Archive for Alerts & Advisories Category

Accounting & Audit Alert- Complying with SECURE Act Changes to Long-Term Part-Time Employee Eligibility and IRS Form 5500

Two significant regulatory changes to retirement plans require immediate attention from plan sponsors, both to ensure current operational compliance and to comply with upcoming deadlines. Many long-term, part-time (LTPT) employees are now eligible for 401(k)

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Accounting & Audit Alert- Construction Contract Audits: Safeguarding Your Project’s Bottom Line

Construction projects are all about building and creating something new. But the often time-consuming, capital intensive process can lead to costly overcharges, unnecessary waste, and damaging fraud. To help reduce those risks, an independent, third-party

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Accounting & Audit Alert- 2024 Deadlines and Important Dates for Plan Sponsors

Sponsors of defined benefit and defined contribution retirement plans should keep the following deadlines and other important dates in mind as they work toward ensuring compliance for their plans in 2024. Dates assume a calendar

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Accounting & Audit Alert – It’s Always Been a Matter of Trust

Digital transformation is nothing new. While keeping up with the latest technology is important, it also carries risks – from data security to regulatory compliance. Your customers, business partners, investors, and regulators trust you to

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Accounting & Audit Alert- SOC Reporting for Private Equity: Protecting Assets and Avoid Surprises at Exit

As private equity (PE) leaders are adopting various strategies to safeguard and expand their businesses, one approach gaining significant attention is system and organization controls (SOC) reporting. The reason behind this growing interest is SOC

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Tax Alert- Massachusetts Enacts Corporate and Individual Tax Changes

On October 4, 2023, Massachusetts Gov. Maura Healy signed H. 4104 to enact numerous business and individual tax changes. The more significant changes include adopting single-sales-factor apportionment for all corporate taxpayers, changing the sourcing of

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Tax Alert- Business automobiles: How the tax depreciation rules work

Do you use an automobile in your trade or business? If so, you may question how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified as passenger

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CAS Alert- A winning combination: QuickBooks + your marketing platform

QuickBooks® is a popular business accounting software program. There are also a number of marketing platforms that businesses can use to stay in touch with customers. Using these tools in tandem may allow your organization

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Accounting & Audit Alert- Navigating the percentage-of-completion method

Does your business work on projects that take longer than a year to complete? Recognizing revenue from long-term projects usually requires use of the “percentage-of-completion” method. Here’s an overview of when it’s required and how

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Tax Alert- Selling your home for a big profit? Here are the tax rules

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% over

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Posted In: Alerts & Advisories