Noah Hagerman, CPA

Join CRI's Government and Public Sector advisory team for this live CPE-eligible session focusing on recent developments in state and local governmental accounting and auditing, including: • The Governmental Accounting Standard Board's (GASB) new Statement 102 on risk disclosures • The latest and most notable topics related to Single Audits • The Financial Data Transparent Act (FDTA) and its implications for governments • The accomplishments of the GASB at 40 and what's in store for 2024 Learning Objectives • Understand the new GASB requirements for disclosing risks in notes to financial statements • Recognize changes to the Single Audit and the resulting key challenges • Discern the provisions of the FDTA and how they may affect governments • Learn about the new standards and proposals the GASB has planned for this year Live webinar attendees are eligible for 2 CPE credit hours. For registration information, visit https://cricpa.com/events. #GASB #GovernmentalAccounting #CRIwebinar

1

SOC 1 assessments can be such a pain, let Mead take the burden off your shoulders. We will take the first pass at the assessment and put it in an easy to follow template. Then all you have to do is review and approve!

14

1 Comment

📣 Big Changes Coming for Federal Award Recipients! The 2024 Revised Uniform Guidance is here, bringing the biggest updates since 2014. Here’s what you need to know: ✨ Higher Audit Thresholds: The single audit threshold has increased from $750K to $1M, making it easier for smaller organizations to focus on their missions. ✨ Simplified Cost Structures: Modified Total Direct Cost (MTDC) and equipment capitalization thresholds are now higher, easing reporting requirements. ✨ Clearer Guidance: New plain language revisions clarify confusing sections and reduce paperwork for awardees. ✨ De Minimis Rate Bumped Up: The rate rises from 10% to 15% for more accessible cost recovery. These updates are effective for awards from Oct 1, 2024. 🗓️ Get ready by reviewing your policies and financial systems! #uniformguidance #federalawards #nonprofits #grantmanagement #singleaudit #grantreporting #mandalacpa #federalawards

10

3 Reasons why NOT to hire a multi-state tax professional… 1. You already proactively manage your multi-state tax obligations and you are fully compliant. ✅ 2. You already maximize your tax savings and minimize your risks of potential penalties and audits. ✅ 3. You already have in-depth knowledge and expertise in navigating complex multi-state tax laws and regulations. ✅ If you have all 3 bases covered, you’ve truly done some excellent work (Hint though - we find many companies who THINK it’s all in order, but may not be). However, if you need assistance in bridging the gap between your business and complex multi-state tax laws, hiring a multi-state tax professional alongside your existing sales tax software will help you to achieve compliance, while you focus on the growth and profitability of the business. Do reach out if we can be of assistance at Miles Consulting Group, Inc. #SalesTax #MultiStateSalesTax #TaxCompliance

11

Check out our recent Deltek blog post! #governmentcontracting #govcon360 #CMMC #2cfr200 #davisbacon

10

Middle market CFOs, Controllers, tax professionals, etc. please join me and my SALT colleagues on August 27th for a free webinar discussing how your company can be state tax-efficient as your business grows. During this webinar, we will address common and current multistate income and sales tax questions, focusing on the challenges middle market companies face and strategies to navigate regulatory ‘grey areas’. We’ll examine these issues across various industries, including manufacturing, technology (SaaS, software, healthcare), construction/real estate, wholesale distribution, retailers and service providers, providing industry-specific insights to enhance your tax planning approach. #cfo #controller #middlemarket #privateequity #tax #taxes #statetax #stateandlocaltax #SALT #multistatetax #FDSALT #FrazierDeeter #statetaxrisk #statetaxcontroversy #riskmanagement #statetaxplanning #taxrisk #businessalignmentplanning #businessplanning #strategicplanning #taxcompliance #accounting #CPA https://lnkd.in/erxiuycH

1

Ready to streamline your year-end close and ace your audit prep? Zeroed-In Consulting has you covered with our complimentary 2024 Year-End Checklist! This time of year can be daunting, but a structured approach makes all the difference. Our guide is packed with essential steps to help you tackle everything from financial statement reviews to audit sample testing and technical accounting considerations. 📌 Key sections: - Year-End Close: Review statements, reconcile accounts, and document internal controls - Technical Accounting: Address complex transactions, including new leases, goodwill impairments, and debt/equity updates - Audit Prep: Prep for a smooth audit with checklists for revenue, fixed assets, stock compensation, and more Whether you're an accounting veteran or navigating your first year-end close, this checklist is designed to keep you organized and on track. 👉 Download now to ensure a seamless close (link in comments). Need specific guidance? Our team is here to support you through the year-end process! #YearEndClose #AuditPrep #Accounting #ZeroedInConsulting #USGAAP #ZeroedInsights #FinancialReporting

9

1 Comment

Did you know 37 states impose a personal property tax? BDO explains how to maintain compliance across multiple states. #StateAndLocal #TaxCompliance https://dy.si/qTQgLA

6

With the upcoming sunset of the FFIEC CAT, it’s essential for financial institutions to reassess their cybersecurity strategies. Consider NIST CSF 2.0 or CISA CPGs to strengthen your security posture. Need guidance? Eide Bailly's cybersecurity team is ready to assist! #Cybersecurity #FinancialServices

2

🌐Think of use tax like software updates: essential but easy to overlook.🌐 As businesses expand across states, multi-state compliance can get tricky, and use tax is often misunderstood. Many businesses assume that only sales tax applies to transactions. However, use tax plays a critical role in ensuring that all taxable purchases are taxed appropriately, even when sales tax isn’t charged at the point of sale. In my latest blog, I unpack the essentials of use tax for businesses and share common mistakes to avoid. This guide will help you stay compliant and avoid surprises as you grow. #UseTax #TaxCompliance #SaaS #TechFinance

7

I hope to see you next month if you're attending the AICPA #GNP conference. I'll be co-leading two sessions: one on governmental accounting fundamentals, and the other a lightning-round on #governmentalaccounting issues. Kind of like opposite ends of the technical spectrum! #GAAP #GASB #AICPA #accountingstandards

12

Is your business ready for state tax complexities? Dive into our latest article, "Unraveling the Nexus Knot: Why Your Business Can't Afford to Ignore State Tax Connections." Learn how understanding nexus can protect your company from unexpected tax liabilities and ensure compliance. Get the insights you need from Rea & Associates to navigate the nexus maze successfully. Read more here: https://lnkd.in/dbG7Z25C #ReaCPA #StateTax #Nexus #TaxCompliance #BusinessFinance #TaxPlanning #Accounting #TaxStrategy

3

DCAA released a Memorandum for Regional Directors (MRD) dated September 10, 2024 to provide updated guidance on reporting questioned direct costs on incurred cost audits. In alignment with a March 22, 2023 final rule, the MRD indicates that the "Procuring Contracting Officer (PCO) is responsible for negotiating or settling questioned direct costs in an incurred cost audit." The MRD indicates that corresponding updates have been made to DCAA's Contract Audit Manual. The MRD also addresses how auditors should coordinate with the PCO and includes guidance on how questioned direct costs should be summarized. It will be interesting to see if/how this guidance continues to blur the lines of the scope / intent of an incurred cost audit (i.e., audit of indirect rates vs. direct costs). #governmentcontracts #governmentcontractors #governmentcontracting https://bit.ly/3XFGD3r

39

1 Comment

Join CRI's Government and Public Sector advisory team for this live CPE-eligible session focusing on recent developments in state and local governmental accounting and auditing, including: • The Governmental Accounting Standard Board's (GASB) new Statement 102 on risk disclosures • The latest and most notable topics related to Single Audits • The Financial Data Transparent Act (FDTA) and its implications for governments • The accomplishments of the GASB at 40 and what's in store for 2024 Learning Objectives • Understand the new GASB requirements for disclosing risks in notes to financial statements • Recognize changes to the Single Audit and the resulting key challenges • Discern the provisions of the FDTA and how they may affect governments • Learn about the new standards and proposals the GASB has planned for this year Live webinar attendees are eligible for 2 CPE credit hours. For registration information, visit https://cricpa.com/events. #GASB #GovernmentalAccounting #CRIwebinar

2

The IRS plans to triple the audit rates on large corporations with assets of more than $250 million. https://lnkd.in/dmvfM_Db The IRS is tapping Inflation Reduction Act funding to hire more agents and go after more tax cheats. Here's where it is focusing. #irs #audits #tax

2