News and Resources

The use of profits interest, a relatively new form of equity compensation issued by limited liability companies (LLCs), has spiked. This article discusses a request from private companies and their advisors to simplify the complex rules that have evolved to account for these transactions. Read more

On July 24, the Department of Labor (DOL) issued Field Assistance Bulletin 2019-01 providing guidance and temporary relief related to certain Form 5500's filed for multiple-employer plans (MEPs). Read more

If you are a Pennsylvania resident who owes estimated PA income tax, your next due date is rolling up fast. The third installment of 2019 tax is due on Sept. 16. Read more

In July, the FASB voted to propose a sweeping set of split deferrals for certain entities. The proposal would delay new accounting rules for 1) leases, 2) credit losses on loans, 3) long-term insurance contracts, and 4) hedge accounting. Read more

Here's how nonprofits open the door to fraud - and how your organization can shut it. Read more

Here are 2019 inflation adjustments for a variety of tax and benefit-related items. Read more

Ideally, investors should be able to get sufficient information about a company's future cash flows by looking at the income statement. But they currently do not because expense information is too densely reported, according to recent discussions by the Financial Accounting Standards Board (FASB). Read more

The IRS's staffing shortages have been well publicized and audits of individuals have decreased in the past several years. But it is a mistake to assume that the agency has stopped scrutinizing not-for-profits and conducting audits when it deems necessary. Read more

In February, Amazon backed out of plans to open a second headquarters in Queens, New York, because of community opposition to roughly $2.5 billion in government incentives. Read more

President Trump signed the Taxpayer First Act into law on July 1, after the package of far-reaching IRS reforms received strong bipartisan support in the House and Senate last month. Read more

Not-for-profit board members have a fiduciary duty to the organization. Some states have laws governing the activities of nonprofit boards and other fiduciaries. But not all board members are aware of their responsibilities. Read more

What would happen if one of your managers was suddenly forced to take long-term disability leave? Or an accounting staffer quit without notice? It is possible that your not-for-profit's work could come to a standstill, unless you have cross-trained your employees. Read more

Sisterson & Co. has announced the promotion of Megan E. Rechenberg to Tax Manager and Lisa K. Wright to Audit Manager. Read more

If you are a Pennsylvania resident who owes estimated PA income tax, your next due date is rolling up fast. Read more

Many corporate directors want to increase board diversity to capture the benefits. This article highlights key findings from recent boardroom diversity studies and some characteristics, beyond gender and race diversity, that boards should look for in new members. Read more

The ability of your not-for-profit to pursue its mission depends greatly on its financial health and integrity. If your nonprofit is growing and your executives are struggling to juggle financial responsibilities, it may be time to hire a chief financial officer (CFO). Read more

It is a well-known truism in the corporate world: Organizations that do not evolve run the risk of becoming obsolete. Just like their for-profit counterparts, not-for-profit organization also must anticipate and react to market demands. Read more

As a Pennsylvania resident, you may have received a letter regarding purchases made online or by catalog in the last year. Read more

Many private companies are still unaware of the balance sheet effects of new lease accounting rules, including lease capitalization requirements, that go into effect starting in 2020. This article explains what is changing and how private companies can adapt. Read more

GAAP require not-for-profits to regularly evaluate whether there is substantial doubt about their ability to continue as a going concern. This means that the organization won't soon liquidate its assets and cease operations. What does your management team do if it determines substantial dou Read more