Wheeler Wolfenden and Dwares, CPAs (WW&D) is pleased to announce that, for the seventh consecutive time, it has successfully completed a rigorous peer review of its accounting and audit practice. WW&D received the best possible rating – pass with no letter of comment – as the firm has earned for all of its peer reviews. […]
Nonprofit accounting is different
Carolyn, the executive director of an educational nonprofit, was thrilled, after a long search, to welcome two new members to her charity’s board of directors — both from the for-profit business world. However, she was a little concerned about a few of the comments and questions that arose in their first board meeting. It was […]
Deconstructing the TCJA’s deduction for business income
We’re fast approaching the one-year anniversary of the passage of the Tax Cuts and Jobs Act (TCJA). All these months later, the law continues to challenge tax experts and business owners alike as they try to implement strategies to maximize the tax savings from the act. One example is the new tax deduction for qualified […]
After the TCJA: How to keep the giving going this holiday season
Thanksgiving through the end of the year is traditionally the big fundraising season for nonprofits. In one GuideStar survey, U.S. charities received as much as 50% of their annual donations between October and December. And although the holiday spirit moves many donors to give, it’s the charitable tax deduction that typically spurs them to make […]
WW&D Welcomes Three New Professional Staff
Wheeler Wolfenden and Dwares, CPAs is pleased to welcome Melissa Navarro, CPA, Erica Poore, and Jessica Heger to its audit and tax practices. Melissa Navarro, CPA has joined the firm as a manager. Navarro has 14 years of experience in public accounting. In addition, she held an executive-level finance role for eight years with a […]
Tips on managing and reducing payroll costs
Every construction company must pay its employees, so some payroll costs are unavoidable. But precisely how you should go about paying your employees can change over time. What made sense a few years ago may not be as logical or efficient now. Let’s look at some ways contractors can streamline payroll tasks to keep costs […]
New revenue guidance provides direction to nonprofits
In 2014, the Financial Accounting Standards Board (FASB) issued a new standard on revenue recognition (ASU 2014-09). The ASU was intended to clarify and standardize across various sectors revenue reporting. But many nonprofits found the new standard confusing because it didn’t account for the unique nature of revenue sources such as contributions and grants. Now, […]
Which accounting system upgrades should I look for?
Construction accounting is unique and complex. Each of your projects serves as an individual profit center with its own revenue, expenses and payroll. This means contractors shouldn’t use an off-the-shelf system. When looking to upgrade, focus on industry-specific features such as: Job-cost tracking. Contractors need to track expenses according to projects, cost codes, classes, and […]
WW&D ranked as a 2018 Best of the Best CPA Firm by INSIDE Public Accounting
Wheeler Wolfenden and Dwares, CPAs (WW&D) has been named to the INSIDE Public Accounting (IPA) 2018 Best of the Best CPA Firms list. This prestigious recognition ranks WW&D in the top 10% of the 550 firms that participated in this year’s IPA Survey and Analysis of Firms. WW&D was honored for its performance on more than […]
Employee retention: Keep them if you’ve got them
In April, the U.S. unemployment rate fell to 3.9%, its lowest point since December 2000. That’s great for the economy — but not so great for organizations struggling to remain fully staffed. Unfortunately, many nonprofits are in this position. They can’t afford to pay employees as much as their for-profit counterparts and, thus, have a […]