From the Desk of Dr. Lovett

The start of 2025 brings important audit and tax updates that nonprofit leaders should be aware of. From managing operating reserves to navigating new donor-advised fund rules, these insights are essential for long-term financial sustainability and compliance.

The role of the Chief Financial Officer (CFO) has undergone a significant transformation in recent years. Traditionally focused on financial stewardship, compliance, and reporting, today's CFOs are increasingly expected to serve as strategic partners, driving innovation, sustainability, and organizational agility. This article explores the multifaceted evolution of the CFO role, examining the factors contributing to this shift and the new competencies required for success in the modern business landscape.

Florida's sales tax has been a topic of discussion among policymakers, economists, and residents for years. With the state’s economy showing signs of recovery post-pandemic and the ongoing debate about tax burdens on residents and businesses, the proposal to reduce the sales tax has gained traction. This article will explore the implications, potential benefits, and challenges associated with the proposed reduction of the Florida sales tax.

Small businesses are vital to Florida's economy, comprising 99% of all businesses in the state. To foster their growth and sustainability, Florida has implemented several funding programs designed to provide financial assistance, especially to those that may face challenges in accessing traditional capital. This article outlines the primary funding opportunities available to small businesses in Florida as of 2025.​

Inventory can be valued using a few different accounting methods, including first In, first out (FIFO) and last in, first out (LIFO). Inventory accounting methods are used to track the movement of inventory and record appropriate and relevant costs.

Entrepreneurs typically monitor key performance indicators, such as revenue, conversion, or adoption, to gauge effectiveness. But perhaps the most common metric for measuring a new venture’s success is what’s known as the LTV/CAC ratio.

Proposals to eliminate property taxes necessitate a discussion on alternative revenue streams to ensure that municipalities and counties continue to function effectively.

Finance leaders struggle to determine generative AI’s costs and benefits, but there are suggestions on how to tackle the problem.

Thinking Outside the Box: A federally mandated minimum wage increases economic instability within the nation. Alternative legislation allowing regional decisions or sector specifications should be considered to level the playing field.

The economic policies implemented during President Donald Trump's administration have been a subject of extensive debate and analysis. This article examines the key components of the Trump economic plan, focusing on tax reforms, deregulation, trade policies, and defense investments, and evaluates their purported benefits.

As a business leader, navigating geopolitical shifts, regulatory changes, rapidly changing tariffs, and evolving economic policies demands a proactive approach that supports long-term strategic resilience.

Sustainability reporting refers to the process of measuring, disclosing, and being accountable for an organization's environmental, social, and governance (ESG) impacts.

While some argue that tariffs can lead to higher prices for consumers, they can also have several positive impacts on the United States economy.

Now is the time for private business leaders to undertake planning and actions to secure the resilience of their company for the potentially turbulent times ahead.

Alternative investments have gained traction as viable options for diversification, risk management, and potential returns.

Staring a business can seem daunting. Be prepared for opportunities for growth, learning, and resilience.

A fractional CFO is a highly experienced financial professional who works with businesses on a part-time or contract basis. Unlike a full-time CFO, who commands a high salary and benefits, a fractional CFO provides expertise at a fraction of the cost.

Filing early not only ensures compliance with tax regulations but also provides financial advantages and reduces stress.

Proper year-end bookkeeping facilitates accurate reporting, aids in tax preparation, and helps in strategic planning for the upcoming year.

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