Articles

ETFs Need Their Own Accounting Rules- Part I

By James W. Kaiser, CPA Partner, Investment Management Group As I am starting to work with more and more Exchange Traded Funds (ETFs), it is becoming increasingly apparent that they need their own specific set of accounting... More

ETFs Need Their Own Accounting Rules- Part II

By James W. Kaiser, CPA Partner, Investment Management Group It is imperative for open end investment companies to value their investments at fair value when determining their net asset value (“NAV”).  For investment... More

Tax Provisions In New Patient Protection and Affordable Care Act

Representing a sweeping overhaul of the U.S. health care system, the Patient Protection and Affordable Care Act was signed into law on March 23, and its companion reconciliation act will be signed into law early next week.... More

HIRE Act Provides Valuable Tax Incentives to Businesses

The Hiring Incentives to Restore Employment (HIRE) act, signed into law March 18, provides tax incentives for hiring and retaining workers and purchasing equipment and many other business assets. Payroll tax forgiveness This... More

Is a Time Deposit a Security or a Cash Item?

By James W. Kaiser, CPA Partner, Investment Management Group   Is a Time Deposit a security or a cash item?  The answer is both.  There are very few short-term instruments that are treated as a cash item under the 40 Act. ... More

Are P-Notes Classified As Derivatives Under GAAP?

By James W. Kaiser, CPA Partner, Investment Management Group   I recently received a question regarding a Fund that invests in India through the purchase of Participatory Notes (“P-Notes”).  The question was whether... More

Controlled Foreign Corporations and Commodity Exposure in Mutual Funds

By James W. Kaiser, CPA Partner, Investment Management Group One of my colleagues once said to me, “Why won’t the IRS just let regulated investment companies just invest in commodities?”  Many funds seek the... More

Employee Contribution Deposits & Summary Annual Reports

Employee Contribution Deposits Many employers withhold employee contributions from the employee’s payroll check and remit the total contribution for all employees to their retirement plan.  DOL Regulation 2510.3-102 ... More

Qualified Plans- Determination Letters

Many of our clients maintain qualified retirement plans using master, prototype or volume submitter specimen plans.  These plans are pension or profit sharing plans that are sponsored by a bank, insurance company, brokerage... More

Persistence Pays

If donations play a critical role in sustaining your not-for-profit organization, then finding ways to maximize your fundraising efforts is an ongoing process. A strong follow-up program can help. In a perfect world, every... More

Governance and the IRS

The IRS is interested in how tax-exempt organizations govern themselves. Why? Accountability and tax compliance. The theory is that a well-governed organization is more likely to comply with tax laws, safeguard its assets,... More

Retirement Plan Limits and IRS Updates

With few exceptions, retirement plan limitations for the 2010 year are unchanged from 2009. The Internal Revenue Code requires that the dollar limits on contributions and benefits related to qualified retirement plans be... More

New Identity Theft Rule

Over the past several years, Congress has taken legislative action to address the growing problem of identity theft. As a result, penalties are much stiffer for those convicted under federal identity theft laws, and financial... More

Tax Treatment of Employer-Provided Automobiles

IRS Regulations require employers, as well as employees, to document business and personal usage of automobiles.  Worksheets are included.  Read More →

2010 Payroll Tax Update

A summary of payroll tax changes for 2010.  Read More →

Social Media and the Not-For-Profit World

With the development of interactive Internet applications (known as Web 2.0 tools) and the popularity of social media, tech-savvy not-for-profit organizations have new opportunities to increase their visibility. In the beginning,... More

IRS Steps Up Employment Tax Audits

This November, the IRS intends to launch a three-year National Research Program (NRP) initiative on employment taxes. The program is part of IRS efforts to close the tax gap — the difference between what taxpayers should... More

401(k) Plan Trends

A 401(k) retirement plan is a valuable benefit. Nonetheless, as employers look for ways to reduce expenses in the current economic environment, they are scrutinizing the cost of certain plan features, such as the popular... More

Be Sure You’re Registered

Is your organization registered as a charity in all the states it should be? This may have been a low priority in the past, but the redesigned Form 990 brings the issue front and center by asking organizations to provide... More

Executive Compensation Practices

While excessive corporate salaries have been generating headlines recently, not-for-profit salaries were in the spotlight not all that long ago. The negative publicity was a blow that, for a time, undermined the public’s... More