What Is an Audit Trail, and How Does It Impact Your Business
Audit trails are chronological, time-stamped records containing every transaction, configuration change, or access event across systems and processes, automated or manual. The primary benefits are greater compliance with financial (SOX, PCAOB), privacy (HIPAA, GDPR), and climate-reporting regulations; improved risk management through AI anomaly detection; and greater operational resilience through faster incident response. The leaders of […]
Will Tariffs Hit Small Businesses the Hardest?
Certain businesses, especially small ones, suffer from higher immediately imposed costs caused by the April 2025 “reciprocal tariffs” again invoked by President Donald Trump. By their very nature, small businesses don’t have the scale, financial cushion and stables of compliance officers to absorb or pass on these higher costs, as their larger counterparts do. Large […]
Quarterly Tax Planning: How to Stay Ahead of Deadlines in 2025
As businesses and affluent individuals operate in a context of modest inflation without real-wage growth, the IRS’s annual adjustments for tax year 2025 for annual inflation increased the standard deductions and bracket thresholds, but just barely. Consequently, enhanced planning will be required to avoid “bracket creep” and underpayment penalties. As of Spring 2024, single filers […]
Sales Tax Compliance: How to Avoid Penalties and Stay Updated
As the economic space continues to dissolve state borders, it has become especially critical that states comply with sales tax, and increasing pressure seems to exist from regulators to enforce it. The penalty for failing to pay can be 0.5%. per month and 25% of unpaid tax for the penalized period, along with the possibility […]
Creating a Financial Roadmap for Business Growth in 2025
Businesses in 2025 will continuously be faced with many challenges and opportunities as the economy evolves. The effects of local and disruptive global events have highlighted the necessity of business planning and strategy in building strategic financial plans. Strategic financial plans will allow businesses to build a financial roadmap, and these plans will direct uncertainty […]
How to Prepare a Strong Financial Statement for Investors
Obtaining the right funding can make or break a developing company’s future. Imagine you walk into a meeting with potential investors with financial statements that not only highlight the successes of your business, but are also compelling in the way they highlight a path of strategic growth and innovation. When financial statements are made thoughtfully, […]
