Month: June 2012

Seeing Your Way Through Transparency

by Amanda Meko, CPA | Partner, Audit and Other Assurance Services and Team Leader, Not-for-Profit Services Group | Angela Crawford, CPA | Team Member, Not-for-Profit Services Group Transparency. To most nonprofits the term suggests the need to make financial statements more readily understandable and being open about all aspects of their operations. Since the IRS […]

Read More

Expiring Tax Provisions

by Jim Wagoner, CPA | Partner, Director of Tax Services Group | Felicia Rupp | Member of the Tax Services Group There are several tax provisions (the Bush Tax Cuts) scheduled to expire at the end of 2012. We have summarized the change regarding the Child Tax Credit and Dependent Care Tax Credit below. Future […]

Read More

LEGACY PLAN: Who Should Get the Stock?

by Larry K. Greenwalt, CPA | Chairman of the Board and Anita Sherman, CPA | Managing Partner During the past two months we have been discussing the ownership transition process, particularly as it relates to family owned businesses. As previously discussed, transition is a process that should occur over time in accordance with a well […]

Read More

Hardship Distributions Burden of Proof

by Stacey L. Spencer, QKA | Manager, Employee Benefit Services Group A hardship withdrawal allows emergency access to one’s 401(k) account balance. The key here is emergency access. Hardship withdrawals are only allowed for an immediate, pressing need, and only when all other means of obtaining funds have been exhausted. If the 401(k) plan also […]

Read More