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Several noteworthy updates have been made since the initial release of the proposed Fiscal Year 2025 Budget from the U.S. House of Representatives. While many tax-related provisions remain, the updated proposal now includes additional measures related to spending, legislative procedure and regulatory policy. With the budget resolution formally passed by both chambers of Congress as…

Understanding the advantages and disadvantages between an S-Corporation (S-Corp) and a Limited Liability Company (LLC) is crucial for entrepreneurs launching a new entity. Both structures offer unique benefits and drawbacks, particularly when it comes to taxation. Let’s explore the pros and cons of each structure to help you determine the best fit for your business…

Cryptocurrency has evolved from a niche financial experiment into a global phenomenon, influencing everything from investment strategies to payment systems. As digital assets like Bitcoin, Ethereum, and stablecoins gain mainstream adoption, regulators worldwide are working to keep up. For taxpayers and businesses, understanding the tax implications and compliance requirements of cryptocurrency transactions is crucial. In…

If you’ve ever put together an annual budget only to realize a few months later that it’s already outdated, you’re not alone. Business conditions change fast—unexpected expenses pop up, revenue doesn’t always hit projections, and market shifts can throw your carefully planned numbers out the window. But if you’re stuck with a static budget, adjusting…

For decades, certain public sector employees, such as teachers and government workers, faced restrictions in claiming Social Security spousal and survivor benefits due to provisions like the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These rules significantly reduced or eliminated Social Security benefits for individuals who received pensions from employment not covered…

Every February 2, we turn to a groundhog to predict whether spring will come early or if winter will linger. This quirky tradition also reminds us of the 1993 movie Groundhog Day, where the main character finds himself stuck living the same day over and over again. For many taxpayers, tax season can feel eerily…

For small businesses, cash flow management is more than just an accounting task—it’s a strategic necessity. Cash flow refers to the movement of money in and out of a business, covering everything from paying suppliers and employees to collecting revenue from customers. While profitability is essential, it’s the actual cash flow that allows businesses to…

The start of a new year is a great opportunity to set financial goals, review your current financial situation, and establish habits that lead to long-term stability and growth. Here’s a comprehensive guide to help you and your business kick off the year on the right foot financially and maintain that momentum throughout the year.…

Businesses should start preparing for the upcoming payroll tax and 1099 filing season. This time of year can be stressful, but with proper planning and the right tools, you can ensure compliance and minimize headaches. F+H is here to help guide you through this process, providing timely advice and support to make this season easier…