A hypothetical non-profit staffer named Britney had maxed out her personal credit cards. So, when her car needed repairs, she reached for her employer’s card. She reasoned that she would come up with the money to pay the bill before her boss ever saw a...
At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Here are some common types of risks to...
For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your tax return for the year. When you file your return, you do so with one of five filing statuses, which depend...
According to various estimates, approximately 25 to 30 percent of online dating accounts involve scammers. Therefore, if you maintain a dating platform account, you need to know that a significant portion of accounts — including possible ‘matches’ that contact you — belong to fraud perpetrators....
Change-in-control events — like M&A transactions — do not happen every day. If you are currently in the market to merge with or buy a business, you might not be aware of updated financial reporting guidance that took effect in November 2014. The changes provide...
Year end can be a stressful time for those in ownership and management positions. Along with having to tackle a myriad of tasks related to financial reporting and tax planning, you also probably need to plan a holiday party. And whether it is the food,...
The Tax Cuts and Jobs Act (TCJA) made only one change to the federal gift and estate tax regime, but it was a big one. It more than doubled the combined gift and estate tax exemption, as well as the generation-skipping transfer (GST) tax exemption....
Accounting for contributions and grants has often proven complicated for non-profits, especially when they come with donor-imposed conditions. But 2018 guidance from the Financial Accounting Standards Board (FASB) provided some much-needed clarification of earlier instructions. Provider factor Traditionally, non-profits have taken varying approaches to characterizing grants and...
Take a mental snapshot of your sales staff. Do only a few of its members consistently bring in high volumes of good margin sales? An old rule of thumb says that about 20 percent of salespeople will make 80 percent of sales; in other words,...
You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a taxwise way to build a nest egg. If you are not already contributing the maximum allowed,...