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So far CRI has created 554 blog entries.

Natural Disasters: 3 Tips for Safeguarding Tax Records

Don’t let a natural disaster become a tax disaster too. Be sure to protect your tax records and other valuable information. This time of year it is especially important to utilize the tips below in preparation for hurricane season. 1. Electronic Backup Taxpayers should always keep a set of backup records of all important documents [...]

Love, Marriage, and Uncle Sam: How Getting Married Affects Your Taxes

Newlyweds have a lot to think about after getting married, and taxes aren’t always at the top of the list. However, it is always important for a new couple to consider how the nuptials may affect their tax situation and filing status. CRI has some tips to help you plan for your new life ahead. [...]

2018-11-12T15:42:43+00:00June 14th, 2018|INDIVIDUAL PLANNING|

Start From the T.O.P Down: Ways You Can Improve Your Organization’s Cybersecurity

Until the last couple of years, data breaches seemed to be the domain of major corporations—Target, Home Depot, Sony, JP Morgan. However, in recent years, as businesses of every size become increasingly reliant on data and information systems, it is becoming clear that no business is too small to be a target. And yet, only [...]

2018-11-12T15:42:43+00:00May 24th, 2018|CYBERSECURITY|

Avoid Counting on Depreciation Too Early with Placed-In-Service Rules

“Don’t count your chickens before they hatch” is an adage that reminds us to be wary of putting our hope in something that has not yet happened. This phrase is especially true when it comes to depreciation. Although when depreciation begins on an asset may not always be clear, the consequences of an early start [...]

2018-11-12T15:42:45+00:00May 24th, 2018|TAX SPECIALTY SERVICES|

5 Exercises to Rehabilitate Retirement Funds

Stock market crashes. Healthcare emergencies. Investment nightmares. Many Americans who had built a nest egg that they thought would ensure a comfortable retirement have found themselves suddenly scrambling to refill their retirement fund coffers after these types of unexpected crises. Is a healthy retirement still achievable after such a blow? Yes, but building a healthy [...]

2018-11-12T15:42:45+00:00May 21st, 2018|INDIVIDUAL PLANNING|

Steering Clear of Bookkeeper Liability Hazards

For some business owners, bookkeeper liability could be cause for concern. Whether you maintain the books for your own company or you delegate that task to an internal or outsourced bookkeeper, it pays to understand the responsibilities inherent in the role. After all, protecting your most valuable assets — your employees — is critical to [...]

2018-11-12T15:42:49+00:00March 26th, 2018|CLIENT ACCOUNTING SERVICES|

Four Must-Have Features When Selecting an Auditor

A company should insist on specific qualities and characteristics from the auditor it chooses to ensure that its accounting and reporting arms are working properly. To guarantee that the audit process goes smoothly, we’ve listed four must-have features when it comes time to consider the auditor selection process. Experience Speaks The expertise of an audit [...]

2018-11-28T21:02:07+00:00March 15th, 2018|AUDITS, REVIEWS & COMPILATIONS|

Is Outsourcing Written in the Stars For Your Business?

Business owners regularly find themselves asking, “How can I accomplish more with the same or fewer resources?” They ask because of the significant amount of changes introduced by a “galaxy” of increasingly complex tax laws, accounting standards, and regulatory requirements. Simultaneously, companies experience greater challenges recruiting professionals with the right skills. It’s no wonder, then, [...]

2018-11-12T15:42:59+00:00March 1st, 2018|CLIENT ACCOUNTING SERVICES|

New to Federal Contracting? Read on Before Hanging Your Shingle

A business does not have to produce aircraft carriers to work with the federal government. Firms specializing in information technology, systems engineering, and testing and evaluation are good examples of businesses that are involved in federal contracting (without making aircraft carriers). Government contractors must follow complex rules and regulations to comply with awarded federal contracts, [...]

2018-11-12T15:43:00+00:00February 26th, 2018|GOVERNMENT CONTRACTING|

View From The Top – Nonprofit Board Review of Form 990

While it is true that the annual Form 990 each nonprofit organization must file with the IRS is filled with numbers, it also contains much more. The Form 990 provides insight into the organization and how it functions and—unlike tax reports of other entities—is a document that must be made available to the general public. [...]

2018-11-12T15:43:09+00:00February 7th, 2018|NONPROFIT REPORTING STANDARD, NOT-FOR-PROFITS|

5 Financial Planning Areas to Address Under New Tax Laws

Level Four Perspective: A Tax Reform look from our wealth management portfolio company in the CRI Family of Companies. Once the new Tax Reform bill appeared to be heading toward passage, the Level Four offices were flooded with calls from clients and their advisers asking for help understanding the impact to their bottom lines. Let’s [...]

2018-11-12T15:43:30+00:00December 28th, 2017|TAX REFORM: INDIVIDUAL TAX|

ACA News: Noncompliant ALEs to Begin Receiving IRS Letters

Ooh... who you gonna call (Ghostbusters) Who you gonna call (Ghostbusters) Ah, I think you better call (Ghostbusters) -Ray Parker, Jr., “Ghostbusters” If There's Something Strange in Your Neighborhood (Such as Your Mailbox), and It Doesn’t Look Good… The IRS is taking steps to enforce the Affordable Care Act’s (ACA’s) employer shared responsibility provision by [...]

2018-11-12T15:43:31+00:00December 26th, 2017|AFFORDABLE CARE ACT (ACA) COMPLIANCE, BUSINESS TAX, FEBRUARY 2018|

Unintended Tax Reform Consequences: Impact to GAAP Financial Statements

The GOP Tax Reform was signed into law on December 22, 2017. Many companies are scouring how those new tax law changes will impact their corporate tax returns. However, companies should also consider how these tax law changes may also impact their GAAP financial statements. Since the Tax Reform was signed into law in 2017, [...]

2018-11-12T15:43:32+00:00December 22nd, 2017|BUSINESS TAX, JANUARY 2018, TAX REFORM: BUSINESS TAX|

IRS Correspondence Letter: Your New Pen Pal the IRS

  Bill. Bill. Junk mail. Magazine. Bill. Junk mail. Bill. That’s pretty much what most people find when they reach inside their mailbox every day. What most people probably don’t expect is an IRS correspondence letter. So what should you do if you get one? Step 1: Resume breathing. While the IRS probably isn’t inviting you [...]

2018-11-12T15:43:33+00:00December 17th, 2017|TAX CONTROVERSY|

4 Debt Management Magic Tricks for Financial Success

Debt is a reality for many Americans. Consider the following statistics from consumer information provider ValuePenguin: The average amount of credit card debt in America is $5,700. More than one-third of all American households have credit card debt. The total outstanding U.S. consumer debt is $3.9 trillion. Many individuals find themselves underestimating or ignoring their [...]

2018-11-12T15:43:41+00:00December 2nd, 2017|INDIVIDUAL PLANNING, INDIVIDUAL TAX|

International Tax Disclosures: Where is the FBAR Set?

Additional Content in Series Back To The Basics Understanding the International Tax Language Why FATCA Isn't Just for Jet-Setters In today’s increasingly globalized economy, many people are surprised to find that they have a U.S. disclosure requirement on their foreign holdings. One such disclosure is the Financial Crimes Enforcement (FinCEN) [...]

2018-11-12T15:43:43+00:00November 26th, 2017|INTERNATIONAL TAX|

Will Your Cost Segregation Methodology Hold Water With the IRS?

Many business owners already know that cost segregation is a strategic tax analysis that reclassifies property costs to shorter depreciable periods, potentially yielding substantial tax benefits. They may also know that those depreciation adjustments could open them up to IRS scrutiny and, in turn, lead to a torrent of back taxes and penalties. What they [...]

2018-11-12T15:43:45+00:00November 26th, 2017|TAX SPECIALTY SERVICES|

International Tax Disclosures: Why FATCA Isn’t Just for Jet-Setters

Additional Content in Series Back to The Basics Understanding the International Tax Language Where is the FBAR Set? In the first article in our international tax series, we discussed how the Panama Papers have reignited the secrecy versus disclosure debate of foreign affairs. While the Panama Papers may be a [...]

2018-11-12T15:43:47+00:00November 21st, 2017|INTERNATIONAL TAX|

How IT Can Lay the Foundation for Transitioning to the New Revenue Recognition Standard

The way a company earns revenue is foundational to its financial success. Therefore, the new accounting guidance for recognizing revenue from contracts with customers is expected to affect all areas of operations and bring sweeping changes to enterprise-wide systems and processes. As the effective date for the new revenue recognition standard draws near, companies should [...]

2018-11-12T15:43:48+00:00November 19th, 2017|REVENUE RECOGNITION|