MAWC Acquires Lawrence P. Lemieux & Associates; New Firm Name is AO & Company Shelton, CT, January 2, 2020 — The full-service accounting firm MAWC, LLC — with offices in Killingworth and Shelton — has announced the acquisition of Lawrence P. Lemieux & Associates, LLC, effective January 1, 2020. The combined firm is now…
DetailsHas your organization received any public or private grants to fund its growth? Grants sometimes require an independent audit by a qualified accounting firm. Here’s what grant recipients should know to help facilitate matters and ensure compliance at all levels. Federal compliance Federal awards require compliance with the Uniform Administrative Requirements, Cost Principles, and…
DetailsNot-for-profits with multiple sources of support generally are less likely to have budget shortfalls and are better able to grow and expand their services. If you’re looking for new funding sources, consider cause marketing. Made possible via a partnership with a for-profit business, cause marketing can boost your budget, your public profile and even…
DetailsMost not-for-profit board members are unpaid volunteers. They’ve agreed to serve because they care about your mission and the impact your organization is making. You owe it to them to make the job as easy as possible — starting with well-organized board meetings that are only as long as necessary. Setting the agenda The key…
DetailsYour CPA offers a wide menu of services. An audit is a familiar type of attestation service that provides a formal opinion about whether the company’s financial statements conform to U.S. Generally Accepted Accounting Principles (GAAP). Consulting services, in contrast, provide advice or technical assistance that’s only for internal purposes. That is, lenders and other…
DetailsIf you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties report the transaction to the IRS in the same way. Otherwise, you may increase your chances of being audited. If a sale involves business assets (as opposed to stock or…
DetailsThe Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under prior law, profitable C corporations paid up to 35%. The TCJA also cut individual income tax rates, which apply to sole proprietorships and pass-through entities,…
DetailsBusinesses use two types of audits to gauge financial results: internal and external. Here’s a closer look at how they measure up. Focus Internal auditors go beyond traditional financial reporting. They focus on a company’s internal controls, accounting processes and ability to mitigate risk. Internal auditors also evaluate whether the company’s activities comply with its…
DetailsThe Securities and Exchange Commission (SEC) doesn’t monitor just publicly traded companies. It also looks at the dealings of some private companies, often to the surprise of their owners and executives. Reasons for SEC scrutiny The SEC’s mission is to protect the public as well as the integrity of the financial markets. That mission extends…
Details
