Social Networks
August 2018
Beware of unexpected tax liabilities under new accounting and tax rules!
The Tax Cuts and Jobs Act (TCJA) contains a provision that ties revenue recognition for book purposes to income reporting for tax purposes, for tax years starting in 2018.
HSA + HDHP can be a winning health benefits formula
If you’ve done any research into employee benefits for your business recently, you may have come across a bit of alphabet soup in the form of “HSA + HDHP.” Although perhaps initially confusing, thi
When should you reconsider a special event?
Not-for-profits use special events to raise large amounts in a short period of time.
Back-to-school time means a tax break for teachers
When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket.
Keep it SIMPLE: A tax-advantaged retirement plan solution for small businesses
If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA.
Small Businesses at Greater Risk for Fraud
By Amanda Bernard, CPA, CFE, CMA
Identifying and reporting critical audit matters
For over 40 years, the Securities and Exchange Commission (SEC) has required only a simple pass-fail statement in public companies’ audit reports.
Make a licensing agreement work for your nonprofit
Licensing your not-for-profit’s name to a for-profit company can provide a valuable new revenue source — but it can also be risky.
Business tips for back-to-school time
Late summer and early fall, when so many families have members returning to educational facilities of all shapes and sizes, is also a good time for businesses to creatively step up their business d
Play your tax cards right with gambling wins and losses
If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact.
Assessing the S corp
The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level).
Use pay-ratio disclosures with caution
Starting in 2018, certain public companies must disclose the ratio of their CEO’s annual compensation to that of its “median employee.” The rule allows for significant flexibility in calculating th
Nonprofits should be prepared for sudden outpouring of support
Americans gave unprecedented sums to charity in response to the devastating hurricanes last year.
Keep an eye out for extenders legislation
The pieces of tax legislation garnering the most attention these days are the Tax Cuts and Jobs Act (TCJA) signed into law last December and the possible “Tax Reform 2.0” that Congress might pass t
Choosing the right accounting method for tax purposes
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more busines
It’s important to monitor your SEC filing status
As public companies grow, they may move from one filing status or issuer category to another.
Steering your nonprofit through its growth stage
A not-for-profit’s growth stage generally starts two or three years after formation and continues until maturity at around age 7.
Contemplating compensation increases and pay for performance
As a business grows, one of many challenges it faces is identifying a competitive yet manageable compensation structure.
The TCJA prohibits undoing 2018 Roth IRA conversions, but 2017 conversions are still eligible
Converting a traditional IRA to a Roth IRA can provide tax-free growth and tax-free withdrawals in retirement.
Auditing the use of estimates and specialists
Complex accounting estimates — such as allowances for doubtful accounts, impairments of long-lived assets, and valuations of financial and nonfinancial assets — have been blamed for many high-profi
Demystifying the audit process
Independent auditors provide many benefits to business owners and management: They can help uncover errors in your financials, identify material weaknesses in your internal controls, and increase t
Update your nonprofit’s social media policy
Perhaps you wrote a social media policy several years ago when your not-for-profit set up a Facebook page.
Is there a weak link in your supply chain?
In an increasingly global economy, keeping a close eye on your supply chain is imperative.
Do you still need to worry about the AMT?
There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation.
