Blogs

What is Tax Code 179

By William Butler posted 21 days ago
Be the first person to recommend this.
What is tax code 179? Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and software purchased or financed during the tax year. That means that if you finance or lease a piece of equipment, you can deduct the FULL PURCHASE PRICE from your gross income. Who Qualifies for Section 179? Businesses that purchase, finance, or lease new or used business equipment during the tax year should qualify for the Section 179 Deduction (assuming they spend less than $3,630,000). Advantage of Tax Code 179 The main Advantage of Financing or leasing equipment is that you can deduct the full amount ...
0 comments

Streamlined Small Business Bankruptcies

By Michael King posted 01-21-2021
Be the first person to recommend this.
QUESTION:     WILL THE DEADLINES SET BY THE SMALL BUSINESS REORGANIZATION ACT OF 2019 ACTUALLY SPEED UP SMALL BUSINESS BANKRUPTCIES? ANSWER:        SMALL BUSINESS REORGANIZATIONS WILL ONLY BE FASTER IF THE DEADLINES ARE ENFORCED! Other than sunrise and sunset, few deadlines are self-enforcing! The mandatory expedited deadlines in the Small Business Reorganization Act won’t speed up cases unless judges enforce them.  If the Standing Trustees and the creditors actively urge courts to enforce the rules, there is a chance that small business reorganizations will be timely completed. What are the basics of the new Subchapter ...
0 comments

The Small Business Reorganization Act: Blessing or Curse?

By Michael King posted 12-04-2020
Be the first person to recommend this.
QUESTION:  SHOULD I WORRY ABOUT THE SMALL BUSINESS REORGANIZATION ACT OF 2019? ANSWER:  CREDITORS SHOULD BEWARE OF SIGNIFICANT NEW PROTECTIONS BEING GIVEN DEBTORS UNDER THE SMALL BUSINESS REORGANIZATION ACT! The History of Small Business Bankruptcies. In October 2005, I wrote: The costs of a Chapter 11 bankruptcy reorganization are often more than a small business debtor can handle.  Statistics show that many small business Chapter 11 reorganization proceedings eventually become Chapter 7 liquidation proceedings.  Congress wanted to help small business debtors move through the bankruptcy process more swiftly and so it created the concept of the ...
0 comments

Microsoft Teams Tips, Tricks & Best Practices

By Carol Hagen posted 10-21-2020
Be the first person to recommend this.
Our CFMA (Valley of the Sun) webinar on Teams Zoom & Skype has passed and while we had almost a dozen members attend, Microsoft Teams seems to be the clear winner.  To that end I thought you’d all benefit from a few Microsoft Teams recommendations, tricks & tips.  Hope you all put this to good use! How to turn off notifications : https://www.onmsft.com/how-to/how-to-manage-notifications-in-microsoft-teams-and-not-get-annoyed If you ever need to open two channels in the same account at the same time , this “How to run multiple instances of Microsoft Teams with two different accounts” is awesome!  https://www.onmsft.com/how-to/how-to-run-multiple-instances-of-microsoft-teams-with-two-different-accounts ...
0 comments

Microsoft Teams Tips, Tricks Best Practices

By Carol Hagen posted 10-21-2020
Be the first person to recommend this.
Our CFMA (Valley of the Sun) webinar on Teams Zoom & Skype has passed and while we had almost a dozen members attend, Microsoft Teams seems to be the clear winner.  To that end I thought you’d all benefit from a few Microsoft Teams recommendations, tricks & tips.  Hope you all put this to good use! How to turn off notifications : https://www.onmsft.com/how-to/how-to-manage-notifications-in-microsoft-teams-and-not-get-annoyed If you ever need to open two channels in the same account at the same time , this “How to run multiple instances of Microsoft Teams with two different accounts” is awesome!  https://www.onmsft.com/how-to/how-to-run-multiple-instances-of-microsoft-teams-with-two-different-accounts ...
0 comments

Construction Company looking for strong Staff Accountant

By Anthony DiFerdinando, Jr. posted 10-07-2020
Be the first person to recommend this.
To All: Construction company located inside the DC beltway looking for a strong staff accountant with 2-5 years of GL experience.  Great place to work.  Immediate opening. Please forward resume to tdiferdinando@gmail.com Thank you in advance for your efforts. Tony
0 comments

Quick Survey - Payroll

By John Barbee posted 07-08-2020
Be the first person to recommend this.
How many companies control or process payroll through the accounting department and how many companies control or process payroll through the human resources department? To encourage responses, just type Accounting or HR" Thank you very much.     John R. Barbee Vice-President of Accounting and Controller O: 704.897.2297 E: jbarbee@hep-petra.com W:   www.hep-petra.com 11330 Vanstory Drive, Suite 101 Huntersville, NC 28078
0 comments

Note From Your CFMA Chapter President!

By Joel Van Egdom posted 07-06-2020
Be the first person to recommend this.
Greetings, Siouxland Chapter of CFMA! I’m hoping everyone had an enjoyable 4 th of July! With the arrival of July we have heat and humidity continuing in the Midwest and local baseball seasons in full swing. Over the first number of days of July, we have also seen COVID-19 case trends increasing in areas across the United States, and we ask that you continue to keep those impacted in your thoughts and prayers as individuals and businesses have been significantly impacted both in our local communities and around the world. Many months have flown by since our local chapter last had the opportunity to meet in person. On April 1, we transitioned to a new CFMA ...
0 comments

CAN FACEBOOK USE FACIAL-RECOGNITION TECHNOLOGY ON MY PHOTOGRAPH TO MATCH IT WITH OTHER PICTURES?

By Michael King posted 02-14-2020
Be the first person to recommend this.
ANSWER:   FACEBOOK USES FACIAL-RECOGNITION TECHNOLOGY TO MATCH FACES, BUT IT MAY NOT BE LEGAL UNDER ILLINOIS STATUTE. Expensive privacy violation on social media? Some citizens of Illinois brought a class-action lawsuit against Facebook claiming somewhere around $35 billion for privacy violations!  Patel v. Facebook, Inc. , 932 F.3d 1264 (9 th Cir., 2019).  (The plaintiffs apparently don't understand that "private" and "social" are antonyms.) The Ninth Circuit said that Facebook runs one of the biggest social media platforms in the world and has over 1 billion active users.  About seven out of ten adults in the U.S. use Facebook.  (Our household ...
0 comments

Punishing Foreigners for Corrupt Practices

By Michael King posted 12-16-2019
Be the first person to recommend this.
Q:  HOW FAR DOES THE U.S. FOREIGN CORRUPT PRACTICES ACT REACH? A  THE U.S. DEPARTMENT OF JUSTICE ENFORCES THE FOREIGN CORRUPT PRACTICES ACT IN "EVERY CORNER OF THE GLOBE!" But I work for a foreign company, I am not a U.S. citizen and I never set foot in the United States?! In November, 2019, Lawrence Hoskins was convicted of six counts of violating the Foreign Corrupt Practices Act, three counts of money laundering and two counts of conspiracy in a U.S. District Court in Connecticut. Mr. Hoskins is a citizen of the United Kingdom and was working for a French company.  He was never physically present in the ...
0 comments

HR Meets E-Sign

By Michael King posted 11-14-2019
Be the first person to recommend this.
QUESTION: CAN I MAKE OUR EMPLOYMENT AGREEMENTS ELECTRONIC? ANSWER: YES, BUT YOU NEED TO PROVE THAT THE EMPLOYEE ACTUALLY AGREED TO THE ELECTRONIC TRANSACTION. Can I sandwich an arbitration agreement in an electronic employment contract? Jaime Odom worked for Which Wich Superior Sandwiches as a marketing manager. She had a beef with the sandwich shops. She sued claiming that she was sexually harassed at the job, retaliated against for complaining about the harassment, and not paid her full wages. Which Wich said Jaime had to arbitrate the dispute because she had electronically signed an arbitration agreement as part of the employment ...
0 comments

Beyond Pen and Paper...Digital Contracts

By Michael King posted 10-23-2019
Be the first person to recommend this.
WHY ARE COMPANIES STILL STRUGGLING WITH ELECTRONIC TRANSACTIONS 20 YEARS AFTER THE LAWS SAID THEY                               ARE VALID? ANSWER:   PEOPLE HAVE DIFFICULTY UNLEARNING THOUSANDS OF YEARS OF RELIANCE ON HAND-WRITTEN SIGNATURES.   The laws of electronic signatures and e-transactions. The Electronic Signatures in Global and National Commerce Act ("E-SIGN Act") became the law of the United States on June 30, 2000. The Uniform Electronic Transactions Act ("UETA") was released by the Uniform Law Commission in 1999 and enacted in Arizona in 2000. The E-SIGN Act allows the use of electronic records to satisfy any statute, regulation, ...
0 comments

Controller Needed

By Jillane Brown posted 10-22-2019
Be the first person to recommend this.
Controller for Heavy Highway contractor specializing in concrete maintenance in Selma, NC needed. We are a 30+ year old business that acts as a GC and subcontractor. Construction Controller CPA Preferred 7 + Yrs. Experience Minimum The Controller is responsible for all areas relating to financial reporting. This position will be responsible for developing and maintaining accounting principles, practices and procedures to ensure accurate and timely financial statements. The Controller will use their prior construction cost accounting experience to analyze cost records to ascertain distribution of costs for service agreements, design and construction ...
0 comments

$5M in Overtime for Want of a Comma

By Michael King posted 08-30-2019
Be the first person to recommend this.
QUESTION:    C'MON! IT'S ONLY A COMMA!!!???   ANSWER:      A MISSING COMMA COST ONE COMPANY FIVE MILLION DOLLARS!   Oakhurst Dairy had to pay its delivery drivers five million dollars to settle a wage and hour dispute about overtime pay all because of a missing comma! O'Connor v. Oakhurst Dairy, 851 F.3d 69 (1 st Cir. 2017). What does punctuation have to do with an employment dispute? "For want of a comma, we have this case." That is how the court started its opinion concerning a dispute between a Maine dairy company and the dairy delivery drivers. The case involved the scope of an exemption from Maine's overtime law. The court continued: ...
0 comments

Criminal Penalties for FLSA Violations?

By Michael King posted 08-06-2019
Be the first person to recommend this.
QUESTION:    I THOUGHT THAT ONLY THE COMPANY COULD BE PENALIZED FOR FAIR LABOR STANDARDS ACT VIOLATIO NS? ANSWER:       WHEN A TEXAS ROPE COMPANY GOT TIED UP WITH THE DEPARTMENT OF LABOR, THE OWNER, PLANT MANAGER AND OFFICE MANAGER WENT TO JAIL!   Numerous federal laws include civil liability for individuals who fail to comply with the laws. Some federal laws even provide for individual criminal liability for company owners and managers. Don’t let the boss rope you into breaking the law! The U.S. Attorney’s office charged that High Performance Ropes of America, Inc. did not pay overtime compensation, back wages, employment benefits, and other ...
0 comments

June Meeting & Industry Builder Golf Event

By Joel Van Egdom posted 07-06-2019
Be the first person to recommend this.
On June 19 our Siouxland Chapter had our quarterly meeting at the clubhouse of Prairie Green Golf Course in Sioux Falls. We welcomed Jason Gusso, one of the chapter's founding members, to speak on "Surety Bond Underwriting - It's an Art. Not a Science." Jason covered the topic well and responded to numerous questions from the attendees. He discussed what a bond provides, types of bonds, the steps of underwriting, and a surety's options in a claim situation. Jeff Pray, also a member of the Siouxland Chapter, then spoke on insurance products, covering in particular the lines of directors & officers liability, crime insurance, and pollution insurance. This presentation ...
0 comments

First Ever Siouxland Chapter Meeting in Sioux City a Great Success!

By Joel Van Egdom posted 05-02-2019
Be the first person to recommend this.
For those of you that missed April's CFMA meeting in Sioux City, you missed our first ever meeting in Sioux City...and it was a good one! Many of the attendees completed our post meeting survey and the results averaged an 4.75 on a scale of 1 - 5!  A special thank you to Renee and Thompson Electric for being outstanding hosts!   Here is a brief overview of the meeting and some of the key notes from a couple of our speakers. We started our meeting with some introductions, followed by speakers Loren VenHuizen, Sean Mayer, and Patrick Fay. Loren VenHuizen, partner and B2BCFO, challenged attendees and demonstrated that the "three day close" is, in fact, possible.  ...
0 comments

Note from Your CFMA Siouxland Chapter President!

By Joel Van Egdom posted 03-26-2019
Be the first person to recommend this.
Greetings, I’m hoping that everyone is in good spirits as the weather has warmed up and it has started to feel a little bit more like spring! As the rivers are expected to crest today and tomorrow – I hope that all our members have been able to stay dry and haven’t been seriously impacted by the flood waters. Please continue to keep those impacted in your thoughts and prayers, as many people, business and farms throughout the Midwest are still responding to the devastating implications of rising flood waters. It isn’t new news that unemployment remains low and hiring skilled employees continues to be a challenge to many employers. More important than hiring ...
0 comments

3rd Party Crystal Report/SSRS Report Developer - Viewpoint Construction Clients

By Lisa Kahler posted 03-26-2019
1 person recommends this.
​We are a custom report developer for Viewpoint Construction clients - specializing in Crystal Reports and SSRS.  Please reach out to us for your custom report needs! LisaKahler@ccegroupinc.com CCE Group, Inc
0 comments

3rd Party Crystal Report/SSRS for Viewpoint Contractor

By Lisa Kahler posted 03-26-2019
Be the first person to recommend this.
Greetings~ We are a 3rd Party Crystal Report ​& SSRS report developer specializing in Viewpoint Construction clients.  We work with all sizes of companies. If you have custom report development needs, please reach out to us:  lisakahler@ccegroupinc.com
0 comments