Back to Basics: Password Security

This week I want to take a few minutes to discuss something that generates more groans and eye-rolls than a bad pun. But first I mustache you a question. (See?) What is the primary line of defense against data leaks? The answer: Passwords. Think about passwords like the keys on your key ring.  Would you… Read more »

Banking Regulatory Update 2017 | Part Deux

Last month, the Risk Advisory Services Team attended the Community Banking Technology Forum hosted by the Federal Reserve in Richmond. Bryan and I divided up the conference, so he attended Day 1, and I attended Day 2. He previously talked about the ideas that stuck with him from that forum, and this is my take… Read more »

Community Banking Industry Update | Q3 2017

This Q3 update covers FASB, FASB Effective Date Calendar, Regulatory updates and YHB News. Click Here to Download About Your Community Bank Team Our large Community Bank Services Team, which includes dozens of dedicated professionals, focuses exclusively on serving financial institutions of all sizes. In addition to more than 50 years of experience in serving banks throughout the… Read more »

YHB Manager Selected for Leadership Academy

FOR IMMEDIATE RELEASE Winchester, Virginia (October 16, 2017) — Yount, Hyde and Barbour (YHB) is proud to announce the selection of Manager Ben Vaughan for the 2017 VSCPA Leadership Academy. YHB Manager Ben Vaughan has been selected to attend the Virginia Society of Certified Public Accountants (VSCPA) 2017 Leadership Academy. This exclusive and highly selective… Read more »

Equifax | When the bad guys have everything, what do we do next?

We have all become accustomed to hearing about Cybersecurity Breaches but this one may be the Mother of all Breaches.  The latest estimate, released October 2, is that 145.5Million people were impacted by the breach.  So almost half of America has had their Social Security Number compromised. When a credit bureau is breached to this… Read more »

Banking Regulatory Update 2017

Last week the Risk Advisory Services Team attended the Community Banking Technology Forum hosted by the Federal Reserve in Richmond. Nearly all the regulatory agencies in the Fed’s 5th District were represented including the Federal Reserve, FDIC, Office of the Comptroller of the Currency, Virginia Bureau of Financial Institutions, West Virginia Division of Financial Institutions,… Read more »

The Tax Benefits of Conservation Easements

Federal and Virginia Income Tax Deduction Conservation easements, when properly structured, can result in a charitable contribution deduction for the donor.  The potential deduction amounts to 100% the difference in property value before and after the easement is established. This decline in value must be determined by a qualified appraiser.  The maximum charitable deduction for… Read more »

Don’t check your bags just yet… IRS Updates Per Diem Rates

Business travelers inevitably incur a variety of expenses when traveling away from home, including hotels, meals, or incidental expenses. The Internal Revenue Service (IRS) annually updates its special per diem rates that taxpayers use to substantiate these ordinary and necessary business expenses. Notice 2017-54 will take effect October 1, 2017 and outlines the special transportation… Read more »

Reviewing retainage, in concept and practice

Even the simplest construction project involves some degree of risk. Because of this, and the obviously higher degree of risk applicable to more complex jobs, owners will always seek to protect themselves financially. One way they continue to do so is through retainage. As you’re no doubt aware, under the concept of retainage, an owner… Read more »

Explore potential savings in 2017’s key areas

As we approach the end of 2017, it’s once again time to explore strategies for reducing your construction company’s tax bill. Because every business is different, it’s important to work directly with your CPA to determine the right moves for you. Nonetheless, here are some key areas to explore when looking for savings. Deferrals and… Read more »