Accounting, Tax, Audit & Advisory Insights
Explore the HMV Resources Hub for timely insights on accounting, tax, audit, and advisory topics.
Our articles, guides, and tools are developed by HMV professionals and enhanced through our Aprio Alliance membership, giving you access to broader perspectives and specialized expertise to navigate complex decisions with confidence.
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The Quiet Risk of State and Local Payroll Tax Reporting Gaps
Payroll tax gaps often emerge when employee work locations and tax reporting fall out of sync. Learn where exposure occurs, what is at risk, and how employers can identify and correct issues before state agencies do.
How the Treasury and the IRS Write the Tax Rules
How Treasury and the IRS interpret, administer, and enforce federal tax law, and what Loper Bright means if you disagree with a regulation.
Cash flow forecasting as a leadership tool
Most business owners rely on backward-looking financials that tell them where they have been, not where they are going. A cash flow forecast fills that gap by projecting future inflows and outflows, helping leaders spot problems early and make smarter decisions about hiring, investing, and financing. Updated consistently and tied to real business decisions, it shifts leadership from reactive to proactive.
Why homeowners need to track improvements before a sale or inheritance
As home values rise, the federal home sale exclusion may no longer be enough to eliminate capital gains tax when a property is sold or inherited. The difference between a large tax bill and a smaller one can come down to how well a homeowner documented capital improvements over the years. Keeping a permanent record of qualifying expenses is one of the simplest steps homeowners can take to protect themselves.
Financial Forecasting for Growing Contractors
In the construction industry, reliable job cost reporting tells how each project performed, but it doesn’t show the whole financial picture. The contractors who make the best decisions use that clean historical data to look forward, such as building forecasts, modeling scenarios, and tracking the metrics that signal where the business is headed.
Scholarship Tax Credits Are Going National: What To Know
Effective 2027, the Federal Scholarship Tax Credit will provide a dollar-for-dollar offset against federal income tax liability for eligible contributions.
When Does My Benefit Plan Require an Audit?
Does your benefit plan need an audit? Find out how participant counts, plan type, and the 80-120 rule determine whether an ERISA plan audit is required.
Form 990 filing mistakes that can undermine your nonprofit’s credibility
Form 990 is more than a tax return; it's a public document that donors, grantmakers, and regulators use to evaluate your nonprofit. Common mistakes in filing, reconciliation, and narrative disclosures can raise questions about financial stewardship or put your tax-exempt status at risk. This article outlines the key errors to avoid and how to build a more reliable year-over-year filing process.
FinCEN Eliminates BOI Reporting Requirements for U.S. Companies and U.S. Persons
The Financial Crimes Enforcement Network (FinCEN) has finalized a rule eliminating Beneficial Ownership Information (BOI) reporting requirements for U.S. companies and U.S. persons. For most domestic businesses, this means BOI filings are no longer required.
IRS introduces automatic penalty relief for taxpayers with a strong compliance history
The IRS is replacing its First Time Abate program with a new Automatic Exemption from Penalty (AEP), which will automatically prevent certain penalties for eligible taxpayers with a strong compliance history. Starting with 2025 tax year returns and 2026 quarterly returns, qualifying individuals and businesses may avoid failure-to-file, failure-to-pay, and failure-to-deposit penalties without needing to call the IRS or submit a separate request. Understanding the eligibility requirements and transition timeline is key to making the most of this change.
Tax mistakes new business owners make in their first profitable year
Your first profitable year in business is worth celebrating. But it can also bring expensive tax surprises, especially if you're still managing the business like you did when revenue was lower. Here are the most common mistakes new business owners make and what to do instead.
Is Your Endowment Your Greatest Resource, yet Least Understood?
Learn how to build a sustainable personal financial plan through true asset diversification, tax-efficient strategies, and integrated wealth management.
Build a Dashboard That Actually Drives Your Business
Your dashboard should do more than confirm what already happened. It should warn you before problems arrive. Learn how to identify the leading indicators that give you time to act, not just a record of what went wrong.
What Your Aging AR Report Is Actually Telling You
Your aging AR report isn't just a list of late invoices. It's an early warning system that reveals two very different cash flow problems: a system-wide slowdown in collections or a dangerous concentration of overdue balances. Learn how to read the pattern and respond the right way.
IRS provides gift tax safe harbor for Trump account contributions
The IRS just made it easier for families to fund Trump accounts without triggering an unexpected gift tax filing requirement. In Revenue Procedure 2026-25, the IRS established a safe harbor that allows qualifying donors to contribute cash to a child's Trump account and skip Form 709 entirely, as long as key conditions are met. Here's what you need to know before making contributions.
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