The knowledge you need

Earlier this month Georgia Governor Brian Kemp signed two important parcels of legislation into law. The enactment of House Bill (HB) 111 and 112 provides both tax relief and a surplus refund to full and nonresident income tax filers. The first calls for a continued reduction in the state income tax rate from then original 5.75% to 5.19% effective immediately. The second permits surplus tax refunds to be paid to eligible individuals. The maximum refund is $500 per household with smaller amounts determined by filing status.

Preparing for an ERISA plan audit often starts with understanding what the audit looks for and how daily plan operations support compliance. For plans that cover 100 or more eligible participants at the beginning of the year, the audit is a required part of filing Form 5500. But beyond meeting filing requirements, the process gives sponsors a chance to review how contributions are handled, how participant data is tracked, and how internal controls are working.

Atlanta car dealerships are constantly searching for ways to increase new and used car sales. For some this means enhancing the sales experience with new digital tools, offering online trade-in estimates, or an inventory locator. For others it is about offering competitive financing and other payment options. Regardless of the challenge, auto dealers are focused on growing the bottom line. While customer centric solutions are important, dealerships should regularly conduct benchmarking to uncover areas of opportunities and growth.  By evaluating performance against industry standards, dealerships can identify operational improvement opportunities. When properly leveraged, essential changes can lead to a stronger bottom line.

On April 3, 2025, a new 25% tariff on imported vehicles went into effect, bringing big changes for auto dealerships across the country. Nearly half of the new vehicles sold in the U.S. each year come from countries like Mexico, Canada, South Korea, Japan, and Germany. The added cost of these tariffs is expected to influence vehicle pricing, inventory decisions, and customer demand at the dealership level.

I want you to imagine hearing the three words, “You have cancer.” Sadly, this has been a reality for more than 1.2 million Americans who are fighting or are in remission from blood cancer.

Atlanta accounting and advisory firm Wilson Lewis was honored this month as one the top regional firms in the U.S.  Accounting Today named Wilson Lewis a 2025 Regional Leader in the Southeast, recognizing the firm on the prestigious list as part of the publication’s annual Top 100 Firms survey.

Pass-through entities (PTEs), including partnerships, S corporations, and certain LLCs, make up a large share of U.S. businesses. These structures offer tax advantages by allowing income and losses to “pass through” to owners, avoiding double taxation at the corporate level. Despite the tax advantages, there are several rules that must be carefully followed including the reasonable salary requirement. Maintaining compliance with these regulations is essential to avoid any IRS scrutiny. This is especially important because the IRS has announced an expected increase in the number of partnership audits. With the renewed attention, businesses should be aware of key audit risk factors that can trigger an examination.

Procurement fraud is one of the most reported economic crimes, yet many businesses don’t realize they are at risk. Some assume fraud is only a concern for large corporations. Others believe internal controls are strong enough to prevent it from occurring. Procurement fraud can be hidden in everyday activities, from how contracts are awarded to the way invoices are processed. Without realizing it, companies may violate regulations and face legal, financial, and operational jeopardy

New tariffs are pushing up the cost of key materials used in construction and real estate development. A 25% tariff on imported steel and aluminum is already in effect, and additional tariffs may take effect in early April. With construction costs already high and supply chains still recovering from past disruptions, these trade policies are introducing more uncertainty into project planning and budgets. For businesses that rely on imported materials, the coming months could bring higher costs, potential delays, and sourcing challenges

The majority of businesses in the United States (about 95%) are structured as pass-through entities. These companies do not pay corporate income tax. Instead, profits and losses “pass through” to owners, who then report the income on individual tax returns. This can be confusing, especially considering how profits flow down to owners. While this structure avoids double taxation, it also means the tax burden is on the individual level, requiring business owners to consider self-employment taxes, payroll, and state tax limitations