blog
September 6, 2019
Adopting a Nonprofit Gift Acceptance Policy

When you receive a personal gift from a friend or family member — even if it’s not something you particularly want — you accept the gift and thank the person. The same isn’t always true of gifts given to your not-for-profit. Gifts should be examined, and, possibly, refused....

September 3, 2019
Understanding the Fraud Triangle

Fraud experts have long suggested that the presence of three conditions, known as the “fraud triangle,” greatly increases the likelihood that an employee will commit fraud. Over the years, this conceptual framework has been expanded to become a “fraud diamond.” Understanding these models can help you protect your busin...

August 29, 2019
Real Estate Entities – GAAP or Income Tax Basis?

In reporting financial results for real estate companies, Generally Accepted Accounting Principles (GAAP) and the income tax basis of accounting often provided very different financial reporting results.  If the real estate company is not required to provide GAAP financial statements (ie. for a bank, lender, partner, i...

August 28, 2019
2019-2020 Tax Planning Guide

To help you identify strategies that might work for you in 2019, we're pleased to present the 2019-2020 Tax Planning Guide.  It provides a refresher on some of the most significant changes that generally went into effect last year under the Tax Cuts and Jobs Act (TCJA) - and their potential impact on tax planning.  It ...

August 27, 2019
Shedding Some Light on Business Credits for Solar Energy Property

We all know that solar energy can save you money on future energy costs. But did you also know that there is a federal Solar Investment Tax Credit (ITC) of up to 30% of the total cost of the energy property? The energy property must meet performance and quality standards, must be originally placed in service by the tax...

August 27, 2019
Health Care Fraud Still Exists

Even if you haven’t heard much about it lately, know this: Health care fraud is alive and well in the United States. Here’s a roundup of recent stats, law enforcement initiatives, common fraud schemes and how you can help prevent these crimes....

August 25, 2019
Nonprofit Investment Advisor Selection Process

You may think that only large, well-endowed not-for-profits require the advice of a nonprofit investment advisor. But even smaller nonprofits with modest endowments — particularly smaller nonprofits that don’t have in-house financial expertise — can benefit from hiring an investment professional....

August 20, 2019
Using Dashboard Software to Keep Your Eye on the Prize

Like most business owners, you’ve probably been urged by industry experts and professional advisors to identify the most important key performance indicators (KPIs) for your company. So, just for the sake of discussion, let’s say you’ve done that. A natural question that often follows is: Now what? You know you’re supp...

August 16, 2019
“Innocent Spouse” Relief from Tax Liability

In some cases, spouses are eligible for “innocent spouse relief.” This generally involves individuals who were unaware of a tax understatement that was attributable to the other spouse. To qualify, you must show not only that you didn’t know about the understatement, but that there was nothing that should have made you...

August 16, 2019
Social Listening Strategies for Nonprofits

How well do you listen to your not-for-profit’s supporters? If you don’t engage in “social listening,” your efforts may not be good enough. This marketing communications strategy is popular with for-profit companies, but can just as easily help nonprofits attract and retain donors, volunteers and members....

August 15, 2019
Early Revenue Recognition Fraud

Early revenue recognition has long accounted for a substantial portion of financial statement fraud. By recording revenue early, a dishonest business seller or an employee under pressure to meet financial benchmarks can significantly distort profits. Fortunately, fraud experts have tools to expose such manipulation....

August 10, 2019
Is it Time to Hire a CFO or Controller?

Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a good thing — the company has grown to a point where simple bookkeeping and basic financial reporting just don’t cut it anymore.  If you can relate to the feeling, it may be time to add a CFO o...