Taren Elso's Accounting Blog

Offering retirement and health benefits is a great way to attract and retain top talent. But with these perks come significant responsibilities—especially fiduciary and regulatory obligations that must be met to remain compliant under federal law. For businesses approaching or exceeding 100 eligible participants in a benefit plan, an Employee Benefit Plan Audit is not just a good practice—it’s a legal necessity. While many employers view audits as a routine task to satisfy Department of Labor (DOL) or IRS requirements, forward-thinking companies recognize the audit as a strategic opportunity. With the help of experienced EBP Audit Services, your organization can strengthen internal controls, identify inefficiencies, and improve employee confidence. This article explores why a comprehensive Employee Benefit Plan Audit is essential, how EBP Audit Services support compliance and governance, and why businesses should view these audits as an investment in operational integrity—not just a ch...

In today’s highly competitive market, maintaining a business’s financial health requires more than just recording transactions. It takes time, precision, and constant monitoring—all of which can burden business owners, especially in small to mid-sized companies. This is where Outsourced Bookkeeping Services come in—not just as a cost-cutting solution, but as a strategic investment that enhances efficiency and supports growth. From improving compliance to freeing up leadership bandwidth, Outsourced Bookkeeping is reshaping how U.S. businesses manage their finances. What Is Outsourced Bookkeeping? Outsourced Bookkeeping refers to delegating your business’s bookkeeping tasks to a third-party firm or professional. These specialists handle everything from recording daily transactions and reconciling accounts to generating financial reports—all without occupying physical space in your office. Using cloud-based tools and accounting software, they work remotely while giving you real-time acces...

Tax season often brings a wave of stress and complexity for businesses across the United States. With ever-changing IRS regulations, growing compliance demands, and the constant risk of costly errors, managing taxes in-house can become overwhelming. That’s why a growing number of companies—from small business owners to CFOs of mid-sized firms—are turning to outsourcing tax preparation as a strategic move. Tax preparation outsourcing doesn’t just cut costs. It unlocks efficiency, boosts accuracy, ensures compliance, and allows your team to focus on what truly drives growth. Here’s a deep dive into the key advantages—and how this approach can transform your business. 1. Improves Accuracy and Ensures Compliance One of the biggest benefits of outsourcing tax preparation is the improved accuracy of filings. Professional tax firms specialize in U.S. tax codes, IRS regulations, and state-specific requirements. Their expertise significantly reduces the risk of errors, penalties, or audits—giv...

Accurate and timely tax compliance is vital for maintaining financial health and avoiding costly legal consequences. However, managing tax obligations in-house can drain time, money, and resources—especially for small and mid-sized companies. That’s why many U.S. businesses are turning to Outsourcing Tax Preparation as a strategic solution to streamline operations, ensure accuracy, and focus on growth. From lowering operational costs to accessing expert tax knowledge, Tax Preparation Outsourcing has emerged as a powerful tool for navigating the complex U.S. tax system. Here’s a closer look at the top advantages of this modern approach. Access to Specialized Tax Expertise Tax regulations in the U.S. change frequently. Through Outsourcing Tax Preparation, businesses gain access to professionals with up-to-date knowledge of IRS rules, state-specific codes, and industry-specific deductions. These experts ensure compliance, minimize audit risk, and uncover potential savings that might go un...