News & Events

Five Key Performance Indicators That Sureties Watch

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When surety underwriters review your financial statements, they are looking for evidence of sound financial condition. Every underwriter has its own standards and expectations, but here are five key performance indicators (KPIs) many bonding companies look at closely: 1. Working Capital: Sureties typically adjust the textbook definition of...

2017 May be the Year for Manufacturing in R.I.

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In January 2017, Governor Gina M. Raimondo announced her intentions of focusing on the manufacturing industry as part of her efforts to ensure that every Rhode Islander has an opportunity. Governor Raimondo’s new Rhode Island Manufacturing Initiative will be focusing on providing “manufacturing companies the tools they need to invest...

The R&D Tax Credit: IT’S NOT just ROCKET SCIENCE!

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- by David Lichtenstein, CPA, MST You know that guy, right? The one who always manages to blurt out “It’s not rocket science!”, when you are struggling to figure something out. Don’t be that guy. Don’t be that guy who loves to state the obvious. I mean really, does anyone...

Rethinking Nonprofit Financial Reporting

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The Financial Accounting Standards Board (FASB) has issued new accounting standards for nonprofit financial reporting. The update, Presentation of Financial Statements of Not-for-Profit Entities, is designed to help nonprofits present their financials in a way that tells their story more transparently. A Clearer Picture, Inside and Out Both internal...

2017 February News in Review

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Sansiveri’s 2017 February News in Review is a summary of news, events and links that we shared throughout the month of January. Just in case you missed an earlier post or email, this issue includes information about David Lichtenstein's New Blog: Sir-Tax; how new lease accounting rules may affect...

Amazon Makes Friends With the RI Division of Taxation

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Just what is use tax? -by David Lichtenstein. CPA, MST You know that silly question that your accountant asks you every year about out-of-state or online purchases that you made, which may be subject to Rhode Island use tax? Cue the sound of crickets chirping. Well, let me briefly and...

Introducing Sir-Tax

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THIS JUST IN: RHODE ISLAND CPA DAVID LICHTENSTEIN HAS EPIPHANY: STARTS TAX BLOG (SIR-TAX) DURING TAX SEASON! The Five Most Common New Year's Resolutions: • Exercise (I personally like to add a few pounds to keep warm in the winter.) • Eat healthy (Doesn't pizza contain all the major...

How New Lease Accounting Rules May Affect Contractors

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Earlier this year the Financial Accounting Standards Board (FASB) issued its long-awaited revised lease accounting standard. The new standard – Accounting Standards Update (ASU) No. 2016-02, “Leases (Topic 842)” – could have a significant impact on many contractors that lease vehicles, equipment or buildings. FASB standards apply to all contractors...