updates concerning the changes made to the...