Joe Ryan, CPA, provides some insight on Rainy-Day Funds for the Nonprofit video series.
This week's segment of the Nonprofit Performance Measurement video series, Amanda Lane, CPA, provides guidance on how to measure the savings indicator rate.
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 [...]
TD&T Assurance Principal, Joe Ryan, CPA provides the first in our Performance Measurement Video Series. This week's episode is on the metric: Days in Cash.
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 [...]
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] [...]
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 [...]
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 [...]
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 [...]
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 [...]