News & Events

Tax-Advantaged Health Accounts

Which tax-advantaged health account should be part of your benefits package? On October 12, an executive order was signed that, among other things, seeks to expand Health Reimbursement Arrangements (HRAs). HRAs are just one type of tax-advantaged account you can provide your employees to help fund their health care expenses....

Risk Management Steps You Can Take Today

Risk Management

It is fairly straightforward to manage the risks surrounding your volunteers. In fact, most of what’s involved simply reflects sound management practices. Consider these easily implemented steps: Put policies in place. Develop a risk management policy that clearly establishes proper procedures for volunteers to follow — including appropriate use...

Year-End Tax Planning

As the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. In many cases, this will involve the time-honored approach of deferring income until next year and accelerating deductions into...

Avoid Fake Charity Websites

Heads-up! Bad guys are exploiting the Las Vegas shooting. There are fake Facebook pages, tweets are going out with fake charity websites, and phishing emails are sent out asking for donations to bogus Vegas, Harvey and Irma Charities.  Don't fall for any scams. If you want to make a...

Delayed Implementation Date for Some

The Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842) which allows for a later adoption of the revenue and lease ASU's. This option is made only to businesses...

FASB to Amend U.S. GAAP for Classifying Debt

- by Linda Marie Pearson, CPA, CFE In September 2017, FASB agreed to amend U.S. GAAP with respect to classification of debt.  Under the forthcoming update, if a liability is due to be settled more than one year or more than one operating cycle after the balance sheet date,...

New RI Personal Income Tax Modification for Pension Income

A new Rhode Island personal income tax modification applies for income from private‐sector pensions, government pensions, 401(k) plans, 403(b) plans, military retirement pay, annuities, and other such sources.   Approved by the Rhode Island General Assembly, and signed into law by Rhode Island Governor Gina M. Raimondo on June 24,...

2017 October News in Review

Sansiveri’s 2017 October News in Review is a summary of news, events and links that we shared throughout the month of September. Just in case you missed an earlier post or email, this issue includes information a summary about Trump's Tax Reform Framework; qualifying for an R&D tax credit;...