News & Updates

Beneficial Ownership Information Reporting – New for 2024

Beneficial Ownership Information Reporting – New for 2024

Starting January 1, 2024, many U.S. companies will be required to report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). This new requirement aims to combat money laundering, terrorist financing, and other illicit...

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Backdoor Roth IRA: A Financial Planning Strategy

Backdoor Roth IRA: A Financial Planning Strategy

Each year, one of the most discussed financial planning topics centers around the Roth IRA, including the slightly more complex Backdoor Roth IRA.  Contributing to a Roth IRA through traditional means or through the backdoor strategy provides many potential tax...

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Boosting Investor Trust with Attestation Services

Boosting Investor Trust with Attestation Services

In today's interconnected world, investors have access to a wider range of investment opportunities than ever before. However, with this increased choice comes the challenge of assessing the risks and rewards of each investment. One way to boost investor trust is to...

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Assurance in Attestation: What it Means for You

Assurance in Attestation: What it Means for You

In today's intricate financial landscape, the term "assurance" has become synonymous with trust and reliability, verification, and validation in business. Grapp Lerash, with its unwavering commitment to client care, emphasizes that beyond the complexity of this term,...

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Accrual vs Cash Accounting: Recognizing Cash and Expenses

Accrual vs Cash Accounting: Recognizing Cash and Expenses

In the intricate world of accounting, two methods stand prominently: Accrual basis and Cash basis Accounting. While both offer unique insights into a business's financial health, understanding the fundamental differences between them is crucial for financial decision...

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Understanding Estimated Tax Payments

Understanding Estimated Tax Payments

  Estimated tax payments are an essential part of the tax system for individuals and businesses in the United States. They help ensure that taxpayers meet their tax obligations throughout the year rather than in one lump sum during tax season. In this brief...

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AFS – First Notices Have Gone Out

AFS – First Notices Have Gone Out

The Cannabis Regulatory Agency (CRA) sent out first notices to licensees with Annual Financial Statements (AFS) due June 30, 2023. These notices detail the requirements to submit an AFS, the reporting period, the due date, and which licenses must be included in the...

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