Developing News: 2015

My husband and I just opened our first restaurant, and we were very excited to hear the IRS came out with a new tax regulation that would actually benefit us.  The new rule allows private companies to increase the de minimis safe harbor threshold from $500 to $2,500 for companies without audited financial statements.

In other words, companies can expense items that do not exceed $2,500 per invoice (or per item as substantiated by the invoice).

As you can imagine (and many of you can relate) there are numerous purchases required to start a new small business.  The happy result for us is that we can now expense tables,

 » Read more

Preparing for the Tacoma Paid Leave Ordinance

Do you have employees who work within the City of Tacoma? Effective February 1, 2016, Tacoma’s Paid Leave Ordinance becomes effective for all employees who work over 80 hours in a calendar year within the Tacoma city limits.

Employers under this ordinance will be required to provide 1 hour of paid leave for every 40 hours worked by an employee in the City of Tacoma. Employees can begin using their accrued paid leave 180 days after their hire date. Under the Paid Leave Ordinance, employees can use paid leave for their needs or the care of a family member for medical reasons,

 » Read more

Recently, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2015-11 on simplifying the measurement of inventory. The purpose of the update was to:

  • Reduce cost and complexity
  • Provide users of financial statements more comparable information
  • Increase convergence to IFRS.

What’s changed, and what hasn’t

The primary provision of the amendment is to change the subsequent measurement guidance from the lower of cost or market, to lower of cost and net realizable value (NRV). This change eliminates the need to determine replacement cost and evaluate whether it is above the ceiling (NRV) or below the floor (NRV less a normal profit margin).

 » Read more

Three Common Myths About Saving Money

With recent news articles about the Euro, downturns in the Chinese stock market and potential inflation, many clients are nervous about their portfolios. Now is a great time to take an objective look at some common myths about saving money.

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 but they are not the best vehicles for long-term investments. Why? It’s because inflation is working against you, and you may have negative returns after taxes and inflation. Also,

 » Read more

But There Are Some Winners, Too

By now you’ve probably read or heard about the brinksmanship leading up to the enactment of the State of Washington’s operating budget for the 2015 – 2017 biennium. The $38.2 billion budget was passed by the legislature in the wee hours of the morning of June 30, and signed into law by Governor Inslee that night, narrowly avoiding the state government shutdown that would have otherwise resulted.

Among the headline features of the new budget are tuition reductions of 15 – 20% at the state’s public universities and increased funding for K-12 education, which will allow for reduced class sizes in grades K-3 and expanded full-day kindergarten.

 » Read more

March Madness- the Time to Focus on Benchmarking

The NCAA March Madness basketball tournament is an exciting time of year, where athletes compete at the highest level against long-time rivals. It is the time for teams to match their skills against their competition and vie for the opportunity to cut down the net.

It’s not too late for companies to hold their own financial March Madness. As the first quarter of 2015 is wrapping up, now is the time to evaluate your company’s performance against goals, your peer group and/or industry standards. Is your company’s first quarter performance at a level where you can compete in the Final Four?

Benchmarking is an effective tool that management can use to assess the company’s relative position or performance.

 » Read more

I recently read a couple of articles that caught my attention because they highlighted the important responsibility employers have in management oversight of their sponsored retirement plans.

One lawsuit was recently settled for $62 million, in which the employees accused the employer of mismanaging their 401(k) plan. The lawsuit stated that the employer hid excessive fees and invested in conservative investments that resulted in diminished investment returns for plan participants. In another case, the U.S. Supreme Court will soon hear arguments where participants in a 401(k) plan argued that they were being charged excessive fees.

These cases raise the question: what are the employer’s fiduciary responsibilities with respect to retirement plans they sponsor?

 » Read more

Lessons Learned in Obtaining CMBS Financing

Hotel development is on an upswing in the Seattle area  ̶  more than 1,200 rooms are currently under construction with many more planned. There are several factors contributing to the development: tourism growth, increase in hotel room demand and the improved lending environment.

To capitalize on this growth, one of our firm clients recently obtained a commercial mortgage backed security (CMBS) financing package for the refinance of their hotel property to develop another hotel. This was their first time entering into the CMBS financing world and much was learned along the way. They were kind enough to share some of their lessons learned.

 » Read more

Media Contact

Melissa Takade
Director of Marketing
Clark Nuber
Phone: 425-454-4919
Contact Melissa

Blog Archives

  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013