20 Jun CPA Client Bulletin Select June 2017
CPA Client Bulletin Select
June 2017
What’s Inside
The Third Best Investment You Can Make
Prenups Can Serve Many Purposes
Solo 401(k) Plans for Companies Without Employees
Tax Calendar
Latest News
19 Jun Rodney Chandler, CPA, Elected Chair of GSCPA Board of Directors
Rodney L. Chandler, CPA, partner at Smith, Adcock and Company LLP of Athens, has been elected chair of The Georgia Society of Certified Public Accountants’ (GSCPA) Board of Directors for the 2017-18 fiscal year. Mr. Chandler was selected at the Society’s annual business meeting in Atlantic Beach, Florida.
“Rodney’s commitment to the profession and the Society is admirable,” said GSCPA CEO Boyd Search. “He believes in the importance of mentoring young professionals, professional involvement, and giving back to the community.”
09 Mar CPA Client Bulletin Select March 2017
What’s Inside
Playing Defense as Stock Prices Soar
Holding Down Premiums for Medicare Part B
Safe Harbor 401(k) Plans for Small Companies
Tax Calendar
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23 Feb CPA Client Bulletin Select February 2017
What’s Inside
After-Tax Dollars in Traditional IRAs
“Combo” Products for Long-Term Care Coverage
Defined Benefit Plans for (Very) Small Companies
Tax Calendar
23 Feb HOW TO COMPUTE PERCENTAGE-OF-COMPLETION for Your Tax Return
As most CFMs know, the PCM calculation is a ratio of two figures: The numerator is the cost incurred on a contract and the denominator is the total estimated cost on that contract. (This is the cost-to-cost method.) Then, that ratio is multiplied by the contract amount to derive the revenue to be recognized.
Revenue recognition is not dependent on, or related to, billings – even though the next step is the comparison of the computed revenue to billings. That comparison is only to adjust the booked revenue based on billings to the PCM-computed revenue. (more…)
23 Jan Citation and Resource Guide 2017
Be Cautious With Hard-to-Value IRAs ■ The IRS lists examples of traditional IRA assets not having a readily available fair market value in the Instructions For Forms 5498 and 1099-R, p. 17, at www.irs.gov/pub/irs-pdf/i1099r.pdf. The “Other” Exchange-Traded Funds ■ The U.S. Securities And Exchange Commission provides information about closed-end funds at www.sec.gov/answers/mfclose.htm. Profit Sharing Plans for Your Small Business ■ The U.S. Department of Labor spells out the rules for profit-sharing plans in its publication, Choosing A Retirement Solution For Your Small Business, p. 2, at www.dol.gov/sites/default/files/ebsa/about-ebsa/our-activities/resource-center/publications/choosing.pdf.