Month: December 2018

Archive for December 2018

Nonprofit Efficiency Measures

Written by: Pete Kennedy, CPA, Director of Audit Services For as long as I’ve been involved with nonprofit organizations, expense-based financial ratios (Program / G&A /Fundraising as a percentage of total expenditures) have been used as an efficiency measurement.  I’m sure you’re familiar with them – and the many derivatives that appear online in the…

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Shane Bennett Joins Audit Department

Cover & Rossiter is pleased to announce the hiring of Shane Bennett as Audit Specialist in the Audit Department. Bennett joined Cover & Rossiter in late October after spending the last 10 years as the Financial Management Director for a Planning District in southwest Arkansas.  Born in Texas and raised in Arkansas, she completed both…

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Year-End Tax Planning for Businesses

There are a number of end of year tax planning strategies that businesses can use to reduce their tax burden for 2018. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income into 2019, by delaying end-of-year invoices, so payment is not received until 2019. Businesses using…

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Year-End Tax Planning for Individuals

Once again, tax planning for the year ahead presents a number of challenges this year, primarily due to the passage of the law known as the Tax Cuts and Jobs Act of 2017 (TCJA). Changes include the nearly doubling of the standard deduction, elimination of personal exemptions and the reduction or elimination of numerous itemized…

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