#Nonprofits #SocialMedia and #Taxes: Is Your Organization Protected?
By Sandra Feinsmith Social media can offer cost-effective platforms through which nonprofit organizations can better communicate with stakeholders and raise awareness of their causes and fundraising efforts. Following major online giving success stories such as...
2014 Tax-Related Nebraska Legislative Changes
INCOME TAX Partial Income Tax Exemption for Military Retirement Income (LB 987 – Operative Date: January 1, 2015) A taxpayer may make a one-time election within two years after the date of his or her retirement from the military to exclude some military retirement...
Attention Company Retirement Plan Fiduciaries: Do You Know Your Role?
Retirement plans offered by a company must follow a multitude of administrative and regulatory requirements established by the Department of Labor and Internal Revenue Service. The plan’s fiduciaries, according to acceptable standards of conduct, are the individuals...
THE HBE INTERN EXPERIENCE
HBE’s intern program has been designed to provide college students considering a career in public accounting with real world experiences in audit, tax, and business advisory related services. Unlike traditional intern programs, our intent at HBE is to provide our...
First Day of School 2014
Unpacking Internal Controls
WHAT INTERNAL CONTROLS REALLY MEAN TO YOUR ORGANIZATION “Our audit will include obtaining an understanding of the entity’s environment, including internal control.” Have you ever noticed this line in the audit engagement letter? It’s often overlooked, but encompasses...
Does Your Business Qualify for the Research & Development Tax Credit?
When most people think about the type of businesses that would qualify for the Research and Development (R&D) tax credit, they automatically think of large laboratories, software, chemical, and biotech companies. However, contrary to popular belief, many small to...
Legally Binding Contracts
In business, the importance of forming quality contracts cannot be underestimated. A well-written contract can protect all parties involved, whereas a poor contract can lead to disaster. Contracts are entered into often, whether they are oral or written. In fact,...
FEDERAL GRANT RECIPIENTS: CLARIFYING SINGLE AUDITS
By Mikaela Davis, CPA The Office of Management and Budget (OMB) issued 2 CFR Part 200 on December 26, 2013, which will bring changes to the information federal grant recipients and their auditors use to navigate federal grant programs. To understand the impact...
Making a Tax Free IRA Deduction to Charity
Over the past several years, Congress has flip-flopped on legislation that allows individuals age 70 ½ to receive a tax break for charitable contributions from individual retirement accounts. The provision, known as the qualified charitable distribution (QCD) rule,...