News & Articles
PIC-NG Guidance For Emergency Housing Vouchers (EHVS)
Is there any guidance regarding PIC-NG for Emergency Housing Vouchers (EHV)? Summary: Emergency Housing Vouchers (EHV) funds allocated to the PHA for HAP (both funding for the initial allocation and
When a Nonprofit is Required to Have an Audit
When is a non-profit required to have an audit performed by an independent certified public accountant? Overview: Non-profit entities are regulated by both federal and state laws. It is important
What to do before setting up a corporation
An easy 5-step guideline to successfully incorporate your business in 2021 Whether you’ve been in business for a while or you’re a start-up, you may be considering incorporation or another
Determining the right accounting software for your needs
Small business tips: Determining the right accounting software for your needs Guidance to better understand general accounting software options so you can choose one that meets your small business needs
Maximize professional bookkeeping or accounting services.
“Bookkeeper” (or bookkeeping) is the only common word in the English language to contain three pairs of double letters in consecutive order — it’s also today’s topic of conversation If
How to prepare your nonprofit organization for the first financial statement audit
As your nonprofit grows and the size of your grants and contribution revenue grow, you may be required to have a financial statement audit in order to secure or continue
What you need to know about hidden payroll processing fees
Are you looking for a payroll processing company but have concerns about hidden payroll costs? Here are a few things to consider. While processing your own payroll can be convenient,
Did You Know Virtual Currency is Taxable
Virtual currency transactions are taxable by law just like transactions in any other property. The IRS is aware that some taxpayers with virtual currency transactions may have incorrectly reported or
Recordkeeping for Small Business
Small business owners should keep good records. This applies to all businesses, whether they have a couple dozen employees or just a few. Whether they install software or make soft-serve.
Business, Family, Property? When to Contact Your CPA
THE WORST TIME TO CONTACT YOUR CPA There are two times you shouldn’t contact your CPA: During your annual tax return appointment When you submit your documents to the CPA
The Different Component Units
Blended Component Unit (BCU) vs. Discretely Presented Component Unit (DPCU) Component units is a gray topic that never really seems to get answered despite its presence in government accounting. But
Compliance requirements for new nonprofit organizations
Overview: Learn what is required to be a compliant nonprofit organization early on. Like all businesses, starting a nonprofit organization means that you have to follow compliance standards in order
Moving to Work: HUD’s self-funding program for Housing Authorities
Overview: Chad Porter, CPA, CFE provides details on the latest HUD self-funding program, Moving to Work, and it’s flexible spending initiatives. In recent news, HUD has stepped things up a
Update! Lean Six Sigma helped us — it can help you, too
Overview: Improve team collaborative performance by systematically removing waste and reducing variation. Lean Six Sigma (LSS) is the process improvement method to analyze company processes, find issues in the process,
Why nonprofits should report accurate fundraising expenses
What you should know about reporting fundraising expenses (when NPOs should report; exceptions; effects of cutting corners) There is often reluctance when it’s time to report fundraising expenses, and for
Kendra Dockham’s #1 benefit of hiring a CPA firm for audits, reviews, and 990
Learn the benefits of having one CPA firm perform your audit, review, and/or 990 form. Do you know why you should hire a CPA firm for your accounting needs as
Douglas Englehart shares 2 important tips to successfully handle an audit
Here are two of the biggest steps you can take to handle an audit with confidence and comfort. If preparing for your upcoming audit seems daunting, you’re not alone. Many
Learn what to look for in a LIHTC auditor with professional advice from Chad Porter
There are certain questions you should ask when looking for a LIHTC auditor Finding the right LIHTC auditor is more than just Googling the term online. Let’s consider the answer
How to get a low income tax credit
Unfortunately due to USPS having unprecedented shipping delays during the Pandemic, When and if you purchase the KEY LIMES, we will ship ASAP, but it will be your SOLE responsibility
The keys to success: Smith Marion webinar discusses how to have a successful accounting career
Accounting firm SMCo successfully holds first Leadership Academy webinar for college students to learn how to have a successful accounting career Becoming an accountant is one thing, but knowing what
Getting the most out of individual tax service packages: The best package for your needs (standard, executive, or premier)
With full service tax services that are geared toward individual pricing, there is something advantageous for every client. Most accounting firms offer different tiers of tax service packages for clients to
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