Industry
Managing the IRS Repair Regulations and the Ongoing Challenges Presented After Initial Implementation
The IRS final “repair regulations,” effective January 1, 2014, completely revamped the way taxpayers evaluate expenditures in order to determine whether certain costs represent immediately deductible repair expenses, or capital improvements that must be depreciated over time. In addition, regulations issued in Section 1.162-3 provide new guidance on when a taxpayer may deduct costs incurred […]
AAFCPAs highlights key items new to Head Start eligibility standards
In March, 2015, the Office of Head Start, an office of the U.S. Department of Health and Human Service (HHS), Administration for Children and Families, issued updated performance standards for Head Start programs. AAFCPAs reminds our clients that the updated standards will be utilized in Head Start monitoring visits beginning October 1, 2015. AAFCPAs offers […]
Guiding Nonprofits through Charity Evaluator Ratings
AAFCPAs’ Jeff Cicolini in Accounting Today advises “communication and transparency are paramount for companies looking to win over advocates, positively rate with charity evaluators.”
Are you ready for ICD-10?
What is ICD?The International Classification of Diseases (ICD) is the standard diagnostic tool for epidemiology, health management and clinical purposes. ICD is used by physicians, nurses, other providers, researchers, health information managers and coders, health information technology workers, policy-makers, insurers and patient organizations to classify diseases and other health problems. ICD, published by the World […]
EOHHS 3.75% Payment Contracts: AAFCPAs advises on where and how to record quarterly payments
Human & social services providers who do not yet have a regulation establishing a rate of payment for certain social services programs are now beginning to receive their expected quarterly payments from the Executive Office of Health and Human Services (EOHHS) for programs affected by Chapter 257. Where and how do providers record payment? Purchase […]
Federal Financing Options for Manufacturing Companies
Where do you go when private funding sources and traditional commercial lenders have turned you down? When seeking financing for your manufacturing business, a wide range of options are initially considered, including: self-funding, funding from family and friends, angel funding and bank financing. The question becomes more difficult when private funding sources and traditional commercial lenders […]
Retain Key Executives in the Nonprofit Sector with 457 Deferred Compensation Plans
Executive compensation continues to receive increased scrutiny from the IRS, Attorney Generals (AGOs), and in the court of public opinion. This scrutiny is intended to ensure that executive compensation does not take away from the charitable mission of the nonprofit; however, the IRS and AGOs also recognize that large public charities are complex organizations that […]
The Construction Work-In-Process (WIP) Is A Strategic Tool, Not Simply A Compliance Schedule
WIP Monitors KPIS and Reveals Trends WIP monitors key performance indicators & reveals trends affecting profitability. For contractors, the Work-In-Process (WIP) schedule is part of a fundamental dashboard used to determine revenues and gross profit that should be included in your regular, monthly reporting package. The WIP schedule provides a snapshot at a point in time […]
The Required Charter School Management’s Discussion & Analysis (MD&A)
Is Your MD&A Living Up to the Valuable Document It Was Intended to Be? As you close the books on another fiscal year, and begin to prepare for your annual audit, AAFCPAs advises our Charter School clients to take some time now to review the content of your Management’s Discussion and Analysis (MD&A). In order […]