Key Review Points of Form 990

A not-for-profit organization’s Form 990 is more than just an annual filing requirement; it can be used as an informative document to external users, as a year-to-year comparative document for management, or even as a marketing reference for potential donors. As a best practice recommendation, all not-for-profit organizations should establish a committee to be responsible… Read more »

Monitoring Subrecipients in Compliance with the Uniform Guidance

The Compliance Supplement, published by the Office of Management and Budget, identifies 12 types of compliance requirements that may or may not applicable to a federal award(s) provided to a non-Federal entity. One of the requirements that may be applicable to a non-Federal entity is that of subrecipient monitoring. In order to understand the compliance… Read more »

IRS Error in Tax Calculation in Schedule D Tax Worksheet (Form 1040)

Virginia Mailing Tax Relief Checks to Taxpayers We wanted our clients to be aware that, due to an error on the Schedule D Tax Calculation Worksheet, you may see an unexpected surprise in the mail. The IRS is reviewing all potentially affected returns and issuing checks for any overpayments. Taxpayers reporting long-term capital gains and… Read more »

YHB Attends the Virginia MGMA Fall Conference

Tax manager Megan Furlong, CPA, attended the Virginia Medical Group Management Association (VMGMA) fall conference last month.  “I had the opportunity to attend the Virginia MGMA fall conference, held in Williamsburg, VA last month. The VMGMA’s mission is to continuously improve the performance of Virginia medical practice leaders and their organization.  Over the course of three days,… Read more »

YHB Welcomes Justin Bryan and Luke Gore as Partners

Winchester, VA (October 1, 2019) — The shareholders of Yount, Hyde and Barbour (YHB) have voted to admit Justin Bryan and Luke Gore as principals into the Firm effective October 1, 2019. “We are proud to welcome Justin and Luke as partners of YHB. Justin’s tax expertise and extensive industry knowledge has been key in… Read more »

The Path from Intern to First Year Associate

CJ Freedman is a 2019 graduate of the University of Lynchburg (previously Lynchburg College) and a first-year audit associate in our Richmond office.  CJ majored in accounting and was introduced to life at YHB during his 6-week internship the summer after his junior year.  Following his internship, CJ accepted our job offer to join YHB… Read more »

Is your accounting software living up to the hype?

Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on being comprehensive accounting information systems — depending on the price point, of course. So, is your accounting software living up to the hype? If not, there are a couple of relatively simple steps you can… Read more »

What is the Legacy You are Leaving to Your Family?

As a CPA, I often talk to our clients about wealth transfer, avoiding probate, and minimizing estate and income tax. Understanding client desires and family dynamics has always been a part of that process. However, rarely do we discuss the stories, wisdom, and recipes accumulated over a lifetime and passing that to the next generation…. Read more »

YHB Construction Industry Quarterly Update – August 2019

With summer coming to a close, and fall right around the corner, most contractors are working at a hectic pace, and have all the work they can handle. In this edition, we’ll take a look at the statistics on construction backlog, and also examine what the industry is doing to keep up with technology changes…. Read more »