Choosing the right CPA firm for your annual real estate compliance audit:  Depending on the type of mortgage on your property, that may determine what type of compliance requirements are required to be reported annually. Property owners with mortgages that require any type ...

To capitalize or to expense? Property owners tend to struggle with wanting to expense as much repairs and maintenance (R&M) as possible during the year to maximize tax deductions, and to possibly increase any losses during the year. We assist many clients with determining wh...

You have a child! Congratulations! Start saving for their education since it comes sooner than you think.  The “parenting time continuum” is baffling: it feels like your child will never sleep through the night, yet education costs come knocking at your door all to soon...

If you’ve done any research into employee benefits for your business recently, you may have come across a bit of alphabet soup in the form of “HSA + HDHP.” Although perhaps initially confusing, this formula represents an increasingly popular model for health care bene...

The new tax law increases the limit on cash contributions to public charities and certain private foundations from 50% to 60% of AGI. That being said; the law also increased the standard deduction, in fact it almost doubled. The higher standard deduction along with the capp...

The new federal tax law reduces the limit on home acquisition debt to $750,000. For married taxpayers filing separately, the debt limit is halved to $375,000. In addition the law generally disallows home equity debt interest. Although, home equity interest paid on home equit...

Under the Tax Cut and Jobs Act certain future alimony payments will no longer be deductible by the payer. Also, alimony will no longer be considered income to the recipient. Therefore, for divorces and legal separations that are executed (that come into legal existence due t...

Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating or updating yours, be sure you’re prepared for the valuation issues that will come into play....

People have been sharing their homes for ages, but it has become much more popular with the rise of the sharing economy and the recent coining of the phrase “House Hacking,” which describes renting out extra rooms in your home, or renting part of a multi-family home whil...

Affordable accounting. Nonprofit finance committees and leadership teams continue to battle this issue. For small to mid-sized nonprofits, each full-time equivalent job description might as well say: jack-of-all trades, master of all.  The responsibility of the board and fi...

Nonprofit accounting has remained fairly stagnant since the 1990’s but that will be changing over the next few years, specifically with how organizations will now be recognizing revenue. In the past, it was looked at on whether it is an exchange (typically grants initiated...