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All About Government Contractors

Federal Government Says Goodbye to Paper-Based Payments

The federal government is officially waving goodbye to paper checks. On March 25, President Trump issued an executive order aimed at modernizing how the U.S. government sends and receives payments. Here’s a breakdown of what you need to know.
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FinCEN Scraps Beneficial Ownership Information Filing Requirement for Domestic Companies

The Financial Crimes Enforcement Network announced that entities created in the U.S. and their beneficial owners are now exempt from the requirement to report Beneficial Ownership Information (BOI) to FinCEN, alleviating a regulatory burden many business...
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Do You Need an Audit, Review or Compilation?

When it comes to financial reporting, nonprofits and for-profit businesses often face a range of requirements and expectations depending on their size, activities and the specific regulations they are subject to. When running a nonprofit or business,...
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Supreme Court Decision Gives Businesses a Good Reason to Re-Visit Succession Plan

Last year the Supreme Court released an important decision in Connelly v. United States that has the potential to impact many business owners.
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2025 Payroll Update

Social Security & Medicare Tax As of January 1, 2025, the maximum amount of annual earnings subject to Social Security increases to $176,100 (from $168,600 in 2024). There is no limit on the amount of earnings subject to the Medicare tax. The maximum...
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Post-Election Tax Analysis: Expiring Tax Laws & Trump’s Tax Proposals

The more things change, the more they stay the same. In 2025, major provisions from the Tax Cuts and Jobs Act of 2017 (TCJA) are set to expire. These provisions are widespread and likely to affect you as a taxpayer. With the Trump administration...
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