As leasing standards transition from ASC 840 to ASC 842, the Financial Accounting Standards Board has outlined an implementation plan for the rollout. The new standard is now effective for all organizations with financial statement years beginning after December 15, 2021. Read more.
There are deadlines that may be applicable to nonprofit organizations with a year-end of June 30, 2023. Read more about deadlines to remember.
Are you confident you are doing everything you can to minimize your income taxes? If not, it may be time for a fresh look. Click above to check out the 2022 Tax Planning Guide.
If you own a second home that you are considering renting, you should understand the tax impacts. Click here to learn more.
What started out as a hobby may be a business! Read this article for information to help determine if your hobby is really a business.
Does your nonprofit organization think it may be time to purchase customer relationship management software (CRM) to streamline and organize operations? If so, click to keep reading for additional information!
The filing requirements for nonprofits can vary greatly depending on the state in which the non-profit resides. In North Carolina, the obligations aren’t as extensive as some other states. Find out more.
Beginning with the 2023 Form 5500 – Annual Return/Report of Employee Benefit Plan, fewer plans will require an audit due to the method for determining when a defined contribution plan (e.g. a 401(k) or 403(b) retirement plan) may file as a small plan being revised. Learn more.
The SECURE Act will soon allow part-time employees meeting specific hour requirements to participate in their company’s retirement plan. This requires an enormous amount of work to track part-time employee hours over consecutive years to meet requirements. Learn more.
The Employee Retirement Income Security Act of 1974 (ERISA) requires that every person who handles plan assets to be bonded to protect the plan from losses due specifically to fraud or dishonesty. Read more.
