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One Big Beautiful Bill Act: What You Need to Know and Plan For Now
One Big Beautiful Bill Act: What You Need to Know and Plan For Now
The comprehensive tax legislation signed on July 4th brings major changes affecting your 2025 taxes and beyond. From permanent lower tax rates and enhanced standard …
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July 23, 2025
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All Post|Tax Preparation
The Truth About the “Big, Beautiful” Tax Bill and Social Security Benefits
The Truth About the “Big, Beautiful” Tax Bill and Social Security Benefits
If you’ve seen recent headlines—or even received an email from the Social Security Administration—you might be wondering whether Social Security benefits are now completely tax-free …
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July 9, 2025
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Tax Preparation, All Post|Tax Preparation
Mid-Year Tax Moves for Smart Business Owners From the team at Rose Group CPAs
Mid-Year Tax Moves for Smart Business Owners From the team at Rose Group CPAs
Smart business owners don’t wait until year-end to lower their tax bill. Here are 3 mid-year tax strategies to keep more of what you earn—and …
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June 25, 2025
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Accounting and Payroll|All Post|Tax Preparation
June Business Tax Deadlines – What You Need to Know Before Summer Kicks In By Rose Group CPAs
June Business Tax Deadlines – What You Need to Know Before Summer Kicks In By Rose Group CPAs
Don’t miss these key June tax deadlines—Rose Group CPAs keeps your business on track.
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May 27, 2025
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Accounting and Payroll|All Post
Tariffs and the Economy: What Business Owners Should Do Now
Tariffs and the Economy: What Business Owners Should Do Now
Tariffs and the economy are hot topics right now. Economic indicators are mixed. Whether we’re heading into a recession or continuing in a strong market, …
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May 14, 2025
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Accounting and Payroll, Accounting and Payroll|All Post
Report of Foreign Bank and Financial Accounts
Report of Foreign Bank and Financial Accounts
Taxpayers with foreign financial accounts have specific reporting requirements mandated by the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN). Whether you’re …
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April 23, 2025
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Tax Preparation, All Post|Tax Preparation
How to Maximize Your Small Business Tax Deductions.
How to Maximize Your Small Business Tax Deductions.
Running a small business is demanding. Between managing employees, juggling client deadlines, staying on top of invoices, and trying to squeeze in a little marketing—it …
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April 9, 2025
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All Post|Tax Preparation, Tax Preparation
The EV Tax Credit Debate: A Look at Both Sides
The EV Tax Credit Debate: A Look at Both Sides
The EV tax credit debate explores its benefits for sustainability and economic growth versus concerns over cost and market impact. Learn both sides of the …
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March 12, 2025
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Tax Preparation, All Post|Tax Preparation
Maximizing Tax Savings with Section179 for Business Vehicles
Maximizing Tax Savings with Section179 for Business Vehicles
For many business owners, purchasing a company vehicle is a necessary investment—but it can also be a great tax-saving opportunity. The Section179 deduction allows businesses …
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February 26, 2025
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All Post|Tax Preparation, Uncategorized
Understanding the IRS Identity Protection PIN (IP-PIN)
Understanding the IRS Identity Protection PIN (IP-PIN)
Identity theft is all around us and tax-related identity theft can be particularly stressful. If someone fraudulently files a tax return using your Social Security …
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February 12, 2025
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Tax Preparation, Uncategorized
Rapidly Approaching Due Date for 1099s and W-2s
Rapidly Approaching Due Date for 1099s and W-2s
When January hits we are focused on our goals for the year. Small business owners often find themselves planning the direction and initiatives for the …
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January 22, 2025
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Accounting and Payroll, Accounting and Payroll|All Post
IRS Penalties – When are they assessed and how to avoid them
IRS Penalties – When are they assessed and how to avoid them
Tax season is stressful for many, especially if you’re worried about penalties. Either as an individual or a small business owner, IRS penalties can be …
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December 18, 2024
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All Post|Tax Preparation, Uncategorized
Why CPAs’ Fees Have Increased
Why CPAs’ Fees Have Increased
In recent years, major tax legislation—like the TCJA, CARES Act, and SECURE Act 2.0—has introduced new rules and credits, adding layers of complexity to tax …
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November 13, 2024
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Tax Preparation
Tax Relief for Hurricane Victims: Key Deadlines You Need to Know
Tax Relief for Hurricane Victims: Key Deadlines You Need to Know
If you’ve been impacted by a hurricane, like Hurricane Debby or the more recent Hurricane Helene, I want to make sure you’re aware of the …
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October 9, 2024
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Accounting and Payroll, Tax Preparation
The Silver Tsunami: A Golden Opportunity for Younger Generations to #Acquire Businesses
The Silver Tsunami: A Golden Opportunity for Younger Generations to #Acquire Businesses
s Baby Boomers approach retirement, many small business owners are beginning to plan their exits, creating what’s being called the “silver tsunami.” For Millennials and …
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September 25, 2024
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Accounting and Payroll
Roth IRA Contributions in 2024: Strategies for Maximizing Tax-Free Retirement Savings Amid Rising Taxes
Roth IRA Contributions in 2024: Strategies for Maximizing Tax-Free Retirement Savings Amid Rising Taxes
In today’s economic environment, considering a Roth IRA conversion is more important than ever. With the government deficit at historic highs, it’s reasonable to expect …
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September 11, 2024
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Tax Preparation
Suspended Losses in the Final Year of Your #S-Corporation
Suspended Losses in the Final Year of Your #S-Corporation
Suspended losses in an #S-corporation arise when a shareholder’s losses exceed their basis in the corporation. These are the losses you couldn’t deduct in previous …
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September 3, 2024
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Accounting and Payroll
Past, Current and Future #R&D Tax Legislation
Past, Current and Future #R&D Tax Legislation
The failure of the Tax Relief for American Workers and Families Act to pass in the Senate adds to the uncertainty surrounding the tax treatment …
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August 15, 2024
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Tax Preparation
TCJA Changes Sunsetting in 2025
TCJA Changes Sunsetting in 2025
With the potential sunsetting of TCJA provisions in 2025, we want our clients to consider some planning tips.
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July 24, 2024
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Tax Preparation
Tax Extensions: Debunking the Myths and Understanding the Benefits
Tax Extensions: Debunking the Myths and Understanding the Benefits
Let’s debunk the myths surrounding tax extensions and understand the benefits they offer.
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July 10, 2024
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Tax Preparation
Understanding the Kiddie Tax and Strategies for Maximizing Your Child’s Tax Benefits
Understanding the Kiddie Tax and Strategies for Maximizing Your Child’s Tax Benefits
The kiddie tax applies to unearned income (investment income) exceeding a certain threshold. For 2024, if your child’s investment income surpasses $2,600, it will be …
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June 26, 2024
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Tax Preparation
Entities Looking to Expand to the US Need a U.S Identification Number
Entities Looking to Expand to the US Need a U.S Identification Number
United States launch process requires obtaining an Employer Identification Number (EIN). This unique identifier is essential for tax and payroll reporting, and U.S. banks typically …
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June 12, 2024
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Accounting and Payroll
Remote Work Tax Considerations for Small Business
Remote Work Tax Considerations for Small Business
Understanding tax implications to avoid potential penalties and ensure compliance with tax laws is necessary for onboarding employees. State tax withholding is required in the …
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May 22, 2024
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Accounting and Payroll
Navigating IRA Beneficiary Designations as part of Overall Estate Planning
Navigating IRA Beneficiary Designations as part of Overall Estate Planning
When you first became eligible to participate in your employer’s retirement plan, you were asked to complete beneficiary information. While this choice may seem straightforward, …
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May 8, 2024
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Accounting and Payroll
Why you need to Separate your Business Finances from Personal
Why you need to Separate your Business Finances from Personal
One test the IRS looks at in determining if a business has a profit motive or is a hobby, is if it is run like …
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April 24, 2024
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Accounting and Payroll
Worker Classification: Employee vs. Independent Contractor
Worker Classification: Employee vs. Independent Contractor
Employment classifications, the distinction between employees and independent contractors, is not governed by the application of rules. The implications of how a worker is classified …
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April 10, 2024
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Accounting and Payroll
How Virtual CFO Services Can Transform Your Business: Insights from Rose Group CPAs
How Virtual CFO Services Can Transform Your Business: Insights from Rose Group CPAs
A Virtual CFO, or Chief Financial Officer, provides high-level financial guidance and strategic advice to businesses on a remote basis. Unlike traditional CFOs who are …
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March 27, 2024
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Accounting and Payroll
BOI – Deciphering the Corporate Transparency Act: A Guide for Businesses
BOI – Deciphering the Corporate Transparency Act: A Guide for Businesses
In the ever-evolving realm of business regulations, the Corporate Transparency Act (CTA) has emerged as a pivotal player, ushering in new reporting standards for U.S. …
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March 13, 2024
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Accounting and Payroll, Tax Preparation
Advantages of Retirement Accounts
Advantages of Retirement Accounts
Retirement accounts are a cornerstone of financial planning for the future, yet they can often feel like a maze of acronyms and options. What exactly …
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February 28, 2024
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Tax Preparation
Tax Deductions for the Self-Employed
Tax Deductions for the Self-Employed
If you are a sole proprietor or receive a 1099 for contract work then you will want to consider tax deductions attributable to the income …
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December 6, 2022
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Tax Preparation
Should I be paying estimated taxes
Should I be paying estimated taxes
Estimated tax is the way you pay the IRS and the State income tax on the income you earn throughout the tax year. It is …
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July 21, 2022
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Uncategorized
FQHC 330 Grant Management
FQHC 330 Grant Management
HRSA is the largest funding source for most federally qualified heath centers and rural health centers. Since COVID funding has substantially increased the reporting requirements …
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July 16, 2022
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Audit
Nonprofit Operating Reserves
Nonprofit Operating Reserves
The operating reserve is cash to be used in the organization. It is part of an overall cash flow plan. Reserves can be for a …
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January 14, 2022
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Audit
How much does a nonprofit audit cost?
How much does a nonprofit audit cost?
Audits are expensive. They are the highest level of assurance; therefore, require the most work. The fee quoted will depend on several factors: How many …
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June 8, 2021
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Audit
Nonprofit Statement of Functional Expenses Allocation Methods
Nonprofit Statement of Functional Expenses Allocation Methods
If you are a nonprofit organization in North Carolina you may be required to prepare a statement of functional expenses. The statement of functional expenses …
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December 8, 2020
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Audit
Accounting for Non-Cash Contributions
Accounting for Non-Cash Contributions
Contributions can be made to a nonprofit in either cash or property. Non-cash contributions can be tangible or intangible. Tangible property could be vehicle donations, …
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June 9, 2020
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Audit
Volunteers and Financial Reporting Requirements
Volunteers and Financial Reporting Requirements
Volunteers are an integral part of many nonprofit organizations. Some organizations depend on their very survival by incorporating volunteers. Since volunteers are non-paid staff, does …
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December 10, 2019
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Audit
Audit Preparation: Preparing the Schedule of Expenditures of Federal Awards (SEFA)
Audit Preparation: Preparing the Schedule of Expenditures of Federal Awards (SEFA)
All nonprofit organizations that expend $750,000 and more are required to have a single audit under the Uniform Guidance One of the required statements included …
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July 11, 2019
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Audit
Subrecipient Responsibilities for Grant Revenue pass-through
Subrecipient Responsibilities for Grant Revenue pass-through
A subrecipient is an organization that receives federal awards from a pass-through entity rather than directly from the federal grantor to carry out a program. …
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June 12, 2018
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Audit
How to prepare the Grant Revenue Schedule
How to prepare the Grant Revenue Schedule
Accounting for grant revenue is vital for the nonprofit organization. Careful attention to detail must be provided throughout the life of the grant. In addition …
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December 12, 2017
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Audit
