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 »

2017 Tax Reform: President Trump and “Big Six” reveal framework of tax reform plan

Highlights of the Unified Tax Reform Framework The Trump Administration and select members of Congress have released a “unified framework” for tax reform. The document provides more detail than a number of other tax reform documents that have emerged from the Administration over the past few months, but it still leaves many specifics to be… Read more »

IASA Utah Chapter Hosts 2017 Fall Conference at Eaglewood Golf Course

The annual fall conference of the Insurance Accounting Systems Association’s (IASA) Utah Chapter was held September 29. The conference gave its members the chance to take in the amazing views from the club house at Eaglewood Golf Course in North Salt Lake while learning more about the Utah laws and rules for Certified Public Accountants… Read more »

The Small Business Tax Credit Can Help Make Employee Health Insurance Affordable

The small employer health insurance tax credit was included in the Patient Protection clause of the Affordable Care Act under Section 45R. It is designed to help small businesses with modest income employees to help provide adequate health insurances services. It’s also worth noting that qualifying for this tax credit can sometimes be a complicated… Read more »

Year-end planning: Strategies for holders of employee stock options

Employee stock options are contracts giving employees the right to buy the company’s common stock at a specified exercise price after a specified vesting period (e.g., two to four years). The exercise price is typically the market price of the stock when the option is granted (although it can be higher or lower), and the… Read more »

Beware IRS Scams

In recent years the Internal Revenue Service of the Federal Government has placed increased scrutiny through their enforced compliance policies. The intent is to detect tax fraud, tax credit fraud, and tax evasion made by inaccuracies in tax documents filed by individuals, as well as small businesses. Some people who prepare their own taxes choose… Read more »

The Avrahami Fallout: Tax Court Nixes Micro-Captive Insurance Arrangement; Premiums Not Deductible

Although a micro-captive insurance entity was organized as an insurance company, paid claims, and met capitalization requirements, the Tax Court found that it did not operate like an insurance company, issued policies with unclear and contradictory terms, and charged unreasonable premiums. As a result, the entity’s election to be taxed as a small insurance company… Read more »

Hurricane Harvey relief: IRS provides guidance on leave – sharing programs

Notice 2017-48, 2017-39 IRB; IR 2017-143 In a Notice and accompanying news release, IRS has announced that employees won’t be taxed when they forgo vacation, sick, or personal leave in exchange for employer contributions of amounts to charitable organizations providing relief to Hurricane Harvey and Tropical Storm Harvey (collectively, Hurricane Harvey) victims, and employers may… Read more »

Employee Wellness is a Big Part of Our Company Culture

At Larson and Company, employee health and wellness is an important part of company culture.  Employees at Larson are valued members of our team, and we encourage all employees to exercise healthy habits in order to be happier and healthier people.  Employees can participate in the Wellness Program and find tools to help motivate and… Read more »