Blog, News, & Events

New Standard Aims to Improve Not-for-Profit Financial Reporting

ASU 2016-14 Replaces the Reporting Model That Has Existed for 20 Years by AICPA Not-for-Profit Section Published August 18, 2016 After more than three years of debate, comment, and revision, the Financial Accounting Standards Board’s (FASB) much-anticipated Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, was released on August 18, 2016. The […]

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Posted in: News

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New Guidance from the Department of Justice on Protecting Religious Liberty in the USA

In a pair of memos initiated by U.S. Attorney General Jeff Sessions, the Department of Justice (DOJ) recently issued extensive new guidance on protecting religious liberty in the United States. The first memo directed to all federal executive departments and agencies lays out 20 guiding principles which these administrative agencies and executive departments will now […]

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Wisconsin Federal District Court Rules Minister’s Housing Allowance Unconstitutional

This decision does not come as a surprise as the same judge issued a similar ruling back in 2013, though the case was later dismissed by a higher appeals court on the technical grounds of standing. In her latest ruling, Judge Barbara Crabb indicated that she “…adhere(s) to my earlier conclusion that [the minister’s housing […]

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Posted in: Bits & Pieces

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Understanding Employee vs. Contractor Designation

The IRS recently issued an updated fact sheet reminding employers of the importance of correctly classifying workers for purposes of employment taxes. Generally, employers must withhold income taxes, withhold and pay social security and Medicare taxes, and pay unemployment tax on wages paid to employees. Whether a worker is an employee or an independent contractor […]

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Posted in: Employment Law

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