‘Going green’ at home, whether it is your principal residence or a second home, can reduce your tax bill in addition to your energy bill, all while helping the environment. The catch is, to reap all three benefits, you need to buy and install certain...
Skimming is the theft of cash receipts. It occurs when an employee steals an incoming payment before it is recorded on the books. Here we will look at how this fraud scheme works so you can prevent it from happening to your company. Behind the scheme In...
Analytical procedures can make audits more efficient and effective. First, they can help during the planning and review stages of the audit. However, analytics can have an even bigger impact when used to supplement substantive testing during fieldwork. Defining audit analytics The American Institute of CPAs’ auditing...
Although the Tax Cuts and Jobs Act (TCJA) was passed months ago, many employers are still grappling with its impact. One area that is easy to overlook is executive compensation. If your organization offers stock options or substantial salaries to execs and other employees, it...
By and large, today’s employees expect employers to offer a tax-advantaged retirement plan. A 401(k) is an obvious choice to consider, but you may not be aware that there are a variety of types to choose from. Here we will discuss a few of the...
Auctions have long been lucrative fundraising events for non-profits, but these events do come with tax compliance responsibilities. Acknowledging item donations If you auction merchandise or services donated to your charity, you should provide written acknowledgments to the donors of the auctioned items valued at $250 or...
There continues to be much uncertainty about the Affordable Care Act and how such uncertainty will impact health care costs. So, it is critical to leverage all tax-advantaged ways to fund these expenses, including Health Savings Accounts (HSA), Flexible Spending Accounts (FSA) and Health Reimbursement...
Whether your company wants to sell a vehicle, buy office furniture, or liquidate obsolete inventory, there is likely an online peer-to-peer (P2P) marketplace available to help you do it. Yet unlike banks and other financial services organizations, P2P providers sometimes lack the technology, processes, and...
Your non-profit’s board of directors meetings do not always need to be performed up-close and personal in the same room. Many organizations hold virtual board meetings via phone and with web-based applications. Participation may improve It can be difficult to secure full board meeting attendance, but going...
