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Archive for the ‘Accounting’ Category

Beware of Fake IRS Emails and Phone Calls

Tax scams that use email and phone calls that appear to come from the IRS are common these days. These scams often use the IRS name and logo or fake websites that look real.

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IRS Tax Tip – Home Office Deduction

If you work from home, you should learn the rules for how to claim the home office deduction. Starting this year, there is a simpler option to figure the deduction for business use of your home.

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Changing standards for leases: What lessees need to know

Off-balance-sheet reporting is one of the most attractive features of operating leases. This treatment and associated bright-line criteria, however, are the source of much criticism. In response, recent FASB and International Accounting Standards Board decisions indicate these structures will likely be brought onto the books of lessees, consistent with the right-of-use (ROU) model. The exact…
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Fraud Reports Climb Still Higher

Employee reports of fraud are steadily increasing, both as a percentage of all compliance-reporting activity and in raw numbers. http://www3.cfo.com/article/2012/9/regulation_fraud-whistleblower-sec-jimmy-lin-jonny-frank  

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Non-profit financial reporting

Non-profits face some unique financial reporting requirements. They have to report on both what the money was spent on (salaries, supplies, utilities, etc.) and what purpose the expenditure served (program, administration or fundraising). On April 17 we hosted a webinar for local non-profits to learn more about the external and internal non-profit financial reporting concepts….
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