Russell Bedford - USA
Construction Accounting: How to Maintain and Review a Work In Progress Schedule
June 2025
Whether you are a general contractor or a subcontractor, reviewing, updating, and maintaining your work in progress (WIP) schedule is a never-ending process. With multiple active projects, keeping it up-to-date can feel overwhelming. You may have even asked yourself why do we go through this process every month? Is there a more efficient way to review our WIP schedule? What should I be looking for? How can I spot early signs of job performance issues? The key to answering these questions lies in understanding the key components of the WIP schedule and how it drives revenue recognition.
Navigating IRS Audits and Due Diligence: Expert Advice for Travel Nurse Staffing Firms
June 2025
In the complex world of travel nurse staffing, ensuring compliance with IRS regulations is crucial to maintaining a smooth operation and preparing for future transactions. Whether you're planning for a potential sale or simply want to safeguard against a detrimental IRS audit, thorough preparation and adherence to rules are key. Below, we discuss vital aspects every staffing firm should consider to remain audit-ready and attractive to potential buyers.
MATOS & JAWAD PLLC
June 2025
As we enter June, several key tax deadlines approach. We encourage all individuals and businesses to review the applicable dates and ensure timely compliance with all filing and payment obligations.
Congress Is About to Terminate Environmental Tax Credits. Taxpayers Need to Act Quickly to Qualify
May 2025
The legislative landscape of environmental tax credits may soon change significantly, as “The One, Big, Beautiful Bill” awaits Senate approval following its passage by the House of Representatives on May 22, 2025. This proposed legislation aims to sunset several critical environmental tax credits by December 31, 2025, instead of the original end date of December 31, 2032. Although not yet law, the bill’s passing in the Senate could mean an expedited deadline for those considering investments in environmentally friendly projects. Taxpayers are therefore urged to act swiftly if they are considering any of these opportunities.
Secure Your Legacy with WBL's ESOP Service
May 2025
Employee Stock Ownership Plans (ESOPs) are becoming an increasingly popular option for business owners looking to transition ownership while maintaining the company's legacy and providing benefits to employees. Here are some compelling reasons why you should consider an ESOP for your business:
Modern vs. Legacy Accounting Software: Is It Time for an Upgrade?
April 2025
Technology is advancing at an exponential rate. To put this into perspective, it took 2.4 million years for our ancestors to discover and control fire for basic needs, yet only 66 years passed between the first airplane flight and having humans landing on the moon. Knowing this, if your accounting software looks and feels like it was designed in the early 2000s, it’s probably time for an upgrade. Here’s why:
What is the Returning Citizens Credit?
April 2025
Is your business fully leveraging available tax credits? The Returning Citizens Credit is a valuable incentive that could reduce your tax liability while supporting workforce reintegration for formerly incarcerated individuals.
Tax Season Cleanup: Which Records Can You Toss?
April 2025
If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. The documentation needed to support a tax return may include receipts, bank and investment account statements, K-1s, W-2s, and 1099s. How long must you save these records? Three years is the general rule. But don’t be hasty: Failure to keep a paper trail for the information reported on a tax return could lead to problems if the IRS audits it.
Business World March 2025
March 2025
Russell Bedford International has released the March 2025 edition of its biannual magazine, BUSINESS WORLD.
Unveiling the Hidden Costs: How Non-Compliance in Foreign Asset Reporting Could Lead to Substantial Penalties
March 2025
In an increasingly globalized world, many U.S. taxpayers find themselves with financial interests or assets located outside the United States. Whether through inheritance, investment, or business ventures, these foreign assets come with specific reporting requirements mandated by the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN). Understanding these requirements is crucial to avoid severe penalties. This article explores the various forms and thresholds involved in foreign asset reporting, including the FBAR (FinCEN Form 114), Form 8938, and others, while also highlighting common scenarios where individuals might unknowingly hold foreign accounts.
Russell Bedford delighted to share global results relative to peers
March 2025
Russell Bedford is proud to be a network of independent member firms with an externally approved Annual Quality Control process. This year, Russell Bedford has reverted to first principles in calculating its ranking. As such, we are delighted to announce that we are the 16th largest network in the world based on being a recognised network by the Forum of Firms, with revenues generated by our network members.
Firm Focus: WBL CPAs + Advisors
March 2025
Founded in 1982, WBL CPAs + Advisors offers audit, accounting, advisory, transaction, family office and tax services for domestic and international middle-market companies, nonprofit organizations and high net-worth individuals.
Zero-Based Budgeting: The Bold Way to Stop Wasting Money and Start Growing
March 2025
Picture this: You’re hunched over last year’s budget, crossing out line items you think you can live without. And then what happens? The same stuff makes it back on the list anyway. Why? Because “that’s what we spent last year,” right?
Russell Bedford International releases 2024 Global Performance Report
February 2025
Russell Bedford International is proud to present the network's 2024 Global Performance Report, showcasing another year of remarkable progress and expansion.
Russell Bedford International North America Conference 2025
February 2025
The Russell Bedford International North America Conference 2025 in New Orleans, USA, brought together members from across the region for insightful discussions, valuable networking, and strategic planning for the future.
Selling a Business? Get Peace of Mind with an Experienced CPA Firm
February 2025
Selling a business is a significant financial endeavor that involves a multitude of complexities and considerations. Whether you’re a seasoned entrepreneur or a first-time business owner looking to move on to new ventures, the process can be both exciting and overwhelming. One key element that can greatly contribute to a successful business sale is partnering with an experienced Certified Public Accountant (CPA) firm. A CPA firm brings a wealth of financial expertise and strategic insight to the table, ensuring that every sale aspect is meticulously planned and executed.
Navigating Audit Preparedness: Your Friendly Guide to a Smooth Financial Statement Audit
January 2025
In the bustling world of business, audits are a vital part of validating the accuracy and integrity of financial statements. But let's face it, the audit process can sometimes be a bit of a marathon and a source of stress. As Director of Assurance at WBL CPAs + Advisors, I have had the privilege of witnessing how a well-prepared organization can make their audit process a breeze. So, here is a handy guide to help you gear up for your next financial statement audit.
Choosing a Business Structure for a Startup: What’s the Best Legal Entity for My Business?
December 2024
Starting a business is an exciting journey that requires careful consideration, planning, and decision-making, especially when it comes to selecting the right business structure for startup. As an entrepreneur, you know that your business’s legal entity has significant implications for liability, taxation, management, and more, so it’s critical to choose wisely.
SEC Adopts Rule to Provide Greater Transparency of Short Sale-Related Data by Institutional Investment Managers
October 2024
On October 13, 2023, the Securities and Exchange Commission adopted new Rule 13f-2 (Release No. 34-98738) and related Form SHO and an amendment to the national market system plan governing the consolidated audit trail to provide greater transparency to investors and other market participants by increasing the public availability of short sale-related data.
Navigating FinCEN BOI Reporting
September 2024
If you have an established company or are planning to start a new venture, it’s crucial to be aware of the new FinCEN BOI reporting requirements.
Unlocking Cash Flow: How Tax Credits Can Fuel Your Small Business
August 2024
If you’re running a small or medium-sized business, you know that cash flow is everything. Keeping up with payroll, replenishing inventory, and funding growth can feel like a never-ending balancing act. But what if there was a hidden way to free up cash? Enter tax credits. These aren’t just numbers on a financial statement; they’re tools that can give your cash flow the boost it needs. Let’s explore how you can unlock these hidden advantages and give your cash flow a much-needed boost.
Tax Implications of Downsizing: What Baby Boomers and Gen X Need to Know
July 2024
Remember when “downsizing” was something you did to your closet every spring? Now, it’s a buzzword for a major financial move: selling the big family home to streamline expenses, pocket extra cash, or fund that dream RV trip. Especially for Baby Boomers and Gen Xers stepping into retirement territory, downsizing isn’t just about purging your dusty attic—it’s about deciding how you want to live the next chapter of your life.