INSIGHTS

Thoughtful
thoughts from
the thinkers at
Larson Gross.

The Hidden Cost of “Good Enough” Accounting Systems

Many businesses delay accounting system upgrades because their current software still functions. However, manual processes, spreadsheets, and system workarounds often create hidden costs through increased labor, reporting delays, higher risk, and reduced scalability. Learn how to evaluate the true cost of a "good enough" accounting system and identify opportunities to improve efficiency and support growth.

Summer Jobs, Side Hustles, and Summer Tax Problems

Summer jobs and side hustles can feel like easy extra money, but without the right planning, that income can turn into a surprise tax bill next April. From W-4 mistakes and self-employment taxes to new 1099 reporting thresholds, there are more ways to get tripped up than most families realize. Read on to learn the most common summer tax pitfalls and exactly what you can do right now to avoid them.

Tax Strategies For Rising Income

A jump in income is good news, but it also triggers a chain of tax decisions that most people don't see coming until it's too late to act. From phaseouts and surcharges to retirement account mismatches and withholding gaps, the real planning opportunity happens before year-end, not at tax time. Here's what you need to know to stay ahead of a higher tax bracket.

Post-Tax Season Checklist for Small Business Owners

Tax season may be over, but your completed return holds valuable insights that can help you run a stronger business for the rest of the year. From fixing your bookkeeping systems and building a mid-year budget to reviewing worker classifications and your business insurance, there are five key areas worth addressing while the numbers are still fresh. Taking action now, rather than waiting until the next deadline, puts you in a far better position heading into year-end.

Could You Be Eligible for a Refund of COVID-Era IRS Penalties?

A recent court decision may create refund opportunities for taxpayers who paid IRS penalties or interest during the COVID-19 emergency period. Learn who may qualify and why July 10, 2026, could be an important deadline.

AI in Construction: Practical Value, Real Risks, and the Need for Guardrails

Construction companies face growing cybersecurity risks as digital tools, cloud platforms, and email-based workflows become central to daily operations. This article outlines practical cybersecurity strategies construction firms can use to reduce risk, prevent operational disruptions, and strengthen business resilience through layered security and employee awareness.

Saving for a Child’s Future Starts Earlier Than Ever – Enter Trump accounts vs. Other Options

Families today have more ways than ever to save for a child’s future, from 529 plans and custodial accounts to emerging “Trump Accounts.” This article explores the pros, tradeoffs, and planning considerations behind each option, helping parents and grandparents build a long-term strategy that aligns with their financial goals.

IRS Notices CP53E and CP30A: What to Know

IRS CP53E and CP30A notices are causing confusion for many taxpayers. Learn what these notices mean, why you may receive them, and when to contact your advisor.

Cybersecurity in Construction: Why Layered Protection Matters More Than Ever

Construction companies are increasingly targeted by cybercriminals due to fast-moving operations, digital workflows, and frequent financial transactions. This article explores practical cybersecurity strategies that help construction firms reduce risk, prevent disruptions, and protect business operations through layered security and employee awareness.

Financial Red Flags We See Before Businesses Hit Trouble

Learn the most common financial warning signs businesses face before cash flow problems, margin erosion, or operational challenges escalate.

Climate Risk Is Showing Up in Your Balance Sheet—Here’s How to Stay Ahead

From rising insurance premiums to shifting property risk and regulatory pressure, climate-related financial risk is becoming a balance sheet issue. This article outlines how thoughtful tax strategy, risk management, and estate planning can help investors and business owners stay ahead while preserving long-term wealth and flexibility.

From Bookkeeping to Business Insight

Modern CAAS is transforming accounting from historical reporting into real-time insight and strategic advisory. Learn how Larson Gross helps businesses improve visibility, standardize processes, and make smarter decisions.

Turning RMDs Into a Strategic Advantage

Required Minimum Distributions often feel like a penalty for saving well, but they don't have to drain thousands in avoidable taxes. With strategic planning, especially in the years before RMDs begin, retirees can reduce future tax exposure, avoid Medicare surcharges, and maintain more control over their income. The key is moving beyond simple compliance and treating RMDs as part of a coordinated, long-term strategy.

Making Hiring Work for Small Businesses

Hiring looks different today than it did even a few years ago - and for small business owners, the result is often the same: inboxes flooded with resumes, scattered candidate folders, and great applicants slipping through the cracks. The right hiring software doesn't make the process impersonal or complicated; it gives you back control so you can focus on finding the right fit.

Which retirement plan is best for a self-employed owner: SEP, SIMPLE, or Solo 401(k)?

A practical guide to using a SEP IRA, SIMPLE IRA, or solo 401(k) strategically, covering contribution limits, deadlines, employee rules, tax planning, and when each plan makes the most sense.

WA Millionaires Tax: What Changes Now

Washington has just enacted a new tax on certain high-income individuals, marking a significant change to the state’s tax structure. The law applies to income above $1 million and is scheduled to take effect beginning in tax year 2028, with first filings due in 2029.
No results found.