President Biden has released his proposed budget for the federal government for the 2024 fiscal year. The budget, which aims to cut the deficit by nearly $3 trillion over 10 years, includes numerous provisions that would affect the tax bills of both individuals and businesses. While most of these proposals stand little chance of enactment […]
The U.S. Supreme Court recently weighed in on an issue regarding a provision of the Bank Secrecy Act (BSA) that has split two federal courts of appeal. Its 5-4 ruling in Bittner v. U.S. is welcome news for U.S. residents who “non-willfully” violate the law’s requirements for the reporting of certain foreign bank and financial […]
The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. While it remains to be seen if — and when — any tax-related legislation can muster the requisite bipartisan support, a review of certain provisions in existing laws may provide an indication of the […]
To help you make sure you don’t miss any important 2023 tax deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. Date Deadline for January […]
This article was originally published on the Georgia Restaurant Association (GRA)’s blog. After a few tough years, when close to 30% of Georgia’s restaurants permanently closed their doors, the industry continues its struggle to rebound as it faces serious challenges. Competition in the labor market is intense, the cost of goods continues to rise, and […]
On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect your financial planning: the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act (also known as SECURE 2.0) and the Conservation Easement Program Integrity Act. Bolstering Retirement Savings […]
Clients often ask about the most important thing they can do to protect themselves in such a connected world? The first answer I always recommend is to enable multifactor authentication (MFA) on all applications. What is Multifactor Authentication? You may have heard the phrases “something you know” and “something you have.” MFA or two-factor authentication […]
Once you and your organization choose to move forward with a SOC 2 report, you must decide which of the five Trust Services categories you want to include. What factors should you consider when making this decision? It comes down to what categories suit your business, services and customers. What Are the Trust Services Categories? There are […]