by Ryan Foust | Jul 12, 2016 | Accounting
Late last year we posted that the Department of Labor had delayed some significant changes to the FLSA overtime rules. They have now finalized those changes and they are set to take effect on December 1, 2016. The full details of the changes can be found on the DOL’s...
by Ryan Foust | Aug 6, 2013 | Accounting
Healthcare Implementation Delayed This isn’t “new” news anymore, but as we haven’t been on the blog in a while, we thought it important enough to post even if a bit delayed. As you may be heard, the federal government has decided to delay the full implementation of...
by Ryan Foust | Jan 25, 2013 | Accounting, Economy, Healthcare
We get asked this question a good amount as the law goes into effect less than a year from now. The very first place we go to answer that question is to determine if the ministry is a “Large Employer” and therefore, likely subject to the law. To be considered a...
by Ryan Foust | Dec 12, 2012 | Accounting, Tax
As the end of the year approaches, don’t forget that 1099’s are due January 31st. Our accounting department uses December to review which vendors our clients are missing W-9’s for so that we can get them collected them prior to the deadline. The penalty for not...
by Ryan Foust | Nov 26, 2012 | Accounting, Tax
The standard mileage rate will increase 1 cent per mile on January 1, 2013 to 56.5 cents per mile. Medical and moving rates will also increase 1 center per mile to 24 cents per miles. The per mile rate for charitable purposes, which is set by statute, will remain 14...
by Ryan Foust | Aug 3, 2012 | Accounting, Tax
The recognition of volunteer labor as non-cash revenue is dictated by FASB ASC 958-605-25-16, Contributed Services. This standard dictates that if the services (a) create or enhance non-financial assets or (b) require specialized skills, are performed by people with...
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