Article Archives: 2019

Posted by: Maria Keating

Earlier this year, Oregon enacted a form of gross receipts tax that will apply to taxpayers in addition to the state’s income tax. The voters had 90 days to reject H.B. 3427 through their referendum power provided by the Oregon constitution. A similar bill was turned down previously, but due to several potential reasons, the […]

Posted by: Julie Eisenhauer

Effective inventory management and menu pricing are common challenges for owners of restaurants of all sizes. To be successful, owners must manage expenses, monitor cost fluctuations, improve ordering processes and respond with timely menu price increases. Preparing a profit and loss statement, and understanding how to interpret the results of the statement, provides an owner […]

Posted by: Julie Eisenhauer

As we approach the year’s end, this is a good time to consolidate plans for next year. For the hospitality industry, the Lodging Conference kicks that process off. I recently attended the 25th annual Lodging Conference, where hotel owners and executives meet to strategize and learn about development, finance, management and operations.  I returned with […]

Posted by: Victoria Kitts

Has your organization completed an enterprise risk management assessment? Your external auditors may ask this question, and you may wonder why. Your financial statements are audited annually by an independent audit firm. You have insurance policies in place, including insurance that covers cyber-attacks. Your staff keeps current on the list of federal, state, and local […]

Posted by: Jane Searing

In July of 2018, the IRS issued Revenue Procedure 2018-38. This new procedure reduced donor disclosure requirements on all organizations exempt under Internal Revenue Code §501(a), other than §501(c)(3) charities; §501(c)(7), (8), and (10) organizations accepting gifts for charitable purposes; and §527 political action committees. Thus, for all other tax-exempt organizations, the contributors’ names and […]

Posted by: Cheryl R. Olson

This article originally appeared in the Journal of Accountancy ©2019 Association of International Certified Professional Accountants. In a way, board oversight has the same impact on a not-for-profit organization that parenting has on a child. Performed effectively, board oversight provides the framework for the organization to grow and prosper. But when the board is dysfunctional […]

Posted by: Joe Haberzetle

Updated 9/18/2019, 9:15 PM What Changed? The Washington legislature recently enacted legislation that dramatically changes aspects of the state’s Real Estate Excise Tax (REET). Unless real property is classified as timberland or agricultural land, the REET rate structure will be changing on January 1, 2020. The current flat rate of 1.28% for the state portion […]

Posted by: Kelly Rancourt

Each year, the Office of Management and Budget (OMB) issues a 2 CFR Part 200, Appendix XI Compliance Supplement (Compliance Supplement). The Compliance Supplement provides a road map auditors should follow when performing a Single Audit (established under the Single Audit Act of 1984) and explains how to test the various applicable compliance requirements. Each […]

Posted by: Jane Searing

Working for a not-for-profit organization puts mission and meaning front and center for employees every day. However, there can be limiters associated with working at a not-for-profit. A charitable not-for-profit is prohibited from intervening in any political campaign, an act known as electioneering. What does this mean for the not-for-profit’s employees? Can they break free […]

Posted by: Megan Ryan

The Taxpayer Advocate Service (TAS), an independent organization with the Internal Revenue Service, recently produced and submitted its Annual Report to Congress, and the separate Objectives Report to Congress. TAS exists to protect taxpayers’ rights, help taxpayers resolve problems, and recommend systematic changes at the IRS or in tax law. Over the past two decades, […]

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