Charitable Giving is on the Rise – Tips for Maximizing your Charitable Deduction by Giving Personal or Business Items on Hand. According to the Lilly Family School of Philanthropy at Indiana University, charitable contributions have finally eclipsed their pre-recession record high with Americans donating an estimated $358 billion to charitable organizations in 2014, compared to […]
Many of us are involved with not-for-profits in some capacity, either because you work for a not-for-profit or volunteer for one in a leadership role. The Financial Accounting Standards Board (FASB) is on the verge of proposing significant changes in the way not-for-profit financial statements are presented. The goal of the FASB project is to […]
Cash versus Accrual Method of Accounting – How potential legislation would affect Professional Service companies.
Congress has considered tax reform proposals that would require many professional service firms to move from the cash method to the accrual method of accounting for income tax purposes. Such a change would impose new financial burdens on professional service firms and their partners/shareholders – including a large, unexpected tax liability. Most professional service firms […]
by John Fisk and Anita Sherman, CPA | Members of the Manufacturing & Distribution Services Group The balanced scorecard (BSC) has been used by companies since the early 1990s and continues to be an effective strategy performance management tool for organizations across the world. Based on a study by Bain & Company entitled ‘Management Tools […]
by Jeff Curiel, CPA | Manager, Team Member of the Not for Profit Services Group Financial statements regularly slide over your desk and pass through board members hands, providing a wealth of financial data on your nonprofits most recent month, quarter or year. But do you and the board rely on this valuable information to […]
by Anita Sherman, CPA | Managing Partner In my April 19, 2012 article, I discussed the personal financial planning needed to get yourself and your family ready for a business transition or sale. In my March 22, 2012 article, I discussed the importance of preparing key employees for transition. This week I want to focus […]
by Anita Dudley | Manager, Tax Services Group The American Payroll Association (APA) has issued a press release that describes five basic tips on how to avoid IRS penalties when paying independent contractors.
by Anita Sherman, CPA and Larry Greenwalt, CPA Interest rate swaps have been used for a number of years to hedge against rising interest rates. In the last several years, this technique has become more commonly used with mid-sized companies. SWAPS are useful in hedging against intermediate and long term loan interest rate risk, which […]
by Amanda Meko, CPA | Partner, Director of the Audit & Other Assurance Services Group Many businesses enter into lease arrangements. Think about lease arrangements your company has. You probably lease office equipment, like a copier and a postage meter. You may lease equipment or vehicles. You may also lease space, such as an office […]
by Tim Ayler, CPA | Partner, Director Construction Services Group Change orders are a common occurrence for most contractors. Although it is common, the treatment of change orders in the accounting system is something that is not always done correctly. Sometimes change orders go without pricing even though the work is defined and costs are […]