Audit & Accounting
January 5, 2018

Make budgeting part of your New Year’s resolution

It’s important to resist the temptation to rely on gut instinct or take shortcuts when budgeting for 2018. Creating a solid budget that’s based on the three components of your company’s financial statements will help…
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Audit & Accounting
January 5, 2018

Got multiple locations? Expect auditors to keep a close eye on inventory

Do you remember the high-profile fraud that happened at drugstore chain Phar-Mor in the 1990s? Executives manipulated the company’s financial statements to hide approximately $500 million in losses. A key ploy that perpetrators used in…
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Tax
January 5, 2018

The TCJA temporarily expands bonus depreciation

The Tax Cuts and Jobs Act (TCJA) enhances some tax breaks for businesses while reducing or eliminating others. One break it enhances — temporarily — is bonus depreciation. While most TCJA provisions go into effect…
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Audit & Accounting
January 5, 2018

Income statement items warrant your auditor’s attention

Today’s auditors spend significant time determining whether amounts claimed on the income statement capture the company’s financial performance during the reporting period. Here are some income statement categories that auditors focus on. Revenue Revenue recognition…
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Tax
December 26, 2017

Four Tips You Can Do THIS Week to Reduce Your Taxes for 2017

KNX Interview with Bill Wolf, Squar Milner Tax Partner.
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Tax
December 20, 2017

2017 Tax Reform – Final Tax Cuts and Jobs Act

Below is a look at the final tax proposal - The Tax Cuts and Jobs Act The House and Senate recently released the final version of "The Tax Cuts and Jobs Act" ("Tax Proposal"), which…
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2017 Winter Not-for-Profit Newsletter
December 17, 2017

Transparency Continued

Changes in Accounting for Leased Property Accounting rules for nonprofits are changing, and your nonprofit will soon report some of its leased assets differently. The Financial Accounting Standards Board published new standards for leases in…
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2017 Winter Not-for-Profit Newsletter
December 17, 2017

The Benefits of an Outside Audit

Many nonprofits are required by federal or state laws to undergo an independent annual audit. Such an inspection can appear as a tiresome chore or even the first step in a star-chamber investigation — but…
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2017 Winter Not-for-Profit Newsletter
December 17, 2017

Your Untapped Funding Source?

Don’t Forget Planned Gifts Asking for money is hard enough as it is. Throw in talk of bequests and wills, with their unspoken nuances, and even the best fundraisers may cringe before the task. This…
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2017 Winter Not-for-Profit Newsletter
December 17, 2017

Assignments and Alignment

Set Your Investment Committee Up for Success How well is your nonprofit managing investments? A board with a modest portfolio might manage them directly, but most nonprofits with larger portfolios delegate this important job to…
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