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Our Insights

Our Insights

Our Partners & Staff write about governmental & nonprofit services, employee benefit plan audits & schools. We share our insights with our blog  articles and white papers.

Make sure you check out our blog and white papers on a regular basis. They’re guaranteed to stimulate and challenge you!

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Six Challenges Nonprofit Executives Are Facing

Six Challenges Nonprofit Executives Are Facing By Steven N. Kutsuflakis, CPA Nonprofits have made headlines concerning challenges brought on by new federal rules on overtime pay, deferred compensation and new accounting standards for charities. Keeping up compliance with the various…

Understanding the Changes to Unrelated Business Income

Understanding the Changes to Unrelated Business Income By Jeffrey A. Kowalczyk, CPA, CFE, CGAP While most nonprofits are tax exempt, that doesn’t mean they won’t pay business income tax.  When nonprofits generate income from unrelated activities, the activities can be…

Managing Partner’s Message – April 2018

Managing Partner’s Message -April 2018 Spring has finally arrived both within and beyond the borders of our firm. Internally, we marked the passing of another Department of Community and Economic Development (DCED) deadline for audit reports as well as the…

Comment on the Governmental Accounting Standards Board’s (GASB) Revenue and Expense Recognition Project, No. 4-6I

Barbacane, Thornton & Company LLP 200 Springer Building 3411 Silverside Road Wilmington, Delaware 19810 T 302.478.8940 F 302.468.4001 www.btcpa.com April 24, 2018 Via electronic mail Governmental Accounting Standards Board 401 Merritt 7 PO Box 5116 Norwalk, CT 06856-5116 RE: Revenue…

Auditors Need to Be Up to Speed on Local Politics

The auditing profession has gotten used to the need to adjust due to rapidly changing regulations and standards. One factor, though, that may not immediately jump to mind as an issue to monitor is the impact of local politics. In…

The PPC Governmental Update – March 2018

Tax Cuts and Jobs Act Impact on State and Local Governments The recently signed Tax Cuts and Jobs Act of 2077 brings about many changes to the rules on taxation of individual taxpayers for tax years through 2025, including establishing…

Revised Financial Reporting Requirements for Charitable Organizations Now Law

This is a wonderful article by Peter Calcara, Vice President, government relations of the PICPA. On Dec. 22, 2017, Gov. Tom Wolf signed into law much needed changes to the Pennsylvania Solicitation of Funds for Charitable Purposes Act, which has…

Podcast: E-filing Now Mandatory for Municipal Authority and Authority Nonprofit Reports

The Pennsylvania Department of Community and Economic Development (DCED) now requires municipal authorities and authority nonprofits to file their annual reports online. Karen O’Neill, local government policy specialist with the DCED, provides more details on the entities this impacts and…

What Tax Change Proposals Could Mean for Annual Giving

What Tax Change Proposals Could Mean for Annual Giving by Jeffrey A. Kowalczyk, CPA, CFE, CGAP Since its debut nearly a century ago, the charitable deduction has fluctuated with ever-changing tax plans. Now, in the year of its 100th anniversary,…

Prepare for a Successful Audit Experience

Prepare for a Successful Audit Experience by Edmund Fosu-Laryea, CPA Audits may at times be time consuming, intrusive and stressful as you often have auditors come in for a week or two and disrupt your regular flow of work. However,…