LIFO Lessons Learned
You have choices when it comes to reporting inventory costs. One popular technique, the last-in, first-out (LIFO) method, assumes that merchandise is sold in the reverse order it was acquired
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Spotting & Preventing Cash Register Theft
Many retail businesses implement careful controls over the use of their cash registers. For this reason, register-disbursement schemes are among the least costly types of cash frauds. Without such controls,
Buy Business Assets Before Year End to Reduce Your 2018 Tax Liability
The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase
Taking the Hybrid Approach to Cloud Computing
For several years now, cloud computing has been touted as the perfect way for companies large and small to meet their software and data storage needs. However, when it comes
How Fiscal Sponsorships Work for Established & Fledgling Charities
A fiscal sponsorship occurs when an established charity provides a kind of legal and financial umbrella to a charitable project that lacks 501(c)(3) status. This type of arrangement can benefit
Offering COBRA to a Terminated Employee’s Domestic Partner
Many employers offer coverage to employees’ domestic partners under their health care plans. If your organization does so, you need to determine what rights domestic partners have regarding COBRA insurance.
A Fresh Look at Percentage of Completion Accounting
How do you report revenue and expenses from long-term contracts? Some companies that were required to use the percentage of completion method (PCM) under prior tax law may qualify for
Is Your Business Prepared for A Fraud Disaster?
Your company probably has a contingency plan for such potential calamities as fires and natural disasters. But what about a fraud contingency plan? Even if you do not believe that
Mutual Funds: Handle with Care at Year End
As we approach the end of 2018, it is a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps.
Five Delegation Best Practices for Non-Profit Leaders
Done well, delegation allows non-profit executives to focus on their most important tasks, helps to build bench strength, and gets staffers out of the office before midnight. But done poorly,