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SECURE Act Impacts Retirement Planning

President Trump signed the latest federal government spending bill on Friday December 20, 2019. The bill includes many tax law changes and extends several expired provisions. The bill also incorporates the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. Read on for three changes from the SECURE Act that all taxpayers should know.

2020-01-02T15:07:05-05:00December 24, 2019|Categories: Retirement|Tags: , , , |

Virginia Tax Conformity and Its Impact on 2018 Filings

Every year, passing tax conformity legislation in the General Assembly is an important issue for Virginia taxpayers, and failure to pass conformity early in the legislative session can cause severe disruption and delay in filing returns and receiving timely refunds.

2019-02-28T21:17:05-05:00January 21, 2019|Categories: Tax: Business, Tax: Individual, Tax: State & Local|Tags: , |

Supreme Court Ruling Fundamentally Alters Sales Tax

The U.S. Supreme Court has fundamentally altered Wayfair, Inc., and other online retailers’ ability to offer items at a lower cost than their brick and mortar counterparts. States can now require online retailers to collect sales tax from every customer no matter if they have a physical location in the shopper’s state, leaving online consumers to pay more for the items they buy.

2018-08-17T15:00:49-04:00June 28, 2018|Categories: Tax: Business, Tax: State & Local|Tags: , , |

How Small- to Medium-sized Nonprofits Can Get the Help They Need to Manage Their Investments

Nonprofit organizations have a fiduciary role in managing investments that are the result of donor gifts. For those with endowment funds, there are laws and regulations outlining fiduciary responsibilities with respect to those funds and how the funds are invested and allocated for expenditure. Large nonprofit organizations with significant investments have the resources to engage large institutional investment managers to assist in managing their investment portfolios.

Boost Your Not-for-Profit’s Revenue While You Build Upon Your Future

Many people have heard the saying “location is everything.” While it may be debatable that location is everything, location is very important in the Commonwealth [...]

2018-08-06T16:45:55-04:00April 23, 2018|Categories: Not-for-Profit|Tags: , |

The Importance of a Nonprofit Audit Committee

Transparency and accuracy of a nonprofit’s financial statements has become even more vital over the years.  Having an audit committee should be essential part of [...]

Does My Pension Plan Need to be Audited?

The first step in determining if your pension plan might need to be audited is in understanding the concepts of large plans and small plans. A large plan is a plan with 100 or more participants on the first day of the plan year and a small plan has fewer than 100 participants. Why does this matter? 

2018-11-20T13:33:59-05:00March 22, 2018|Categories: Employee Benefit Plans, Industries|Tags: , , |

In the Employee Benefit Plans World, a Year Does Not Always Equal 12 Months

We all learned in kindergarten that one year equals 12 months. Pretty simple, right? Wrong. In the Employee Benefit Plans world, a year does not always equal [...]

2019-01-16T19:28:05-05:00March 19, 2018|Categories: Employee Benefit Plans, Industries|Tags: |