About Carol Maurice

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So far Carol Maurice has created 57 blog entries.

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: |

Businesses Serving Washington, D.C. Hit with Baseball Fee

Washington, D.C. officials helped bring baseball back to the nation’s capital in 2008 by establishing a Baseball Fee. Initially, only businesses with a physical connection to the district had to pay the fee. However, businesses now have to pay it if revenues from services were delivered to customers located there, regardless of where the service was actually performed.

2019-06-06T18:53:02-04:00June 6, 2019|Categories: Tax: Business|Tags: |

Contractors Prove Their Business Systems to Defense Department

Contractors or subcontractors that have never had an audit performed by DCAA, or have made changes to their accounting and estimating systems and processes, should be proactive and have self-assessment/mock-reviews of each performed in advance of a DCAA audit. Are you ready?

2019-05-21T13:47:11-04:00May 21, 2019|Categories: Government Contracting|Tags: , |

Tracking Not-for-Profit Grants and Program Metrics

Not properly tracking grants and program metrics daily and waiting too late to record them are all too common mistakes not-for-profits make. The good news is there are options available to tackle this problem. Many not-for-profit organizations are relying on outsourced accounting methods to help ensure nothing gets missed or delayed.

2019-07-24T19:12:06-04:00May 5, 2019|Categories: Not-for-Profit|Tags: , , |

Charitable Donations vs. Exchange Transactions

Not-for-profits have to report all donations they receive throughout the year. But not all donations are created equal. It can be difficult to determine if the funds are a charitable donation or an exchange transaction. Read on and learn what factors can help determine how the funds should be reported.

2019-07-24T19:13:28-04:00April 19, 2019|Categories: Not-for-Profit|Tags: , , |

Stop Work Orders – What it Means for Government Contractors

Government contractors must stop work immediately when they receive a stop work order (SWO) from a contracting officer. What are the next steps? There are several processes to follow, including one to aid in the recovery of additional costs incurred as a result of the SWO.

2019-04-16T19:12:03-04:00April 16, 2019|Categories: Government Contracting|Tags: |