Recent News

Businesses strive for balance in hybrid work models

If your business allows employees to perform their jobs under a hybrid work model, it’s not alone. Ever since the pandemic, many companies have sought to strike a balance between permitting some remote work while also requiring staff to come into the office (or another type of facility). Data released this year shows that, by and large, businesses seem to have found a certain equilibrium regarding hybrid work. However, maintaining the right balance for your company will require a careful eye going forward. Schedule control Just this month, Gallup published survey results showing that, as of May 2025, 51% of...

Major Changes Coming to Federal Payments

On March 25, 2025, Executive Order 14247 was signed into law. Starting September 30, 2025, the Federal government will change how it makes and receives payments. The government will transition away from paper payments like checks and money orders and shift almost entirely to modern, electronic payment methods. The goal is to increase efficiency, reduce costs, prevent fraud, and improve the security of payments involving the Federal government. Key Changes End of Paper Checks:Soon, the Treasury will stop issuing paper checks for most Federal payments—including tax refunds, benefits like Social Security, vendor payments, and more—with only a few exceptions. Electronic-Only...

Developing a comprehensive AI strategy for your business

We’ve reached a point where artificial intelligence (AI) offers functionality and enhancements to most businesses. Yours may be able to use it to streamline operations, improve customer interactions or uncover growth opportunities. However, getting the max benefit calls for doing much more than jumping on the bandwagon. To make this technology truly work for your company, you’ve got to develop a comprehensive AI strategy that aligns with your overall strategic plan. Identify your needsMany businesses waste resources, both financial and otherwise, by hastily investing in AI without thoroughly considering whether and how the tools they purchase effectively address specific needs....

Businesses can strengthen their financial positions with careful AP management

Running a successful business calls for constantly balancing the revenue you have coming in with the money you must pay out to remain operational and grow. Regarding that second part, careful accounts payable (AP) management is critical to strengthening your company’s financial position. Proper AP management enables you to maintain strong relationships with vendors, suppliers and other key providers. It also helps ensure you avoid costly mistakes, prevent fraud and maintain a steady cash flow. Underperforming at AP management may hamper your ability to obtain the materials or services you need to operate, damage your business’s reputation, and trigger financial...

Update on the One Big Beautiful Bill Act

On July 4th, President Trump signed the “One Big Beautiful Bill Act”, a sweeping tax and spending package with significant changes, especially for small business owners. Key Elements of the New Law: Permanent Small Business Tax Deduction and Lower Tax RatesThe 20% small business tax deduction, previously set to expire, is now made permanent. This deduction applies to pass-through entities such as S corporations, partnerships, and sole proprietorships.   Permanent Bonus DepreciationExpensing limits for business equipment purchases have been significantly raised, and full bonus depreciation is now permanent for qualified property placed in service after January 19, 2025. Increased State...

Safe harbor 401(k)s offer businesses a simpler route to a retirement plan

When many small to midsize businesses are ready to sponsor a qualified retirement plan, they encounter a common obstacle: complex administrative requirements. As a business owner, you no doubt already have a lot on your plate. Do you really want to deal with, say, IRS-mandated testing that could cause considerable hassles and expense? Well, you may not have to. If that’s the only thing holding you back, consider a safe harbor 401(k) plan. These plans are designed to simplify administration and allow highly compensated employees to contribute the maximum allowable amounts. Of course, you still must read the fine print. Simple...