News & Insights
Eligible IRA Owners can Donate More to Charity in 2024
The Internal Revenue Service reminds individual retirement arrangement (IRA) owners age 70½ and older that they can make up to $105,000 in tax-free charitable donations during 2024 through qualified charitable…
Continue ReadingDeadline Approaching for Corporate Transparency Act/BOI Reporting
The Corporate Transparency Act (CTA), ratified into law on January 1, 2021, advances the agenda of deterring criminals from infusing their illicit funds into the U.S. financial system. For most eligible…
Continue ReadingYear-end Tax and Financial Planning for Small Businesses
As we approach the end of 2024, it’s important to take a closer look at your tax and financial plans and discuss steps to reduce taxes and help you save for your future. With a new administration on…
Continue ReadingYear-end Tax and Financial Planning for Individuals
As we close out 2024, now is the time to review your tax and financial strategies and explore opportunities to reduce your tax burden and bolster your future savings. With a new administration incoming…
Continue ReadingBlog: 10 Resolutions to Boost Your Company’s Value
As we approach the close of 2024 and look ahead to 2025, many business owners are focused on transformation and growth. If increasing your company’s value is your goal, consider these New Year’s resolutions…
Continue ReadingHurricane Updates: IRS Tax Related Assistance and Warning about Charity Scams
In the wake of the devastating hurricanes that have ravaged Florida and the Southeast in recent weeks, the Internal Revenue Service warned about charity scams and reassured victims that it stands ready…
Continue ReadingBlog: Challenges Faced by Not-for-Profit Organizations in Adopting the New CECL Standard
By: Cristopher Sefransky, CPA, CFE, LSSGB Our industry is well over a year into implementation of the transitional guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Update…
Continue ReadingBlog: The Unexpected Key to Achieving Your Goals
As 2024 enters its final quarter, you’re likely reflecting on your business objectives for the next year. Perhaps you’re aiming to establish a recurring revenue stream, hire a general manager, or start…
Continue ReadingHaefele Flanagan Honored as NJBIZ 2024 Best Places to Work
NJBIZ asked and our employees answered. The outcome? Haefele Flanagan is a NJBIZ Best Place to Work! The 2024 honorees, categorized by small (15-49 employees), medium (50-249 employees), and large (more…
Continue ReadingSmart Savings: 529 Plan to Roth IRA
The SECURE 2.0 Act, passed at the end of 2022, introduced over 100 measures aimed at enhancing American savings. Among these is a provision allowing up to $35,000 in unused funds from a Sec. 529 education…
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