The CPA Desk

A Thought Leader Production by PKFTexas

Directors and officers (D&O) liability insurance enables board members to make decisions without fear that they’ll be personally responsible for any related litigation costs. Such coverage is common in the business world, but fewer not-for-profits carry it. Not-for-profits may assume that their charitable mission and the good intentions of volunteer board members protect them from litigation. These assumptions can be wrong. Here are several FAQs to help you determine whether your board needs D&O insurance: …
https://youtu.be/opFQMNrkPLc Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Frank Landreneau, one of our International Tax Directors. Frank, welcome back to The Playbook. Frank: Thanks, Jen. It’s great to be back. Jen: I know there’s an incentive for exporters: IC-DISC. How has that changed with tax reform? Frank: That’s a good question. It’s been around for quite a while, as you know, the IC-DISC is nothing…
Restricted gifts — or donations with conditions attached — can be difficult for not-for-profits to manage. Unlike unrestricted gifts, these donations can’t be poured into your general operating fund and be used where they’re most needed. Instead, restricted gifts generally are designated to fund a specific program or initiative, such as a building or scholarship fund. It’s not only unethical, but dangerous, not to comply with a donor’s restrictions. If donors learn you’ve ignored their…
The Greater Houston Partnership’s next Houston Young Professionals and Entrepreneurs (HYPE) event, “Explore Your Passion,” is coming up on February 20, 2019. The event, sponsored by PKF Texas, is designed PechaKucha style where young professionals can meet, talk and interact with various not-for-profit and volunteer organizations. Young professionals will have the opportunity to network and find their purpose to make a difference in Houston – whether it’s in youth development, education, health, social services, crisis…
When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes to personal exemptions, standard deductions and the child credit. The degree to which these changes will affect you depends on whether you have dependents and, if so, how many. It also…
https://youtu.be/3OnEtRxped8 Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Kimberly Wood, an Audit Senior Manager and one of the faces of the PKF Texas Transaction Advisory Services Team. Kimberly, welcome back to The Playbook. Kimberly: Thanks for having me. Jen: Last time you gave us an overview of the due diligence process. What are some ways to facilitate due diligence? Kimberly: There are five key ways…
The results are in! The report of the third annual National Manufacturing Outlook and Insights Survey with Leading Edge Alliance (LEA Global) has been published and released. The survey was conducted in association with leading accounting firms across the country, and the report benefits our clients as part of our ongoing efforts to help co-develop the client experience with us as trusted advisors. Over 350 manufacturers participated in this year’s survey, providing their expectations, predictions…
It was a full house at the PKF Texas office for the first official seminar of the year! We partnered with the Houston chapter of Financial Executives International (FEI) for this joint seminar. Titled, “What’s Happening in the State of Capital Flow?,” the seminar hosted a panel of three speakers, moderated by PKF Texas Audit Director, Chip Schweiger, CPA, CGMA. Chip filled the hour with a compelling discussion between: Michelle Lewis, Principal at CapStreet Sammy…