How the New Employee Benefit Plan Auditing Standard (SAS No. 136) Will Impact Plan Audits

Statement on Auditing Standards No. 136 prescribes certain new performance requirements for an audit of financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) and changes the form and content of the related auditor's report. Read more.

2021-02-26T15:40:51-05:00February 26, 2021|Categories: Employee Benefit Plans, Retirement|Tags: , |

Do You Qualify for the Employee Retention Credit?

The Employee Retention Credit (ERC) incentivizes organizations to keep employees on the payroll during COVID-19, and with new rules, it’s possible to claim as much as $14,000 per employee in 2021.

2021-02-26T16:09:24-05:00February 25, 2021|Categories: Not-for-Profit, PBMares COVID-19 Insights, Tax: Business|Tags: , , |

Club Philanthropy: Concepts, Caveats and Case Studies

This third article in Club Director’s Philanthropy in Clubs series takes a more in-depth look into foundations. Three case studies highlight what can go wrong and include the key takeaways to be learned from each example.

2021-02-24T19:00:09-05:00February 24, 2021|Categories: Hospitality, Private Clubs|Tags: , , |

What’s Your Not-for-Profit’s Liquidity Policy?

It’s time to re-evaluate what liquidity actually means and how well-crafted policies can improve an organization’s operations, finances, and be a tool for educating the public, the Board, and management.

2021-02-25T09:27:22-05:00February 11, 2021|Categories: Audit & Assurance, Not-for-Profit|Tags: , , |

Recent Tax Court Case Details Substantial Rights Related to R&D Credit

The case explains the IRS’ view of the requirements to establish substantial rights for work performed under contract for the R&D credit.

2021-02-15T09:22:44-05:00February 10, 2021|Categories: Tax: Credits & Incentives|Tags: , , |

List of COVID-Related Grants Triggering Single Audits

Funding received from state or local governments may have originated in the Cares Act and may only be pass-through funding. Thus, the entity may be subject to a single audit requirement. Here is a list of CARES Act- and COVID-19-related programs that could trigger a single audit.

Overview of Final Regulations for 1031 Exchanges

Since the Tax Cuts and Jobs Act, the treatment of 1031 exchanges has been more complex, nuanced, and limited according to varying definitions of real property. Now with final regulations, real estate investors can make more informed decisions about which properties qualify.

2021-02-02T13:05:06-05:00February 2, 2021|Categories: Construction and Real Estate, Tax: Business|Tags: , , |
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