Starting in 2018, certain public companies must disclose the ratio of their chief executive officer’s annual compensation to that of its ‘median employee.’ The rule allows for significant flexibility in calculating these ratios, leading to widely divergent ratios within the same industry. Therefore, public companies...
When you think of the G.I. Bill, you probably recall reading about a program designed to help military veterans receive college educations after they left the armed forces following World War II. Somewhat less known is that the G.I. Bill has endured, in various forms,...
Americans gave unprecedented sums to charity in response to the devastating hurricanes last year. Large organizations, such as the American Red Cross, were equipped to handle the huge influxes of donations. However, some smaller charities were overwhelmed. Although it may seem like an unlikely problem,...
Information technology (IT) consultants are many things — experts in their field, champions of the workaround, and, generally, the ‘people persons’ of the tech field. However, they are not magicians who, with the wave of a smartphone, can solve any dilemma you throw at them....
The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method, which is simpler than the accrual method, available to more businesses. Now the IRS has provided procedures a small business taxpayer can use to...
Your company may have strong fraud prevention controls in place, but they do little good if a senior manager overrides those controls. In the worst cases, managers may alter records, manipulate financial results, intentionally misstate the timing of transactions, or use any of dozens of...
As public companies grow, they may move from one filing status or issuer category to another. Recent and proposed changes to the Securities and Exchange Commission (SEC) rules for some categories could affect your company’s financial reporting and audit procedures. Categories of public companies Under existing rules,...
In their continuing effort to assemble the most enticing employee benefits package possible, some employers are showing renewed interest in an old favorite: group term life insurance. Although such life insurance coverage had fallen off the radar screens of some employers, it remains an affordable...
For many years, 529 college savings plans have offered a tax-favored way to save for higher education. These plans, officially qualified tuition programs, are named for the Internal Revenue code section that provides their advantages. In brief, 529 plans are funded with after-tax dollars. In college...
As a business grows, one of its many challenges is identifying a competitive yet manageable compensation structure. After all, offer too little and you likely will not have much success in hiring. Offer too much and you may compromise cash flow and profitability. But the challenge...