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The Red Flag Report

In today's regulatory environment, companies must be proactive in addressing environmental and safety concerns. A third-party hotline encourages disclosure of critical issues and protects both the company and its employees. Voluntary Protection Program Act OSHA's [...]

Final Fair Labor Standards Act (FLSA) Overtime Regulations Released

Today the Department of Labor (DOL) finally released  their much-anticipated overtime rule. This new regulation has been put in place to transform mid-level, salaried FLSA-exempt positions into hourly, non-exempt, overtime-eligible positions. Listed below are the key [...]

Tangible Asset Regulations: Repairs vs. Improvements

Question: If you spend money to change a capital asset used in your business this year, then is the expenditure a capitalized improvement or an expensed repair? Answer:  Under the new Tangible Asset Regulations (TARS), [...]

By | April 26th, 2016|Construction, Real Estate, Tax|

Why It’s Time to Start Tax Planning for 2016

Now that the April 18 income tax filing deadline has passed, it may be tempting to set aside any thought of taxes until year end is approaching. But don’t succumb. For maximum tax savings, now [...]

What 2015 Tax Records Can You Toss Once You’ve Filed Your Return?

The short answer is: none. You need to hold on to all of your 2015 tax records for now. But this is a great time to take a look at your records for previous tax [...]

Report to the Nations

Organizations face numerous risks to their success every day including regulatory risk, economic risk, disaster risk, supply-chain risk, and technology risk, just to name a few. Fraud risk is universally one of the risks faced [...]

Tangible Asset Regulations: Materials and Supplies

Question: At the end of tax year 2015, you still have $900 of unused materials and supplies on hand. Can you deduct the full $900 on your tax return? Or does the IRS require you [...]

By | April 12th, 2016|Construction, Real Estate, Tax|

Tangible Asset Regulations: Building Systems

Question: If you renovate a building used in your business this year, then is the expenditure a capitalized improvement or an expensed repair? Answer:  It is important to understand how the “unit of property” concept [...]

By | March 29th, 2016|Construction, Real Estate, Tax|

David Rice Named to Cisco Systems’ Small Midmarket Business Advisory Board

Information technology is an industry in which professionals strive to achieve high levels of success and must be committed to regularly developing their skills and knowledge in order to do so. Earning the respect of [...]

New FASB Guidance on Accounting for Leases

On February 25, 2016, the Financial Accounting Standards Board (FASB) issued its new lease accounting guidance in Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). The ASU will require organizations that lease assets to [...]