The IRS has recently released the optional standard mileage rates for 2024. These rates are used to determine deductible costs when using a vehicle for business, charity, medical, or moving purposes. The rates are applicable to a wide range of…
The Department of Labor’s (DOL) recent release of its final overtime rule has grabbed headlines for its sizable impact on millions of American workers. The changes enforce minimum earnings that are the bedrock of fair labor practices, yet the scope…
President Biden’s recent campaign stop at a Sheetz convenience store ended in an unexpected twist. While sipping on his cup of coffee and chatting with employees and customers, little did he know that Sheetz had something else brewing in the…
As of January 1, 2024, the U.S. government will mandate most businesses to disclose additional details about individuals who exert direct or indirect control over the company. This involves revealing information about owners, officers, and key operators. This change stems…
There are two main approaches to budgeting: driver-based budgeting (DBB) and zero-based budgeting (ZBB), both of which are known for improving FP&A processes. Each method has its own advantages and is suitable for different industries, depending on their specific characteristics…
Q: What is the value of obtaining a valuation for Financial Planning For all business owners, a must have – understanding the value of their business plays a major role in determining whether they’ll reach their personal financial goals, should…
Virtual CFO services refer to financial management and advisory services that are offered remotely, rather than in-person. This type of service is becoming increasingly popular as businesses look for ways to reduce costs and increase efficiency. One of the main…
Outsourced or Virtual CFO Services represent a modern solution for businesses seeking expert financial guidance without the costs associated with a full-time employee. These services, delivered either remotely or in person, by experienced professionals, encompass a range of financial tasks,…
Recent IRS regulations have unveiled new standards for the participation of long-term part-time employees in 401(k) retirement plans. The changes, set to take effect from 2024, originate from provisions in the Secure Act 2019 and Secure 2.0 Act 2022. Notably,…
As a business owner, you already know that starting a company is just the first step in the long journey to success. One of the most crucial elements of building a successful business is developing a functional and dynamic business…