Articles & Videos

Community Bank Vendor Risk: Don’t Roll the Dice


While what happens in Vegas may sometimes stay in Vegas, when a community bank experiences customer data breaches that typically makes the news. So what steps should a financial institution take to ensure it meets the requirements of the Gramm-Leach-Bliley Act (GLBA)? From loan reviews to service organization controls (SOC) reports, community banks often choose [...]

Devouring a Rich Opportunity for Roth IRA Rollovers

January 19th, 2017|EMPLOYEE BENEFIT PLANS|

On any given evening, many people think about having dessert even before they have finished their dinner. Similarly, as highly compensated employee (HCE) 401(k) plan participants approach retirement, they may want to consider a potentially useful, tax-efficient IRA rollover technique. The IRS has specific rules about how participants can allocate accumulated 401(k) plan assets based [...]


January 13th, 2017|NEWS, PRESS RELEASES|

NASHVILLE, TN –  Local CPA firm RAYBURN | FITZGERALD PC has merged with top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI). The RAYBURN | FITZGERALD team joins more than 1,400 current CRI professionals serving clients across the Southern United States. Physically, the RAYBURN | FITZGERALD team joins the established CRI office [...]

“Yours, Mine, or Ours?” Part 3: Four Income Tax Considerations of a Divorce

January 10th, 2017|INDIVIDUAL TAX|

In our “Yours, Mine, or Ours?” series, we have explored the issues of separate property and marital assets as they relate to Bob and Helen, who are divorcing after more than three decades of marriage. In the final installment of our saga, Helen and her CPA, Ruth, meet to review four key income tax considerations [...]

How to Be Flexible with Eligibility Rules to Control Plan Enrollment


Like yoga practitioners, plan sponsors have more flexibility than they may realize when it comes to setting eligibility rules for 401(k) plan participants. Even though the Employee Retirement Income Security Act (ERISA) sets many plan eligibility rules, plan sponsors have leeway to meet the demands of the employment market. Here are some thoughts for plan [...]

The 21st Century Cures Act: Cultivating Standalone HRAs for Small Businesses


When President Obama signed the 21st Century Cures Act into law on December 13, 2016, most of the media coverage focused on the provisions related to medical innovation. But the law also includes some good news for small businesses that have been prohibited in recent years from providing their employees with Health Reimbursement Arrangements (HRAs). [...]

Living the Dream: 5 Ways to Make Invoice Processing More Effective


Ahh! The entrepreneurial American dream: A business owner strikes out on her own to provide a product or service that her customers didn’t know they needed. Her clients place such a high value on her work that not only are they surprised at how affordable the offering is, but they pay for it as quickly [...]

4 Steps on the Path to Timely Payments “Paradise”


Sending clear invoices in a timely manner and to the right person in the payables department – as well as following up on those invoices – is essential to being paid on time. However, effective invoice processing is just one aspect of receiving timely payments. Below are four additional steps to realizing the nirvana of [...]

“Yours, Mine, or Ours?” Part 2: Identifying and Valuing Marital Property

December 27th, 2016|INDIVIDUAL TAX|

The first part of our “Yours, Mine, or Ours?” series introduced Bob and Helen, a divorcing couple living in Texas. In the first meeting with her attorney, Helen discovered that the couple owns assets in several categories, each of which will be treated differently in the divorce proceedings. This second part follows Helen as she [...]

Why a Tornado of Benefit Plan Options May Increase Litigation Risk

December 21st, 2016|EMPLOYEE BENEFIT PLANS|

Giving plan participants a wide range of benefit plan options is positive — to a point. That idea underlies one of the multiple allegations in recent class action lawsuits filed against several prominent universities. The litigation offers a cautionary note for plan sponsors who offer a high number of investment options. While 401(k) plan sponsors [...]

7 Tips for Business Luck in 2017

December 20th, 2016|BUSINESS CONSULTING, JANUARY 2017|

Help your business ring in the New Year with a strong financial and operational foundation.

7 Tips for Individuals for Financial Luck in 2017

December 20th, 2016|INDIVIDUAL PLANNING, JANUARY 2017|

Kick off your 2017 the fiscally wise way with these personal finance tips.

Cars and Accounting Technology: Joined by Metamorphosis


We typically think of metamorphosis as a biological process. For example, a caterpillar spins itself in a silk cocoon and then emerges as a butterfly. However, the term – which comes from the Greek word for “transformation” – could just as easily apply to the technological changes that have occurred over the last few centuries. [...]

Every Year is “Selection” Year: Entity Selection Voting Made Simple

December 16th, 2016|BUSINESS TAX|

A number of candidates are running on your business entity selection ballot. Initially, they often all seem equally qualified, but not all entities are created equally. So let’s consider CRI your debate moderator for entity selection candidates. We’ll walk you through the various entity types, discuss their strengths, and examine their weaknesses. These details will [...]

Every Year is “Selection” Year: Voting on C-Corporations and S-Corporations

December 16th, 2016|BUSINESS TAX|

This is the last article in our series regarding business entity types. So far, we’ve discussed four types of entities: sole proprietorships, general partnerships, limited liability corporations, and limited liability partnerships. Now, let’s discuss the last two candidates remaining on the ballot: C-corporations and S-corporations. C-Corporations C-corporations are treated as separate legal entities from their [...]

Every Year is “Selection” Year: Voting on Partnerships, Limited Liability Companies, and Limited Liability Partnerships

December 15th, 2016|BUSINESS TAX|

In the first article of our series regarding choosing an entity type, we discussed the pros and cons of a sole proprietorship. In this article, we will discuss three more candidates on the business structure ballot: general partnerships, limited liability companies (LLCs), and limited liability partnerships (LLPs). General Partnerships                    General partnerships are separate legal entities [...]

Why Cost-Plus Contracts Can Help Achieve Peak Construction Project Performance

December 15th, 2016|AGREED UPON PROCEDURES|

Construction spending has climbed in the last several years since the mountainous declines of the Great Recession from 2008 to 2010. Construction managers and subcontractors, who survived those lean years, now find themselves in a market with abundant work and improving margins. Increasingly, construction projects are being contracted as cost-plus contracts, which include the design/build [...]

5 Overlooked Tax Breaks For Contractors And Manufacturers


While some tax incentives seem to be common knowledge, others often go nearly unnoticed. Watch as CRI's Dawn Steed describes overlooked deductions that contractors and manufacturers can use to their advantage.

Don’t Be Late! ACA Compliance Reporting Deadline Extended


At the end of 2016, the IRS announced that the deadline for providing Forms 1095-B and 1095-C to employees would be extended from January 31, 2017 to March 2, 2017. Although the deadline to provide employees information has been extended, the deadlines for filing Form 1095 with the IRS have not changed for the 2017 filing [...]

“Yours, Mine, or Ours?” Part 1: Determining Community and Separate Property in a Divorce

December 13th, 2016|INDIVIDUAL TAX|

It is often estimated that approximately half of all U.S. marriages end in divorce. While some may consider this statistic to be common knowledge, what is less well-known is how divorcing couples should go about dividing their assets and liabilities. Thus, “Yours, Mine, or Ours?” is a three-part saga that explores the story of Bob [...]

Made in the USA: The Section 199 Deduction


Apple pie and baseball are long-standing symbols of our country’s most favorite pastimes. For some businesses, there is a tax deduction that is also strongly associated with America: the domestic production activities deduction (DPAD). This deduction, also known as the Section 199 deduction for its place in the Tax Code, allows U.S. manufacturers and contractors [...]