Articles

The 2019 Washington legislative session has ended, but it was a busy year in terms of tax related bills. The enacted legislation includes business and occupation (“B&O”) tax increases on certain service businesses and financial institutions, changes to the international investment management B&O tax classification, and a move to a graduated real estate excise tax.

Posted by: Karen Dunn

This is updated from an article that was originally published on 8/1/2017. It is time again to prepare to file the Form 990. Calendar year returns for 2018 are due May 15 and may be extended to November 15. Even fiscal year organizations can start thinking about it or they may be filing for 2017 now. […]

As you’ve likely heard, ASU 2016-14, called Presentation of Financial Statements of Not-for-Profit Entities, was issued in August 2016 and is effective for fiscal years beginning after 12/15/17. The standard applies to all organizations, regardless of size. The ASU has changes in five key areas: Net asset classification Disclosures about liquidity and availability of financial […]

This article was originally published on AccountingWeb, 12/7/2018. As the holiday season approaches, your retail clients who offer a layaway option must know to accurately apply sales tax rules of their state to layaway purchases. While these types of sales may be small, they are an important area of compliance. More importantly, layaways are likely […]

Posted by: Jane Searing

The Key Worldwide Foundation, formed in 2013, now finds itself at the center of the college admissions scandal grabbing headlines the last couple weeks. Over the years, millions of dollars had flowed through the charity as part of the scheme without IRS detection. Watching the story develop, it was interesting how quickly attention turned to […]

This article was originally published on AccountingWeb, 9/10/2018. There’s little doubt e-commerce businesses will feel the impact of the Wayfair decision, but as the states either introduce or dust off their economic nexus rules for remote sellers, one area where the state rules diverge is their measure of economic thresholds. Economic nexus allows the states […]

This article was originally published on AccountingWeb, 10/30/2018. As the impact of the Supreme Court’s case on Wayfair Inc. continues to play out, some commentary has focused on different aspects of the decision including the fact that in all sales tax states, long-standing laws already compel consumers who make tax-free purchases to self-remit the taxes […]

What is Cybersecurity?

Posted by: Steve Vasconcellos

The perception of cybersecurity is one filled with mysterious hackers in their jeans and hoodies, sitting in a dark room, combating one another in digital cyberspace. While this perception may not be entirely untrue, cybersecurity doesn’t have to be that dark, veiled, and incomprehensible. And it’s really not. Cybersecurity is a business process, not just […]

Recently, you may have received a notice from out-of-state sellers identifying various online purchases for which you were not charged sales tax. Here is what you need to know concerning the notice: A change in state tax law, effective January 1, 2018, requires out-of-state sellers and marketplace facilitators (e.g., Amazon.com) with sales of $10,000 or […]

Posted by: Cheryl R. Olson

In this current environment, it’s common to hear about the importance of transparency. Keeping your own website updated with current information is important, but you also have some control over what the public learns about your organization through other websites, such as GuideStar. GuideStar gathers, organizes, and distributes information about nonprofit organizations in the United […]

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