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…
The Consequences of HIPAA Violations Beyond Just Penalties
Beyond just penalties, HIPAA violations can damage your reputation. Non-compliance carries significant risks and costs for organizations. Learn about the hidden costs and get tips for what you should do now in the IDC infographic. View Now
Mac Lillard Receives AICPA’s Technology Advisory Standing Ovation Award
June 12, 2023 GRF CPAs & Advisors (GRF) Senior Manager, Mac Lillard, CPA, CITP, CFE, CISA, CRISC, was honored for his significant contributions to the accounting profession at the 2023 American Institute of CPAs (AICPA) & Chartered Institute of Management Accountants (CIMA) Engage conference last week in Las Vegas. He received AICPA’s 2023 Technology Advisory…
Ins and Outs of Private Foundations
The term “501(c)(3) organization” — which refers to the Internal Revenue Code section governing not-for-profit entities — often is used interchangeably with “public charity.” But not all 501(c)(3) organizations are public charities. Some are private foundations, and they’re subject to different tax rules. Individual and Family Charity A private foundation is a 501(c)(3) organization created…
Jackie Cardello and Elinor Litwack Discuss Partner Compensation with the Journal of Accountancy
GRF President and Managing Partner, Jackie Cardello, CPA and firm partner, Elinor Litwack, CPA were featured guests on a special episode of the Journal of Accountancy Podcast.
Consider Possible Accounting Implications Before Creating a Joint Venture
By Susanna Chon, Senior Manager In the government contracting world, it is very common for two or more companies to create a joint venture for the purpose of bidding on federal government contracts. What many business owners may not consider are the accounting implications that entering into a joint venture agreement may bring. Typically, the…
Aligning Business Continuity Planning with Third Party Risk Management
Does your organization know all the third-party vendors who access and manage data on your behalf? In the event of a disaster, any gaps in responsibilities, security, and communications prolong the outage of business operations, so it’s better to identify and eliminate these gaps now before a disaster happens.
How to Get Started with Estate Planning
How to Get Started with Estate Planning Estate planning isn’t just for the rich and famous. You may have family heirlooms (such as jewelry or artwork) or real property that has sentimental value to certain family members. Wills and trusts can help ensure that your estate is divided up in the way you intended. Here…
GRF Announces Partnership with Industry Leading Whistleblower Software
Combined capabilities provide clients with a robust anti-fraud program April 17, 2023 – GRF CPAs & Advisors (GRF) is pleased to announce a new strategic partnership with Whistleblower Software, an industry-leading system that empowers employees to report fraud at their organization in confidence. This powerful tool enables GRF clients to quickly establish a whistleblower program…