Entries by Kristen

How to Review Your 5500

The Form 5500 is an annual report that is filed with both the IRS and the DOL. It has information that relates to the operation and compliance of a retirement plan, such as a 401(k) plan. If your company has a retirement plan, it will likely need to file this form every year. Typically, this […]

What Should a Non-Profit Board Ask of Their Auditor?

An audit is an independent review of your non-profit organization’s financial statements and records. The goal of an audit is usually to determine if a company is adhering to generally accepted accounting principles or GAAP. GAAP was created by the Financial Accounting Standards Board and is the standard used by the U.S. Securities and Exchange […]

401K Audit Checklist

Many employers are realizing the need to offer benefits to retain and recruit top talent. One of the most common benefits that we see used is the 401(k). There are many different styles of 401(k) plans, but all 401(k)s are designed for employees to contribute a portion of their income, for those contributions to be […]

Is Non-Profit Accounting Different?

Nonprofit accounting is about demonstrating financial stability, so that the Organization will be around a long time in order to fulfil its mission throughout the community.   Reserve Policy for Non-Profits Nonprofits are allowed to receive more revenues than expenses, which will hopefully produce reserves for a rainy day. Be sure your nonprofit has implemented a […]

Accounting Tips for Real Estate

Managing real estate accounting is an essential function to further your company’s success. It allows you to track your cash inflows and outflows, evaluate your financial performance and maximize your tax benefits. Good accounting practices give you tools for effective business analysis, helping you stay ahead and move your real estate business forward. At Marshall […]

Georgia Gives Back to Adoptive Families

If you are involved in the foster care system, an adoption ministry, a home open to adoption, or are interested in adoption, Governor Kemp recently signed a bill that will bring tax relief and encourage families to adopt children from the foster care program. Currently, in Georgia, there are around 12,000 children in the foster […]

You Can Still Save on Your 2020 Taxes

When a new year begins, it’s generally not acceptable to make any changes to your 2020 tax situation since your income and deductions are based on the cash receipts and payments that end of the previous year. But there are still a few things that can be done to lower your 2020 taxes. Certain payments […]

Tax Season 2021: What You Need to Know About Your 2020 Tax Return

You’re probably sick of even thinking about the year 2020. But, unfortunately, you probably still have the preparation of your 2020 tax return to take care of. A lot has changed for the 2021 tax season.  1.The COVID-19 Virus and Your Taxes The COVID situation in 2020 extended the due date for individual tax return […]

Accounting for Law Firms

Accounting firms help many individuals and companies make financial decisions. No matter what kind of business you run, an accounting firm can offer advice and assistance to help your company set financial goals and develop budgets.  If your law firm seeks dependable financial advice or wants someone to handle your weekly payroll, an accounting firm […]

Accounting Tips for Non-Profit Organizations

Why does an industry whose organizations operate on often tight budgets seem to have the most complex accounting and reporting requirements?  It really seems unfair.  I’ve worked with many nonprofits of different sizes, many of which simply don’t have the extra funds to throw at an accounting department, and because of this, having a good, […]