Knowledge and Insights: Newsletters
Relief For Small Business Retirement Plan Filing Penalties
The Internal Revenue Service began a one-year pilot program last June to help small businesses with retirement plans that owe penalties for not filing reporting documents. By filing current and prior year forms during this pilot program, they can avoid penalties. The IRS is reaching out to certain small businesses that maintain retirement plans and…
Writing A Successful Business Profit Plan
Now more than ever, clients are reaching out to us for advice on how to create successful business plans that will consistently drive profits. Many thriving businesses begin with someone’s great idea for a product or service. While that first inspiration is critical to any successful company, it is also advisable to have a solid…
Paying for College? It’s Never Too Early or Late to Plan
As the weather turns cooler and leaves change color, we reflect back on the joys of summer vacation and look forward to next summer. Back-to-school brings the familiar routines of homework, school sports and other extracurricular activities. For parents of some high-school students, however, it also brings question- and decision-time about college: where to apply;…
Are You Subject to FATCA?
It’s a fact – FATCA is here. What is FATCA? How does it impact you or your company? If FATCA does apply, are you or your company compliant with its various requirements? These are just a few of the questions that individuals and companies must address as they relate to the provisions of FATCA, short…
The U.S. Ranks Number Nine in Financial Literacy
The Organization for Economic Co-operation and Development (OECD) has released the statistics on the Program for International Student Assessment (PISA) which surveyed students in 18 countries on their knowledge and skills in dealing with financial issues. The OECD reports, “PISA included an assessment of students’ financial literacy – the first international survey of its kind.…
Data Analytics: A Valuable Investigative Tool
“Time is money” is an age-old expression deeply rooted in the lexicon of most individuals and businesses, especially those that derive their income by providing a service to others. In forensic and litigation support engagements, some of the most daunting tasks involve the procurement and analysis of large, disparate datasets. The ability to efficiently combine…
Tracking Data Theft By Thumb Drive
The theft of electronic information is rampant in today’s business world. It can be done by a disgruntled employee, a hacker looking to steal identities, or business partners looking to leave and start anew. USB devices are a convenient way to transfer files among colleagues, but they also serve as the primary means of data…
Reverse Mortgages: A Holistic Approach
The Home Equity Conversion Mortgage (HECM), aka reverse mortgage, is an extraordinary tool when utilized in the proper manner at the proper time for the proper individual.
File & Suspend: A Social Security Strategy
The file and suspend Social Security strategy received media attention after the 2015 fiscal budget was released by the White House earlier this year. The Obama administration, in their budget narrative “proposes to eliminate aggressive Social Security claiming strategies, which allow upper-income beneficiaries to manipulate the timing of collection of Social Security benefits to maximize delayed…
The New VUCA Paradigm
Mercadien’s Nonprofit Co-Services leader, Lisa Thouin, and I attended the AICPA’s Not-For-Profit (NFP) Industry Conference, a three-day event in Washington, D.C., where we learned about industry trends, developments on the accounting and reporting fronts, and current product and service offerings. While we had refreshers on nonprofit accounting, advanced 990 issues, accounting for contributions, as well…