Thought Leadership
When it comes to thought leadership and staying informed, we’ve got you covered. See below for recent articles, webinars, and downloadable resources available.
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August 30, 2017
In 1992, the U.S. Supreme Court case of Quill vs. North Dakota established the precedent that a state could not require a company to collect and remit sales tax without a physical presence within that state. However, internet and other remote sales that were in their infancy in 1992 have grown into a $400 Billion […]
August 30, 2017
Beginning in the calendar year 2018, and fiscal years ending in 2019, nonprofit organizations will be required to present expenses both by their functional and natural classification, in a manner similar to a statement of functional expenses. While the standard does not specifically require a statement of functional expenses, the language in ASC 958-720-45-15 is […]
August 21, 2017
by Larry Steinberg, Senior Manager The Financial Accounting Standards Board is presently considering adoption of new rules regarding classification of debt, and these new rules could have a significant impact on a contractor’s balance sheet and state licensing. Under current rules, debt may be classified as long-term if it (a) has a stated maturity of […]
August 09, 2017
On August 18, 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards update (ASU) No. 2016-14 Presentation of Financial Statements of Not-for-Profit (NFP) Entities. This update is meant to simplify and improve how a NFP organization classifies its net assets, as well as the information it presents in the financial statements and notes […]
August 07, 2017
Are you a contractor that accounts for equipment costs? Are these costs charged to jobs? For equipment-intensive contractors, these are very important questions. If you do account for equipment costs, another question arises: Do you charge the equipment costs to jobs using hourly rates or daily rates? Hourly Rates Generally, hourly rates take into consideration […]
July 28, 2017
Many people think of back-to-school season as a costly affair (new school supplies, clothing, etc.) without considering the opportunities it provides for tax savings and investments. Here are some federal and state income tax advantages related to education expenses that we believe all taxpayers should understand. Lifetime Learning Credit (LLC) Expenses that qualify for this […]
July 20, 2017
Kentucky sales tax applies to retail sales of tangible personal property, as well as the provision of specified services. However, as is the case with most things in the tax world, there are exceptions to the general rule. Taking advantage of these exceptions can save a company considerable amounts of money. Supplies, Tools, and Materials […]
July 05, 2017
by Ashley Jones, CPA, Manager Following the headlines from any news source these days, it seems that cyber security is just about always trending. While this is not a new topic, with attacks becoming more common, cyber security is something every organization should be seriously addressing. Not-for-profits need to be prepared as much as any […]
June 23, 2017
by Jessica Hidalgo, CPA, Senior Accountant You said, “I do”, and while the honeymoon may be over, as newlyweds you can make the wedded bliss last a little longer by doing a few things now to avoid problems during next tax season. Update your name and address. To avoid confusion when filing your 2017 tax […]
June 19, 2017
by Nancy Kirchner, CPA, Manager Federal law allows nonprofit organizations to engage in a certain amount of income-producing activity that is not related to its exempt purpose. However, the IRS has recently concluded that many exempt organizations are underreporting this activity, and consequently, it is increasing its focus on the unrelated business activities of nonprofit […]
June 15, 2017
Many people are aware that you can utilize an IRC Sec. 1031 (“like-kind”) exchange to defer gain on a real estate transaction, but an often-overlooked planning opportunity is to utilize a like-kind exchange when selling your construction equipment. By deferring the taxable gain on the transaction, as well as the related tax, you have the ability […]
June 07, 2017
Intermediate sanctions legislation was passed in 1996; however, in recent years, the Internal Revenue Service (IRS) has renewed its focus on enforcement of the private inurement rule as it relates to relevant not-for-profit (NFP) organizations: 501(c)(3), 501(c)(4), and 501(c)(29) organizations that are tax-exempt under section 501(a). Specifically, the IRS is looking for whether tax-exempt organizations […]
May 30, 2017
Owning a vacation home can be a wonderful accommodation for your family, as can renting your vacation home when you’re not there. With vacation season in full swing, now is a good time to revisit the tax rules associated with the rental of a vacation home. The tax treatment depends on how many days it’s […]
May 27, 2017
WannaCry (aka WannaCrypt) is the latest ransomware (a type of malware or malicious program) that encrypts files on workstations (laptops/desktops) and servers, then demands ransom money in order to decrypt the files. Unless the victim pays the ransom, they are prevented from restoring their data, systems and operations. WannaCry uses a very well-known vulnerability found […]
April 25, 2017
In a recent survey, manufacturers indicated that cutting operational costs and improving customer service are two top priorities for 2017. Here are a few recommendations of how you can accomplish both of these goals at the same time: Customer Self Service You can add a portal – or business to business (B2B) – website that allows your customers […]
Webinars
December 06, 2022
Blue & Co. and Vsimple hosted a webinar on Tuesday, December 6, from 10:00 a.m. to 11:00 a.m. EST entitled Workflow Management: How Hearn Construction is Standardizing & Simplifying Their Business Processes Using Vsimple. This is part one of a series of use case examples demonstrating the success that client’s of Vsimple have discovered while […]
March 30, 2022
Download Webinar Resources On April 6, Blue & Co. held a webinar entitled Myths and Facts of Commercial Loan Reviews. Panelists debunked common loan review myths and presented the facts and practical tips and lessons learned related to commercial loan review. Duration: 1 Hour CPE not available Download Presentation Here Watch a Recording of the […]
January 21, 2022
You’re Invited Join Blue & Co. on Wednesday, February 9 at 12:00 PM EST for a webinar entitled A Guide to the Kentucky Tangible Personal Property Tax Return for Manufacturers. This presentation will walk through the Kentucky Tangible Personal Property Tax Return and identify common preparation errors & potential tax savings opportunities. Duration: 1 hr. CPE Credit: […]
November 22, 2021
You’re Invited! Join Blue & Co. and the Kentucky Distillers’ Association (KDA) on Thursday, December 9 at 10:00 AM EST for a webinar entitled Tax Reform: What does it mean for you and your distillery? Presented by the Beverage Services Group at Blue & Co., LLC., this session will discuss the potential tax outlook for distilleries […]
November 17, 2021
President Biden’s administration recently announced its Path Out of the Pandemic action plan which included specific guidance around a COVID-19 vaccine mandate. The action plan calls for employers with 100 or more employees to require employees to be vaccinated or submit to weekly tests, as well as requiring vaccinations for federal employees, contractors, and hospitals […]
November 09, 2021
Join Us! Join Blue & Co., Current HR, and DBL Law on November 16th from 2 p.m. to 3 p.m. EST for a webinar covering the new COVID vaccine mandates and what it means for your ogranization. President Biden’s administration recently announced its Path Out of the Pandemic action plan. The action plan calls for […]
