Archives: Insights

The Fair Labor Standards Act (FLSA) sets fundamental workplace standards in the United States, including wage and hour regulations, recordkeeping requirements, and child labor protections. In a significant development, the U.S. Department of Labor (DOL) has finalized new overtime rules that will roll out in two phases, bringing substantial changes for employers.

Let’s think about this from a different perspective. Think of the dashboard of your car. Your car’s dashboard provides essential information such as speed, fuel level, engine health. This information is imperative to make informed decisions while driving. Imagine driving a car without one. This could leave you stranded on the side of the road without fuel, or with citations for speeding, which are not good things. This is the same power as your financial statement. It is like the financial dashboard for your practice. It gives you the power to make informed decisions for your business. Without the financial statement, it can be difficult to steer your practice in the right direction.  

Clear communication is essential in any professional partnership. Whether you're working with our firm or considering hiring another CPA, understanding these key points can help you get the most out of this important relationship.

As a not-for-profit leader, you're passionate about your mission. You're changing lives, improving communities, and making the world a better place. But here's a curveball you might not have seen coming - when it comes to taxes, your not-for-profit might have more in common with for-profit businesses than you think. 

As we observe Cybersecurity Awareness Month this October, it's crucial to shine a light on the importance of digital security in all areas, including business. This year's theme, "Secure Our World," reminds us that simple steps can significantly enhance our online safety. We'll explore how this applies to small businesses through a real-life cautionary tale that emphasizes the need for rigorous cybersecurity measures. 

Artificial Intelligence refers to computer systems designed to perform tasks that typically require human intelligence. These include problem-solving, learning, planning, and understanding natural language. While AI has existed in various forms for decades, recent advancements have led to its widespread adoption across industries.