Preparation

Performance Measurement: Savings Indicator Rate

By | 2018-06-19T08:11:38+00:00 April 17th, 2018|Budget, Goals, Nonprofit, Performance Measurement, Preparation, Saving, Tips|

This week's segment of the Nonprofit Performance Measurement video series, Amanda Lane, CPA, provides guidance on how to measure the savings indicator rate.

Estate Tax Closing Letter Requirements

By | 2018-04-17T10:30:43+00:00 March 20th, 2018|Estate Planning, IRS, Preparation|

Prior to June of 2015 the IRS issued an estate tax closing letter for every estate tax return filed. This letter included the amount of net estate tax, the state death tax credit, and any generation skipping tax liability. On June 1, 2015 the IRS began to issue estate tax closing letters only to those [...]

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] [...]

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 [...]

Tax Time with Amie: 2017 Tax Planning Tips with Reform in Mind

By | 2018-02-27T14:20:20+00:00 December 20th, 2017|Budget, Deductions, Donation, Government, Preparation, Saving, TAX, Tax Reform, Tips|

December is in the home stretch, which means crunch time for 2017 year-end planning!  While it’s important to remember that each taxpayer has a unique situation, and therefore no sweeping generalizations are good to make - below are a few items to consider, especially with 2018 tax reform top of mind.  See my previous blog [...]

Preparing for a Successful Audit

By | 2017-10-06T16:57:18+00:00 August 31st, 2017|Assurance, Nonprofit, Preparation|

Dan Montgomery, CPA and Senior Assurance Associate at TD&T, explains what an audit entails and why audits are important.  With more than ten years of experience, Dan specializes in audits of nonprofits, governmental entities and employee benefit plans.  Dan is a member of the American Institute of Certified Public Accountants and the Iowa Society of [...]

Common Strategies when Planning Your Business Succession Plan

By | 2017-10-13T15:39:44+00:00 August 17th, 2017|Gifts, Preparation, Succession Planning|

Vicki Beckey, CPA, CFF, CSEP, Principal and head of TD&T’s estate department, provides some thoughts on planning for business succession.   Most business owners are busy running their business rather than focusing on business succession.  Business owners need to be thinking about what will happen to their businesses when they retire, die or become unable [...]