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Returning Value Blog

Top 10 Trends in the Nonprofit Industry

Posted by Lesley L. Price, CPA on Aug 15, 2019

The nonprofit industry is anything but static. Many outside factors impact their daily operations. Following is a list of what some believe to be the top 10 trends that are currently impacting nonprofit organizations.

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Posted in Business Tax

What to Do If Your Business Receives a "No-Match" Letter

Posted by Murry Guy, CPA on Aug 12, 2019

In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if there’s a discrepancy between the agency’s files and data reported on W-2 forms, which are given to employees and filed with the IRS. Specifically, they point out that an employee’s name and Social Security number (SSN) don’t match the government’s records.

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Posted in Accounting & Outsourcing

Attention: Accounting Rule Delays in the Works

Posted by Melissa Motley, CPA on Aug 08, 2019

On July 17, the Financial Accounting Standards Board (FASB) voted to issue a proposal that would delay several landmark accounting rules for certain companies. If finalized, the deferral would apply to new guidance for reporting leases, hedging transactions, credit losses, and long-term insurance contracts.

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Posted in Accounting & Outsourcing

The IRS is Targeting Business Transactions in Bitcoin and Other Virtual Currencies

Posted by Nick Wheeler, CPA on Aug 05, 2019

Bitcoin and other forms of virtual currency are gaining popularity. But many businesses, consumers, employees, and investors are still confused about how they work and how to report transactions on their federal tax returns. And the IRS just announced that it is targeting virtual currency users in a new “educational letter” campaign.

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Posted in Business Tax

Imposing Health Care Plan Waiting Periods on Rehired Employees

Posted by Becky Snedigar on Jul 31, 2019

It’s not uncommon for employers in some industries and localities to occasionally rehire a previously terminated employee. Should such a situation occur, you may wonder how to properly handle the waiting period typically imposed on new hires preceding their eligibility for health care benefits. The answer depends on the status of your organization under the Affordable Care Act (ACA).

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Posted in Payroll, HR & Benefits

Take a Closer Look at Home Office Deductions

Posted by Lesley L. Price, CPA on Jul 29, 2019

Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your tax return. Deductions for these expenses can save you a bundle if you meet the tax law qualifications.

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Posted in Business Tax

Businesses Can Utilize the Same Information IRS Auditors Use to Examine Tax Returns

Posted by Lisa Albritton on Jul 22, 2019

The IRS uses Audit Techniques Guides (ATGs) to help IRS examiners get ready for audits. Your business can use the same guides to gain insight into what the IRS is looking for in terms of compliance with tax laws and regulations.

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Posted in Business Tax

Let's Find a Better Way to Manage Your Receivables

Posted by Murry Guy, CPA on Jul 19, 2019

Failure to collect accounts receivable (AR) in a timely manner can lead to myriad financial problems for your company, including poor cash flow and the inability to pay its own bills. Here are five effective ideas to facilitate more timely collections:

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Posted in Accounting & Outsourcing

It's a Good Time to Buy Business Equipment and Other Depreciable Property

Posted by Marty Williams, CPA on Jul 16, 2019

There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified assets, instead of taking depreciation deductions over time. And it was increased and expanded by the Tax Cuts and Jobs Act (TCJA).

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Posted in Business Tax

Private Companies: Beware of SEC Scrutiny

Posted by Melissa Motley, CPA on Jul 12, 2019

The Securities and Exchange Commission (SEC) doesn’t monitor just publicly traded companies. It also looks at the dealings of some private companies, often to the surprise of their owners and executives.

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Posted in Accounting & Outsourcing

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