Insights
Karol Y. Haugan Named Woman to Watch Nominee, Emerging Leader Category
Withum is proud to share that Karol Y. Haugan, Tax Manager, was nominated for the Florida Institute of Public Accountants (FICPA) 2024 Woman to Watch Awards in the Emerging Leader category. The FICPA’s Women to Watch Awards is an annual program that recognizes outstanding women in the accounting profession, celebrating two categories of emerging and…
AI Integration in Business Processes: The Reality of Training, Judgment and Practical Use
As businesses increasingly look into AI integration for various processes, a common concern is the reliability of these systems. While AI integration promises efficiency and innovation, it also brings challenges, particularly around accuracy and trust. A recurring conversation with clients highlights these concerns: Client: “We are thinking about deploying AI in a business process X….
How Tipping Culture is Hurting the Restaurant Industry
By Allison Katz
Tips are a staple of the restaurant industry and are currently under scrutiny as there is a wave of frustration with customers that is resulting in less tipping or no tipping at all. This has a wide array of impact to restaurants, from the employees, in both the front and back of the house, all…
Optimizing Family Office Accounting: What to Look for in Your Next ERP System
By Allison Katz
Today, Family Office growth presents a unique set of challenges, especially regarding financial management systems. As Family Offices grow their portfolios and operations, QuickBooks — once a dependable option for smaller businesses — becomes less and less viable to manage Family Office accounting. To fuel growth and overcome these challenges, it’s a good idea to…
Federal Income Taxes Are Set To Skyrocket
By Allison Katz
S Corporation shareholders and partners in a partnership could see their effective federal income tax rate increase by 30% by the end of December 31, 2025, due to the expiration of certain tax laws. With the sunsetting of the 199A deduction and an increase in individual federal income tax rates scheduled to occur as of…
Research & Development (R&D) Tax Credits: What Technology Companies Need to Know
The R&D tax credit is a tax incentive that encourages companies to invest in research and development activities in the United States. The credit is available to businesses that engage in qualifying R&D activities, such as developing new or improving existing products, processes or software. For technology companies in the United States, there have been…
340B Drug Pricing Disputes: A Closer Look at the New ADR Process
By Allison Katz
The 340B Drug Pricing Program allows eligible healthcare organizations and covered entities to access outpatient drugs at significantly reduced prices. It provides discounted medications to safety-net providers, such as hospitals, clinics, and health centers, which serve uninsured and low-income patients. The 340B Administrative Dispute Resolution (ADR) process is designed to assist 340B covered entities and…
Form 5500 Filings: Steps to Avoid Costly Penalties
Originally Published: September 2021 | Updated: June 2024 Failed to file Form 5500 in past tax year(s)? You may be subject to penalties from both the IRS and DOL. Here are steps to avoid Form 5500 penalties. What is Form 5500 and Who is Required to File? The Form 5500 Series is an important compliance,…
Can Investing in Managed ERP Services Future Proof Your Business?
By Allison Katz
Staying competitive in your industry means embracing digital transformation. Enterprise Resource Planning (ERP) solutions have become indispensable tools for managing core business processes efficiently. However, implementing and effectively maintaining these modern cloud systems can be complicated and costly, creating significant challenges for organizations aiming to future-proof their operations. The Complexity of ERP Systems Modern Cloud…