Welcome to December’s newsletter. As we celebrate this holiday season, there is no time more fitting to say “Thank you” to our wonderful clients, and to wish everyone a happy holiday season and a new year of health, happiness and prosperity!

FEATURED ARTICLES:

• Updates on Beneficial Ownership Interest (BOI) Reporting: The month of December has seen quite a bit of twist and turns with regards the filing requirements under the Corporate Transparency Act(CTA). Continue reading

• Year-end tax planning tips for small businesses: As we look to close out 2024, it’s a great time to review useful tax planning tips that your company could consider implementing to reduce its tax burden. Continue reading

• 8 tips for boosting your organization’s cashflows: An organization’s inability to generate positive cashflows on a consistent basis is a red flag for long term viability. In light of this, the implementation of strategies to boost positive cashflows must be a top priority for business owners and leaders. Read more.

• Best Practices to prepare for your single audit: For organizations with fiscal year beginning on or after October 1, 2024, and federal expenditures of $1 million( previously $750,000) or more in the fiscal year, they will be required to undergo a Single Audit, to comply with the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, known as the Uniform Guidance. Being well prepared for your single is key to ensuring an efficient audit process. Read more.

Motivational Thought for the month: “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it”. (Henry Ford)