Trump Tax Reform Plan: How It May Affect You and Your Company
One of the topics talked about all year is how our tax system needs to be greatly improved and just this week, President Trump and [...]
Don’t Compare Your Private Club to a Restaurant
“Why is our food and beverage operation losing money?” “Why are we budgeting to lose money in that area?” “My buddy earns a fortune running [...]
Fiduciary Responsibility: An Expectation of Trust
The IRS, through its revisions to Form 990, requires reporting by not-for-profits on a range of governance issues including board member “fiduciary duty” and their ability to gain the trust of their organization. What is fiduciary responsibility and what does it mean to the board of a not-for-profit?
401(k) Plan Check-Ups Help Plan Sponsors Maintain Compliance
Many employers sponsor retirement plans to benefit their employees. While there are a variety of plans to choose from, one of the most popular options [...]
4 Things You Should Know About Troubled Debt Restructuring
Troubled Debt Restructuring (TDR) accounting has some of the most difficult accounting rules to interpret, primarily because they are subjective in nature.
State and Local Tax Compliance for Government Contractors
The federal government is, by law, exempt from paying state and local taxes. However, this exemption does not apply to organizations with federal or state government contracts, [...]
What You Should Learn from the Equifax Data Breach
Equifax, one of the three main credit reporting companies, announced last week that the personal information of 143 million people was exposed in a data breach – one of the largest in U.S. history.
How to Recreate the Country and City Club Lifestyle
Although many private golf and country clubs turned a corner in 2016 and began to attract more members, overall membership and revenue have still not [...]
Renting Dorm Rooms for Additional Funding
Fox Business recently ran an article on a creative way non-for-profit universities have been raising funds. (See the article here). As a basic summary, universities have [...]
Now Is the Time to Pay Back Taxes to Virginia!
Virginia Announces Amnesty Period to Start September 13. Virginia taxpayers have an opportunity to “come clean with the tax man” as the Virginia Department of [...]