Market View (April 2018) – The Quarter in Review

  |  April 5, 2018

As we considered this newsletter, the smooth monthly returns experienced in 2017 seem to be a happy and longed for memory. As we noted in earlier newsletters, volatility is the norm while 2017 was the exception. In order to gauge any bout of volatility we have to review it against the broad economic picture. Read more. Read More

Tax Reform and Choice of Entity Considerations

  |  April 2, 2018

All pass-through entities, including partnerships and S corporations, should evaluate their choice of entity as a result of tax reform and the new reduced corporate tax rate of 21 percent (previously 35 percent). Converting from a pass-through entity to a C corporation requires thoughtful consideration, analysis, and planning. Read more. Read More

IRS Issues “Dirty Dozen” Tax Scam List

  |  April 2, 2018

The Internal Revenue Service has released its annual "Dirty Dozen" list of tax scams with a warning to taxpayers to remain vigilant about these aggressive and evolving schemes.

This year's “Dirty Dozen” list highlights a wide variety of schemes that taxpayers may encounter throughout the year, many of which peak during tax-filing season. The schemes can run the gamut from simple refund inflation scams to technical tax shelter deals. A common theme throughout these: Scams put taxpayers at risk. Read more. Read More

Contribute to an IRA by April 17, Claim It on Your 2017 Tax Return

  |  March 26, 2018

The Internal Revenue Service reminds taxpayers that it’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2017 tax return. Anyone with an IRA may be eligible for a tax credit or deduction on their 2017 tax return if they make contributions by April 17, 2018.

An IRA is designed to enable employees and the self-employed to save for retirement. Most taxpayers who work are eligible to start a traditional or Roth IRA, or add money to an existing account.Read more. Read More

Connecting Risk and Strategy: How Are U.S. Organizations Handling ERM Today?

  |  March 21, 2018

A just-released survey from the Pool College of Management at NC State University reveals that about one-third (32%) of organizations in the U.S. survey group do minimal to no formal assessments of strategic, market, or industry risks.

The survey has been conducted each year since 2009, providing an opportunity to observe shifts in trends. It covers a broad range of industries and provides some useful insights about the level of sophistication in risk oversight, highlighting many of the challenges associated with strengthening it. An increasing number of U.S. organizations embrace the concept of enterprise risk management (ERM), but there is noticeable room for improvement in how they are managing the process.

Read more about the changes in the marketplace that are likely influencing this trend at the Journal of Accountancy. Read More