Knock! Knock! Who’s there…

When I was a kid, one of my favorite books was Bram Stoker’s Dracula; I loved reading about the ways the small band of vampire hunters went about systematically hunting down Dracula’s lairs in London while he was doing his best to find ways to avoid detection while creating new victims. Something that always stuck… Read more »

Construction Industry Update | Q3 2017

As we head into the heat of summer, construction companies are no doubt entering one of the busiest times of the year.  While the focus of the critical mass is on the work in the field, it is still important to check the pulse on the financial health of your organization and the wellbeing of… Read more »

FASB Makes the Right Call

In March 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-08, ”Receivables — Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities.”  While not as broad in scope as some of the other pending guidance issued by the FASB, the amendments in this ASU are important… Read more »

Update on IRS Disaster Relief

IRS gives tax relief to victims of Hurricane Irma and Hurricane Harvey.  Taxpayers in “designated counties” have until January 31st to file certain individual and business tax returns and make certain tax payments. This includes an additional filing extension for taxpayers with valid extensions that run out on October 16th and business with extensions that… Read more »

Fall is Upon Us

2017 has been moving by pretty quickly.  It is now September and the kids are back in school, football season is starting and before we know it, the Holidays will be here!  Fall is a great time of year for catching up and getting ready for next year. Top 10 list of things to do… Read more »

Historical Network Resiliency Planning

The Winchester Star, the local newspaper here in YHB’s hometown, publishes a weekly column of stories from their archives called ‘Out of the Past’. It covers 25, 50, 75, and 100 years of newspaper reporting and gives historical context to what was important in those times. It also makes it easy to pine for headlines… Read more »

What really motivates nonprofit donors

What do charitable donors want? The classic answer is: Go ask each one individually. However, research provides some insight into donor motivation that can help your not-for-profit grow its financial support. Taxing matters The biennial U.S. Trust® Study of High Net Worth Philanthropy, conducted in partnership with the Indiana University Lilly Family School of Philanthropy, regularly… Read more »

When does your nonprofit owe UBIT on investment income?

In recent years, the IRS has increased its scrutiny of not-for-profits’ unrelated business income (UBI). Dividends, interest, rents, annuities and other investment income generally are excluded when calculating unrelated business income tax (UBIT). However, there are two exceptions where such income is taxable. 1. Debt-financed property When your nonprofit incurs debt to acquire an income-producing… Read more »

Ready or not… FASB ASU 2016-14

Ready or not, here it comes! “It” is FASB ASU 2016-14 on Not-For-Profit Financial Reporting and Disclosures. Don’t panic; YHB is here to help you implement, but we need your assistance and we need to get started now. Minor changes include: Net asset classification Reporting of investment expenses (net with investment income) Disclosing the dollar amount of… Read more »

YHB Named in Top 200 Largest Accounting Firms

Once again, YHB has been named in INSIDE Public Accounting’s 27th annual ranking of the largest accounting firms in the nation, the IPA Top 200. We are so very grateful for our YHB team members, clients and communities that have been allowing us to serve them for 70 years. IPA firms were ranked by U.S…. Read more »