The Coronavirus (COVID-19) outbreak — officially a pandemic as of March 11 — has prompted global health concerns. You also may be worried about how it will affect your business and its financial statements for 2019 and beyond. Close up on financial reporting The duration and full...
Many employers are now offering Health Savings Accounts (HSAs). As required by law, these accounts are coupled with high-deductible health plans (HDHPs). One reason this employee benefits combination has become so popular is that, unlike Flexible Spending Accounts, HSAs allow participants to carry over unused...
The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) recently released a joint statement on heightened cybersecurity risks. While many financial institutions are addressing the identified threats, there may be recommendations in the guidance that are new to your...
Longer life expectancies and rising health care costs make saving for retirement more important than ever before. A Health Savings Account (HSA) can be a powerful tool for financing health care expenses while supplementing your other retirement savings vehicles. In addition, it offers estate planning...
In business, a failure to evolve may lead to failure. One way to keep your company rolling is to regularly adjust how you market products or services to customers and prospects. A marketing strategy should not be a knee-jerk reaction to some enticing rumor or hot...
Every non-profit needs an executive search plan. Even if you are not facing an imminent vacancy, your organization is smart to prepare for what can be a long process. In fact, executive searches generally take several months — even if you end up hiring someone...
If you made large gifts to your children, grandchildren, or other heirs last year, it is important to determine whether you are required to file a 2019 gift tax return. And in some cases, even if it is not required to file one, it may...
Most travelers love a deal that extends their budget — whether it is a cheap flight, discounted hotel room, or all-inclusive package tour. Unfortunately, sophisticated scammers are only too happy to profit from bargain hunters. When planning your next trip, be particularly wary of travel...
The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) updated its Currency Transaction Report (CTR) Electronic Filing Requirements document in October 2019 and again modified these details in November 2019. A quick summary of the latest changes and text from applicable sections of the...
The rules for reporting leasing transactions are changing. Though these changes have been delayed until 2021 for private companies (and non-profits), it is important to know the possible effects on your financial statements as you renew leases or enter into new lease contracts. In some...