Author Archives: mgracey

When small and mid-size businesses assess their existing accounting systems, the adage “if it ain’t broke, don’t fix it” often comes to mind. After all, if employees are comfortable working with a solution that continues to function the way it is supposed to, why spend the dollars and resources to find and deploy a new […]

In this episode, employee benefit plan audit expert Melissa Fleitas explains some of the changes plan sponsors will need to comply with in the next few years.

Falling victim to a data breach that involves unauthorized access to a company’s confidential information can be especially costly for small and mid-size businesses in terms of lost revenue, loss of productivity and reputational damage. Yet even as the number of small businesses impacted by cyberattacks continues to rise, less than half have adopted cybersecurity […]

In this episode, Senior Manager Yovanny Hernandez shares the details about 1031 exchanges and how they help real estate owners mitigate taxes..

UPDATED – On March 2, 2025, the Department of Treasury announced CTA will be narrowed to only foreign reporting companies.   UPDATED – On December 3, 2024, a federal court in Texas ruled that the CTA is likely unconstitutional and prohibited its enforcement. This set off a review, injunction and follow-up hearing date in March […]

In this episode, Director of Tax Services Andrew Leonard explains foreign tax credits and a recent court ruling that could make an impact on taxpayers.

In July 2024, the IRS issued final regulations regarding the SECURE Act’s elimination of stretch IRAs for certain non-spouse beneficiaries. The announcement gives taxpayers and their advisors much-needed clarification on the law’s requirement that beneficiaries of inherited IRAs draw down those accounts and pay the related taxes within 10 years of an original owner’s death. […]

In May 2024, the IRS issued proposed regulations concerning the reporting requirements and tax consequences of U.S. persons who create, fund, transact with and receive gifts or loans from foreign trusts. The guidance, which applies to Sections 643(i), 679, 6039F, 6048, and 6677 (the foreign trust and gift provisions) of the U.S. tax code, updates […]

In this episode, associate tax director Brendan Kurpis explains electric vehicle tax credits and the common missteps.

Businesses and their employees are constantly bombarded by a rising threat of email and text scams that have resulted in millions of dollars in security breaches, lost data, stolen money, interruption to normal business operations and longer-term reputational damage. While businesses should bolster their defenses with a range of cybersecurity hardware and software solutions, they […]