Congress passes tax extenders including bonus depreciation and more
Congress has approved the Tax Increase Prevention Act of 2014 (HR 5771). The new law extends so-called "tax extenders" retroactively for one year (through 2014). It also includes the Achieving a Better Life Experience (ABLE) Act, creating tax-favored savings accounts for individuals with disabilitie.....
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GFOA Issues Best Practice
Actuarial Audits The Government Finance Officers Association (GFOA) has recently issued a GFOA Best Practice entitled Actuarial Audits approved by the Executive Board.  The GFOA believes that due diligence requires that pension plan fiduciaries and plan sponsors exercise prudence in selecting serv.....
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IRS Increases contribution limits on 401(k) and other plans
The IRS has announced Cost-of-living adjustments (COLAs) that will favorably affect certain dollar limitations and other retirement-related provisions for most 401(k), 403(b), 457, and Pension Plans.  In general, the limitations will change beginning in 2015. For 2015, the employee contribution .....
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Accounts Receivable Fraud: Lapping Up Profits
The sale has been made, the customer has paid, yet the company receives no revenue. How can this happen? How Fraud is Often Reported Most fraud cases are uncovered by a tip or complaint from an employee or other source, according to a 2014 study done by the Association of Cert.....
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Frank Biron Speaks at PERAC's Annual Emerging Issues Forum
Frank R. Biron, CPA a Managing Shareholder at Melanson Heath was a guest speaker at the September 18, 2014 Annual Emerging Issues Forum of the Public Employees Retirement Administration Commission (PERAC).  Frank's session was shared with Linda Bournival, an actuary from KMS Actuaries. Their pre.....
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