Insights
NEWS
Changes to the Not-for-Profit Financial Reporting Model with ASU 2016-14
As part of the FASB’s project to improve on the current financial reporting requirements for not-for-profit entities (NFP), they issued Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities in August 2016…
IT Security & Crisis Communication: Protect Your Not-for-Profit’s Reputation and Security
In today’s technology-driven climate, security breaches can damage your not-for-profit’s reputation, professional relationships, and sensitive internal controls. Website breaches, social media hacking, and email fraud can lead to inaccurate, and often embarrassing, misrepresentations of your organization…
Home-Related Tax Breaks Are Valuable on 2017 Returns, Will Be Less For 2018
Home ownership is a key element of the American dream for many, and the U.S. tax code includes many tax breaks that help support this dream. If you own a home, you may be eligible for several valuable breaks when you file your 2017 return
Tax Reform Update for Nonprofit Organizations
With the recent tax reform legislation of the 2017 Tax Cuts and Jobs Act (TCJA), there are many questions about how the changes impact Non-Profit Organizations (NPOs).
Size of Charitable Deductions Depends on Many Factors
Whether you’re claiming charitable deductions on your 2017 return or planning your donations for 2018, be sure you know how much you’re allowed to deduct. Your deduction depends on more than just the actual amount you donate.
2018 Nonprofit Pay & Benefits Survey Now Open for Participation
We are pleased to announce that we have partnered with Cascade Employers Association to sponsor their 2018 Nonprofit Pay & Benefits Survey…
Sec. 179 Expensing Provides Small Businesses Tax Savings on 2017 Returns — And More Savings in the Future
If you purchased qualifying property by December 31, 2017, you may be able to take advantage of Section 179 expensing on your 2017 tax return. You’ll also want to keep this tax break in mind in your property purchase planning, because the Tax Cuts and Jobs Act (TCJA)
Tax Deduction for Moving Costs: 2017 vs. 2018
If you moved for work-related reasons in 2017, you might be able to deduct some of the costs on your 2017 return — even if you don’t itemize deductions. (Or, if your employer reimbursed you for moving expenses
Families With College Students May Save Tax on Their 2017 Returns With One of These Breaks
Whether you had a child in college (or graduate school) last year or were a student yourself, you may be eligible for some valuable tax breaks on your 2017 return. One such break that had expired December 31, 2016, was just extended under the recently passed Bipartisan Budget Act of 2018: the tuition and fees deduction…
MIPS/MACRA Update
In our recent webinar featuring Elizabeth Woodcock, we navigated through MIPS/MACRA: Gearing up for 2018. As we enter our second year of the government’s Quality Payment Program we find many still confused along with continued changes to the program…
Can You Deduct Home Office Expenses?
Working from home has become commonplace. But just because you have a home office space doesn’t mean you can deduct expenses associated with it. And for 2018, even fewer taxpayers will be eligible for a home office deduction…
Tax Reform Impact on Healthcare Practices
On December 22, 2017, President Trump signed into law H.R. 1, formerly referred to as the Tax Cuts and Jobs Act of 2017 (TCJA). 2017 tax reform is the first major tax overhaul in 30 years, and will affect individuals, all types of business, tax-exempt entities, international taxation, and many other areas of tax law…