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Strategies to Reduce Your 2024 Tax Liability
Why pay more taxes than you have to? We highly recommend tax planning now to reduce your 2024 tax liability and help minimize surprises come April. Here are a few tax tips to consider before the end of 2024. 1. Review your investment portfolio. Since capital loss carryforwards do not expire, you could use any…
Quick Tips for Your 2024 Year-End Business Review
As we head toward the close of the year, the business tax landscape is beginning to come into focus. We won’t know what tax law changes might be in effect until well into the new year. Regardless of the political climate, however, we recommend common sense tax planning considerations you should undertake now as part…
Protect Your Business: Cyber Risks from Physical Theft
Locking the doors is not enough to protect your business from theft. Today, companies face both physical and cyber risks, and it’s critical to understand how they’re connected. Cyber Risks from a Physical Theft Connected devices pose a double threat to your company’s security. If a thief breaks into one of your employee’s cars and…
Planning For an Inheritance
If you’re in line to receive an inheritance, your feelings may range from exhilaration for the windfall to grief for the loved one who has passed. A large infusion of cash or assets can be overwhelming. Generally, when planning for an inheritance, there’s no need to act quickly. Take some time to reflect on the…
Alternatives to Financial Statement Audits
By Steven Lyons, CPA, Assurance Senior Manager and Kari Hipsak, CPA, Senior Manager of Quality Management While financial statement audits are mandatory for many organizations, a review or compilation may meet the needs of some. Understanding the differences between an audit, review, and compilation can help your organization select the best engagement to meet your…
Working a Family Business into Your Estate Plan
If you own a family business, it’s probably one of your most significant personal assets. It’s important to take the proper estate planning steps to ensure that the business lives on after you’re gone — if you don’t, you may be placing your family at risk. Ownership vs. Management Succession One reason transferring a family…
Budgeting and Planning for 2025: Challenge Accepted!
Generated by AI and edited by Heather Broberg, Senior Manager, Accounting Technology Solutions Budgeting and forecasting are critical components of financial planning for any organization, yet they often pose significant difficulties. These processes are essential for setting financial goals, allocating resources efficiently, and making informed strategic decisions. However, the complexities involved can make budgeting and…
2024 Update on Retirement Plans: Cyber Best Practices
Cybersecurity remains a crucial concern for retirement plan administrators and sponsors. Ensuring the security of sensitive data and maintaining compliance with regulatory requirements is essential to protect plan participants and maintain trust. GRF hosted a 2024 Update on Retirement Plans webinar on May 16th, 2024, which outlined key cybersecurity best practices recommended by the Department…
2024 Update on Retirement Plans: Impact of SECURE Act 2.0
The SECURE Act 2.0 is transforming retirement planning by encouraging savings, enhancing retirement plan rules, and reducing employer costs. GRF hosted the 2024 Update on Retirement Plans on May 16th, 2024, where we explored the significant changes introduced by the SECURE Act 2.0. The session provided a comprehensive overview of the new provisions aimed at…
2024 Update on Retirement Plans: Recent Changes to Form 5500
Navigating the complexities of retirement plan reporting just got easier with the latest updates to Form 5500. These transformative changes promise to streamline processes, enhance data accuracy, and significantly reduce administrative burdens for plan administrators and sponsors. GRF hosted the 2024 Update on Retirement Plans webinar on May 16th, 2024, which delved into significant changes…