Article Library

Learn about the most recent accounting and regulatory updates and their potential impact on clients, prospects and others:

  • Status of Tax Reform 2.0

    For many of our nonprofit clients that pay parking for their employees, this legislation would prevent them from being subject to Unrelated Business Income Tax (UBIT). In addition, they would not need to consider grossing up wages for the parking benefit. We will keep you updated on any changes.

  • Holiday Gifts that Give Back

    Gifts to customers are deductible up to $25 per customer per year. This limit does not include “incidental” costs that do not substantially add to the value of the gift. Incidental costs include engraving, gift-wrapping, packaging, and shipping. Branded marketing collateral is also excluded from the $25 limit; this includes items costing less than $4 and widely distributed such as pens or stress balls with your company’s name and logo printed on them.

  • 2019 First Quarter Deadlines

    The first quarter of 2019 is coming up. Here are some of the important tax-related deadlines affecting businesses and employees. January 31 File 2018 Forms W-2, “Wage and Tax Statement,” with the Social Security Administration and provide copies to your … Continued

  • Key Benefits of Outsourced Accounting

    A key hallmark of success in business is to perform better than last year, last quarter or last period. Metrics like increased revenue, profitability and decreased costs are essential metrics to every business regardless of industry.

  • Tax Savings to Act on Today

    Under the Tax Cuts and Jobs Act (TCJA), two popular depreciation-related tax breaks have been enhanced. Now is the time to look at these breaks because to use them qualifying assets must be purchased and in use by the end of the tax year.  

  • Internal Control Assessment Requirements

    A key factor in the detection and prevention of fraud is strong internal controls. Section 404(1) of the Sarbanes-Oxley Act (SOX) requires that public company’s management annually assesses the efficacy of internal controls over financial reporting. Section 404(b) of SOX requires independent auditors provide an attestation report on the assessment of internal controls by the company’s management (though some smaller companies are exempt).

  • TCJA Changes Expense Deductibility

    The Tax Cuts and Jobs Act (TCJA) has introduced changes in deductibles, reducing or eliminating many of them. With the end of the year approaching it is important that you review your business expenses and identify deductibility. You may also want to evaluate whether accelerating certain expenses into this year would be beneficial. The TCJA changes may also require, or make favorable, for you to change your expense or reimbursement policies.

  • The Benefits of Fringe Benefits

    Fringe benefits are one of the best ways to attract and retain employees in the current tightening job market. Small businesses will especially draw in employees with benefits that are tax-free. Different benefits are taxed differently. Here is a look at various benefits and some of the tax policies that apply to them.

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