January 2020

Accounting for indirect job costs the right way

Construction contractors, professional service firms, specialty manufacturers and other companies that work on large projects often struggle with job costing….

What are the responsibilities of an audit committee?

Before you jump headfirst into the year-end financial reporting process, review the role independent audit committees play in providing investors…

Your home office expenses may be tax deductible

Technology has made it easier to work from home so lots of people now commute each morning to an office…

Nonprofits: Are you ready for the new contribution guidance?

When the Financial Accounting Standards Board (FASB) updated its rules for recognizing revenue from contracts in 2014, it only added…

Do you have a side gig? Make sure you understand your tax obligations

The number of people engaged in the “gig” or sharing economy has grown in recent years, according to a 2019…

Risk assessment: A critical part of the audit process

Audit season is right around the corner for calendar-year entities. Here’s what your auditor is doing behind the scenes to…

Employee benefit plans: Do you need a Form 5500 audit?

Some benefit plans are required to include an opinion from an independent qualified public accountant (IQPA) when filing Form 5500 each…

4 new law changes that may affect your retirement plan

If you save for retirement with an IRA or other plan, you’ll be interested to know that Congress recently passed…

Benchmarking financial performance

You already may have reviewed a preliminary draft of your company’s year-end financial statements. But without a frame of reference,…

Help protect your personal information by filing your 2019 tax return early

The IRS announced it is opening the 2019 individual income tax return filing season on January 27. Even if you…