S Corporation Reasonable Compensation: A Tax Planning Chapel Hill Guide
What S corporation shareholder-employees need to know before year-end for tax planning Chapel Hill. Every S corporation shareholder who performs services for the business must be paid a reasonable salary before the corporation makes any distribution to that shareholder. This requirement is not optional, and it is one of the most consistently misunderstood rules in […]
Common Single Audit Findings: 7 Problems Nonprofits Can Prevent Before the Auditors Arrive
Avoid common Single Audit findings before fieldwork begins. Learn seven grant compliance problems nonprofits can identify and correct throughout the year.
Bookkeeping Isn’t Enough: When Your Business Needs a Controller or CFO
Bookkeeping is where the financial function starts for most businesses, and for a while, it may be all a business needs. Knowing when your business needs a controller or CFO instead starts with understanding what each of these roles actually does. Someone records the transactions, reconciles the bank accounts, pays the bills, processes payroll, and […]
Tax Planning Vs. Tax Preparation
Many people use the terms tax preparation and tax planning interchangeably. Both involve taxes, and both may be handled by the same CPA firm, but when it comes to tax planning vs. tax preparation, they are distinctly different services. The simplest way to explain the difference is this: Understanding that distinction can help individuals and […]
Under $1 Million? North Carolina Nonprofit Audit Requirements You Still Can’t Ignore
So do North Carolina nonprofit audit requirements still apply to you? Mostly yes — just not the way you’d expect. You probably heard some good news recently and felt your shoulders drop an inch. The single audit threshold went up. For years, the number that mattered was $750,000 in federal spending — cross it, and […]
FQHC Accounting: Are You Capturing Every Wrap-Around Payment?
If you manage the money at a federally qualified health center, you already know that FQHC accounting doesn’t look like accounting anywhere else. You’re juggling grant compliance, sliding-fee scales, cost reports, and a payer mix that would make most finance directors’ heads spin. And somewhere in that mix is a pool of money that a surprising number […]
Is Your Business Ready for the Second Half? 5 Financial Questions Every Owner Should Be Asking Right Now
As a Fractional CFO serving Chapel Hill business owners, one of the most common things I hear in the summer is: “I’ve been too busy to look at my numbers.” But here’s the thing — the middle of the year is actually one of the best times to take a hard look at where your […]
You Didn’t Start a Business to Become an Accountant
Running a business means wearing a lot of hats — but small business accounting doesn’t have to be one of them. Rose Group CPAs helps business owners in Chapel Hill, Pittsboro, and Tallahassee get their finances working for them.
The Money You Made Isn’t All Yours: What New Business Owners Learn Too Late
When you work for yourself, nobody withholds your taxes. Here’s what small business owners need to know about tax timing, quarterly payments, and why April is too late to start planning.
Working for Yourself Isn’t Freedom—It’s Responsibility (And That’s Not a Bad Thing)
The Myth of “Being Your Own Boss” A lot of people dream about working for themselves because they want freedom. Freedom from a boss.Freedom from office politics.Freedom from schedules, approvals, meetings, and performance reviews. And yes — owning a business can create freedom. But there’s something people usually discover after they make the leap: Working […]