Challenges Facing the Not-for-Profit CFO of the Future

The role of CFO in not-for-profit organizations (NFPs) is evolving and becoming increasingly complex. Especially in smaller NFPs, the CFO is now expected to assume key managerial responsibilities (in addition to traditional fiscal ones), and to thoroughly understand issues of strategic planning, compliance, communications, governance and information technology (IT), among others.

Continue reading
18 Hits
0 Comments

How the Research & Experimentation Tax Credits May Benefit Your Business

stock vector research magnifying glass over background with different association terms vector illustration 74123767The Credit for Increasing Research Activities, also known as the Research & Experimentation (R&E) tax credit, is one of the most prominent federal tax credits available to businesses.The purpose of the Credit for Increasing Research Activities is to invest in research that leads to new ideas, discoveries, and knowledge that will help to support a growing economy. In particular, the purpose of the R&E tax credit is to increase investment in research and experimentation activities. In my opinion, it is one of the most valuable federal tax credits that can be obtained. It has been claimed by a significant number of companies, ranging from small software startups, to multinational pharmaceutical firms, and many in between.

The R&E credit was initially introduced in 1981, and temporarily extended 16 times before becoming permanent  under the Protecting Americans from Tax Hikes (“PATH”) act of 2015

 

Continue reading
78 Hits
0 Comments

New York State Paid Family Leave Act

When Governor Andrew Cuomo announced New York State’s latest mandated worker benefit – an enhanced Paid Family Leave (PFL) Program, it was called the “most comprehensive program of its kind in the nation.” Starting January 1, 2018 PFL becomes a mandatory benefit in New York State, meaning that eligible employees have the right to use PFL the very first day of 2018.

Continue reading
85 Hits
0 Comments

Cyber Security - Is your Auto Dealership Prepared?

Two years after General Motors hired its first Chief Product Cyber Security Officer the auto industry released its first ever cybersecurity best practices guide. With the cybersecurity threat expanding rapidly we have to ask ourselves…what’s next?

Cybersecurity is a well-known threat, especially to the auto industry. It is not only the auto dealer’s internal operational and financial systems, but the cars themselves, that pose a cybersecurity threat. As reported by Forbes, it is expected that by the Mid-2020s all new vehicles will have data connections. We have seen significant communication advances between manufacturers and cars. Current products exist where auto dealerships can download and monitor activity of their customers’ vehicles on a real time basis. Faced with statistics like this, now is a more critical time than ever, to take steps to get ahead of hackers.

Continue reading
233 Hits
0 Comments

Tax Angles for Self-Employed Individuals

Being self-employed has its advantages and disadvantages. As the person in charge of your business affairs, you can set your own schedule and generally have more flexibility than someone in a 9-to-5 job. On the other hand, you are fully responsible for the bottom line, often with little or no backup to rely on.

Continue reading
255 Hits
0 Comments