About Carol Maurice

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So far Carol Maurice has created 61 blog entries.

Automation, the Human Touch, and Cloud Accounting

Organizational leaders can spend less time on repetitive accounting tasks and more time connecting with clients and by using automated and cloud computing software. Learn how cloud accounting can save you time, money and frustration so you can focus on what matters most.

2019-11-21T16:41:12-05:00November 21, 2019|Categories: Accounting, Business Advisory|Tags: , |

Nonprofits Subject to High Tax Over Executive Compensation

The tax reform bill of 2017 brought changes to the deductible amount from a for-profit company and now nonprofit executive’s compensation deductions are changing, too. Code section 4960 further explains the 21% excise tax on the amount of compensation paid by an applicable tax-exempt organization, ATEO.

2019-12-03T14:21:12-05:00November 1, 2019|Categories: Not-for-Profit|Tags: , |

Recording Contributions with Donor-Imposed Restrictions

Donor contributions make up a lot of Virginia’s nonprofits’ annual revenue. Even though the organizations are not relying only on these contributions, nonprofit management has to understand how to account for these contributions in one of two ways.

2019-10-07T10:35:35-04:00October 7, 2019|Categories: Audit & Assurance, Not-for-Profit|Tags: , |

Government Contractors-Protect Against Unallowable Subcontractor Costs

The Defense Contract Audit Agency recently questioned the allowance of subcontractor costs, not based on their reasonableness, but on the contractor’s lack of supporting documentation as defined in the cost principle. Government contractors can protect themselves and recover the costs they are owed, but there are steps to follow and documents to submit.

2019-09-19T15:21:01-04:00September 19, 2019|Categories: Accounting, Government Contracting|Tags: , |

Strategies for Managing Concentrated Stock

Managing a concentrated stock position involves more than just knowing a little about stocks and trying to predict the market. Concentrated stock can be accumulated in many ways and can bring with it risk hurtful to your portfolio, and to your pride. Having a plan in place customized to your unique stock concentration issues can help achieve your financial goals.

2019-09-10T16:16:27-04:00September 10, 2019|Categories: Wealth Management|Tags: , |

Business Interest Limitation Affects More Businesses

One recently overlooked item of the Tax Cuts and Jobs Act for companies involved with a syndicate or tax shelter is business interest expense limitation. Don’t be caught off guard. Proper planning and reporting can help preserve your current year deduction.

2019-09-27T13:37:50-04:00August 16, 2019|Categories: Accounting, Business Advisory, Tax: Business|Tags: , |

We Are All Ethical, Until We Are Unethical

For government contractors, it is important to recognize your ethics and business conduct program must be tailored to your company’s specific risk profile.  This is a dynamic compliance process and has to be monitored and revised accordingly to keep it relevant and effective. Does your company’s business conduct and ethics program meet the necessary requirements?

2019-09-23T14:25:52-04:00July 25, 2019|Categories: Accounting, Government Contracting|Tags: |

Tax Consequences for Tax-Exempt Social Clubs

While a club may be tax-exempt, it may be subject to tax on its unrelated business activities.  Read on to learn more as well as to download PBMares' “Member Function Questionnaire” for help in gathering the information required by the IRS.

Handling Rehired Employees in a 401(k) Plan

Handling rehired employees correctly in a retirement plan can be difficult. Just because you allowed your last rehire to reenter the plan immediately doesn’t mean you will do it with your next rehire. Learn the requirements to consider when you reenroll an employee.

2020-01-28T16:25:22-05:00July 3, 2019|Categories: Employee Benefit Plans|Tags: |

Your Incurred Cost Proposal is Important

Government contractors’ incurred cost proposals include all costs incurred during the fiscal year on both commercial and government contracts. For those with fiscal years the same as calendar years and work was performed on cost reimbursable and/or time and material contracts that include the Allowable Cost and Payment clause at FAR 52.216-7, it’s time to begin preparing and submitting your incurred cost proposal/submission.

2019-09-23T14:26:48-04:00June 24, 2019|Categories: Government Contracting|Tags: |
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