(910) 256-9995 | info@earneynet.com

Blog

Our Blog

2018 year-end year-round Tax Planning Guide

Year-end tax planning always has its share of complexity.

Read More...

PROTECTING YOUR BUSINESS

You work hard to build your business. Take the time to protect your investment. When we have discovered, or uncovered, cases of fraud, embezzlement, or inaccurate reporting, it is often a surprise to the owner. Fraud prevention, embezzlement detection, and accurate financials are all reasons to implement and follow sound internal control practices. It is the age-old adage of “an ounce of prevention….”

Read More...

Internal Revenue Code Section 139: Disaster Relief – Employers Helping Employees

Hurricane Florence made landfall in North Carolina on September 14, 2018 as a Category 1 hurricane and brought with it a record amount of rainfall and a massive loss of power throughout the state of North Carolina, as well as parts of South Carolina. When the winds decreased, the rains came. The magnitude of the storm brought destruction for an extended period of time. On September 15, 2018, President Trump approved a major disaster declaration for certain counties in North Carolina.

Read More...

Individual, Small Business, and Self-Employed Disaster Assistance

The storm has passed and now the process of assessing the damage and rebuilding our homes, communities, and lives starts. It can be overwhelming figuring out where to start and how to navigate the various systems. This blog post is a guide for applying for disaster assistance with the Federal Emergency Management Agency (“FEMA”) and the Small Business Administration (“SBA”).

Read More...

Our New Website!

Earney & Company, L.L.P. is excited to announce the recent launch of our firm’s new website. We’ve been working very hard to enhance our website and give our firm a fresh look. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we continue to meet your needs.

Take a moment to look...

Read More...

Clarification for Accounting Changes

July 20, 2018

The Financial Accounting Standards Board (FASB) has provided guidance and clarification for their recent updates regarding Revenue Recognition. Correctly accounting for grants and contributions is an issue for not-for-profit entities since both are a significant source of revenue. Since grants and contributions are often the main source of revenue for not-for-profit entities, it is imperative...

Read More...

Changes Coming to Sales Tax on Internet Sales

Chad Wouters, CPA

July 16, 2018

It appears 2018 will be the year of tax law changes on many fronts.

In December 2017, the new Tax Cut and Jobs Act was placed into effect for 2018 and now, there is a possibility of major changes related to sales taxes on internet sales. The sales tax law that has previously been upheld since 1992 was overturned by the Supreme Court in June 2018, and this could potentially lead to big...

Read More...

Accounting Changes For Not-for-Profit Entites

June 1, 2018

The Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-14, Not-for-Profit Entities (Topic 958), Presentation of Financial Statements for Not-for-Profit Entities. We will provide a complete copy of the Update upon request. The changes may affect your financial statements as early as 2018, and you may or may not need to make changes in your day-to-day...

Read More...

Changes in Cash vs. Accrual Accounting: What’s Best for your Business?

Chad Wouters, CPA

May 14, 2018

Now that the 2017 tax season has officially ended, we can focus more attention on the Tax Cut and Jobs Act (“TCJA”) our government enacted at the end of 2017 and shift our attention to the numerous planning opportunities that the new law presents.

One of those opportunities centers on how a company reports income and expenses for tax return purposes.

There are two...

Read More...

Earney & Company, L.L.P. Announces New Partner: Camron T. Faulkner, CPA

May 1, 2018

WILMINGTON, NC., May 1, 2018, Earney & Company, L.L.P.  is pleased to announce the admission to the partnership of Camron T. Faulkner, CPA.   

Camron began his career at Earney & Company in May...

Read More...

Reporting Contributions from Fundraising and Special Events

Sandy Crumrine, CPA

March 23, 2018

Most non-profits host fundraising and special events in order to raise monies for their organization. Simple contributions, such as cash, are easy to track. The main focus of this article is to explain breaking out what is considered revenue from events and what should be considered contributions to your organization. Believe it or not, differentiating these two from the beginning will cause...

Read More...

Not-for-Profits – Key changes with the New FASB Standard 2016-14

Alex Speight, CPA

March 5, 2018

In August 2016, the Financial Accounting Standard Board (FASB) issued Accounting Standards Update (ASU) No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, which is aimed at improving the existing standards for financial statement presentation by non-for-profit (NFP) organizations. The new standards should have an impact on substantially all NFPs, and some will be...

Read More...

Tax Reform: Depreciation Changes

Chad Wouters, CPA

February 16, 2018

In December, the Tax Cuts and Job Acts was signed into law. Since then, CPAs and tax attorneys everywhere have been reading and rereading every aspect of the new law to make sense of what it actually means for taxpayers. One of the biggest changes in the law involves changes in depreciation. We here at Earney & Company would like to share the information we have learned so far to help...

Read More...

2018 Tax Reform Guide

January 25, 2018

The “The Tax Cuts And Jobs Act of 2017” which was the most significant tax reform since 1986 will have an impact on virtually every business and individual. Our 2018 Tax Reform Guide highlights the changes that we believe will have the largest impact on our individual and business clients. If you have questions concerning other provisions in the New Law not discussed in this...

Read More...

With Reform Comes New Deductions for Owners of Pass Throughs

Chad Wouters, CPA

January 17, 2018

The Tax Cuts and Jobs Act that was signed into law in December has left CPAs and tax attorneys scrambling to understand exactly what it means for taxpayers.

We at Earney & Company are working diligently to understand the impact for our clients. There are far too many changes to cover in one post, but we will try to cover the changes over a series of posts to help our clients and...

Read More...


In three easy steps, our team can help you
find your path to a sustainable, profitable business
and more individual freedom.

 

Latest from Our Blog


Learn More