Posts by Admin

Volunteer for a Not-for-Profit? Big Changes Coming Your Way!

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 improve ...

Venturing into a new state?

As your construction company grows, you may be presented with opportunities that are outside your normal state of operations. While it may be a good idea to bid on an out-of-state project, you’ll want to consider a number of different factors before making the final decision to pursue an out-of-state venture. Please continue reading as Brandon Cook, ...

Standard Costs Explained

Pop Quiz: Your electricity bill for your home arrives stating that you owe the power company $150 for the past month’s usage. Is this a reasonable bill? Clearly, the answer is – it depends. You might compare this bill to a previous bill to determine if it is reasonable, or you might just rely on your intuition about whether or not it “feels” ...

Safeguard Your Information in 4 Steps

In the wake of the Anthem and Sony hacking incidents, how can companies reduce the chance of their electronic and hard-copy records being compromised? Hackers can infiltrate your organization within the office or across the globe. Help your organization reduce the likelihood of an attack and its debilitating effects by taking both proven and emerging ...

Can Unemployed Get Access to Retirement Funds Without Penalty?

Generally, if someone with retirement assets takes a cash distribution from their retirement and they have not reached retirement age, or at least age 59 ½, they must pay a tax penalty of 10% to the IRS. This penalty is basically a slap on the wrist for using retirement funds prior to retirement. There are exceptions, such as retirement plans that ...

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 ...

Is your nonprofit ready to pass the baton?

Baby boomer nonprofit leaders continue to retire in vast numbers nationwide. Does your organization have key people who are nearing retirement? If so, is there a concrete plan to replace them? A succession plan can be the difference between a nonprofit carrying on its mission without interruption and its operations grinding to a halt. Choosing a strategy Three ...

I’m Lovin’ It

No it’s not McDonalds! What I am lovin’ today is Office 365. We have migrated a number of clients to this over the last year and recently migrated our office to the service. There were a few hiccups along the way but those do not outweigh the benefits. What we have gained far exceeds those hiccups. Listed below are three key benefits we feel you ...

Identity Theft and Your Tax Return

We hear a lot about identity theft in the news. Part of the identity theft crisis can even involve your income tax return. Thieves will file fraudulent tax returns using other taxpayers’ social security numbers in order to claim refunds. Then when that taxpayer goes to actually file his/her tax return, the Internal Revenue Service (IRS) or Indiana ...

Tax Increase Prevention Act of 2014

With the recently enacted “Tax Increase Prevention Act of 2014,” Congress has once again extended a package of expired or expiring individual, business, and energy provisions known as “extenders.” The bill now awaits President Obama’s signature and it is expected he will sign it into law in the very near future.  The extenders are a varied ...