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ProfitSense

Kim Huynh, CPAJanuary 25, 20243 min read

Reporting Payments to Independent Contractors: Forms 1099-NEC & 1042-S

For businesses working with independent contractors, understanding ...
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Matt Dobay, CPA, MAccDecember 27, 2023< 1 min read

Beneficial Ownership Reporting: What You Need to Know Before 2024

Beginning January 1, 2024, companies will need to report their ...
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David Ovesen, CPADecember 21, 20232 min read

Benefit Plan Audit Overhaul: What You Need to Know

Recent changes by the U.S. Department of Labor (“DOL”) have redefined ...
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Sheryl GradyOctober 27, 20234 min read

Accurate Estimates: The Key to Construction Success

Successful construction companies depend on creating accurate ...
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Sheryl GradyOctober 27, 20234 min read

What NFPs Need to Know About New IRS E-Filing Requirements for 2023

Nonprofit organizations must keep up with a rather large amount of ...
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Kyle Pacheco, CPA, CCIFPSeptember 26, 20234 min read

Contractors: Here's 6 Ways to Increase Your Cash Flow

Contractors who want to be considered for and take on larger, more ...
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Tylynn BrownJuly 25, 20234 min read

A Simple Guide to Activity-Based Costing for Construction Companies

Construction is an expensive business. Materials keep going up in ...
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Patrick Reilly, CPAJuly 25, 20234 min read

Preparing for an ERC Audit? Here's Everything You Need to Know Now

The U.S. Congress passed multiple bills during the COVID-19 pandemic ...
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LGT StaffJuly 25, 20235 min read

Fraud-Proof Your Nonprofit: 10 Critical Steps for Protection

Fraud can have detrimental effects on not-for-profit organizations ...
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Justin Lewis, CPAJune 27, 20233 min read

Did Congress Just Provide Funding for Your Not-For-Profit?

The Consolidated Appropriations Act (CAA) of 2023 became law on ...
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Aden Pham, CPAJune 27, 20234 min read

Answering FAQs from the Latest Updates on Residential Energy Credits

The Inflation Reduction Act of 2022 (IRA) touched on a wide variety ...
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LGT StaffJune 27, 20234 min read

10 Manufacturing Incentives in the Inflation Reduction Act

The Inflation Reduction Act (IRA) of 2022 provides billions of ...
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Tylynn BrownJune 27, 20236 min read

The 12 Most Common Tax Scams Everyone Should Know

Every year, the IRS compiles a list of 12 tax scams that could target ...
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LGT StaffMay 23, 20235 min read

8 Small Business Accounting Errors You Could be Making

Many small business owners love running their business, whether it be ...
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LGT StaffMay 22, 20236 min read

8 Ways Inflation Rates are Changing Your Financial Statements

The impact of inflation on a company's financial statements can vary ...
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Babita Sherchan, CPAApril 25, 20234 min read

How New Markets Tax Credits Can Benefit Nonprofits

Nonprofit organizations (NPOs) that serve low-income communities ...
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LGT StaffApril 25, 20232 min read

7 Tips on Preparing Your Business in a Downturn

As a business owner, preparing for a downturn is crucial to your ...
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Cindy TorresMarch 28, 20233 min read

Preparing Your Not-For-Profit for an Audit Under ASC 842

A set of accounting standards for leases is now mandatory for most ...
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LGT StaffFebruary 22, 20234 min read

Understanding the Inventory Turnover Ratio

If you run a manufacturing and distribution (M&D) company, ...
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LGT StaffJanuary 25, 20234 min read

5 Reasons Internal Audit Functions are Vital for Your Business

An internal audit uses resources within the company to critically ...
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