The Partners of GBACO are pleased to announce the promotion of Lauri A. Lisanti to Partner.
Continuing a tradition that stretches back more than 25 years, INSIDE Public Accounting (IPA) has unveiled its list of the Best of the Best public accounting firms in the nation for 2020. These top performers within the profession are ranked on more than 50 metrics. The 2020 Best of the Best firms produce superior financial results which planning for long-term, sustainable growth.
Topics: "Best of the Best"
Goff Backa Alfera & Company is committed to providing our employees and clients a safe and healthy work environment. In light of the rapidly changing developments with Covid19, the Firm is implementing new policies and procedures for the near future that will safeguard our employees and clients.
Pittsburgh, PA November 20, 2019 – Goff Backa Alfera & Company, LLC is pleased to announce the acquisition of the audit and attestation practice of Seachrist & Associates, A.C. effective January 1, 2020. The firm will maintain offices in Pittsburgh and Wheeling, West Virginia, and the former Seachrist & Associates audit team will continue to operate from Wheeling and service their clients in the same manner as always. Seachrist & Associates will continue preparing income tax returns for individuals, corporations, partnerships, limited liability companies, estates, and non-profit organizations. They will also continue to provide clients a wide range of other services including bookkeeping, consulting and payroll.
INSIDE Public Accounting (IPA) continues its tradition of more than 25 years by releasing the 2019 list of the Best of the Best public accounting firms in the nation.In 2019, 550 firms were eligible for this accolade by participating in IPA’s Annual Survey and Analysis of Firms, now in its 29th year.IPA also named the 10 firms under $5 million in net revenue for the Best of the Best Under $5 million.Unlike their large firm counterparts, these firms earned this distinction with fewer resources to deliver top-notch client service, sought-after benefits and professional development across the firm – hallmarks of the Best of the Best.“For firms looking to benchmark their own performance against the highest performing firms in the nation, the IPA Best of the Best firms is the group to emulate,” says Mike Platt, principal of INSIDE Public Accounting.“Best of the Best firms are evaluated across many dimensions, and collectively represent the best the profession has to offer.”
Topics: "Best of the Best"
We recently had an inquiry regarding “What funds count for federal funds for single audit?” Unfortunately, the answer to this inquiry isn’t exactly straight forward.
Organizations that expend $750,000 or more of federal funds annually are required to have a Single Audit. Recipients of federal funds are responsible for identifying their federal awards and determining if they are subject to Single Audit requirements. In trying to determine if you are required to have a Single Audit, the first step is to determine the source of grant funds.
The 2017 Tax Cuts and Jobs Act (TCJA) made significant changes to the business meals and entertainment deduction starting in 2018. On October 3, 2018, the Internal Revenue Service (IRS) issued guidance on the business expense deduction for meals and entertainment as a follow up to the TCJA. This guidance was in response to confusion regarding the clarity of the changes made by the TCJA. We now have a much clearer picture of what is and isn't considered deductible and to what extent.
January marks the beginning of busy season for auditors. If your company is subject to an audit (as of and for the year ending December 31, 2018), this means it is time to start preparing.
Companies need audits for a variety of purposes, and the accounting personnel of auditees vary in size, background, and experience. Suppose you are the owner of a construction company that's subject to an external audit for insurance purposes. Maybe you are the internal accountant of a larger company. Whatever the reason for your audit, or the position you hold, sometimes it can difficult to know how to best prepare for your audit.
Topics: Audit & Assurance