No one can predict with certainty where the U.S. economy will be at the end of 2024 or in 2025. The presidential election, interest rates, inflation, overseas conflicts and the recent stock market performance all could influence the macroeconomic direction. So it’s prudent for nonprofit leaders to hope for the best but also plan for […]
5 Ways for Your Nonprofit to Weather Economic Uncertainty Read More »
Have you seen the forecast? No, not the weather forecast — but your not-for-profit’s financial forecast. Financial forecasting is critical to any organization’s good health, but it can be more difficult for nonprofits than for businesses. After all, you usually can’t predict how many donors you’ll have in the future, how much they’ll contribute or
Sun or Storm? Forecasting Your Nonprofit’s Financial Future Read More »
Despite months of negotiations and debate, the U.S. Senate failed to pass HR 7024, titled the “Tax Relief for American Families and Workers Act of 2024.” The bill’s failure means that several proposed changes to the U.S. tax code will not be implemented, affecting both individuals and businesses. This outcome particularly impacts rules on research
Senate Fails to Pass Tax Relief Bill, Leaving Significant Tax Code Changes Unrealized Read More »
By Bryan E. Pearce & Kelly A. Berardi, JD, LL.M.Gray, Gray & Gray, LLP Companies whose business succession planning includes the use of life insurance policies to fund a buy/sell agreement may have to go back to the drawing board. The recent U.S. Supreme Court decision in Connelly v. United States has significant implications for
The potential consequences of the Senate failing to pass H.R. 7024, the Tax Relief for American Families and Workers Act of 2024, are numerous, as this crucial legislation addresses several important tax issues. One of the most significant for businesses is the proposed addback of depreciation, amortization, and depletion when determining adjusted taxable income under
Defeat of H.R. 7024 Threatens Restoration of Taxable Income Adjustment Read More »
By Bill ConstantopoulosGray, Gray & Gray, LLP As financial software consultants, we have seen firsthand how challenging and time-consuming audit preparation can be for businesses. Gathering information from various departments, locations, and accounts can be a daunting task, especially when using disparate systems and manual processes. However, with the advent of advanced enterprise software platforms
Simplifying Audit Preparation with Sage Intacct Read More »
By Tom Yuen, CPA, MSTGray, Gray & Gray, LLP Research and development are the lifeblood of the life science industry. From developing new drugs and medical devices to advancing biomedicine and biotechnology, life science companies pour billions into R&D each year in pursuit of life-changing innovations. However, the R&D process is extremely costly, time-consuming, and
Maximizing R&D Tax Credits for Life Science Companies Read More »
By Nathaniel C. Gravel, CISA, CISM, CRISC As a cybersecurity consultant, I’ve seen firsthand the devastating impact that a data breach can have on small and medium-sized businesses (SMBs). While the immediate costs of a ransom payment or fine may seem daunting, the hidden costs that follow can be even more detrimental to a company’s
The Hidden Costs of a Data Breach for Small- and Medium-Size Businesses Read More »
By James DeLeo, MBA, CPA/MST & Richard Frizzell, CPA, MSAGray, Gray & Gray, LLP Mergers and acquisitions (M&A) come with inherent risks. To mitigate these risks, comprehensive due diligence is essential. Due diligence is the process of investigating a target company to assess its financial health, business operations, and legal compliance. Financial due diligence is
Financial Due Diligence for Mergers and Acquisitions Read More »
By Nathaniel C. Gravel, CISA, CISM, CRISC Cybersecurity threats are more prevalent than ever before. But do you know that in 2023, 86% of all cyberattacks were attributed to human error? This is due to a lack of awareness and training among employees. It is crucial to understand that your employees are your first line
Train Your Employees to Be Your First Line of Cyber Defense Read More »