Article Archives: 2014

Most organizations view the prospect of an audit by a federal or state taxing authority with trepidation, akin to the prospect of a root canal or a long weekend with the in-laws. 

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By Shelly Archuleta, CPA

Over the last decade, an increasing number of plan sponsors and third-party administrators (record-keepers) have moved to a paperless environment. Almost anything can be kept on a hard drive or in the cloud.

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By Cheryl Olson, CPA, CGMA

Due to highly publicized fraud cases and poor governance practices, as well as state budget issues, more people are scrutinizing the activities of not-for-profit organizations.

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The IRS has busted through the logjam of applications for recognition of exemption due in part to the now available Form 1023-EZ. A shorter application released in July, the 1023-EZ provides certain “small” organizations with a streamlined process for obtaining a determination.

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In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. This standard will impact all entities that have contracts with customers,

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By Joe Haberzetle, JD, LLM

Many Washington not-for-profits benefit substantially from the various property tax exemptions provided in state law. Private schools, churches, hospitals, museums and performing arts centers are among the organizations that can be granted exemptions from property taxes on the land and buildings they use,

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Myth #1-Cash is “safe”

Reality Check-Money Market, Savings Accounts, T-Bills, and Cash under the mattress are all considered cash equivalents. These are great vehicles for short-term investments or emergency accounts. 

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By Megan Ryan, CPA

Beginning in calendar year 2015, certain employers must comply with the Affordable Care Act requirement to offer health insurance to full time employees. In conjunction with this requirement,

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By Jennifer Becker Harris, CPA

New international tax developments over the last six months will affect U.S. charities and provide welcomed relief in some areas and added compliance in others.

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If you are part of organization that is audited or have been involved in audits with a prior organization, you understand that audits can cause a significant amount of stress and anxiety.

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