Every two years the Association of Certified Fraud Examiner releases a study on fraud in their Report to the Nation. The 2018 report was recently released and I found the following facts to be very interesting. Over $7 billion in total losses. This number continues to increase. A majority of the victims recovered nothing. [...]
Not-for-profit organizations may not be the first thing that comes to mind when reviewing the provisions of the Tax Cuts and Jobs Act of 2017. However, this major tax reform significantly changes how taxes are assessed for corporations, pass-through entities, and individuals. These entities are a core component of a not-for-profit organization’s donor base, and [...]
This is a common question I receive. Annual required minimum distributions (RMDs) must be taken from traditional IRAs, SIMPLE IRAs, and SEP IRAs beginning in the year when the taxpayer reaches age 70 ½. The first payment can be delayed until April 1 of the following year, but the second payment must then be taken [...]
Our CPAAI member firm in Pittsburgh H2R CPA firm recently posted this blog on estate planning tips for the sandwich Generation. The “sandwich generation” accounts for a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. In some cases, this [...]
“Help me!” cried my 89 year old great Aunt Ethel over the phone. Ethel was frightened and confused. She had listed her house for sale and was meeting with the realtor, who was pressuring her to sign a sales contract. As it turned out Ethel had dementia and was unable to make decisions on her [...]
January 17, 2018 On October 16th the Internal Revenue Service (IRS) announced that Orange County was added to the list of counties included in the federally declared disaster area related to the wildfires that took place in October. The declaration allows for postponement of certain deadlines falling on or after October 8, 2017 and before [...]
From our CPAAI (CPA Associates International) Colleagues, Rosenswig Mcrae Thorpe in Canada Utilization of Key Performance Indicators As a Measure of Success There are many challenges to managing a business in an ever-changing and competitive marketplace. Monitoring the company’s performance and progress is a key aspect of management. Many businesses use key performance indicators to [...]
Last Friday, the President signed the ‘Tax Cuts and Jobs Act of 2017’ into law. Now that we have had some time to review the new tax law, we wanted to relay some of the more significant portions of the new tax law which may affect your spending and business decisions beginning on the first [...]
As you know, significant “tax reform” legislation is currently being worked on in the House and Senate. They have each passed their own versions and now they need to be reconciled and combine into one bill. The chart below compares the two versions as of December 4, 2017. Note that most of the provisions in [...]
Tis the season to battle it out on The Hill. You may have heard about a little thing called Tax Reform. Well, the House of Representatives passed its version of the tax reform bill a few weeks ago. Recently, the Senate passed its version and, shockingly (sarcasm inserted here), they do not match. Both houses [...]
