Kendal Diehl

About Kendal Diehl

This author has not yet filled in any details.
So far Kendal Diehl has created 100 blog entries.

For Strong Data Security, Give Your Employees Some Backup

You may already know that the biggest data security risk for businesses of all sizes is employee negligence. People fall for simple phishing scams and leave their work phones unlocked, and we’ve all seen that file named “passwords.txt” right on someone’s desktop. Data security training is crucial, and it can go a long way toward [...]

The Impact of the New Data Security Law for Insurance Providers

As of May 1, 2019, Alabama became the latest state to sign into law heightened standards within the insurance industry for cybersecurity and data privacy. The new Law implements an exhaustive set of requirements for data security pertaining to entities or individuals licensed through the Department of Insurance. Both persons and institutions have one year—until [...]

What You Need to Know Before Engaging in a NIST CSF Assessment

The National Institute of Standards and Technology (NIST) has created a Cybersecurity Framework (CSF) that suggests procedures and controls that help enhance an organization’s cybersecurity posture. An independent NIST CSF assessment conducted by a CRI professional assesses an organization’s specific cybersecurity needs using five distinct functions, from what precautions need to be in place to [...]

2019-08-19T21:25:49-05:00August 19th, 2019|CYBERSECURITY, NIST|

Understanding the Benefits of Engaging in a NIST CSF Assessment

A cyber breach can have potentially devastating effects on a company. It can erode public trust, cause millions of dollars in losses, and even lead to fines and lawsuits. In order to help organizations improve cybersecurity, the National Institute of Standards and Technology (NIST) released its Cybersecurity Framework (CSF), which provides several guidelines related to [...]

2019-08-15T22:07:26-05:00August 15th, 2019|CYBERSECURITY, NIST|

IRS Opens a Small Window to Reconsider Bonus Depreciation Elections

The enactment of the Tax Cuts and Jobs Act (TCJA) in December of 2017 led to one of the more chaotic tax filing seasons in recent memory. The new law included several provisions that affected bonus depreciation treatment and calculations, and some taxpayers may have filed their returns without fully considering the different options that [...]

2019-08-07T14:12:48-05:00August 7th, 2019|INDIVIDUAL TAX, REVENUE RECOGNITION|

Centralized Partnership Audits Are Here

The IRS has changed how it will approach auditing partnerships by moving to a centralized partnership audit regime. The goal of the program is to allow the IRS to audit partnerships at the entity level and require the partnership entity to pay any amount due. The partnership can then elect to “push out” any resulting [...]

2019-07-25T12:45:44-05:00July 25th, 2019|AUDITS, REVIEWS & COMPILATIONS|

Plan Now to Avoid Underpaying Income Taxes

The Tax Cuts and Jobs Act changed the income tax calculation for most taxpayers. The law changed rates for taxes and tax brackets, revised business expense deductions, increased the standard deduction, removed personal exemptions, increased the child tax credit, and limited or discontinued other deductions. If You’re an Employee Who Gets a W-2 For most [...]

2019-07-25T10:27:03-05:00July 25th, 2019|INDIVIDUAL TAX|

Top 20 Nationally Ranked Carr, Riggs & Ingram (CRI) Expands Operations in Mississippi

CRI Merges Laurel Based Firm, Wm. F. Horne & Company, PLLC ENTERPRISE, Ala., July 24, 2019 - ​Top 20 nationally ranked CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI) has increased its investment in the state of Mississippi, expanding its locations to serve clients there through the merger of WM. F. Horne & Company, [...]

2019-07-24T08:23:43-05:00July 24th, 2019|PRESS RELEASES|

Natural Disasters Can Affect Your Financial Statement, Too

Natural disasters can have financial implications for business owners over months, years, and even decades. Companies are expected to follow regulatory guidelines in all circumstances, including — and especially — in the aftermath of a natural disaster. Although the expectations are plainly written into the guidance, many companies are unfamiliar with the key points. Four [...]

Need Relief After a Disaster? No Quick Fixes, But You Have Options

Natural disasters are costly to just about every taxpayer, but individuals are often hit the hardest. Many are faced with the costs of repairing or replacing personal assets, and some even lose their jobs. When infrastructure fails, businesses close and temporarily (or permanently) lay off their workers, and individuals struggle to make ends meet. While [...]

2019-07-19T10:59:25-05:00July 16th, 2019|DISASTER RECOVERY, INDIVIDUAL PLANNING|

How Does an Investment in an Opportunity Zone Affect Your Taxes?

Investors and developers have many questions about the opportunity zone program created by the Tax Cuts and Jobs Act of 2017. The following example gives some specifics about how these investments will be structured. Client An investor or developer has a qualifying gain of $1 million from the sale of a capital asset. She chooses [...]

2019-08-27T09:30:14-05:00July 2nd, 2019|INDIVIDUAL TAX, OPPORTUNITY ZONES|

Carr, Riggs & Ingram, LLC (CRI) Launches CRI TPA Services, LLC

New Company Focuses on Offering Customized Retirement Plan Administration for Small Businesses to Large Enterprises ENTERPRISE, Ala., July 1, 2019 - ​Carr, Riggs & Ingram (CRI) recently added CRI TPA Services, LLC to their family of companies, a new portfolio company that will offer clients tailored retirement plan solutions for their expanding business needs. CRI TPA Services, [...]

2019-07-11T15:10:12-05:00July 1st, 2019|PRESS RELEASES|

Lease Accounting Standard Reaches Far and Wide, but Will It Affect Your Tax Return?

When the new lease accounting standard was released a few years ago, business leaders braced themselves to see their financial statements change. Such a drastic shift in accounting precedent required them to overhaul their policies and procedures surrounding leases. But savvy business leaders are also asking: “How will the standard affect our tax situation?” It [...]

2019-06-28T10:58:47-05:00June 28th, 2019|LEASE ACCOUNTING|

IRS Issues Finalized Regulations on Both State and Local Tax Credits as Well as Charitable Contributions

The U.S. Department of the Treasury and the Internal Revenue Service have published finalized statutes calling for taxpayers to lower their charitable contribution deductions by the amount earned or expected to earn in return for in-state or local tax credits. The IRS also stated that taxpayers could recognize payments in exchange for these credits as [...]

2019-06-26T10:50:08-05:00June 26th, 2019|INDIVIDUAL TAX|

Working to Strengthen Taxpayer Protections: IRS Under Reform from Congress

With a direct focus on the IRS, the U.S. Senate has passed an extensive reform package aimed at further protecting taxpayers. Alongside new provisions adopted to improve customer service provided by the IRS, the Taxpayer First Act contains several new taxpayer protections. Improved Identity Theft Defenses Tax-related identity theft was a top contender for new [...]

2019-06-24T11:22:48-05:00June 20th, 2019|INDIVIDUAL TAX|

Elevate Your Audit Committee: 5 Topics for 2019 Agendas

Audit committees play a vital role in overseeing the integrity of financial reporting. But in today’s shifting risk landscape, is your audit committee paying attention to the right things? Most audit committees are effective at executing their core responsibilities, such as selecting and overseeing the independent auditor. Optimizing your audit committee, rather than falling prey [...]

2019-06-20T12:13:55-05:00June 19th, 2019|AUDITS, REVIEWS & COMPILATIONS|

Carr, Riggs & Ingram (CRI) to Host Atlanta Chapter of the American Payroll Association’s 2019 Summer CPP/FCP Study Group

Carr, Riggs & Ingram (CRI) is delighted to host the Atlanta Chapter of the American Payroll Association’s 2019 Summer CPP/FCP Study Group, a ten week program promoting and supporting the professional education, and training of payroll, accounting and human resource professionals in the Atlanta area. “We are delighted to welcome and host our Atlanta payroll and [...]

2019-06-12T17:28:19-05:00June 12th, 2019|PRESS RELEASES|

CECL: An Overview

The current expected credit losses (CECL) journey began with the issuance of an exposure draft in 2010, continued with the issuance of a supplementary document in 2011, and an additional exposure draft in 2012. After much debate and over 3,300 comment letters, the Financial Accounting Standards Board (FASB) released the much-anticipated Accounting Standards Update (ASU) [...]

2019-06-07T12:29:26-05:00June 6th, 2019|CECL, FINANCIAL INSTITUTIONS|

How South Dakota v. Wayfair Affects Manufacturing and Distribution Companies

It’s been almost a year now since the Supreme Court’s South Dakota v. Wayfair decision affirmed the state’s law regarding the taxation of out-of-state sellers. There’s been a lot written in that time about how retailers need to better track sales and compliance with similar laws in an increasing number of states throughout the U.S. [...]

How Can Home Sellers Exclude Capital Gains Tax?

U.S. tax laws have long offered incentives to people who own the homes they live in. Among the most generous of these incentives is the ability to reduce the taxable gain on the sale of a personal residence. Here’s what most sellers need to know to meet the requirements of the law. Are You Eligible [...]

2019-05-28T12:18:14-05:00May 28th, 2019|INDIVIDUAL TAX|