2027 might sound far away. From an accounting perspective, it isn’t. Some changes that take effect in 2027 will affect how businesses file information returns, maintain accounting records, and, in certain cases, apply U.S. GAAP. And while not every new accounting standard applies to every small business, there’s a bigger lesson here for CFOs, finance directors, property managers, and business owners: The best time to prepare for next year’s accounting changes is before next y

If you run a business in the Bay Area, you already know: compliance isn’t just a box to check. It’s a moving target. Between California’s evolving labor laws, city-level tax requirements, and increased enforcement, 2026 is shaping up to be a year where “good enough” bookkeeping won’t cut it anymore. What used to be minor oversights, like misclassified workers, messy payroll records, or inconsistent reporting, are now triggering audits, penalties, and unnecessary stress. The g

Navigating BOI Filing: The Shift to Voluntary Reporting and Its Implications In the evolving landscape of business compliance, staying abreast of regulatory changes is crucial for business owners. One significant development that has captured attention is the Beneficial Ownership Information (BOI) filing. Recently, filings have shifted from mandatory to voluntary, and understanding this change is essential for strategic planning. What is BOI Filing? BOI filing involves submit

In recent legislative moves, California has introduced new laws aimed at enhancing fee transparency across various sectors. Among these is Senate Bill 478 (SB 478), set to take effect on July 1st, 2024, which holds significant implications for food and beverage establishments. Additionally, a new bill, Senate Bill 1524 (SB 1524), is under consideration, proposing an exemption for these businesses under certain conditions. This blog will delve into what these laws entail and t

The U.S. Department of Labor (DOL) has published a final rule that will change the test for determining whether a worker is an employee or independent contractor under the Fair Labor Standards Act (FLSA). The final rule takes effect March 11, 2024. These updated rules consider six factors to determine if an independent contractor working for a business should be reclassified as an employee. ADP's HR Tip of the Week delves into the details!