Wiss & Company, LLP

Skip to content Key Takeaways Data breaches can create significant financial, operational, and reputational costs for nonprofits, particularly when donor payment data, client records, or employee information are involved. Phishing and credential-related attacks remain among the most common cybersecurity risks facing nonprofit organizations, making staff awareness and training critical components of any security program.

Skip to content Key Takeaways CPG companies that automate targeted reporting and close workflows can reduce manual reconciliation effort, improve visibility into bottlenecks, and shorten close cycles when source data and ownership are clearly defined. The highest-impact automation targets are intercompany eliminations, trade spend accruals, and inventory costing adjustments, which consume a lot of manual close effort.

Skip to content Key Takeaways Crowdfunding costs vary widely depending on platform fees, payment processing charges, subscription costs, and internal staff time, all of which materially affect campaign ROI. Campaigns that include video storytelling and strong visual content often outperform text-only appeals because donors engage more quickly with emotionally specific narratives.

Skip to content Key Takeaways NJ’s statewide sales tax rate of 6.625% applies to all prepared food, beverages, and catering services, regardless of whether items are consumed on premises or taken to go A proposed bill (S4111) would temporarily raise the sales tax by 3% within the Hackensack Meadowlands District during the tournament window, pushing the combined rate to 9.625% on food, beverages, and entertainment — hospitality businesses in the zone need to monitor this legislation closely A...

Skip to content Key Takeaways Many food companies carry SKUs that appear profitable under standard costing but become margin-negative or strategically questionable when production complexity, changeover time, sanitation, quality holds, and scheduling constraints are analyzed at the SKU level. Flavor proliferation often masks margin erosion because new variants cannibalize core products while adding changeover costs that standard costing fails to capture.

Key Takeaways Executives with complex compensation packages often fail to fully optimize the tax, estate, and liquidity implications of their compensation when planning occurs across disconnected advisory teams. Section 409A deferred compensation elections can create significant planning opportunities when equity vesting, charitable giving, and liquidity events are evaluated together.

Skip to content Key Takeaways Nonprofit revenue often varies materially from budget because of grant timing, donor retention, campaign performance, and reimbursement delays that static annual budgets cannot easily absorb. Rolling monthly forecasts help organizations identify cash shortfall risks earlier by linking actual revenue trends to expense commitments before gaps become harder to manage.

Key Takeaways Pet services companies that recognize subscription revenue at billing rather than as performance obligations are satisfied can overstate earned revenue and understate deferred revenue, creating financial statements that do not reflect actual service delivery.

Skip to content Key Takeaways Private nonoperating foundations are generally required to make annual qualifying distributions equal to approximately 5% of the average fair market value of their noncharitable-use assets, subject to technical adjustments and timing rules. IRS review timelines for Form 1023 applications vary widely depending on application complexity, IRS workload, and whether additional information requests are issued.

Key Takeaways $3.3 billion in projected economic activity is expected in the NY/NJ region during FIFA World Cup 2026, with more than 1.2 million visitors anticipated Short-term rental occupancy in NJ’s Montclair is already up 169% compared to last year, with similar surges in neighboring towns A New Jersey STR manager told Bloomberg that a single luxury rental in the state could bring in $240,000 between June 11 and July 19 — but that income comes with layered tax obligations NJ’s transient...