Tax Planning Series Part 4: Year-End Tax Planning for 2017

Year-end tax planning can provide most taxpayers with a good way to lower a tax bill that will otherwise be waiting for them when they file their 2017 tax return in 2018. Since tax liability is primarily keyed to each calendar tax year, once December 31, 2017 passes, your 2017 tax liability for the most… Read more »

Professionally Trained Benefit Program Auditors Help Maximize Benefit Performance

Providing your employees with a comprehensive and competitive benefits program that includes 401K, insurance benefits, and other investment options can certainly help with retaining your most critical employees. This can save you the time and effort of having to hire new employees, specialists, and training them to a satisfactory level. Here at Larson Company, headquartered… Read more »

LEASE ACCOUNTING STANDARDS UPDATE

In February of 2016, a new accounting standard was released which requires all leases with a term of more than 12 months to be recognized on the balance sheet as assets and liabilities. The following is a brief overview of the standard and how it might affect your organization. WHO WILL BE AFFECTED? The new… Read more »

Less than 6 months until the new contract revenue guidance goes live!

The sweeping new revenue recognition standard goes into effect soon. But many companies are behind on implementing it. Whether your company is public or private, you can’t afford to delay the implementation process any longer. 5 steps Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, requires companies following U.S. Generally Accepted Accounting… Read more »

Don’t let Blockchain scare you!

By Cameron Hodson, CPA The current buzz regarding Blockchain technology seems to point to certain doom for CPAs and auditors in the future. But in weighing the facts of business finance and the functionality of an auditor, the bottom line seems to be this: Blockchain has a long way to go before it disrupts financial… Read more »

Tax Planning Series Part 3: Recent developments that may affect YOUR tax situation

The following is a summary of important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the… Read more »

How to be SOC ready!

by Andrew Wan, CPA, CFE   More and more customers are requesting service organizations to obtain a Service Organization Control (SOC) audit in order be qualified to become their vendors. When such requests are received, how does a service organization prepare for a SOC audit? The following steps describe the typical stages of a SOC… Read more »

IFRS Compliance Might Require Professional Consultation

Private sector companies that expand from United States operations to include international accounts and investments are often faced with a bevy of international standards. Full compliance with these various entities can have a significant impact on your licenses in a certain international marketplace, as well as available credit in foreign markets. The International Accounting Standards… Read more »

3 types of information your nonprofit’s board needs

Information is power. And regularly supplying information to your not-for-profit’s board of directors is the key to the board properly fulfilling its duties. This doesn’t mean you have to share every internal email or phone message. Board members should, however, receive and understand information that will help them work together and better serve your organization…. Read more »

Tax Planning Series Part 2: 2017 Year-end tax planning strategies

This article highlights the opportunities and challenges that affect year-end planning for 2017 and includes two checklists of actions that can cut taxes for this year and in the years to come. The first checklist describes actions individuals can take to save taxes. The second checklist describes actions businesses and business owners can take to… Read more »