Nonprofit Blog

“I’m taking a sick day!” This familiar refrain usually is uttered with just cause, but not always. What if there were no sick days? No, we’re not suggesting employees be forced to work when they’re under the weather. Rather, many businesses are adopting a different paradigm when it comes to paid time off (PTO).[[{"type":"media","view_mode":"media_large","fid":"2491","attributes":{"alt":"","class":"media-image","height":"250","style":"float: right; margin: 10px;","typeof":"foaf:Image","width":"480"}}]]

With three years of data under our belts and year-end numbers in, we’re happy to report that the Georgia manufacturing industry is on a very positive track, outpacing the Southeast and the nation with the state’s highest Purchasing Managers Index (PMI) performance since 2013. In fact, in nearly all of the manufacturing categories tracked by the PMI, Georgia manufacturing shows consistently strong performance.

Our neighbors over at Georgia Tech are having a breakthrough year when it comes to manufacturing! Georgia Tech is partnering with industry leaders to shape the manufacturing renaissance in Georgia and throughout the nation.

As a result of its increased scrutiny of small captive insurance companies, the IRS outlined new disclosure requirements for micro-captive transactions last November. The original due date of the disclosure, included in IRS Notice 2016-66, was January 30, 2017. After receiving a significant amount of requests for an extension, the IRS recently issued Notice 2017-08, which extends the deadline for compliance with the information requirements to May 1, 2017. The deadline is the same for captive owners, insured businesses and material advisors who participate in “transactions of interest.”

Georgia’s Purchasing Managers Index (PMI) — a reading of economic activity in the state’s manufacturing sector — decreased by 3.6 points in January, to 52.0. Although a decrease, the Georgia PMI level remains consistent with economic expansion.

The next tax filing season may seem far away, but as 2016 ends, taxpayers will begin the task of year-end tax planning. While 2016 was not a year for major tax reform or legislative action, there have been some notable regulatory changes. 2016 saw several pieces of regulatory guidance that could have an impact on acquisition and disposition transactions, entity structuring activities, taxable income calculations and tax accounting method options. As real estate owners and operators, construction companies, developers and REITs embark on analyzing their tax situation for 2016 and beyond, it’s critical to be aware of these new developments.

Federal regulators—the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC)—have increased their scrutiny of commercial real estate loans, urging lenders to strengthen terms amid fears of a real estate bubble. This is deterring small, local banks from issuing new loans, and many are selling off the loans they do own to PE firms, pension funds, foreign banks and other institutional lenders, according to The New York Times. Large banks are also retreating, as they can no longer count on selling portions of large loans to smaller banks.

Big Data is big-time ubiquitous in headlines across industries, but the real estate industry has been slow to take advantage. That’s all changing. Commercial real estate companies and REITs are embracing new technologies to harness the power of Big Data to elevate their investment and management strategies and optimize their operations.

Giving to charity can provide not only large tax deductions, but also the satisfaction of doing good. On top of that, it’s one of the most flexible tax planning tools because you can control the timing to best meet your needs. Before you donate, it’s critical to make sure the charity you’re considering is indeed a qualified charity and is eligible to receive tax-deductible contributions.

Do you own a brewery and have a question that you think may be outside of your CPA’s scope of knowledge? Do yourself a favor and just ask! From research and development (R&D) to trademarking advice, your CPA can provide insights into some tricky financial scenarios and help your business improve cash flow while finding savings.