Knowledge and Insights: Newsletters

Focusing on 4 New Nonprofit Accounting Standards Updates

Happy New Year!  Saying this might make you think of Christmas in July but at Mercadien, July 1st starts our new fiscal year.  Our tradition in the Nonprofit and Human Services Group is to attend the AICPA (American Institute of CPAs) Not-for-Profit (NFP) conference and gather all the information we can to update our staff…

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AICPA Asks the IRS to Change Form 990

Most not-for-profit organizations are required to file Form 990, Return of Organization Exempt from Income Tax. Form 990 is the IRS’ primary tool for gathering information about tax exempt organizations, educating organizations about tax law requirements and promoting compliance. Organizations use Form 990 to share information with the public about their programs while states rely…

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Succession Planning: 3 Emotional and Logical Roadblocks to Overcome

Succession planning is a process that every business owner thinks about, however, identifying and developing new leaders is easier said than done. According to Business Enterprise Institute’s 2016 Business Owner Survey Report: 79% of business owners plan to exit their business in the next ten years, 38% have not taken any steps toward their exits,…

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Unintended Consequences of Changes to Withholding Rates Under New Tax Law

With the passage of the new tax law on December 22, 2017, there may be some unintended consequences of which everyone should be aware.  One change directly affected the federal income tax withholding rate at which taxes are withheld from paychecks.  Employers are required to use these new rates and ultimately reduce employees’ federal withholding…

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Barely Average Financial Education in the U.S.

It might not be surprising, but the United States isn’t close to the top when it comes to basic financial literacy skills among teenage students. Which country is? China. The 2018 Program for International Student Assessment (PISA) survey found the U.S. 7th out of 15 countries surveyed on understanding essential financial concepts and risks. China,…

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Using Social Media as an Investigative Tool

Traditionally, social media was known as a web-based platform that allowed users to create, share or exchange information through virtual communities and networks. Today, the number and types of social media, and the people using them, continue to rise. It has been found, however, that employees often present a very different persona on social media…

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Are You in Control of Your Company? Look Internally.

Overview of Internal Controls and Their Importance We live in a fast-paced and rapidly-changing business environment focused on innovation and efficiency.  With new systems, means of access, and growth, it is critical that your organization consistently reviews and updates its internal controls, policies and procedures. This needs to be done to stay ahead of the…

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Ready, Set, Compliance!

Is your organization required to comply with certain state, federal or industry regulatory guidelines? Are you ready for your next compliance audit? Navigating the sea of regulations that exist today can be cumbersome and costly for businesses, which often do not devote sufficient resources towards compliance audit readiness. Noncompliance, however, can cost more time and…

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How Donor Advised Funds Can Maximize Tax Savings on Your Charitable Deduction Under the Tax Cuts & Jobs Act of 2017

The Tax Cuts and Jobs Act of 2017 made significant changes to itemized deductions for individuals starting in 2018.  While many are focused on the limitation of $10,000 of state and local taxes as a deduction, the tax benefit of your charitable contributions is also impacted.  With the loss of most itemized deductions other than…

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Reasons To Consider Working With An Aging Care Management Consultant

It is estimated that in the U.S. nearly 10,000 people a day are turning age 65, and this will continue for the next 17 years.  The reason… the baby boomers have aged.   The result… the number of older aging adults will reach unprecedented heights in the next 10-20 years.  The impact… there is a significant…

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