September 20th, 2022 • Blog
Deborah Tarbox, CPA, CCA, CGMA
The Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-02 (Topic 842, Leases) changes the manner in which companies and nonprofits will account for and disclose leases. The new standard applies to lessees and lessors reporting using accounting principles generally accepted in the United States of America (US GAAP)...
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September 14th, 2022 • 529 Plans
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Charles Jacques
With the rising costs of higher education, it is even more important to effectively plan for how best to finance your future goals, regardless of what level you are at or pursuing. Qualified Tuition Programs (QTPs), or “529 Plans” are one possible route that not only supports you in saving...
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August 11th, 2022 • Blog
Nicole Manning
Conventional wisdom often holds that it is most efficient to keep all roles in house, but this is not always the case. If an organization keeps hitting the same internal roadblocks or is looking for a new way to optimize processes, an alternative solution like outsourcing or co-sourcing could prove...
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July 8th, 2022 • Blog
Amila Hadzic
You may have already filed your 2020 or 2021 tax return, but don’t throw away your tax statements and support! Upon IRS examination of your tax return, the IRS has the right to request the support of how you arrived at your reported income, expenses, and tax credits. If you...
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May 31st, 2022 • Blog
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Garrett Kelly, CPA
“Can I deduct vehicle expenses on my tax return?” This is one of the most frequent and open-ended questions a CPA will get. As a CPA, if you have been in the game for any period of time, you probably know the answer is: “It depends.” We are going to...
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May 15th, 2022 • Blog
Bridget Costello, MSA
Here, we have compiled a list to help municipalities prepare for year-end. If you have any questions on these items, please reach out to you auditor and they will be able to assist you.
Here are a few entries that should be made before the general ledger is closed for the...
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