Destiny Flood
IRS Delays $600 Threshold Changes for Form 1099-K Reporting
The IRS recently announced a delay in the implementation of the $600 threshold for Form 1099-K reporting. This rule, which would have required third-party settlement organizations (TPSOs) to report aggregate payments greater than $600, was initially set to go into effect in 2024. However, the IRS has pushed back this requirement to give businesses more […]
Maximize Your Business Sale Value: Why Accurate Financials Matter
In this article: Businesses considering a sale, merger, Unsolicited Friendly Offer (UFO), or even a partial sale in exchange for a significant outside investment typically hear one piece of advice: Ensure your books are in order. Clean, accurate, and up-to-date financial records are essential for transaction success, particularly as prospective buyers or investors demand greater […]
Navigate Finance Team Disruptions and Ensure Continuity
An abrupt change or turnover in the finance function requires a swift and strategic response. Losing a key figure in the department, for example, may leave your company vulnerable, creating an immediate need for financial oversight and leadership. Similarly, rapid or substantial growth can heighten operational complexity, demanding immediate attention. Beyond sudden disruptions, other situations […]
Optimize Q4 Budget Planning
In this article: During the fourth quarter, it is critical that organizations evaluate financial performance, finalize plans, and set priorities for the year ahead. It is a time to refine budgets, align strategies with goals, and prepare for challenges while building a foundation for success. The Q4 budgeting process ensures resources are allocated effectively, key […]
Top Takeaways From Our 2024 Business Tax Planning Webinar
In this article: Tax planning is an essential part of business strategy, especially as we approach year-end. During AAFCPAs’ recent Business Tax Planning webinar (October 2024), speakers discussed topics that affect U.S. privately held businesses across federal, state, and international tax landscapes. This session highlighted credits, deductions, compliance challenges, and strategies that could benefit businesses […]
1099 Reporting: Key Deadlines and Requirements for 2024
In this article: 1099 Reporting Requirements AAFCPAs reminds clients that payments exceeding $600 made to non-employees, including contractors and other service providers, must be reported to the IRS using Forms 1099. If your business hired consultants in 2024, paid dividends, or managed a complex debt structure involving independent contractors, you may face penalties if 1099 […]
Best Practices for Cash Management
10 Tips for Effective Cash Management Understanding and managing cash is essential to running a business. Cash is at the center of every decision, from paying bills to meeting payroll. Effective cash management also ensures a business can invest in new projects, expand operations, and prepare for unexpected expenses or downturns. It ensures timely credit […]
Essential Tax Moves Before Year-End: Watch Our Business Tax Webinar
Webinar: Year-End Tax Planning & Compliance for Privately Held Companies AAFCPAs invites you to watch our 2024 Business Tax Planning webinar, designed to provide essential year-end tax strategies to help you maximize your 2024 tax benefits. This session covers key regulatory changes and guidance for optimizing your tax position. Details: Focused on optimizing your business […]
Year-End Tax Webinars: Optimize Your 2024 Tax Strategy
Watch OnDemand: 2024 Year-End Tax Webinars Reviewing your tax strategies before the end of the calendar year is essential to uncover potential tax savings, ensure compliance, and optimize your financial decisions, which is why AAFCPAs annually hosts a series of complimentary webinars to help clients stay informed and prepared. Whether you are a business owner, […]