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4 Jun

Recognizing Unanticipated Grant Revenue

Many municipal comptrollers have asked me how to recognize unanticipated revenue resulting from a grant. Most commonly, they want to know if it’s okay to offset the receipt of these funds with expenditures resulting from the grant since they were not budgeted. In most cases, the answer is no, revenues and expenditures must be recognized on a gross basis. The…

7 May

Planning for College Expenses

Graduation day is coming quickly for high school seniors everywhere, many of whom are eager to start their college careers in the fall. And after completing numerous applications, nervous interviews and what seemed to be endless hoops through which they jumped, a lucky few are left holding not only acceptance letters, but full or partial scholarships to the school of…

3 Jan

Employee or Independent Contractor? A Taxing Question

In today’s world of cutbacks, the role of employer and employee has become increasingly complex. Many individuals find themselves providing the same services they once did as traditional employees in increasingly less traditional working relationships as employers seek to reduce overall costs. As these roles change, many questions arise as to whether these new relationships are classed as independent contractors…

13 Dec

Year End Tax Saving Moves (Part 2 of 2)

No one likes to throw money away, especially on taxes. In this two-part series, we’ll discuss ways to minimize your tax burden on both a personal and corporate level that you can use now and in the future. In our last post we explored a number of ways to reduce your personal tax burden. Today, we’d like to share some…

6 Dec

Year End Tax Saving Moves (Part 1 of 2)

No one likes to throw money away, especially on taxes. In this two-part series, we’ll discuss ways to minimize your tax burden on both a personal and corporate level that you can use now and in the future. The end of the year is fast approaching, but there are still plenty of actions that you can take to cut your…