Tax Time with TD&T: UNICAP Exemptions Expanded

By | 2018-02-27T14:21:36+00:00 February 27th, 2018|Change, IRS, Manufacturing, TAX, Tax Reform|

In this episode of Tax Time with TD&T, Amie Kuntz shares a bit on the tax reform changes in regard to UNICAP. Amie is a Tax Manager in the TD&T West Des Moines Office spending her time working with closely-held companies throughout Iowa. In a quick summary, UNICAP is short for the Uniform Capitalization rules [...]

How the New Tax Legislation May Affect Charitable Giving

By | 2018-02-27T14:19:38+00:00 February 9th, 2018|Deductions, Donation, Fundraising, Gifts, Nonprofit, Tax Reform|

The recently approved tax reform has many implications for American taxpayers, including those who are charitably inclined.   Previous tax law provided a deduction to those who donated to charity while also being able to itemize his or her deductions.  Although the overhaul to the tax law did not directly change the deduction for donating to [...]

Medicaid Planning for Long-Term Care

By | 2018-02-09T11:02:20+00:00 February 9th, 2018|Estate Planning, Long-Term Care, Medicare, Preparation|

Imagine you worked your entire life to pay off your mortgage and build a retirement fund and then your health failed to the extent that you needed to relocate to a nursing home. Due to lack of other programs and the costs, Medicaid has become the Long-Term Care planning tool for the middle class. Medicare [...]

Internal Controls for Small Organizations

By | 2018-02-09T11:02:32+00:00 February 9th, 2018|Board, Nonprofit, Preparation|

Why Internal Controls are Important A survey conducted by the Association of Certified Fraud Examiners estimates that all organizations lose an average of between five and six percent of their revenue to fraud every year.[i]  Applying this percentage to the nonprofit sector would suggest that the fraud loss may reach approximately $40 billion each year.[ii] [...]

Personnel Files: What Should They Contain?

By | 2018-02-09T11:02:39+00:00 February 9th, 2018|Employment, Records|

Having employees is not only critical to the operations and success of your business, but they also add compliance and record-keeping requirements that are sometimes overlooked.  Many small and medium-sized companies do not have the need or financial resources to hire a human resource professional, therefore, those duties normally fall on the controller, bookkeeper or [...]

Are Non-Compete Agreements Essential to Proving Damages?

By | 2018-02-13T12:18:30+00:00 February 9th, 2018|Damages, Litigation Support, Non-Compete|

Certain service businesses which rely heavily on their customer book of business are more likely to be damaged by the actions of an employee who has left the company with customer lists, trade secret information or other personnel and used it for their own financial benefit. Companies can incur a severe loss of value to [...]

Guidelines for When Nonprofits Must Issue Receipts

By | 2018-02-09T11:02:53+00:00 February 9th, 2018|Donation, Gifts, Nonprofit, Records|

Why are receipts required? Before we take a deep dive into the various situations of when a receipt is actually required, let’s look at why the IRS wants organizations to provide receipts.  For 501(C)(3) organizations that want to remain a public charity they must be publicly supported.  Public support refers to the amount of support [...]

Tax Reform: What’s in it and How Will it Affect You?

By | 2018-02-27T14:19:54+00:00 February 9th, 2018|Change, Deductions, Preparation, TAX, Tax Reform|

On December 20th, 2017 Congress passed a sweeping overhaul of our tax code. The ‘Tax Cuts and Jobs Act’ revises a significant portion of tax law that affects almost all taxpayers in some way. Below is a listing of a few significant tax provisions that will change. Please note that most of these changes take [...]