The Holiday season has arrived! It’s that time of year where the air is crisp, families are gathering together, and tax professionals are gearing up for a new tax season influenced by tax reform. As we “fall” back for daylight… Read More
ASU 2016-14: Presentation of Disclosures
FASB’s ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, was issued in an effort to provide more useful information to donors, grantors, creditors, and other nonprofit financial statement users. Additional disclosures are now required for expenses by nature and… Read More
Plan for Success in a Post-Tax Reform World!
The Tax Cuts and Jobs Act (TCJA) is now law, with most provisions in full effect for tax year 2018. Taking these new laws into consideration, there are many positions that can be leveraged before year-end to maximize tax savings. … Read More
Year End Tax Planning – Tips for New Tax Law Changes
The end of the year is approaching fast and that means it is time to take advantage of year-end tax planning. With the new tax law changes from the Tax Cuts and Jobs Act, there are a few things to… Read More
How to Land on Santa’s Naughty Not-for-Profit List
It’s that time of year again when Santa and his elves are hard at work, and people are most open with their hearts and their wallets to give back to their communities. Here are some tips for staying off of… Read More
Distributions from an Inherited IRA – What Options are Available?
Are you the current owner of an individual retirement arrangement (IRA) or, perhaps, a beneficiary of one? There are several different distribution options available to those who are beneficiaries of an IRA and these options differ depending on who the… Read More
Trick or Treat(ies): Navigating Taxation Between Various Countries
In a globalized society, it might make sense to diversify investment portfolios with foreign holdings. Traveling and communicating across countries has never been easier, making it natural to also invest globally. As with all things, the taxation of these types… Read More
3 Reasons Why Your Nonprofit Might Want an Audit
In our previous article, we discussed the thresholds that trigger an audit requirement for nonprofit organizations. But what if a nonprofit organization with less than $2 million would like audited financials? The benefits may be worth the extra time and… Read More
ASU 2016-14 Part III: Reporting of Expenses Update
Prior to ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, only voluntary health and welfare organizations were required to report expenses by both natural classification and functional classification in their financial statements. FASB’s ASU 2016-14 expands this requirement to… Read More
Probate – Death Without a Plan
What happens to you after you die? We can’t tell you that much, but we can tell you what happens to your assets. If you die without a trust or only a will, most or all of your assets may… Read More
