2019 ESOP Roundtable Schedule

We are proud to host ESOP Roundtable events for ESOP companies and those companies who are exploring the ESOP opportunity. As you might expect, the ESOP Roundtable agenda is member-driven and provides a place to share experiences, questions, best practices, lessons learned and successes.

In order to provide a focused peer group experience, the roundtables are open to members only. If you are interested in becoming a member, please Contact Us.

EVANSVILLE
11:30 a.m. – 1:30 p.m. CT on March 19
11:30 a.m. – 1:30 p.m. CT on July 9
11:30 a.m. – 1:30 p.m. CT on November 19

LOUISVILLE
11:30 a.m. – 1:30 p.m. ET on March 20
11:30 a.m. – 1:30 p.m. ET on July 9
11:30 a.m. – 1:30 p.m. ET on November 20

Are you Ready? Take Our Revenue Recognition Implementation Crash Course!

ASC 606 Revenue Recognition Standards Implementation Crash CoursesASC 606, Revenue from Contracts with Customers replaces almost all pre-existing revenue recognition guidance for how an entity should account for its revenue. The new standard impacts nearly all companies with GAAP financial statements. Join us at one of our Revenue Recognition Implementation Crash Courses.

Companies must comply in 2019!

Implementation and compliance is proving to be more challenging than most have expected. Given the urgent need for compliance with ASC 606, we are offering two courses to assist companies with their implementation strategies. The crash course will include basic education on key areas of the standard and roundtable discussions on implementation best practices.

What will be discussed?

We will explore topics including, but not limited to, the following:

  • Dos and Don’ts.
  • Start with End in Mind/Building Your Timeline.
  • Important Decisions/Key Concepts.
  • Policies, Procedures, and Sustainability.

Who should attend?

Those with the responsibility of implementing Revenue Recognition in their companies.

  • Chief Financial Officers.
  • Controllers.
  • Vice Presidents of Finance.

Revenue Recognition Implementation Crash Courses

These programs qualify for Accounting & Auditing CPE for CPA’s.

One-day Implementation Crash Course
Louisville, KY
Wednesday, February 20, 2019
9:00 a.m. – 4:00 p.m. (ET)
Cocktail hour immediately following
The Madrid Conference Center
545 S Third Street, Louisville Kentucky
Registration is required at link below.
http://bit.ly/2019-1DAYREVRECEV
Evansville, IN
Tuesday, February 26, 2019
9:00 a.m. – 4:00 p.m. (CT)
Cocktail hour immediately following
Southwest Indiana Chamber
318 Main Street, Suite 401, Evansville, Indiana
Registration is required at link below.
http://bit.ly/2019-1DAYREVRECEV
Four-part Implementation Crash Course
Louisville, KY
11:00 a.m. – 1:00 p.m. (ET)
April 23, May 1, May 14, June 4, 2019
The Madrid Conference Center
545 S Third Street, Louisville Kentucky
Registration is required at link below.
http://bit.ly/2019REVRECRT3LV
Evansville, IN
8:00 a.m. – 10:00 a.m. (CT)
April 24, May 2, May 15, June 5, 2019
Harding, Shymanski & Company, P.S.C.
Lower Level Conference Room
21 SE Third Street, Evansville, Indiana
Registration is required at link below.
http://bit.ly/2019REVRECRT3EV

Cost:

HSC Clients: Free
Future clients: $250 per participant

 

IRS Issues Guidance on Parking Fringe Benefit Expenses

The Tax Cuts and Jobs Act included a change to preclude employers from deducting qualified transportation fringe benefit expenses, including qualified parking, paid or incurred after December 31, 2017.

Yesterday, the Internal Revenue Service (IRS) issued  interim guidance regarding the treatment of these fringe benefit expenses paid or incurred after Dec. 31, 2017. The guidance will help taxpayers determine the portion of parking that is nondeductible.  The guidance also helps tax-exempt organizations determine how these nondeductible parking expenses create or increase unrelated business taxable income (UBTI) for not-for-profit organizations.  In some cases, the organization may avoid having to file a Form 990-T, Exempt Organization Business Income Tax Return, altogether.

The guidance issued by the IRS includes examples for employers with third party contracts as well as employers who own or lease the parking lot, including a four-step reasonable method for completing the calculation.  The IRS acknowledges that this guidance falls late in the year and taxpayers that own or lease parking facilities may have already adopted reasonable methods in 2018 to determine the amount of their nondeductible parking expenses. Taxpayers may rely on the guidance or use any reasonable method for determining nondeductible parking expenses related to employer-provided parking until further guidance is issued.

A key part of this guidance is a special rule, enabling many employers to retroactively reduce the amount of their nondeductible parking expenses. Under this rule, employers will have until March 31, 2019, to change their parking arrangements to reduce or eliminate the number of parking spots they reserve for their employees. Such a change made in parking arrangements will apply retroactively to Jan. 1, 2018.  By making this change, many churches, schools, hospitals and other tax-exempt organizations may be able to reduce their associated UBTI.

The IRS also announced yesterday that it will provide estimated tax penalty relief  in 2018 to tax-exempt organizations that offer these benefits and were not required to file a Form 990-T last filing season. Additionally, some tax-exempt organizations will not exceed the $1,000 threshold below which an organization is not required to file a Form 990-T or pay the unrelated business income tax.

For additional information, contact Michael Vogel, CPA or John Rittichier, CPA.

New Standards for Nonprofits Seminar

New standards will change nonprofit financial statements and 990s. More importantly, these new standards will impact how users “read” financial statements and will expand required disclosures within the financial statements. Additionally, these new rules could change when revenue is recognized.

Join us to ensure that your organization is ready for these changes.

Choose a location and register today! Continue reading “New Standards for Nonprofits Seminar”

2018-2019 Tax Planning Guide

With most of the Tax Cuts and Jobs Act (TCJA) going into effect this year, taxpayers will navigate the most sweeping tax legislation changes since the Tax Reform Act of 1986. Each year we offer a Tax Planning Guide to assist with end of year planning which is perhaps even more important today. This guide provides and overview of the most consequential changes under the TCJA and other key tax provisions. It offers a variety of strategies for minimizing your taxes in the new tax environment.

It will be particularly important to work closely with your tax advisor this year. He or she can help you identify which changes affect you and the best strategies for maximizing the new tax law’s benefits and minimizing any negative tax ramifications. Should new tax legislation be signed into law or new guidance be issued from the IRS, our tax advisors can guide you through the implications of those changes.

 

 

 

 

TSMA Q4 Event: Trends, Tariffs, and Trade

On October 29th, the Tri-State Manufacturers’ Alliance (TSMA) will host its 4th quarter event at DoubleTree by Hilton in downtown Evansville, IN. Steve Menaker, CPA and Audit Partners at RSM US LLP, will share insights on trends in manufacturing, including the digital transformation and labor market, as well as the impact of tariffs and trade wars on domestic and international manufacturing. Continue reading “TSMA Q4 Event: Trends, Tariffs, and Trade”

Tax Update Seminar: Tax Implications of The Wayfair Decision

Please join us as we discuss the Tax Implications of the Wayfair Decision and State Law Changes at our Tax Update Event. We will cover the sales tax impact of the Supreme Court decision in South Dakota v. Wayfair, Inc., on businesses across all industries. We will discuss state responses to the Wayfair case and how businesses can comply with new state regulations.

We will also discuss other state law changes related to income tax, nexus, and compliance, including the recent changes to Kentucky tax law.

Choose a location and register today! Continue reading “Tax Update Seminar: Tax Implications of The Wayfair Decision”

South Dakota vs. Wayfair: Final Decision

The U.S. Supreme Court has issued its highly anticipated decision in South Dakota v. Wayfair, paving the way for states to impose economic sales tax nexus standards on remote retailers.

The decision overrules the previous Supreme Court ruling in Quill v. North Dakota which required a physical presence sales tax nexus standard. This decision will have significant implications for almost all industries, but especially consumer products (retailers) and industrial products.

Continue reading “South Dakota vs. Wayfair: Final Decision”

2018 Ohio Valley Construction Market Outlook Forum Featuring Gregg Shoppman

The results are in from the 2018 Ohio Valley Construction Market Outlook Survey. For the third consecutive year, Harding, Shymanski & Company, P.S.C. surveyed construction industry executives in the Ohio Valley Region in order to capture industry benchmarks, identify best practices and discover emerging trends. Continue reading “2018 Ohio Valley Construction Market Outlook Forum Featuring Gregg Shoppman”