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 [...]
While the word “audit” may sound scary in certain contexts, a reverse audit may help a company obtain a refund for overpaid state sales and use taxes. But when might a business consider such an engagement? Watch as Amy Hightower describes four instances in which it may be best to evaluate the potential [...]
The Own Risk Solvency Assessment (ORSA) is designed to help insurance companies evaluate their risks and proactively address their capital needs. One tool that businesses can use to meet their ORSA requirements is an internal audit. Watch as Joseph May explains the relationship between ORSA and internal audits – as well as how [...]
Like most companies, agribusinesses experience economic challenges. However, there are steps they can take to survive even the toughest financial forecasts. Watch as Amy Hightower provides tips to help agribusinesses maintain operations in difficult times – such as researching Tax Code provisions specifically designed to benefit the agribusiness industry.
The Government Accounting Standard Board’s Statement #77 (or “GASB 77”) requires government entities to disclose particular tax abatement agreement details that were previously unavailable. Therefore, some entities may need to update their systems to collect the necessary data. Watch as Julie Bennett discusses the information that entities must present in accordance with GASB [...]
Receiving a tax refund can be exciting for many individuals. For small business owners, a refund can lead to new company investments, significant retirement plan contributions, or both. Watch as Heather Jourdan explains the options that small business owners have for making the best use of their tax refunds.
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 [...]
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 [...]
When it comes to governance, there are many misconceptions. Consider the myth-or-fact statements below. Fact. Governance practices – such as written policies, a trained and informed board of directors, and strong internal controls – are important for protecting the business and its owners. Myth. Although not a requirement for privately held companies, a knowledgeable and [...]
Any fan of late-night infomercials knows that a key part of the marketing pitch is that final offer that pushes the perceived value of the package well past the asking price. Similarly, the extension of bonus depreciation is the literal “bonus” of the Protecting Americans from Tax Hikes (PATH) Act that can deliver impressive value [...]
WEST PALM BEACH, FL – Local CPA firm Proctor, Crook, Crowder, & Fogal is now part of top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI). All locations now operate under the CRI name, and the personnel join a team of more than 1,600 professionals serving clients from locations across the Southern United [...]
The majority of the DOL’s complex regulations mandating fiduciary status for individuals dealing with retirement investment decision-making involve investment advisors. However, the regulations, effective April 10, 2017, also require plan sponsors (who are always the fiduciary) to take certain steps. The rules also expand the definition of fiduciary status. A Fresh Coat of Primer on [...]
With digital cameras, taking a photograph is typically a simple process with two steps: point and shoot. Another two-step process – according to a recently issued mandate from the Financial Accounting Standards Board (FASB) – is the goodwill impairment test. The FASB’s new goodwill impairment standard eliminates Step 2 of the test, thereby reducing the [...]
The new revenue recognition standard could drastically changes how healthcare entities (particularly hospitals) recognize revenue – specifically, when and how much to recognize. Watch as Bryan Hall provides an overview of these changes, as well as the data that hospitals should begin collecting now to implement the new mandate.
Contractors often have to choose whether to lease or purchase a piece of equipment. This decision is critical because it can significantly affect a contractor’s working capital (i.e., current assets less current liabilities), which is an important ratio for sureties. With the release of the new lease accounting standard, it is even more [...]
Level Four® Advisory Services – a portfolio company of Carr, Riggs & Ingram (CRI) Capital Group – has a unique method of helping clients organize their financial information and devise strategies for achieving their goals. Watch as Jake Tomes describes this procedure and explains how it fits within the company’s breadth of wealth [...]
The Financial Accounting Standard Boards’s (FASB’s) new lease accounting standard will substantially affect how businesses identify, classify, and measure leases. Therefore, companies may need to update their processes to record the newly required data. Watch as Bryan Hall, Alyssa Hill, and Bruce McFadden provide an overview of the mandate and explain how CRI [...]
Business owners are often faced with a wide variety of choices – such as whether to offer employees bonuses or how much to budget for equipment purchases. Working closely with a trusted advisor can help entrepreneurs understand how such actions can impact their operations. Watch as Shannon West explains why collaboration is key [...]
Starting a company can often be the largest investment an individual makes. Because start-up business financing is often tied to personal wealth, it is important that new business owners work with a trusted advisor – ideally, a CPA – to reduce the risks associated with this venture. Watch as Rodney Thornton, Colleen Angerdina, [...]
The Five-Star Quality Rating System is designed to help consumers choose the best long-term care facility for their loved ones. As the tool undergoes significant changes, nursing homes must stay up-to-date so that they understand how they will bne evaluated going forward. Watch as Matt Taylor discusses some of these changes – such [...]
TALLAHASSEE, FL – Local CPA firm James D.A. Holley & Co. has merged with top 25 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI). All James D.A. Holley & Co. personnel will now operate under the CRI name, and the team will also relocate to CRI’s new Tallahassee office on Centennial Boulevard in late [...]