Topic
Is your chart of accounts an unnecessarily complex maze?
In the fast-paced world of business, growth often leads to complex challenges, especially in accounting. A common issue many organizations face as they expand is the management of increasingly lengthy account numbers. These numbers, which detail segments of transactions such as location, department, and grants, can become unwieldy as organizations rise to meet new challenges. […]
Navigate Finance Team Disruptions and Ensure Continuity
Editor’s Note: This article was originally published in 2024 and was updated in June 2025 for accuracy and relevance. An abrupt change or turnover in the finance function requires a swift and strategic response. Losing a key figure in the department, for example, may leave your company vulnerable, creating an immediate need for financial oversight and […]
Janice O’Reilly Discusses Financial Strategies for Cannabis Industry at MJ Unpacked
At the 2024 MJ Unpacked event, held November 5-7 in St. Louis, Missouri, AAFCPAs’ Janice O’Reilly, CPA, CGMA, Partner shared valuable insights with Highly Capitalized Network on navigating the complex financial landscape of the cannabis industry. MJ Unpacked is the nation’s only cannabis industry trade event with exclusive attendance for licensed operators, researchers, and investors. […]
Federal Court Temporarily Halts BOI Reporting Requirements
A federal district court in Texas has issued a nationwide preliminary injunction halting enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements. The ruling, issued on December 3, 2024, found that the CTA likely exceeds Congress’ constitutional authority and temporarily suspends the January 1, 2025, reporting deadline for businesses. […]
From the Desk of Kevin Hodson: New Retirement Savings Limits and the Impact of Cost of Living
With the conclusion of this year, let’s welcome the opportunities of the next. Following are updates on retirement savings limits and their impact on your financial planning. Also, let’s consider the rising cost of living on your financial strategies. New Retirement Savings Limits and Catch-Up Contributions Starting next year, there are significant changes to the […]
From the Desk of Andrew Hammond: 529 to Roth IRA Rollovers
As we get closer to the end of the year, I wanted to share some exciting news about a new financial strategy that may benefit your family’s long-term financial health. This strategy involves using 529 plans and Roth IRAs to make the most of your savings and investments. A New Opportunity: 529 to Roth IRA […]
IRS Increases Tax-Free Charitable Giving Limit for IRA Owners
In a recent announcement, the IRS increased the annual limit for tax-free charitable donations from IRAs, allowing eligible IRA owners aged 70½ and older to give up to $105,000 tax-free in 2024. These contributions, known as Qualified Charitable Distributions (QCDs), may help reduce taxable income while also benefiting eligible charitable organizations. For those aged 73 […]
Optimize Q4 Budget Planning
In this article: During the fourth quarter, it is critical that organizations evaluate financial performance, finalize plans, and set priorities for the year ahead. It is a time to refine budgets, align strategies with goals, and prepare for challenges while building a foundation for success. The Q4 budgeting process ensures resources are allocated effectively, key […]
From The Desk of Carmen Grinkis: Social Security Optimization
Social Security benefits can be a financial lifeline for many, yet the complexity of the system often leaves significant opportunities unnoticed. There are many rules and formulas that can be difficult to understand—and the Social Security Administration won’t inform you that you have unclaimed benefits. We recently worked with a client who uncovered more than […]