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As the U.S. entered 2021, many assumed that newly elected President Joe Biden along with Democratic majorities in the House and Senate would swiftly enact tax increases on both corporations and individuals to pay for the cost of proposed new infrastructure and social spending plans, potentially using the budget reconciliation process to do so. Since

As we approach year end, now is the time for individuals, business owners, and family offices to review their 2021 and 2022 tax situations and identify opportunities for reducing, deferring, or accelerating tax obligations. Areas potentially impacted by proposed tax legislation still in play should be reviewed, as well as applicable opportunities and relief granted

As we continue to pray for the victims of the Miami condo collapse tragedy, we are also preparing for the likelihood that condo associations will come under increased scrutiny following this event. Does your CPA firm have experience with the unique financial challenges condo associations must manage? If not, we can help. As this article

Cavanaugh & Co. is Growing – We are on the List of Best Places to Work in 2020 The accounting industry offers many rewarding opportunities for skilled professionals. As Cavanaugh & Co. grows, we welcome new staff members on a regular basis.  We are pleased to announce that our company was selected as one of

As a nonprofit, you’re always looking for ways to get more donations of money and goods, depending on the type of nonprofit. In the wake of COVID-19, you may find yourself on shaky financial footing, between people needing the help of nonprofits and others unable to donate. Without money or goods, your nonprofit can’t help

If you are a small business owner, then there is no doubt you understand the vital importance of keeping accurate financial records. From fraud prevention to cash flow analysis, there are so many reasons why accounting’s role in day to day business operations is so crucial to the ultimate success of the company. One decision

Families have multiple financial obligations. If you are not careful, managing your personal, family, and business finances can be tricky when you have a family. The professionals at Cavanaugh & Co handle your family’s financial considerations with respect due to years of experience providing custom CFO, accounting, and consulting services. These services are for family

According to the Small Business Administration, about half of all newly established businesses last five years or more. Only a third survive to the ten-year mark. For a variety of reasons, companies that possess the stamina and skill to endure the early years of growth sometimes flounder as the business matures. Why? In all too

If you commute back and forth to work every day, you typically can’t deduct any of your travel costs, such as gas for your car or commuter fares. The IRS says these commuting expenses are nondeductible personal expenses. However, there are some special situations when your commuting costs may be deductible: 1. Business stops It

If you have been managing your business for a number of years now you might be considering an exit strategy. But doing so takes planning. How will you get your money out of the business? How much will you take out? Will you liquidate company assets or transfer ownership to someone else? How long do