Mary Alison Capps

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So far Mary Alison Capps has created 103 blog entries.

Preparing for a Single Audit: Understanding the Requirements

In today’s financial climate, non-profit organizations and local governments are on the lookout for new sources of funding and new ways to serve their clientele. One potentially-untapped source of funds is grants through the federal government, which are available every year for a multitude of purposes, some of which are likely to mesh with the [...]

2020-01-23T11:15:47-05:00January 23rd, 2020|GOVERNMENTS|

Repeal of the “Nonprofit Parking Tax”

The not-so-popular “Parking Tax” that was imposed under I.R.C. Section 512(a)(7) as part of the 2017 Tax Cuts and Jobs Act has been retroactively repealed under the Taxpayer Certainty and Disaster Tax Relief Act. This Act was only recently signed into law on December 20, 2019. When imposed, the Parking Tax meant that exempt organizations [...]

2020-01-21T17:24:17-05:00January 21st, 2020|NOT-FOR-PROFITS|

What is the Federal Deposit Insurance Corporation Improvement Act (FDICIA)?

The Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) is getting more attention as financial institutions increase assets through mergers and acquisitions as well as organic growth. Bankers need to understand the requirements of this guidance at the $500 million and $1 billion asset thresholds in order to successfully implement FDICIA to prevent external [...]

2020-01-21T17:09:47-05:00January 21st, 2020|FINANCIAL INSTITUTIONS|

Considerations for Banking Cannabis-Related Businesses

Background – Legislation Effects The Controlled Substances Act of 1970 made all forms of cannabis an illegal Schedule 1 substance. Today, 33 states, plus the District of Columbia, have legalized marijuana for medical use, and 11 states allow recreational use of marijuana for adults over the age of 21. On December 20, 2018, the Agricultural [...]

2020-01-15T14:31:42-05:00January 15th, 2020|FINANCIAL INSTITUTIONS|

CRI TAMPA BAY – Cathy Haug: Suncoast Estate Planning Council Tax Update

CRI Partner Cathy Haug will be presenting a 2019 Tax Update along with Manager Ryan Hayden at the Suncoast Estate Planning Council Tax Update. This event will take place on January 9, 2020 at the St. Petersburg Yacht Club. Whether you want to cut your tax bill or save for retirement, this presentation will keep [...]

2019-12-30T12:02:41-05:00December 30th, 2019|Around Town|

CRI PANAMA CITY – Kelly Littleton: Personal Finance, Year-End Giving, Taxes, and You

CRI Partner Kelly Littleton recently presented "Personal Finance, Year-End Giving, Taxes, and You" at the First United Methodist Church of Panama City. Her presentation provided important year-end planning topics for both individuals and businesses, as well as an update for reporting hurricane casualty details on tax returns.

2019-12-30T11:40:02-05:00December 30th, 2019|Around Town|

CRI PALM BEACH GARDENS – Steve Ritmiller: Palm Beach North Chamber Annual Holiday Mixer

CRI Partner Steve Ritmiller recently welcomed local business leaders and service providers to the Palm Beach North Chamber Annual Holiday Mixer at the Gardens Mall. He started the event with a quick introduction to the event as well as CRI's lines of service and industries served.

2019-12-30T09:44:15-05:00December 30th, 2019|Around Town|

2020 IRS Form W-4 Employer Guide

On December 5th, the IRS released the final version of the 2020 Form W-4. This includes fundamental changes to income tax withholding that will significantly affect both employers and employees. These changes are largely in response to the 2017 Tax Cuts and Jobs Act. This 2020 IRS Form W-4 Employer Guide is intended to help [...]

2020-01-13T15:30:21-05:00December 26th, 2019|CLIENT ACCOUNTING SERVICES|

Providing Banking Services to Customers Engaged in Hemp-Related Businesses

The Agriculture Improvement Act of 2018 (or the 2018 Farm Bill), which removed hemp as a Schedule 1 controlled substance under the Controlled Substance Act, became law on December 20, 2018. The 2018 Farm Bill directs the United States Department of Agriculture (USDA), in consultation with the U.S. Attorney General, to regulate hemp production. The [...]

2019-12-13T15:27:04-05:00December 13th, 2019|FINANCIAL INSTITUTIONS|

Pop Quiz: Is Your Nonprofit Ready for New Revenue Recognition Rules?

For nonprofit organizations, “revenue” can be a tricky concept — especially when it comes to determining how and when to record it. The new revenue recognition standard (Accounting Standards Codification 606, Revenue from Contracts with Customers) goes into effect starting with annual periods ending after December 15, 2019, and accounting for anything other than a [...]

2019-12-13T15:11:20-05:00December 13th, 2019|NOT-FOR-PROFITS|

The USDA Releases (Interim) Final Rules on Hemp Production

Effective October 31, 2019, the U.S. Department of Agriculture (USDA) released the long-awaited interim final rules on the production of hemp in the United States of America. This legislation is a massive moment for the fledgling product’s return to the American agricultural market after roughly 50 years on the sidelines. Hemp has been grown in [...]

2019-12-13T14:45:31-05:00December 13th, 2019|AGRIBUSINESS|

Expect Changes on Your 2021 Plan Year Employee Benefit Plan Audit

Due to newly released accounting standards, expect significant changes in both the audit process and the financial statement and management communication deliverables. The American Institute of Certified Public Accountants (AICPA) has issued a new standard that will apply to all audits of ERISA plan financial statements covering periods ending after December 15, 2020. (In other [...]

2019-12-16T12:50:50-05:00December 10th, 2019|EMPLOYEE BENEFIT PLANS|

CRI TAMPA BAY – Cathy Haug: BUCKS Business Network Year-End Planning

CRI Partner Cathy Haug will present at the BUCKS Business Network weekly meeting on December 12, 2019. Her presentation will cover 2019 tax planning opportunities with a focus on business owners and self-employed individuals.

2019-12-10T18:00:20-05:00December 10th, 2019|Around Town|

Key Factors that Drive Reimbursement in the PDPM Model

PDPM or Patient-Driven Payment Model is the new Medicare reimbursement system. It introduces a number of changes compared to the historical RUG-IV model. It is designed to address each patient’s unique needs independently and encourages more specialized, patient-driven care.   Under PDPM, each patient is classified into a group of each of the five case-mix [...]

2019-12-06T13:20:57-05:00December 6th, 2019|HEALTHCARE|

CRI ENTERPRISE – Keith Hundley: SCACAP Statewide Board Training Retreat

CRI Partner Keith Hundley is hosting a session at the South Carolina Association of Community Action Partnership's 12th Statewide Board Training Retreat on December 6, 2019. Keith's presentation will cover Financial Operations and Oversight for Board Members based on the requirements contained in the CSBG Organizational Standards, Head Start Act, and Head Start Program Performance [...]

2019-12-03T23:52:05-05:00December 3rd, 2019|Around Town|

A Blueprint for Nonprofit Revenue Recognition Implementation

Ready or not, revenue recognition is changing. Two major new accounting standards — Accounting Standards Codification 606, Revenue from Contracts with Customers (Topic 606) and Accounting Standards Update 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made (ASU 2018-08) — are effective for reporting periods ending after December 15, 2019. [...]

2019-12-03T23:12:20-05:00December 3rd, 2019|NOT-FOR-PROFITS|

The Growing Threat of Cyberattacks in Manufacturing and How to Prevent It

As a manufacturer, the success of your business is dependent on your products. Things like secret ingredients, build lists, and patented designs and production processes are key to keeping your products unique and valuable to your consumers. Because a vast majority of this information is stored in digital technologies (like cloud storage and artificial intelligence), [...]

2019-12-03T13:12:46-05:00December 3rd, 2019|MANUFACTURING & DISTRIBUTION|