Posted by Laura Sefcik and Gary DunnWhat are your priorities when it comes to passing on your wealth and property from one generation to the next? One key consideration for most individuals is the desire to avoid probate. Probate is the legal process of administering and accounting for assets of...
Read MoreIn the complex landscape of financial reporting, entities in the U.S. must navigate a unique set of standards and regulations. Our recent CPE seminar on financial reporting for private companies shed light on not only the governing bodies that create these unique reporting requirements, but also...
Read MoreWhen your entity receives federal funds, any purchases you make with federal funds, whether goods or services, must adhere to the Uniform Guidance rules outlined in the Code of Federal Regulations (CFR), specifically 2 CFR Part 200. These rules are designed to ensure procurement processes are...
Read MoreNot-for-profit entities are typically well-versed in the need to track grant expenditures, and may have robust accounting systems or policies and procedures in place. However, for-profit entities may not be as familiar with the importance of tracking grant expenditures separately. Grant...
Read MoreThe real estate markets have endured countless boom-and-bust cycles over the years, resulting in extreme valuation highs and some very significant lows. One day your property has positive cash flow, the valuation has more than doubled, new tenant move-ins are out pacing move-outs and expectations...
Read MoreWhile a not-for-profit entity receiving federal funds is subject to what’s known as a Single Audit, a lesser known fact is that for-profit entities awarded federal grants also have an audit to prepare for, helping to ensure those funds are being used appropriately. As such, for-profit...
Read MoreWhile not-for-profits such as schools, housing agencies and local charitable organizations commonly receive federal grants in many capacities, these dollars are available to many types of entities, including for-profit entities. Often, grants are made to for-profit organizations from agencies...
Read MoreIf you’re one of many companies due to file their beneficial ownership information (BOI) reports by January 1, 2025, you might be wondering, “When do I really need to start this process?” Similar to other regulatory reporting requirements, it’s always best start data...
Read MoreThe beneficial ownership information reporting obligations under the federal Corporate Transparency Act require a reporting company to provide certain information about their organization and each beneficial owner and applicant. If you’re the reporting company, you must provide full...
Read MoreOne of the most dreaded replies coming from a professional services provider is, “it depends.” Unfortunately, that’s truly the case when the issue involves the most optimal tax structure for your transaction. This is because, like most things in life, there are many variables...
Read More