As businesses grow, financial complexity grows with them. New systems, more employees, increased transaction volume, and external stakeholders (lenders, investors, boards) all raise the bar for financial reporting and controls.
Whether you’re pursuing financing, courting investors, or preparing for a potential sale, one thing is universally true: your financials will be scrutinized. And not just at a high level.
For many business owners, electing S-corporation status was once a no-brainer. It offered payroll tax savings, pass-through taxation, and a relatively straightforward compliance structure. But tax laws evolve, businesses grow, and what worked five (or even two) years ago may no longer be the optimal fit.
As an IT coordinator, I spend a lot of time behind the scenes protecting systems most people never think about—until something goes wrong. And when it comes to cybersecurity, financial data is always the top target.
As more businesses embrace remote and hybrid work models, one area that hasn’t shifted as quickly is internal controls. Systems that once relied on in-person oversight, paper approvals, or physical access now face gaps that can leave businesses exposed to fraud, errors, and compliance risks.
A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) reinstated the immediate deduction for U.S.-based R&E expenses. This change reverses rules under the Tax Cuts and Jobs Act (TCJA), which forced businesses to capitalize and amortize these costs over five years (15 years for research performed outside the United States).
For nonprofits, revenue comes from two main sources, earned income and contributed revenue:
In-kind donations—also called gifts-in-kind—are non-cash contributions of goods or services. GAAP requires nonprofits to report them at fair market value (FMV), on a separate line item of the Statement of Activities for contributed nonfinancial assets. Beyond that, nonprofits must disclose how these donations were used, how they were valued, and whether donor restrictions apply.
Divorce is stressful under any circumstances, but for business owners, the process can be even more complicated. Your business ownership interest is often one of your largest personal assets, and in many cases, part or all of it will be considered marital property. Understanding the tax rules that apply to asset division can help you avoid costly surprises.
For many nonprofits, grants are a lifeline—fueling programs, projects, and operations. But receiving the funds is only half the story. Proper recognition and allocation are essential to maintain compliance, ensure transparency, and preserve eligibility for future funding.
