Archives for Newsletter and Updates

Nancy Van Lanen, CTFA, EA Estate and Trust Tax Partner Valeria Barinova, Esq. Estate and Trust Tax Manager   Trump Accounts continue to generate significant interest among families looking to save for a child’s future. Recent IRS guidance provides welcome clarity and removes one of the biggest concerns advisors had raised since the program’s creation: potential gift tax reporting requirements on account contributions. How Trump Accounts Work Trump Accounts are a new tax-favored savings vehicle created for children under age 18. Eligible children may receive a one-time $1,000 federal contribution, and parents, grandparents, employers, charitable organizations, and certain government entities
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Successful businesses don’t wait until tax season to ask important financial questions. Throughout the year, business owners face decisions that can impact taxes, cash flow, growth, and long-term success. To help, we’ve asked our CPAs to answer 10 of the most common tax, accounting, and audit questions business owners are asking in 2026. Whether you’re planning ahead or looking for practical guidance, these insights can help you make more informed financial decisions. 1. The tax law changed in 2026. What should I be doing differently before year-end? “Proactive tax planning based on your unique circumstances is especially important this year. 
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Albert Yang, CPA Tax Director   Charitable giving is an effective way to align philanthropic goals with tax planning, particularly when donating appreciated property. Generally, contributions of long-term capital gain property to qualified charities are deductible at fair market value (FMV), subject to AGI limitations. When the donated property is encumbered by debt, transferring the liability to the charity can be difficult. In these cases, a bargain sale may be a practical alternative. A bargain sale occurs when property is transferred to a charity for less than FMV, creating both: a sale component, and a charitable gift component Importantly, any
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Cyndi LeBerthon, CPA Partner in Charge – Audit Department   When your business is growing, it is normal to need financing from a bank. Prior to providing lending to your business, your banker may want added confidence in your internal financial statements by an independent CPA.  While the highest level of assurance is an audit, you may not always need or want to pay for an audit. That’s where a review engagement can be a great fit. A review engagement is a service provided by an independent CPA where we take a high-level look at your financial statements and perform certain procedures to determine
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While profitability often receives the most attention, cash flow is what keeps a business operating day to day. A company can report strong revenues and healthy profits on paper, yet still face financial challenges if cash is not available when needed. Effective cash flow management is one of the most important responsibilities of business owners and leadership teams, particularly in today’s evolving economic environment. Understanding Cash Flow Cash flow represents the movement of money into and out of a business. Positive cash flow occurs when incoming cash exceeds outgoing expenses, while negative cash flow occurs when expenses outpace available cash.
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By mid-2026, taxpayers have a valuable—yet often underutilized—opportunity to reassess their financial position and make proactive decisions that can materially impact their year-end tax outcome. Waiting until Q4 (or worse, filing season) limits your options. Effective mid-year tax planning is about using real-time data to optimize cash flow, reduce liabilities, and avoid surprises. Below is a structured approach to making the most of your mid-year tax review. Key Areas to Evaluate Income and Tax Bracket Management Start with a projection of total 2026 income: W-2 wages Business or self-employment income Investment and capital gains Rental income Planning opportunities: Accelerate or
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