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Aug
25

Addressing the Elephant of Big Data

 

Each internet browsing session, cellular call, and credit card swipe leaves a data fingerprint. Multiply those activities by the world’s population of 7 billion, and the amount of potentially available data is overwhelming. However, businesses with the ability to aggregate this “big data” have a unique advantage in serving their customer base. Watch as Mike Scott and David Mills discuss the elephant in the room that’s exponentially growing – big data – and how your business might benefit from utilizing it.

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Aug
22

You are what you are. In the nonprofit world, that means an organization is either a public charity or a private foundation. In other words, you can be a horse or a zebra — but you can’t be both. The Default Setting In the eyes of the IRS, the default setting for a 501(c) (3)….

Aug
18

The USDA recently released its annual Cost of Raising a Child report. 2013 babies will cost their parents nearly a quarter of a million dollars by the time they reach the age of 18. That figure jumps to approximately $304,000 when adjusted for inflation.

Aug
13

Creating Sunshine With Budgets and Forecasting

 

What’s the difference between a budget and a forecast? Budgets are the plan for where a business wants to go, while forecasts are an indication of where the business is actually going. Watch as Alyssa Hill and Sam Sims discuss the benefits of using both budgets and forecasts to manage business decisions.

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Aug
07

“Banks today need at least $1 billion in assets to stay independent.” We’ve all heard this supposed truism—but is it accurate? Or can community banks survive in today’s highly regulated and complex environment? One truth is that the number of small banks has steadily declined in recent years. In 2013, the number of federally insured….

Aug
01

In recent financial statement audits, we are seeing an increase in deficiencies related to user access in the IT environment.  These deficiencies can increase the organization’s risk of fraud and errors as it relates to financial statement preparation, as well as exposing the organization’s IT system to internal and external threats.   As a business owner….

Jul
31

New organizations seeking to be approved by the IRS as tax-exempt entities have understandably long dreaded the lengthy application process; Form 1023 is 26 pages long with nearly 40 pages of instructions. Additionally, the in-depth questions and responses require a significant amount of review by the IRS, resulting in a lengthy waiting period for approval…..

Jul
25

The U.S. Supreme Court recently ruled in Clark v. Rameker that inherited IRAs cannot be shielded from creditors during bankruptcy. The Court noted that inherited IRAs are different from traditional retirement assets in the following three ways: Inheritors are not allowed to make additional contributions to the account. Funds are required to be withdrawn regardless….