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Showing content with the highest reputation on 08/22/2019 in all areas

  1. Blocked downloads are usually the fault of security software. Either pause or disable security to download. I recommend uninstalling McAfee. It and Norton are both notorious for causing problems and slow performance. I use Firefox primarily, Chrome for persnickety sites and IE for US government sites.
    5 points
  2. I agree with Abby, and if the payroll is fairly consistent from pay to pay, the accrual probably doesn't materially change that expense or the overall reporting anyway. If that is the case, I would book accruals and reversals only for final year-end reporting.
    3 points
  3. Just remind them it is for the whole calendar year - once they give them the cash they should, technically, be sure to skip any Christmas or birthday gifts since that will put them over the limit if they have already given the max.
    3 points
  4. I wouldn't worry about this for a nonprofit. I also would not report monthly for a nonprofit. Every nonprofit in my town that I became treasurer for (including my Quaker meeting), I switched from monthly to quarterly, because nonprofits have so much variability from month to month, it was meaningless and confusing to review monthly. It was a waste of the everyone's time to do monthly financials, and left people more confused than informed.
    2 points
  5. I use FF most everything. Opera for essentially social things. Since FF is always open, it is nice not having the social stuff open all the time and tempting. Our brokerage flows through IE along with anything for the bank or IRS. I didn't like Edge and didn't see the point of using it. Yes I know Opera and Chrome are essentially the same thing. I always delete Norton or McAfee and used to go with a free program but just used Windows Defender this time. I've never had a problem. CNET made it pretty clear in an article that it's likely as good as anything you could buy but the computer maker was paid to put a pay program on your computer.
    1 point
  6. I've had some sites stop working in FF but start working again in later versions.
    1 point
  7. According to Kim Kommando, Edge does not have any major drawbacks but lacks some of the security features and extensions of other browsers. It does open quickly and is kind to system resources. Firefox is supposedly the safer browser, Chrome is more popular but may be sharing information with Google and is a resource hog. I don't know anything much about Vivaldi (Opera) or Tor. If Edge is doing everything you want it to, I would go with it. I am not an expert on browsers however, so don't rely on this information as the final word.
    1 point
  8. If on the accrual basis, then accrue salary at month end if paid shortly after month end date. It doesn't matter if the salary is fixed or variable, so long as it's determined by month end.
    1 point
  9. Here's section 1.168(i)-4 that covers change in use and describes the method in your client's circumstance. The change is assumed to be on the first day of the tax year, and you will use the adjusted depreciable basis. The page at Cornell Law that I linked to has additional clickable links for definitions if you need them and describes the proper reporting when the new MACRS method has a shorter life than before, or a longer one.
    1 point
  10. In my state of Oregon only CPAs can issue compilations. That position is strongly defended by the Oregon State Board of Accountancy.
    1 point
  11. I believe it is standard in all 50 states that only CPAs can issue audit and review financial statements, and in general, non-CPAs are limited to only compilations or products that don't rise to the level of a financial statement. Edsel needs to check his home state of TN's regulations, and KY's if he is physically conducting business there.
    1 point
  12. Did the Kentucky bank specify as to what level of service the financial statements should be? Compilation, Review, Audit? In my state NY, only CPAs can prepare Compilations. And even then, not every CPA can prepare Reviews or Audits unless they meet state mandated requirements of 1,000 hours of auditing experience a year and undergo a mandatory peer review program.
    1 point
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