Does Your Nonprofit Need an Independent Audit?
When it comes to audits, an independent nonprofit audit is different than an IRS audit. An independent auditor, who should be a Certified Public Accountant (CPA), completes an independent audit. These...
View ArticleWhich Small Business Records Do You Need to Keep?
Business owners need to know which small business records to keep and for how long. The IRS suggests keeping supporting documents that provide validation of your business. To understand what qualifies,...
View ArticleHow to Prepare Your Company for a 401k Audit
As a company grows, it will experience many milestones, among which is its first 401k audit. As set by the United States Department of Labor (DOL), a 401k plan should be audited when it becomes a large...
View ArticleBroker Dealer Audit Deficiencies
The Public Company Accounting Oversight Board (the “PCAOB”) recently released its annual report of findings in audits of broker dealers under its interim inspection program. For the fourth year in a...
View ArticleWhat is Required for an Employee Benefit Plan Audit?
An employee benefit plan audit can feel like an immense undertaking. The rules and regulations are complicated and the process can be time-consuming and tedious. In 1974, the federal government passed...
View ArticleTax Return Preparation: How to Choose an Accounting Firm
Tax return preparation is often an overwhelming task that causes headaches and concerns. Selecting the right tax preparer to examine your financial statements and prepare a tax return is crucial;...
View ArticleSelling Your Home? Answers to Your Top Real Estate Tax Questions
If you are planning on selling your home, you probably have some real estate tax questions. Regardless of whether you report a loss or a gain from the transaction, the sale of your main residential...
View ArticleHow to Have a Positive Broker Dealer Audit Experience
Broker dealers registered with The Financial Industry Regulatory Authority and the Securities and Exchange Commission (SEC) are required to have an annual financial statement audit. Broker dealers with...
View ArticleHow Important Are My Small Business Accounting Records?
Small businesses often are forced to do so much more with far less resources. The question is often posed: “How important are my small business accounting records?” Records require time for filing,...
View ArticleRoles and Responsibilities of a Nonprofit Audit Committee
Embarking on an independent audit is a complicated, yet necessary process for many organizations. When it comes to nonprofit audit responsibilities, there are often questions about which task belongs...
View ArticleFull Scope Audit or Limited Scope Audit- Which One and Why?
When planning for an audit of your 401(k) or other retirement plan, you might question if a full scope audit or limited scope audit should be conducted. It is important to determine if your plan...
View ArticleCalifornia Nonprofit Audit Requirements
The nonprofit world is full of government regulations, best-practices and donor requirements. It can be difficult to navigate these mandates and determine exactly what an organization needs to do to...
View ArticleThe Objectives of a Broker Dealer Audit
In recent years, the Federal government has closely scrutinized the financial statements of broker dealers. The broker dealer audit process is rapidly evolving, and organizations are scrambling to keep...
View ArticleHow to Choose an Employee Benefit Plan Auditor
The U.S. Department of Labor is increasing its scrutiny of certain retirement plans, and fines are high for non-compliance. Federal law requires most employers who manage benefit plans with 100 or more...
View ArticleNonprofit Audit Checklist
Nonprofits operate differently from for-profit entities. While nonprofits receive certain tax benefits, they are also subject to greater financial scrutiny. Many nonprofits are required to submit to an...
View ArticleEquity Compensation Tax Planning for High Tech Employees
There is no doubt that the technology field is growing quickly. As more and more employees decide on high-tech careers, the need increases for accounting professionals who understand the intricacies of...
View ArticleFiscal or Calendar Year? Which applies to your business?
Starting a small business is an enormous task, and as you move forward, there are many important decisions to make. Are you operating under the calendar or fiscal year? As a small business owner, you...
View ArticleMistakes That Trigger a 401k Audit
Mistakes That Trigger a 401k Audit Being subject to an IRS audit can be an unnerving experience, so it’s understandable that organizations would want to prevent one. Benefit plan administrators should...
View ArticleThe Nonprofit 501(c) Audit
When it comes to your nonprofit, there are different audit approaches to verifying sound financial management practices and operational compliance. The scope of work to review your nonprofit will vary...
View ArticleThe Nonprofit Giving Season: How to Stay Compliant with Your Fundraising...
As the end of the traditional tax year approaches, giving is on the minds of many business leaders and philanthropists. It’s a busy season for nonprofit professionals and you’re likely ramping up your...
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