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News & Events

nonprofit liquidity disclosures

The New Nonprofit Liquidity Disclosures

February 16, 2018

Accounting Standards Update 2016-14 “Liquidity worries haunt nonprofits,” intoned CFO Magazine in a 2009 headline. At that time, not-for-profit organizations were scaling back, and few were sitting on cash. This lack of liquidity worsened nonprofits’ financial straits during the recession and afterward. Hard times, in turn, made liquidity harder to achieve. Most nonprofits struggled and…

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FASB Improves Accounting

FASB Improves Accounting Related to the Tax Cuts & Jobs Act

February 15, 2018

The Financial Accounting Standards Board (FASB) addressed an accounting issue created by the Tax Cuts & Jobs Act by releasing FASB Accounting Standards Update (ASU) 2018-02, Income Statement – Reporting Comprehensive Income. This ASU addresses an accounting issue having been coined the name “the stranded tax effect” and is relevant for those entities structured…

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Employer Tax Withholding

Is Your Employer Withholding Enough in Taxes?

February 13, 2018

The Internal Revenue Service recently released Notice 1036, which updates the income-tax withholding tables for 2018. This reflects changes made by the signed Tax Cuts and Jobs Act. The update shows the new rates for employers to use during 2018, and should be implemented as soon as possible, but not later than…

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Bonus in 2017

Should You Take Bonus Depreciation on Your 2017 Tax Return?

February 12, 2018

Claiming bonus depreciation on your 2017 tax return may be particularly beneficial. With bonus depreciation, a business can recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Tax Cuts and Jobs Act (TCJA), signed into law in December, enhances bonus depreciation. Typically, taking this break is…

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You can now receive your free 2017 Tax Planning Guide filled with helpful explanations of the current federal tax rules and tax tables.

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2017 Tax Guide

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