Search Results for "fica"

You may recall from our September 2018 article From Regulation to Relief: A Community Bank Perspective on The Economic Growth, Regulatory Relief, and Consumer Protection Act, one of the directives of the Act is to provide regulatory relief to the banking industry by reducing regulatory reporting requirements and simplifying capital calculations. In September 2019, the FDIC finalized a new regulatory capital framework, the Community Bank Leverage Ratio (CBLR) framework.

Baker Newman Noyes (BNN) has welcomed four senior-level professionals in Massachusetts. Drew Nagus, Jim Guarino, Jeff Rogers, and Chris Giallongo will be based in the firm’s newest office in Woburn, Massachusetts, opening in January 2020. The Woburn office expands the firm’s presence in Massachusetts, where it also has an office in downtown Boston.

The thoughts below represent the second article in a series, consisting of advice from a CPA to young adults. This series’ goal is to help readers develop good fiscal hygiene, addressing matters that should be, but seemingly are not, consistently taught in high school or even college. Although directed toward young adults, it should be relevant to people of all ages and stages of life.

In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendments in this ASU address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The amendments in this update are applicable to all entities that hold financial assets or owe financial liabilities, including not-for-profit entities (NFPs). While there are several provisions within the ASU, the following is intended to specifically discuss what we believe to be the most relevant for NFPs.

With only a few weeks left in the 2019 calendar year, the ability to fully maximize the benefit of investing in a Qualified Opportunity Zone (QOZ) is coming to an end, and taxpayers may want to act quickly before benefits are diminished.

The IRS is rolling out a new Form W-4 for use in year 2020. W-4 forms (“Employee’s Withholding Certificate”) are completed by employees and given to their employers, and are used to determine the amount of federal income tax to be withheld from the employee’s wages.