Kendal Diehl

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So far Kendal Diehl has created 68 blog entries.

What Public Entities Can Teach Us About Revenue Recognition

Any new accounting standard can throw us for a loop, but the new revenue recognition standard has made an especially strong impact. Not all revenue-generating activities fall under the purview of the new standard, but the changes are far-reaching and will affect a multitude of revenue streams in almost all industries. Public organizations should have [...]

2019-03-04T12:08:25+00:00February 28th, 2019|REVENUE RECOGNITION|

Health Insurance Options for Small Businesses and Their Tax Implications

As health insurance plays a bigger role in our political discourse, it becomes even more of a concern for small businesses. Already, more businesses are required to offer health insurance than in years past, and more individuals are demanding health coverage as a condition of their employment. When you consider the effects on employee retention, [...]

2019-03-04T11:19:30+00:00February 27th, 2019|BUSINESS TAX, SMALL BUSINESS|

How to Properly Organize Your Tax Records

There never seems like a good time to organize your tax records, but the period of time between filings last year’s taxes and this year’s return can usually be the perfect time. While this task is never an exciting one, get it done and out of the way will only save you time and plenty [...]

2019-02-19T14:26:26+00:00February 21st, 2019|BUSINESS TAX, INDIVIDUAL TAX|

Taking Advantage of the Tax-Efficient Exit Strategy that ESOPs Offer

When you own a closely held company, and you start approaching retirement age, it’s easy to struggle with balancing conflicting goals for your business. In a case like this, an employee stock ownership plan (ESOP) may be the best answer. Take a Closer Look It’s common for business owners to have to tap at least [...]

2019-02-19T10:33:03+00:00February 19th, 2019|BUSINESS TAX|

How to Protect Yourself from Tax Identity Theft

During the busy season, tax identity theft becomes a major issue as identity thieves seek out tax returns as their primary target. Considering that the IRS processes tax refunds every year that amount to billions of dollars, criminals simply have to follow the money. To file a fraudulent tax return and pocket your money, all [...]

2019-02-15T13:28:38+00:00February 15th, 2019|BUSINESS TAX, INDIVIDUAL TAX|

The Bright Side of Lease Accounting Compliance

For three years, the new lease accounting standard has been a dark cloud on the horizon for every company that follows U.S. Generally Accepted Accounting Principles. But as we approach December 15, 2019, the effective date for nonpublic companies, keep in mind that there is a silver lining. When companies look beyond compliance and take [...]

2019-01-30T14:02:48+00:00January 30th, 2019|LEASE ACCOUNTING|

2018 Underpayment Tax Penalties Waived by IRS

According to the IRS, they will be waiving underpayment penalties for anyone who had federal income tax withholding and estimated tax payments come in under their actual tax liabilities in 2018.  This waiver was constructed with the understanding that the Tax Cuts and Jobs Act (TCJA) would revamp the federal income tax regime and in [...]

2019-01-28T11:02:16+00:00January 22nd, 2019|INDIVIDUAL TAX|

Top 20 CPA and Advisory Firm Carr, Riggs & Ingram (CRI) Welcomes 18 New Partners

ENTERPRISE, AL – Top 20 CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI) has named 18 new partners. “At CRI, we understand that the future of this profession is determined by younger generations and how we choose to invest in them. This is why CRI emphasizes a culture that surrounds the development and mentorship [...]

2019-01-30T14:18:40+00:00January 18th, 2019|PRESS RELEASES|

Opportunity Zones: Open for Business

The Opportunity Zone provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) have generated significant interest among taxpayers, particularly those who may have amounts to invest from recent capital transactions. Proposed regulations on the topic have caused further enthusiasm, as they appear to give taxpayer-friendly answers to some of the questions raised by [...]

The Importance of Handling Buy-Sell Agreements with Care

A buy-sell agreement is a valuable document to have on hand if you own any type of interest in a closely-held or family-owned business. These types of agreements will identify whether, and under what circumstances, the owners’ interests transfer. To ensure that the agreement doesn’t trigger any unwanted tax consequences, create a conflict with other [...]

2019-01-28T11:07:16+00:00January 16th, 2019|BUSINESS TAX|

5 Things to Remember About Substantiating Donations

When it comes to making a charitable donation, there are countless organizations and causes available to which you can contribute. While you have the option to simply give cash, many organizations also accept noncash items such as stock, personal property, or real estate. No matter the form of your donation, you have earned a tax [...]

2019-01-31T16:09:02+00:00January 16th, 2019|INDIVIDUAL TAX|

Avoid Double Tax on Nondeductible IRA Contributions

Do you already make nondeductible contributions to a traditional IRA for yourself? If so, it’s important to understand the tax treatments of distributions in order to avoid being taxed twice on income that you are already contributing. Substantiate Your Chosen Strategy When it comes to contributing nondeductible amounts to an IRA, there are usually several [...]

2019-01-16T15:25:37+00:00January 16th, 2019|INDIVIDUAL TAX|

The Deadline for This Year’s Form 1094/1095 Filings is Approaching

With the new year off to a fresh start, this also means it’s time to prepare for the looming deadlines of regulatory compliance. Mandatory under the Affordable Care Act (ACA) is the filing of Forms 1094-C and 1095-C. In the past two years, the IRS has given applicable large employers (ALEs) a one-month reprieve — [...]

2018-12-27T09:59:00+00:00December 27th, 2018|AFFORDABLE CARE ACT (ACA) COMPLIANCE|

Understanding the Management’s Discussion and Analysis (MD&A) Disclosure

The Management’s Discussion and Analysis (MD&A) is an important disclosure in an annual report because it summarizes the financials and relays management’s insights into the company’s performance. Unlike other disclosures, it is written as a narrative, which allows it to offer key information in a more digestible way. What Is an MD&A? The U.S. Securities [...]

2018-12-20T15:28:22+00:00December 20th, 2018|PCAOB AUDITS & SEC COMPLIANCE|

Who Needs a Family Office? It Could Be You!

Many people think of a family office as something only for the ultra-wealthy. While that was once the case, today individuals and families of more moderate means are discovering the benefits of a family office to help them manage cash flow, minimize stress, and wisely steward their resources. Could this strategy help your family? The [...]

2019-02-21T15:22:44+00:00December 20th, 2018|INDIVIDUAL PLANNING|

Blockchain: How It Can Help Your Small Business

Blockchain is a hot topic these days. Everywhere you look there’s an article breathlessly hyping its vast potential. But does blockchain have practical uses for small business owners who are focused on the here and now rather than some future technological utopia? It does. In fact, many of blockchain’s prime benefits are especially valuable for [...]

2018-12-11T15:29:38+00:00December 11th, 2018|CRYPTOCURRENCY, SMALL BUSINESS|

Tax Benefits of Student Loan Repayment

For years, news headlines have been rife with the catchphrases “student loan epidemic” and “student debt crisis.” Unfortunately, these expressions are not hyperbolic; tuition costs continue to rise each year, and federal subsidies are not keeping pace. As a result, students must pay more every year to attend college. Taxpayers are taking years and even [...]

2018-12-05T15:04:51+00:00December 4th, 2018|INDIVIDUAL TAX, TAX REFORM: INDIVIDUAL TAX|

Top 6 Mistakes to Avoid in Your Lease Accounting Plan

Ever since the Financial Accounting Standards Board (FASB) announced new lease accounting standards in 2016, businesses have worked to understand their responsibilities under the revised rules. The new rules apply to all companies. Nonpublic companies must comply starting with financial reports issued on or after December 15, 2020. While this deadline might feel like it’s [...]

2019-03-15T12:38:49+00:00November 20th, 2018|LEASE ACCOUNTING|

Top 10 Employee Fraud Myths and How They Put Small Businesses at Risk

Employee fraud is never an easy topic to discuss, but it’s especially hard to talk about with the owners of small businesses, where employees often feel more like family. While it’s counterproductive to spend every day looking at your employees and wondering who is stealing from you, implementing checks and balances on your employees can [...]

2018-11-29T15:59:36+00:00November 15th, 2018|FORENSICS|