GASB 72 - FAIR VALUE MEASUREMENT
The Government Accounting Standards Board (GASB) has issued a new pronouncement number 72 that will be effective for fiscal year 2016, with earlier application encouraged. The objective of this statement is to improve financial reporting by clarifying the definition of fair value and providing ad.....
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The Safe Harbor Only Gets Better
This fall, the IRS increased the de minimis safe harbor threshold for expensing asset purchases from $500 to $2,500 for taxpayers without an applicable financial statement (AFS). The threshold for taxpayers with an AFS remains set at a maximum of $5,000 per invoice (or per item as substantiated by t.....
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Federal Grants Uniform Guidance Requirements - Update
As a result of OMB’s Uniform Guidance, there are a number of new requirements applicable to entities that spend $750,000 or more in Federal expenses. This Guidance is applicable to new Federal grants awarded on or after December 26, 2014 and to incremental funding of existing awards made on or aft.....
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Gifting and the IRS: What YOU need to Know
Is the IRS ever on your side? During the Holiday season (or any time of the year), we can enjoy some of the IRS's most favorable tax rules. Giving gifts to family, friends, or distant acquaintances? These are usually tax-free! Giving property or money to your favorite charity in time for Christmas? .....
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Our Kids' Tower of Toys - Benefit Families in Transition, Girls, Inc., and Manchester Families in Need
Once again, Melanson Heath is a proud sponsor of “Our Kids’ Tower of Toys”. Be part of a community effort lead by, Red Arrow Diner, Melanson Heath, and Flexecution to help build the Tower of Toys at the Beacon Building this holiday season. Drop off unwrapped toys any day, at your convenience a.....
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