A significant law was recently passed that adds tax breaks and makes changes to employer-provided retirement plans. If your small business has a current plan for employees or if you’re thinking about adding one, you should familiarize yourself with the new rules. The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was signed […]
Protect your exempt status in Election 2020
Nonprofits that are tax-exempt as N 501(c)(3) organizations, including charities and churches, are barred from participating or intervening in any political campaign for or against a candidate for public office. Organizations that violate the prohibition risk losing their tax-exempt status. They also could find themselves on the hook for an excise tax. Here’s what you […]
A SYMBIOTIC BOND – How WIP reports relate to your financial statements
Construction work in progress (WIP) reports are too often ignored and less often fully understood. Your WIP reports share a symbiotic bond with your financial statements — the two should be consistent in the information they present. Let’s look at four different schedules of a typical WIP report and discuss how they relate to your […]
‘Twas the Night Before Christmas
Wilmington Country Club is Hiring a Controller/Financial Manager
Organization: The Wilmington Country Club is located in Wilmington, Delaware. It was established in 1901 and currently has approximately 2,300 individual members. The Wilmington Country Club is member-owned, and is operated solely for the benefit of its members. The Club offers a complete array of athletic, social and family activities for its membership to enjoy. […]
Wheeler Wolfenden And Dwares, CPAs Announce Promotions & Certifications
WHEELER WOLFENDEN AND DWARES, CPAS ANNOUNCE PROMOTIONS & CERTIFICATIONS Congratulations to Mani Rodriguez, CPA and Brian Bentivoglio, CPA Pike Creek, DE (December 18, 2019) – Wheeler Wolfenden and Dwares, CPAs is pleased to announce that Brian Bentivoglio has passed the Uniform Certified Public Accountant (CPA) Examination and is the newest Certified Public Accountant […]
How Nonprofits Can Take Advantage Of Corporate Volunteers
According to the Society for Human Resource Management, 47% of companies offer a community volunteer program for employees. Chief Executives for Corporate Purpose has found that large companies are even more likely to sponsor volunteer activities: 61% offer paid-release time volunteer programs or a structured corporate volunteer program. If your not-for-profit suffers from a chronic volunteer […]
Is Risk Management Software A Worthy Investment?
“My construction company recently underwent an audit by the Occupational Safety and Health Administration (OSHA). Among the most important findings is that our safety and insurance documentation is inadequately organized. While researching the matter, I learned that there’s software available to help businesses with this problem. But is it a worthy investment, or would I […]
FASB Simplifies Merger Accounting for Nonprofits
FASB Simplifies Merger Accounting for Nonprofits The Financial Accounting Standards Board (FASB) recently issued guidance that should ease the financial reporting burden on nonprofits that enter “business combinations,” such as mergers and acquisitions. The title of the guidance is a mouthful, but it probably tells you everything you need to know: Accounting Standards Update (ASU) […]
Evaluate the Risks of Joint Ventures Carefully
Sometimes a construction project is just too big or complex for one general contractor to handle alone. Joint ventures (JVs) enable two construction companies to temporarily partner up to distribute risk, apportion resources and, one hopes, share profits. There are other reasons to consider a JV. You might need to secure additional bonding capacity or […]