Latest news pertaining to News and Insights. http://www.schneiderdowns.com/cms/program/content/rss.php?feed=1 Mon, 08 Feb 2010 18:24:20 EST Mon, 08 Feb 2010 18:24:20 EST Due to travel concerns related to the possible snowstorm this week, we have rescheduled the Executive Roundtable, "How can lean manufacturing principles help my business?" scheduled for February 10, 2010 to April 8, 2010. We apologize for the ... http://www.schneiderdowns.com/Roundtable_Postponed Mon, 08 Feb 2010 00:00:00 EST Nancy Skeans, Managing Director and Partner at Schneider Downs Wealth Management Advisors, was interviewed by Sheryl Nance-Nash for the article,"How to Bounce Back From a Job Loss," that appeared in The Faster Times. Nancy talks about networking ... http://www.schneiderdowns.com/Skeans_Faster_Times Fri, 05 Feb 2010 00:00:00 EST Cash contributions made to charities providing earthquake relief to Haiti, made before March 1, 2010, may be deducted on your 2009 tax return. The new law is modeled after legislation that encouraged charitable contributions after the 2004 Indian Ocean ... http://www.schneiderdowns.com/Haiti_Donations_Deductible_ Thu, 04 Feb 2010 00:00:00 EST Echoing the familiar adage that educators often acknowledge, “Parents are a child’s first teacher,” senior management’s directives and behaviors have the same impact on an organization in its efforts to mitigate fraud or unethical ... http://www.schneiderdowns.com/Right_Stuff Thu, 04 Feb 2010 00:00:00 EST On Monday President Obama outlined a few details of his 2011 budget package. These details will have a significant impact on the coal industry as well as the oil and gas sector. A few of the proposed changes include: 1) Elimination of percentage depletion ... http://www.schneiderdowns.com/New_Budget_Package_Will_Impact_Coal_and_Oil_Gas_Sectors Tue, 02 Feb 2010 00:00:00 EST The PA Department of Labor & Industry mailed the 2010 contribution rate notices to PA employers during the last few weeks. Many of the notices may have significant rate increases as a result of the unemployment benefits paid the last few years and ... http://www.schneiderdowns.com/Contribution_Rate_Notices Tue, 02 Feb 2010 00:00:00 EST When enacting the CAT statute, it appears that the Ohio legislature failed to include language authorizing the Ohio Department of Taxation to enter into mutually agreeable waivers with taxpayers to extend the statute of limitations. The statute of limitations ... http://www.schneiderdowns.com/CAT_Jeopardy_Assessments Mon, 01 Feb 2010 00:00:00 EST Nancy Skeans partner, managing director for Schneider Downs Wealth Management Advisors, LP, was featured in the Pittsburgh Business Times' Personal Portfolio section. Nancy talked about the lessons learned during the recent recession. ... http://www.schneiderdowns.com/Skeans_PBT_10 Fri, 29 Jan 2010 00:00:00 EST Henry Syzmanski, director of the automotive group for Schneider Downs, talks to Tim Schooley at the Pittsburgh Business Times about the Toyota recall and its impact on Pittsburgh dealerships in the article, "Impact of Toyota recall not yet clear ... http://www.schneiderdowns.com/Syzmanski_Toyota Thu, 28 Jan 2010 00:00:00 EST In 1994, I had the privilege of meeting former WTAE-TV meteorologist Joe DeNardo at the Pittsburgh Italian Scholarship Fund Dinner, where he was recognized as their Italian-American Man of the Year. In his acceptance comments, Mr. DeNardo said something ... http://www.schneiderdowns.com/Community_Service Wed, 27 Jan 2010 00:00:00 EST The economic downturn that began in December 2007 forced many companies to downsize, cutting their workforces, closing plants and leaving many unemployed. We can’t soon forget that the jobless rate in 2009 was the worst any of us have seen in a ... http://www.schneiderdowns.com/Partial_Plan_Termination Tue, 26 Jan 2010 00:00:00 EST On January 15, 2010, the Internal Revenue Service issued Information Release 2010-6, providing filing guidance for eligible homebuyers claiming the first-time homebuyer credit. The IRS will begin processing returns that claim this credit in mid-February. ... http://www.schneiderdowns.com/Guidance_Homebuyer_Credit Mon, 25 Jan 2010 00:00:00 EST After three straight years of decline in the U.S. construction market and a 40% drop in building activity, will 2010 provide more opportunities? The National Association of Home Builders is forecasting approximately 610,000 single-family housing starts ... http://www.schneiderdowns.com/Construction_Industry_Outlook Mon, 25 Jan 2010 00:00:00 EST Jeff Wlahofsky spoke to Anya Litvak at the Pittsburgh Business Times about IRS changes that may impact businesses in the article, "Three IRS changes that could impact your firm." ... http://www.schneiderdowns.com/Wlahofsky_IRS Fri, 22 Jan 2010 00:00:00 EST The possibility of a tax on natural gas produced in Pennsylvania has surfaced again. Proposed in Governor Ed Rendell’s speech in February 2008 as part of the then proposed Pennsylvania budget, the proposal was taken off the table last August. Although ... http://www.schneiderdowns.com/Tax_Natural_Gas Fri, 22 Jan 2010 00:00:00 EST On Tuesday, January 19, the Schneider Downs Nonprofit Industry Group hosted its quarterly Breakfast Brief Meeting. The 90-minute event was held at the Rivers Club in Pittsburgh. There were approximately 100 registrants, consisting of clients and friends ... http://www.schneiderdowns.com/pci_recap Thu, 21 Jan 2010 00:00:00 EST The recession officially began in December 2007, but some manufacturers didn’t start to feel the effects until late in 2008. Many manufacturers probably had fixed asset impairment discussions with their auditors at the end of 2008, but were able ... http://www.schneiderdowns.com/Fixed_Asset_Impairment_Consideration Thu, 21 Jan 2010 00:00:00 EST Jeffery Acheson, Partner/Managing Director of Schneider Downs Wealth Management Advisors, is featured in an article on DailyFinance.com, posted January 20. The article, "Does Your 401(k) Have an ETF in Its Future," focuses on exchange-traded ... http://www.schneiderdowns.com/Acheson_Daily_Finance Wed, 20 Jan 2010 00:00:00 EST The State of New York has initiated a Penalty and Interest Discount Program (PAID) beginning January 15, 2010. The program allows participants to pay off old tax liabilities with a reduction up to 80% of the accrued penalty and interest. To qualify for ... http://www.schneiderdowns.com/New_York_Tax_PAID Tue, 19 Jan 2010 00:00:00 EST John Stafford, Technology Shareholder, talked to Malia Spencer about Schneider Downs' intranet in the Pittsburgh Business Times article, "Schneider Downs opens lines of communication with intranet." ... http://www.schneiderdowns.com/Stafford_SDhub_PBT Fri, 15 Jan 2010 00:00:00 EST Don Applegarth, Audit Shareholder, spoke to Anya Litvak at the Pittsburgh Business Times about a new committee formed by the American Institute of Certified Public Accountants (AICPA) and the Financial Accounting Foundation (FAF) to address IFRS for small ... http://www.schneiderdowns.com/Applegarth_IFRS_PBT Fri, 15 Jan 2010 00:00:00 EST “We need to be more security conscious” is a common theme at many organizations today. Odds are that your organization is spending large sums of money strengthening your network in order to prevent the occurrence of a data breach. You may ... http://www.schneiderdowns.com/Are_You_Prepared Fri, 15 Jan 2010 00:00:00 EST In January 2010, the Financial Accounting Standards Board (FASB) issued ASU No. 2010-03, Extractive Activities – Oil and Gas (Topic 932): Oil and Gas Reserve Estimation and Disclosures. This guidance improves the reserve estimation to include recent ... http://www.schneiderdowns.com/Extractive_Activities Wed, 13 Jan 2010 00:00:00 EST At the recent American Institute of Certified Public Accountants (AICPA) Conference, Securities and Exchange Commission (SEC) Commissioner, Elisse B. Walter, noted, “As with any important policy question, we are proceeding deliberately and thoughtfully. ... http://www.schneiderdowns.com/Convergence_IFRS_2010 Tue, 12 Jan 2010 00:00:00 EST Last month the American Institute of Certified Public Accountants (AICPA), the Financial Foundation (FAF) and the National Association of State Boards of Accountancy (NASBA) formed a joint panel to examine the need for separate accounting standards for ... http://www.schneiderdowns.com/New_Standards_Private_Company Tue, 12 Jan 2010 00:00:00 EST On New Year’s Eve, I watched the basketball game between Wake Forest University and the University of Richmond, my alma mater. And who says accountants don’t know how to party? Late in a close game, the color commentator (let’s just ... http://www.schneiderdowns.com/Coach_Advice Mon, 11 Jan 2010 00:00:00 EST First, let’s start by taking a look back to January 30, 2009, as hard as that may be. The S&P 500 Index was down 106 points for the month and the Dow was down almost 800 points -- traditionally January is considered a strong indicator of how ... http://www.schneiderdowns.com/Superbowl_2009 Fri, 08 Jan 2010 00:00:00 EST The Ohio Department of Taxation has adopted Rule 5703-9-36, which explains the calculation of sales tax due on the purchase of a new motor vehicle when there is a trade-in vehicle carrying negative equity. A motor vehicle dealer may state the amount of ... http://www.schneiderdowns.com/Negative_Equity_Vehicle_Sales Fri, 08 Jan 2010 00:00:00 EST COLUMBUS, OH – Schneider Downs & Co., Inc, one of the top 50 public accounting, tax and business advisory services firms in the U.S., has recently appointed Cynthia J. Hoffman as director of its international tax practice. Hoffman brings more ... http://www.schneiderdowns.com/Hoffman_International_Tax Wed, 06 Jan 2010 00:00:00 EST Don A. Linzer, managing director of Schneider Downs Wealth Management Advisors, recently shared his perspectives on utilities funds with the Wall Street Journal's Dale Buss. The article was part of the Journal's quarterly investment analysis and appeared ... http://www.schneiderdowns.com/Linzer_Wall_Street_Journal Wed, 06 Jan 2010 00:00:00 EST Don A. Linzer, Shareholder, was quoted in the Pittsburgh Post-Gazette article, "Business: Rules of the game have changed." The article discussed the new laws and regulations that may impact businesses. ... http://www.schneiderdowns.com/Linzer_Rules Mon, 04 Jan 2010 00:00:00 EST Sending email between organizations is a standard communication process for many organizations for sharing information, collaborating and transacting business by leveraging the Internet. However, despite its convenience, using the Internet for sending ... http://www.schneiderdowns.com/Encrypting_Email Wed, 30 Dec 2009 00:00:00 EST Directors of nonprofits are asking themselves more and more how the economy will impact their organization. Will donors continue their support? Will volunteers continue to provide services? What will happen to their endowments? And how will their investments ... http://www.schneiderdowns.com/Restricted_Funds Tue, 29 Dec 2009 00:00:00 EST When performing a valuation, assets or liabilities that are not reported on a company’s balance sheet can be just as important as those that are reported. Since contingent liabilities such as pending litigation, potential environmental issues or ... http://www.schneiderdowns.com/Contingent_Liabilities_ Wed, 23 Dec 2009 00:00:00 EST Don’t Underestimate the Value of Live, Personal Interaction With all of the electronic media geared toward networking (e.g., Linked In, Facebook, Twitter, etc.), society appears to be moving away from networking via live, personal interaction; however, ... http://www.schneiderdowns.com/Student_Membership Mon, 21 Dec 2009 00:00:00 EST Many of us will attend a variety of parties and get-togethers this holiday season. Some will be casual and low key; some will be formal and require a little more restraint. Either way, we could all use a brushup on some basic rules of etiquette. Some ... http://www.schneiderdowns.com/Holiday_Etiquette Fri, 18 Dec 2009 00:00:00 EST Given the unprecedented state of the economy since mid 2008 and the recent administration change in Washington, tax planning will become even more critical, especially this year. Because of the significant recent tax law changes, no deduction should be ... http://www.schneiderdowns.com/2009_and_Beyond Thu, 17 Dec 2009 00:00:00 EST Despite the scheduled January 1, 2010 expiration of the estate tax, it is unlikely Congress will pass an estate tax bill before the end of the year. Under current law, the estate tax is scheduled to temporarily disappear in 2010 and return in 2011 with ... http://www.schneiderdowns.com/Status_of_Estate_Tax_in_2010 Thu, 17 Dec 2009 00:00:00 EST We here at Schneider Downs Wealth Management Advisors, LP (SDWMA) have long held that the recipe (asset allocation) is as or more important than the ingredients (utilized funds). As any great chef will tell you, a bag of the best ingredients in the world ... http://www.schneiderdowns.com/Asset_Allocation Thu, 17 Dec 2009 00:00:00 EST The American Recovery and Reinvestment Act of 2009 contains several tax benefits for the buyers of new vehicles. These benefits expire December 31, 2009 so now is the time to encourage sales. Additional Deduction for State Sales and Excise Taxes An additional ... http://www.schneiderdowns.com/Tax_Benefits_for_New_Vehicle_Buyers Wed, 16 Dec 2009 00:00:00 EST H.R. 2454: the American Clean Energy and Security Act of 2009, also known as the Waxman-Markey Bill, attempts to create clean energy jobs, foster U.S. energy independence, reduce global-warming pollution and transition the U.S. to a clean energy economy. ... http://www.schneiderdowns.com/Waxman_Markey_Pennsylvania Wed, 16 Dec 2009 00:00:00 EST I recently attended the AICPA/PDI National Oil & Gas Conference in Denver, Co. It was very informative and shed insight as to the future of this industry. Topics included risk strategies, reserve reporting, various technical accounting and tax matters. ... http://www.schneiderdowns.com/postcard_oilandgas Wed, 16 Dec 2009 00:00:00 EST As we enter into cold and flu season, most companies need to take a look at pandemic planning. I know that I have seen the bottles of hand sanitizer everywhere I turn. I have it at my desk, in my car, at home, and I have even seen hand sanitizer in the ... http://www.schneiderdowns.com/pandemic_planning Wed, 16 Dec 2009 00:00:00 EST Last year at this time we talked about making and keeping New Year’s Resolutions during challenging times. We suggested that uncertainty presented the perfect opportunity to review strategic options, processes and goals. How did your company measure ... http://www.schneiderdowns.com/Mfg_Looking_Back_On_09 Fri, 11 Dec 2009 00:00:00 EST Every organization, from Fortune 500 companies to small startups, from government agencies to not-for-profits, uses some form of spreadsheet and personal database software. In fact, many organizations would not be able to function without them. However, ... http://www.schneiderdowns.com/Access_and_Excel Fri, 11 Dec 2009 00:00:00 EST Don Applegarth and Steve Thompson are attending the National SEC and PCAOB Conference in Washington D.C. this week. Here’s a peek at a few of their observations from Cynthia Fornelli's presentation. Cynthia Fornelli, Center for Audit Quality, discussed ... http://www.schneiderdowns.com/Postcards_SEC_Fornelli Wed, 09 Dec 2009 00:00:00 EST On December 7, 2009, House Ways and Means Committee Chairman Charles B. Rangel, D-NY, introduced HR 4213, the Tax Extenders Act of 2009. This legislation extends through 2010, $32 billion of tax provisions that are due to expire at the end of 2009. The ... http://www.schneiderdowns.com/Tax_Extenders_Act_09 Wed, 09 Dec 2009 00:00:00 EST Don Applegarth and Steve Thompson are attending the National SEC and PCAOB Conference in Washington D.C. this week. Here’s a peek at a few of their observations from Wayne Carnall's presentation. Wayne Carnall, SEC Division of Corporate Finance ... http://www.schneiderdowns.com/Postcard_SEC_Con_2 Tue, 08 Dec 2009 00:00:00 EST On August 7, 2009, the Internal Revenue Service (IRS) issued Notice 2009-62, extending the due date for 2008 and earlier calendar-year Treasury Forms TD F 90-22.1, Report of Foreign Bank and Financial Accounts, (FBAR), for certain specified persons. The ... http://www.schneiderdowns.com/FBAR_Guidance Tue, 08 Dec 2009 00:00:00 EST Don Applegarth and Steve Thompson are attending the National SEC and PCAOB Conference in Washington D.C. this week. Here’s a peek at a few of their observations from Robert Harris' presentation at the conference. On December 7th, AICPA’s Robert ... http://www.schneiderdowns.com/Postcards_SEC_Harris Mon, 07 Dec 2009 00:00:00 EST Don Applegarth and Steve Thompson are attending the National SEC and PCAOB Conference in Washington D.C. this week. Here’s a peek at a few of their observations from James Kroeker's presentation at the conference. James Kroeker, SEC Chief Accountant, ... http://www.schneiderdowns.com/Postcards_SEC_Kroeker Mon, 07 Dec 2009 00:00:00 EST Don Applegarth and Steve Thompson are attending the National SEC and PCAOB Conference in Washington D.C. this week. Here’s a peek at a few of their observations from Daniel Goelzer's presentation at the conference. Daniel Goelzer, Acting Chairman ... http://www.schneiderdowns.com/Postcards_SEC_Con Mon, 07 Dec 2009 00:00:00 EST Don Applegarth and Steve Thompson are attending the National SEC and PCAOB Conference in Washington D.C. this week. Here’s a peek at a few of their observations from Merideth Cross's presentation at the conference. Merideth Cross, SEC Division of ... http://www.schneiderdowns.com/Postcards_SEC_Cross Mon, 07 Dec 2009 00:00:00 EST Schneider Downs, as part of its community outreach program, is collecting books to donate to The Neighborhood Academy. A Giving Tree in the Pittsburgh office lobby is decorated with book tags. Employees select a book tag and purchase the book to donate ... http://www.schneiderdowns.com/Book_Donations Mon, 07 Dec 2009 00:00:00 EST Every year, plan sponsors must make sure that their qualified benefit plans meet certain compliance requirements, which include conforming to limitations as defined by the Internal Revenue Service (IRS). The annual limitations have been released by the ... http://www.schneiderdowns.com/New_ERISA_Limitations Fri, 04 Dec 2009 00:00:00 EST We have been hearing about the U.S. adopting the International Financial Reporting Standards (IFRS) for quite some time now. At the G-20 Summit held in Pittsburgh in September, trustees of the G-20 reconfirmed their support of projects outlined in the ... http://www.schneiderdowns.com/IFRS_1 Thu, 03 Dec 2009 00:00:00 EST As part of the Economic Growth Tax Revenue Reconciliation Act of 2001 (EGTRRA), Congress enacted a gradual decrease in the estate tax until 2010 when it would be completely repealed for one year. Under that law, the estate tax would return in 2011 at ... http://www.schneiderdowns.com/Estate_Tax_Vote Thu, 03 Dec 2009 00:00:00 EST On December 2, 2009, Schneider Downs Business Advisors held an Executive Roundtable: “Valuing Your Company in These Uncertain Time”. The roundtable was moderated by Joel Rosenthal, Thomas Claassen and me, and was attended by key business leaders ... http://www.schneiderdowns.com/Business_Valuation_Answers Thu, 03 Dec 2009 00:00:00 EST ... http://www.schneiderdowns.com/Ted_Pettko_on_Client_Relationships Wed, 02 Dec 2009 00:00:00 EST On November 6, 2009, President Obama signed into law the Worker, Homeownership, and Business Assistance Act of 2009. Among its several provisions, the act mandates paid tax return preparers who prepare more than 10 returns to electronically file (e-File) ... http://www.schneiderdowns.com/Electronic_Filing_Tax_Bill Mon, 23 Nov 2009 00:00:00 EST Auditors have used computer-assisted audit techniques (CAATs)/data analysis software to perform data analysis and data-mining audit procedures for years. However, your own audit department may not be using data analysis software to the extent they should ... http://www.schneiderdowns.com/Data_Mining_Audit_Procedures_Worth_the_Effort Mon, 23 Nov 2009 00:00:00 EST Have you read one of our INSIGHTS and wanted to tell us what you thought or ask a question? Now you can with the “comments” feature on INSIGHTS. You can submit a comment that will be directly attached to a Schneider Downs INSIGHT by using ... http://www.schneiderdowns.com/Comments Fri, 20 Nov 2009 00:00:00 EST Tricia M. Warrick, managing director, Schneider Downs Corporate Finance, LP, discusses the credit crunch thaw with freelance reporter Lisa Hooker, Columbus CEO magazine. While the economy begins to emerge from the storm, there remains a reluctance to ... http://www.schneiderdowns.com/Tricia_Warrick_discusses_the_credit_crunch_thaw_with_Columbus_CEO_magazine Wed, 18 Nov 2009 00:00:00 EST On November 4, 2009, Schneider Downs Corporate Finance hosted its 8th annual Pittsburgh seminar titled “Getting Deals Done – New Considerations in the M&A Market” which featured panelists Peter J. Lieberman, Patricia M. Warrick, ... http://www.schneiderdowns.com/SDCF_Seminar_09 Tue, 17 Nov 2009 00:00:00 EST Creating opportunities for women professionals to exchange ways to network and grow with, and for, one another. That is the mission of the W.I.N. (Women in the Neighborhood) professional women’s initiative. W.I.N. is a networking forum established ... http://www.schneiderdowns.com/Network_Connect_Climb_Advance Mon, 16 Nov 2009 00:00:00 EST In early 2009, the federal government announced that, as part of the American Recovery and Reinvestment Act (ARRA), Ohio would receive transportation stimulus funds totaling $774 million. The funding would be spent in nearly all of Ohio’s 88 counties ... http://www.schneiderdowns.com/ARRA__OH_Transport Mon, 16 Nov 2009 00:00:00 EST Franchise Tax Returns With the phase-out of the personal property tax and franchise tax that began 4 years ago, 2009 marked the final returns for many filers. The final Forms FT-1120 for corporations were due on October 15, 2009 (if extended), and the ... http://www.schneiderdowns.com/2009_Ohio_Tax_Update Mon, 16 Nov 2009 00:00:00 EST Pittsburgh, PA – Richard McKenna, has transferred from Schneider Downs Technology Advisors to Schneider Downs Business Advisors, effective October 1, 2009. Rich will serve Business Advisory clients with the same enthusiasm that he has shown throughout ... http://www.schneiderdowns.com/McKenna_Business_Advisors Thu, 12 Nov 2009 00:00:00 EST Schneider Downs is proud to salute our employees who have served our country. We are honored that they, as veterans and reservists, have chosen careers with Schneider Downs--where dedication, care, leadership, integrity and values are practiced every ... http://www.schneiderdowns.com/Veterans_Salute_09 Wed, 11 Nov 2009 00:00:00 EST What is an automobile dealership worth today? That’s a tough question, but I’d be willing to bet the answer is, in most cases, “less than what it was worth last year.” Blue sky is down across the board, due, in part, to a perceived ... http://www.schneiderdowns.com/What_is_an_Auto_Dealership_Worth_Today_ Wed, 11 Nov 2009 00:00:00 EST Schneider Downs’ Don A. Linzer will be one of three panelists to reflect on new strategies for succeeding in a down economy at the next Enterprise Forum Pittsburgh meeting on November 18 at the Pittsburgh Golf Club. “The Tough Get Going: How ... http://www.schneiderdowns.com/Linzer_Enterprise_Forum_MIT Wed, 11 Nov 2009 00:00:00 EST The Worker, Homeownership and Business Assistance Act of 2009 (the Act) was signed into law on November 6, 2009. In addition to extending benefits to unemployed workers, the Act extends and expands some of the stimulative tax measures contained in the ... http://www.schneiderdowns.com/New_Law_Extends_Homebuyer_Credit__Unemployment_Benefits_and_NOL_Carrybacks Tue, 10 Nov 2009 00:00:00 EST L is for Leadership It’s been said that with great power, comes great responsibility. This year, I participated as a planning committee member for the WELD 2010 Women You Should Know Calendar. My experience as a writer for the calendar afforded ... http://www.schneiderdowns.com/L_is_for_Leadership Mon, 09 Nov 2009 00:00:00 EST With more and more countries adopting the International Financial Reporting Standards (IFRS), the decision makers from both the U.S. and international accounting boards have been meeting regularly to come to a consensus on all of the differences between ... http://www.schneiderdowns.com/Accounting_for_Financial_Instruments_Update Mon, 09 Nov 2009 00:00:00 EST At the October 7-8 International Accounting Standards Committee (IASC) Foundation meeting following the G-20 Summit held in Pittsburgh, IASC trustees reaffirmed their commitment to developing a single source of global accounting standards. This statement ... http://www.schneiderdowns.com/IFRS_Convergence_G-20 Fri, 06 Nov 2009 00:00:00 EST Construction Update: For the homebuilders fortunate enough to survive the economic conditions they’ve encountered the past 18 months, many are looking both forward and backward at uncertainties that will have a substantial impact on their business. ... http://www.schneiderdowns.com/Continuing_Uncertainty_for_Home_Builders Tue, 03 Nov 2009 00:00:00 EST Using Software Simulation Tools to Streamline Your Processes Software simulation tools are used for the re-creation or reproduction of a particular condition using software for trending, analysis, and forecasting purposes. [2] By utilizing software simulation ... http://www.schneiderdowns.com/Using_Software_Simulation_Tools_to_Streamline_Your_Processes Mon, 02 Nov 2009 00:00:00 EST This earnings season, cost-cutting has dominated headlines. With sales slumping during the economic downturn, companies such as Pfizer, Sherwin-Williams, The New York Times Company, Altria Group, Yahoo! and Hasbro have implemented effective cost-cutting ... http://www.schneiderdowns.com/Adding_by_Subtraction Mon, 02 Nov 2009 00:00:00 EST Mention the term “lean manufacturing” and any one of a variety of ideas may come to mind. Some will think of the early days of “just-in-time inventory” or the revolutionary manufacturing efficiency ideas of the Toyota Production ... http://www.schneiderdowns.com/Lean_Mfg_State_of_Mind Fri, 30 Oct 2009 00:00:00 EST In September 2009, the Institute of Internal Auditors (IIA) issued a Global Audit Information Network (GAIN) Knowledge Report titled Measuring Internal Audit Performance. The report focuses on leading practices in capturing and evaluating internal audit ... http://www.schneiderdowns.com/IA_Performance_Metrics Wed, 28 Oct 2009 00:00:00 EST Prime Advantage, the leading buying consortium for mid-sized industrial manufacturers, announced the findings from its fourth Prime Advantage Group Outlook Survey, revealing the top economic concerns for mid-sized industrial manufacturers for the remainder ... http://www.schneiderdowns.com/Mfg_Outlook_2009 Tue, 27 Oct 2009 00:00:00 EST Donald R. Owens, director of internal audit and risk advisory services, was interviewed by Business First on risk management. The article, "Companies seeking better way to gauge economic red flags," references ways in which companies are taking ... http://www.schneiderdowns.com/Don_Owens_Speaks_with_Business_First_on_Risk_Management Fri, 23 Oct 2009 00:00:00 EST Who is the best quarterback in the NFL? After 6 weeks in the current season, many may argue that Brett Favre is the best quarterback after leading Minnesota to a 6-0 start. We here in Pittsburgh would suggest that Ben Roethlisberger is the best after ... http://www.schneiderdowns.com/IT_Service_Management Thu, 22 Oct 2009 00:00:00 EST The Department of Labor (DOL) recently released details related to new rules requiring the electronic filing of Form 5500, Annual Return/Report of Employee Benefit Plan, for all employer sponsored retirement, 403(b) and welfare plans. Effective January ... http://www.schneiderdowns.com/Filing_Form_5500 Thu, 22 Oct 2009 00:00:00 EST An amendment added to the American Clean Energy and Security Act of 2009, which essentially calls for all energy commodity hedging to be moved to exchanges, would have a devastating impact on the American oil and gas industry. The Independent Petroleum ... http://www.schneiderdowns.com/Waxman-Markey_Bill Tue, 20 Oct 2009 00:00:00 EST There’s a good chance your supply chain has been stretched and over the past two years, perhaps pulled almost to its breaking point. Tight credit markets, sluggish consumer demand, increased material costs, and reduced inventories have forced organizations ... http://www.schneiderdowns.com/Weakest_Link Tue, 20 Oct 2009 00:00:00 EST Pennsylvania will offer tax amnesty for the period beginning on April 26, 2010 and concluding on June 18, 2010 for all taxes administered by the Pennsylvania Department of Revenue for unknown tax liabilities that are delinquent as of June 30, 2009. Unknown ... http://www.schneiderdowns.com/Pennsylvania_Tax_Amnesty Mon, 19 Oct 2009 00:00:00 EST Managing Your Financial Institution Relationships Recent economic events have caused businesses to reevaluate their relationships with service providers and customers. Financial institutions are no exception to this. Your financial institution is a major ... http://www.schneiderdowns.com/Managing_Your_Financial_Institution_Relationships Mon, 19 Oct 2009 00:00:00 EST The recent passage of the Pennsylvania state budget included the following corporate tax changes: Net Operating Losses · For taxable years beginning after December 31, 2008, the net operating loss will be the greater of 15% of the taxable income ... http://www.schneiderdowns.com/Pennsylvania_Corporate_Tax_Update Mon, 19 Oct 2009 00:00:00 EST With the Dow Jones Industrial Average closing over the 10,000 level this week for the first time in over a year, the media was sure to notice. This event raises a question for investors of whether, on a fundamental or a technical basis, rising above Dow ... http://www.schneiderdowns.com/Dow_Hits_10000 Fri, 16 Oct 2009 00:00:00 EST Amnesty is open to all taxpayers who are required to file a return or remit any tax administered or collected by the Virginia Department of Taxation with the following exceptions: Taxpayers currently under investigation or prosecution for filing a fraudulent ... http://www.schneiderdowns.com/Virginia_Tax_Amnesty_ Tue, 13 Oct 2009 00:00:00 EST Tom Harvey, Director of Human Resources at Schneider Downs, was awarded the Human Resources Leadership Award by the Pittsburgh Business Times. This is the first year that the Pittsburgh Business Times recognized Human Resources professionals with this ... http://www.schneiderdowns.com/Harvey_Wins_HR_Leadership_Award Fri, 09 Oct 2009 00:00:00 EST With all that has transpired over the past several years, Governance, Risk Management and Compliance (GRC) can no longer operate in separate silos. Though distinct disciplines, they must be integrated with one another to be effective. In comparing organizations, ... http://www.schneiderdowns.com/Governance__Risk_Management_and_Compliance Thu, 08 Oct 2009 00:00:00 EST For cost-conscious nonprofits, it may seem like a necessary decision to postpone software investments, in order to trim your budget. However tempting that might be, it is important to weigh the pros and cons of making this decision. Technology is a long-term ... http://www.schneiderdowns.com/Harnessing_Technology_to_Further_Your_Mission Thu, 08 Oct 2009 00:00:00 EST While it is sometimes true in the financial world that “Past performance is not necessarily indicative of future results,” looking at history can show us that the private capital markets do follow trends in the public markets. For example, ... http://www.schneiderdowns.com/Capital_Markets Wed, 07 Oct 2009 00:00:00 EST Joel M. Rosenthal, Shareholder and Director of Schneider Downs Business Advisors, completed an intensive training and testing process to receive a Certified Valuation Analyst (CVA) certification. As stated by the NACVA (National Association of Certified ... http://www.schneiderdowns.com/Rosenthal_CVA Fri, 02 Oct 2009 00:00:00 EST Schneider Downs Corporate Finance, LP is hosting its annual seminar on November, 4, 2009 at the Duquesne Club in Pittsburgh, PA. After the most challenging 12 months for the financial markets in a generation, the emerging economic recovery may provide ... http://www.schneiderdowns.com/Seminar_SDCF09 Thu, 01 Oct 2009 00:00:00 EST Traditionally, the basic financial statements: balance sheet, income statement, and statement of cash flows, receive the most attention from users of financial statements such as owners and lenders. A surety, on the other hand, is most interested in the ... http://www.schneiderdowns.com/Financial_Statements Fri, 25 Sep 2009 00:00:00 EST Don Linzer, CEO of Schneider Downs Wealth Management Advisors, was recently interviewed by the Wall Street Journal on the topic of getting back in the habit of personal savings. The article, "Saving Again? Here's a Way to Do It Right," focused ... http://www.schneiderdowns.com/Linzer_WSJ Wed, 23 Sep 2009 00:00:00 EST Due to security measures surrounding the G-20 Summit, the Pittsburgh office of Schneider Downs will be operating from remote locations on September 24 and 25. While we will not have full access to our building, we will remain open for business. Our firm ... http://www.schneiderdowns.com/SD_G20 Tue, 22 Sep 2009 00:00:00 EST Today, the Internal Revenue Service (IRS) announced a one-time extension of the deadline for special voluntary disclosures by taxpayers with unreported income from offshore accounts. These taxpayers will now have until October 15, 2009 to comply with ... http://www.schneiderdowns.com/Offshore_Extension Mon, 21 Sep 2009 00:00:00 EST Beware of any email that you receive posing as correspondence from the Internal Revenue Service (IRS) as our firm has seen an increase in the number of these phony e-mails. These e-mails may claim that the taxpayer is eligible for a tax refund or that ... http://www.schneiderdowns.com/IRS_email_scam Fri, 18 Sep 2009 00:00:00 EST Manufacturers whose activities consist of the development of new or improved business products or processes may be eligible for federal and/or state research and development credits. Internal Revenue Code Section 41 provides for two primary methods of ... http://www.schneiderdowns.com/Manufacturing_Claim Thu, 17 Sep 2009 00:00:00 EST As the federal government threatens to rain down more retirement plan regulations, plan sponsors would be well advised to take preemptive action regarding how their plans and participants are being served. Simply attempting to offer the “best funds” ... http://www.schneiderdowns.com/Service_Attention Thu, 17 Sep 2009 00:00:00 EST On September 11th, Don Applegarth wrote an article, "Could G-20’s lasting legacy be global accounting standards?," for The Pittsburgh Business Times to explain that International Financial Reporting Standards (IFRS) has the opportunity ... http://www.schneiderdowns.com/G-20_IFRS Mon, 14 Sep 2009 00:00:00 EST Are your clients and business partners having conversations right under your nose? Chances are your product, service or industry is already tapping into Web 2.0, whether you are aware or not. From Google, to Facebook, Twitter and beyond, your clients ... http://www.schneiderdowns.com/Social_Networking Mon, 14 Sep 2009 00:00:00 EST Wow, what a concept. Over? It was just one year ago this week that the U.S. government took control of Fannie Mae and Freddie Mac. Within a few days, Lehman Brothers declared bankruptcy and the government seized AIG. The world equity markets recoiled ... http://www.schneiderdowns.com/great_recession Fri, 11 Sep 2009 00:00:00 EST A message to recent college graduates who are entering the workplace (and anyone else who may be interested in achieving success!): At the start of your journey as a professional, it is likely that despite your decade and a half of classroom education, ... http://www.schneiderdowns.com/Get_a_Mentor Thu, 10 Sep 2009 00:00:00 EST Some simple steps to minimize the potential of funds misappropriation Although high-profile financial statement frauds have consistently dominated the headlines throughout this decade, asset misappropriation schemes, including disbursements fraud, occur ... http://www.schneiderdowns.com/Disbursements_Fraud__Mitigation_Basics Tue, 08 Sep 2009 00:00:00 EST Raymond W. Buehler, President and CEO of Schneider Downs, was quoted in the Pittsburgh Tribune Review on Sunday, September 6, 2009. Buehler discussed the firm's plans for its employees during the G-20 summit in the article, "Employers to relieve ... http://www.schneiderdowns.com/Buehler_Trib_6609 Tue, 08 Sep 2009 00:00:00 EST During an audit, the auditor has always had a responsibility to evaluate whether there is substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. Auditing standards further defined a reasonable period ... http://www.schneiderdowns.com/Going_Concern Tue, 08 Sep 2009 00:00:00 EST Schneider Downs announces that Stephen Thimons has been named a manager for Schneider Downs Business Advisors. Thimons will focus on litigation support and business valuation services. “Steve brings an outstanding background to Schneider Downs Business ... http://www.schneiderdowns.com/Thimons Tue, 08 Sep 2009 00:00:00 EST I have to start this posting by congratulating all dealers and those servicing the auto industry for weathering such a turbulent time. I am more impressed than ever by the resiliency and ability of our clients in particular who have navigated through ... http://www.schneiderdowns.com/751_php Wed, 02 Sep 2009 00:00:00 EST Given the current state of the economy and the possibility of increased bad debts, it is important to recognize that your organization might be able to recover the sales tax related to bad debt write-offs. If the following three criteria are met, you ... http://www.schneiderdowns.com/Bad_Debt Wed, 02 Sep 2009 00:00:00 EST In the next several weeks, finance ministers from the G-20 nations will convene in London in advance of the 2009 Pittsburgh Summit where the G-20 heads of state will meet. The agenda for both meetings seek to find ways to correct the world economic crisis. ... http://www.schneiderdowns.com/g20_release Tue, 01 Sep 2009 00:00:00 EST As the G-20 heads of state travel through Western Pennsylvania later this month, many will observe some very familiar corporate logos. Why? Because those logos represent Pennsylvania-grown, but internationally owned, companies with headquarters in Germany, ... http://www.schneiderdowns.com/International_Buyers Tue, 01 Sep 2009 00:00:00 EST Transfer pricing is a worldwide tax concern. Most countries implement and document a transfer pricing policy in accordance with Organisation for Economic Corporation and Development (OECD) Guidelines, but there are differences among the various countries. ... http://www.schneiderdowns.com/Global_Transfer_Pricing Tue, 01 Sep 2009 00:00:00 EST As the City of Pittsburgh prepares for the G-20 Summit in September 2009, the expression, “The World Got Small,” really hit home with me. What a great honor for Pittsburgh to host such a prestigious international event. The economic impact ... http://www.schneiderdowns.com/Small_World Tue, 01 Sep 2009 00:00:00 EST In recent years, there have been numerous studies by Congressional committees relative to reform of the US international tax regime. One of the major concerns is that US businesses are becoming less competitive in the global economy due to restrictive ... http://www.schneiderdowns.com/Budget_Proposals Tue, 01 Sep 2009 00:00:00 EST With the proliferation of business information systems, data has become the raw material of the information economy. When one considers the reliance that organizations place on the accuracy of data in their information systems, it is a surprise to learn ... http://www.schneiderdowns.com/Increase_Revenues_and_Reduce_Costs_Through_Effective_Data_Quality_Management Mon, 31 Aug 2009 00:00:00 EST Whether it is manufacturing, retail or natural gas, the law of supply and demand is always in play. Currently, natural gas pricing per the Henry Hub is almost 44% less since the start of 2009 and the lowest price since September 2002. What is driving ... http://www.schneiderdowns.com/Natural_Gas_Supply_Demand Fri, 28 Aug 2009 00:00:00 EST Predominant or Primary Use – What Does It Mean? As technology advances and manufacturing processes evolve, more manufacturers are using machinery and equipment in multiple ways to streamline their operations. Frequently, manufacturers find themselves ... http://www.schneiderdowns.com/Dual_Use Fri, 28 Aug 2009 00:00:00 EST Deadline for Comments is September 30 On August 20, 2009, the International Accounting Standards Board published an exposure draft which proposes amendments to International Accounting Standard (IAS) 19 “Employee Benefits.” The proposed amendment ... http://www.schneiderdowns.com/IASB_exposure Tue, 25 Aug 2009 00:00:00 EST On August 19, the Internal Revenue Service (IRS), Swiss bank UBS AG and the Swiss government reached an agreement to settle a tax dispute in which the IRS was requesting UBS to disclose the names on up to 52,000 offshore accounts held in the Swiss bank ... http://www.schneiderdowns.com/IRS_UBS_AG Mon, 24 Aug 2009 00:00:00 EST A 401(k) plan without adequate planning tools and processes is like a bag of groceries without a cookbook; great possibilities exist, but the odds of acceptable outcomes are greatly diminished. How do plan sponsors who genuinely believe their employees ... http://www.schneiderdowns.com/Best_Practices401k Mon, 24 Aug 2009 00:00:00 EST On July 29, 2009, the Commonwealth Court of Pennsylvania ruled that magnetic resonance imaging (MRI) equipment and positron emission tomography/computerized tomography (PET/CT) scan equipment are “real estate” for Pennsylvania sales tax purposes ... http://www.schneiderdowns.com/PA_Tax_on_MRI_Equipment Fri, 21 Aug 2009 00:00:00 EST As a company advisor at Pennsylvania Free Enterprise Week (PFEW), I served as the mentor/consultant to a group of high school students brought together to form a “company.” These students ran their “company,” competing against ... http://www.schneiderdowns.com/Pennsylvania_Free_Enterprise_Week_A_Truly_Unique_Experience Thu, 20 Aug 2009 00:00:00 EST Schneider Downs launches SD ezFORM, a web-based solution developed by Schneider Downs for nonprofit organizations to minimize the burden of information gathering required in connection with the preparation of a complete and accurate 2008 Form 990. The ... http://www.schneiderdowns.com/news_ezform Wed, 19 Aug 2009 00:00:00 EST In my mind, true success of a business begins with each employee’s complete understanding of the company’s goals and mission. This can be gleaned through asking such questions as: What does our brand stand for? And what needs to be done on ... http://www.schneiderdowns.com/commun_intern Tue, 18 Aug 2009 00:00:00 EST Columbus Business First recently asked Peter Lieberman, Managing Director of Schneider Downs Corporate Finance, LP for his thoughts on the question: Once the economy improves, what will corporate buyout financing look like? ... http://www.schneiderdowns.com/Peter_Lieberman_Discusses_Corporate_Buyout_Financing_in_Business_First Tue, 18 Aug 2009 00:00:00 EST As the sponsor of an employee benefit plan (which include 401(k), profit sharing and defined benefit plans) under the Employee Retirement Income Security Act (ERISA), you, the employer, have certain fiduciary responsibilities. These fiduciary responsibilities ... http://www.schneiderdowns.com/What_is_Your_Fiduciary_Responsibility_as_a_Plan_Sponsor_ Mon, 17 Aug 2009 00:00:00 EST In response to concerns raised by various parties, the US Department of Labor’s Employee Benefits Security Administration (EBSA) has provided transition relief for 403(b) plan administrators that make good-faith efforts to transition to the 2009 ... http://www.schneiderdowns.com/403(b) Wed, 12 Aug 2009 00:00:00 EST Although no official guidance has been issued by the Pennsylvania Department of Revenue, the Commonwealth is taking the position that a credit received by a buyer as part of the Car Allowance Rebate System (CARS) is part of the trade-in deduction when ... http://www.schneiderdowns.com/CARS_Rebate_PA Tue, 11 Aug 2009 00:00:00 EST Should a recent graduate’s number-one selling point with a recruiter be his or her GPA? In most cases, yes; however, what exactly does a GPA tell us? It does measure a student’s ability to study and understand their course work, but does it ... http://www.schneiderdowns.com/Grades Tue, 11 Aug 2009 00:00:00 EST On Thursday, July 16, the Schneider Downs Nonprofit Industry Service Group hosted its biannual Nonprofit Symposium. This full-day event was held at the Pittsburgh Marriott City Center. There were over 130 registrants, consisting of clients and friends ... http://www.schneiderdowns.com/nonprofit_symposium Tue, 11 Aug 2009 00:00:00 EST Late on Friday, August 7, 2007, the Internal Revenue Service (IRS) issued Notice 2009-62, again extending the due date for 2008 and earlier calendar-year Treasury Forms TD F 90-22.1, Report of Foreign Bank and Financial Accounts, (FBAR), for certain specified ... http://www.schneiderdowns.com/FBAR_Extension Mon, 10 Aug 2009 00:00:00 EST As global leaders prepare to descend upon Pittsburgh during the September 24 – 25 G-20 Summit, the International Federation of Accountants (IFAC) is expecting global accounting standards to be on the agenda. IFAC has urged G-20 leaders to utilize ... http://www.schneiderdowns.com/IFRS_and_G-20 Mon, 10 Aug 2009 00:00:00 EST As we pass the mid-year point of 2009, on-line crime and security vulnerabilities continue to grow. A recent Mid-Year Security Report by CISCO reports that “criminals are mimicking the practices embraced by successful legitimate businesses to reap ... http://www.schneiderdowns.com/Phishing_Security Tue, 04 Aug 2009 00:00:00 EST Watch out Generation X, because Gen Y is on the rise. We’re young, smart, and (almost) ready to work. Totaling 75 million, the first round of us is coming to a business near you. Though some have said that, unlike the generations before us, we ... http://www.schneiderdowns.com/GenY Mon, 03 Aug 2009 00:00:00 EST It is about 3 o’clock in the afternoon, and I am just now waking up from a nap. The only other thing I did this morning was enjoy a leisurely lunch with friends at the school cafeteria free of charge with my campus job. After getting up, I pack ... http://www.schneiderdowns.com/Real_World Fri, 31 Jul 2009 00:00:00 EST The Internal Revenue Service (IRS) has directed a voluntary disclosure program specifically for U.S. taxpayers (both individuals and entities) who have failed to report the existence of, and pay tax on, income tax from foreign accounts. The goal of this ... http://www.schneiderdowns.com/FBAR_Update Fri, 31 Jul 2009 00:00:00 EST Twitter is a social networking and micro-blogging service that provides its users with a means to quickly update their followers (twitter speak for network) about what they are doing, what they are reading and what they are seeing. These text-based posts ... http://www.schneiderdowns.com/Twitter Thu, 30 Jul 2009 00:00:00 EST Recently I attended the AICPA Major Firms Conference that was held at the Ritz Carlton in Laguna Niguel, CA. The Major Firms Group is a distinguished group of the top 75 accounting firms in the country, of which Schneider Downs & Co. is a proud member. ... http://www.schneiderdowns.com/major_firms Thu, 30 Jul 2009 00:00:00 EST Many HR professionals are in a tug of war. The war is between providing high value skills and services to your company and employees; and processing the routine and mundane paperwork associated with human resources, employee training, recruiting and payroll. ... http://www.schneiderdowns.com/Reduce_HR_Costs Wed, 29 Jul 2009 00:00:00 EST The Energy Tax Incentives Tax Act of 2005, as amended by 2006 and 2008 tax legislation, provides a deduction for qualifying energy efficient property that is placed in service after December 31, 2005 and before January 1, 2014 (IRC Section 179D). Qualifying ... http://www.schneiderdowns.com/Section_179D Tue, 28 Jul 2009 00:00:00 EST Rivaling labor as a significant operating cost in the trucking industry are fuel costs. With the rising price of fuel over the past two years, trucking companies have had to seek ways to offset these increases through such means as fuel surcharge programs ... http://www.schneiderdowns.com/Fuel_Hedging Tue, 28 Jul 2009 00:00:00 EST For the past five years, the International Accounting Standards Board (IASB) has been working on an International Financial Reporting Standard (IFRS) for small or mid-sized companies. On July 9, 2009, the IASB issued “IFRS for SMEs.” IFRS ... http://www.schneiderdowns.com/IFRS_for_SMEs Tue, 28 Jul 2009 00:00:00 EST The American Reinvestment and Recovery Act of 2009 (ARRA) was established to “create and save jobs, jumpstart our economy and build the foundation for long-term economic growth.” The federal government will meet many of these objectives by ... http://www.schneiderdowns.com/The_American_Reinvestment_and_Recovery_Act__Is_your_business_in-the-know_ Tue, 28 Jul 2009 00:00:00 EST On my first day of Accounting, my professor hands out the course syllabus, while the class listens intently. All of a sudden two words catch everyone’s attention: “group project.” Now this was not your typical group project; this project ... http://www.schneiderdowns.com/Teamwork Thu, 23 Jul 2009 00:00:00 EST On June 24, President Obama signed the Consumer Assistance to Recycle and Save (aka, Cash for Clunkers) bill. The bill provides incentives to owners of high-polluting automobiles to replace them with new fuel-efficient and less-polluting automobiles. ... http://www.schneiderdowns.com/Cash_for_Clunkers_Bill Mon, 20 Jul 2009 00:00:00 EST At a recent Financial Crisis Advisory Group meeting, Financial Accounting Standards Board (FASB) Chair Robert Herz stated that full U.S. GAAP and International Financial Reporting Standards (IFRS) convergence could still be 10 – 15 years away. Chair ... http://www.schneiderdowns.com/IFRS_Convergence Thu, 16 Jul 2009 00:00:00 EST The Republicans in the Pennsylvania House of Representatives released their budget proposal on July 10, 2009. One of the most controversial aspects of the $27.3 billion budget proposal is the tax amnesty program. The House Republicans believe that the ... http://www.schneiderdowns.com/Tax_Amnesty_PA Thu, 16 Jul 2009 00:00:00 EST On July 9, 2009, over 140 audit and tax professionals from Schneider Downs’ Pittsburgh and Columbus offices met at the Oglebay Resort and Conference Center in Wheeling, West Virginia to discuss the overall state of the not-for-profit community, ... http://www.schneiderdowns.com/2009_Nonprofit_Training_Seminar Wed, 15 Jul 2009 00:00:00 EST Schneider Downs will host an all-day Nonprofit Forum on Wednesday, August 12 at the Columbus State Workforce Development Center. The forum, designed specifically with the unique needs of nonprofit organizations in mind, will address: Tax and Form 990 ... http://www.schneiderdowns.com/Schneider_Downs_Invites_Ohio_Nonprofit_Organizations_to_Full-Day_Forum Wed, 15 Jul 2009 00:00:00 EST When you think about the normal roles and responsibilities of an intern, a couple of things normally come to mind: making photocopies, scanning documents and getting coffee for the team. However, here at Schneider Downs, this could not be further from ... http://www.schneiderdowns.com/InternExp_2009 Tue, 14 Jul 2009 00:00:00 EST On May 22, 2009, the Financial Accounting Standards Board (FASB) approved FASB Statement No. 164, Not-for-Profit Entities: Mergers and Acquisitions, (SFAS 164), for transactions occurring on or after December 15, 2009. The purpose of this statement is ... http://www.schneiderdowns.com/Not-for-Profit_Acquisitions_to_Become_Clearer_and_More_Comparable Mon, 13 Jul 2009 00:00:00 EST On June 8, 2009, the Financial Accounting Standards Board (FASB) released proposed FASB Staff Position, 157-G, “Estimating the Fair Value of Investments in Investment Companies That Have Calculated Net Asset Value per Share in Accordance with the ... http://www.schneiderdowns.com/157G Fri, 10 Jul 2009 00:00:00 EST Whether or not to convert a traditional IRA to a Roth IRA has been a question that many individuals have asked this year. Unfortunately, there is not a clear cut “yes” or “no” answer. There are many factors to consider before converting ... http://www.schneiderdowns.com/Roth_IRA Fri, 10 Jul 2009 00:00:00 EST The Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 165, “Subsequent Events,” (FAS 165) on May 28, 2009. The subsequent events project was to incorporate accounting guidance that originated ... http://www.schneiderdowns.com/FASB_Subsequent_Events Thu, 09 Jul 2009 00:00:00 EST The Financial Accountancy Standards Board (FASB) issued FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R (FAS 167), amending the consolidation guidance for variable-interest entities under FIN 46(R. This comes as a response to perceived ... http://www.schneiderdowns.com/Guidance_for_Variable_Interest_Entities Thu, 09 Jul 2009 00:00:00 EST In a Sunday interview with ABC News’ “This Week,” Vice President Biden said the Obama administration misread how bad the economy was and didn’t foresee the potentially double-digit unemployment levels. (With comments like these, ... http://www.schneiderdowns.com/Obama_Stimulus_Update Wed, 08 Jul 2009 00:00:00 EST Maintaining computer security is essential for every business to protect and secure its assets, and computer security models can help companies specify and enforce corporate security policies. A security policy is a set of rules and practices that dictates ... http://www.schneiderdowns.com/security_model Tue, 07 Jul 2009 00:00:00 EST But is the iPhone ready for the business world? In a market dominated by Research In Motion’s (RIM) BlackBerry, Apple has been slowly taking a bite out of the BlackBerry corporate market share. The gap between iPhone and BlackBerry in the business ... http://www.schneiderdowns.com/iphone Tue, 07 Jul 2009 00:00:00 EST A week after the publication of IRS Notice 2009-46 requesting comments on several proposals to simplify procedures for reporting personal use of employer-provided cell phones, IRS Commissioner Doug Shulman released a statement asking Congress to permanently ... http://www.schneiderdowns.com/bberry_prob Mon, 06 Jul 2009 00:00:00 EST Nancy Skeans, Managing Director and Partner at Schneider Downs Wealth Management Advisors, discussed TIPS with Len Boselovic in the Pittsburgh Post-Gazette article, "TIPS can provide inflation protection." ... http://www.schneiderdowns.com/Skeans_TIPS Sun, 05 Jul 2009 00:00:00 EST In light of the current economic environment, the time might be right for you to consider estate planning. While your business’s value might be less right now due to poor economic conditions, one positive is that it is a great opportunity for you ... http://www.schneiderdowns.com/benefit_of_donating_stock Thu, 02 Jul 2009 00:00:00 EST After finishing up orientation on Friday, June 26, 2009, the summer interns were set afloat. After meeting their appointed staff member and finding their desk, Human Resources treated them to lunch and a unique tour of Pittsburgh. In order to get to know ... http://www.schneiderdowns.com/Interns_Ducky Wed, 01 Jul 2009 00:00:00 EST Schneider Downs declared its independence from styrofoam today and encouraged all employees to drink coffee, tea, water and pop from reusable mugs. As part of the firm’s green initiative, employees were greeted this morning with a mug that featured ... http://www.schneiderdowns.com/Mugs Wed, 01 Jul 2009 00:00:00 EST Schneider Downs Wealth Management Advisors, LP has announced it has promoted Managing Director Nancy Skeans, CPA, CFP®, to Partner at the Pittsburgh-based investment advisory firm. The promotion is effective July 1, 2009. “Nancy’s promotion ... http://www.schneiderdowns.com/Skeans_Promotion Wed, 01 Jul 2009 00:00:00 EST Schneider Downs Wealth Management Advisors, LP has announced it has promoted Columbus-based Managing Director Jeffery A. Acheson, QPFC, to Partner. Mr. Acheson oversees the firm’s wealth management practice in Columbus, Ohio, and is a leader in ... http://www.schneiderdowns.com/Acheson_Promotion Wed, 01 Jul 2009 00:00:00 EST The Not for Profit Focus Group of Schneider Downs & Co., Inc. recently co-sponsored an annual update and future outlook workshop on Friday June 19, 2009 at the Regional Learning Alliance in Cranberry Township, in conjunction with the Pittsburgh Area ... http://www.schneiderdowns.com/Nonprofit_Accounting_EACUBO_1 Tue, 30 Jun 2009 00:00:00 EST Media coverage of recent high-profile celebrity deaths may prompt people to take inventory of their own estate plans. Executing an updated will helps you and your family to prepare for the unexpected. Not having a will can have unintentional consequences ... http://www.schneiderdowns.com/Will Tue, 30 Jun 2009 00:00:00 EST The AICPA’s Accounting and Review Services Committee (ARSC) issued an exposure draft in April for public comment regarding proposed changes to Statements on Standards for Accounting Review Services (SSARS). Business owners engaging accountants to ... http://www.schneiderdowns.com/Review_and_Compilation_Services Tue, 30 Jun 2009 00:00:00 EST What will ARRA do for your company? We hear so much about the Stimulus Act (American Recovery and Reinvestment Act of 2009, or ARRA), but what does it really mean for manufacturers? There are a number of tax provisions that apply to businesses, and now ... http://www.schneiderdowns.com/Tax_Update_for_Manufacturers Tue, 30 Jun 2009 00:00:00 EST The Internal Revenue Service (IRS) has announced that it will permit taxpayers who meet certain requirements to file Form TD F 90-22.1, the Report of Foreign Bank and Financial Accounts (FBAR), by September 23, 2009 without facing penalties. Background ... http://www.schneiderdowns.com/IRS_FBAR_Extension Mon, 29 Jun 2009 00:00:00 EST On June 23, 2009, the Pennsylvania House Environmental Resources and Energy Committee passed House Bill 1489 - The Natural Resources Severance Tax Act. The bill, which proposes to place a 5% severance tax per reporting period on the gross value of natural ... http://www.schneiderdowns.com/Natural_Gas_PA_Tax Fri, 26 Jun 2009 00:00:00 EST While many different parties have fiduciary responsibility for ERISA plans, members of the plan's management have particular responsibilities, one of which is financial reporting. Some of the areas that management should be monitoring include the following: ... http://www.schneiderdowns.com/Fiduciary_Financial Fri, 26 Jun 2009 00:00:00 EST Do you know who the largest “customer” in the world is? Well, it is the United States Government. The U.S. Government purchases more than $425 billion (that’s a “b” for billion) a year in goods and services from organizations ... http://www.schneiderdowns.com/Small_Business_Opp Thu, 25 Jun 2009 00:00:00 EST Ohio Departments Assign “Vendor” Status to Providers Receiving Medicaid and State Children’s Insurance Program Funding In June 2009, the Ohio Department of Alcohol and Drug Addiction Services (ODADAS) and the Ohio Department of Mental ... http://www.schneiderdowns.com/Ohio_Medical_Assistance_Program Wed, 24 Jun 2009 00:00:00 EST The purpose of this Alert is to advise U.S. persons who may have owned an interest in a private investment fund organized outside of the United States at any time during 2008 of the requirement to report such ownership to the U.S. Treasury on Form TD ... http://www.schneiderdowns.com/Expanded_Foreign_Bank_Account_Report_Requirements Wed, 24 Jun 2009 00:00:00 EST One of the often overlooked federal income tax incentives for U.S. manufacturers with export sales involves the use of a Domestic International Sales Corporation (DISC). Generally, a DISC is a regular domestic corporation that makes a special election ... http://www.schneiderdowns.com/Manufacturers_DISC Wed, 24 Jun 2009 00:00:00 EST The stimulus package signed by President Obama earlier this year provides businesses with two valuable tax incentives in the form of enhanced expensing and bonus depreciation for fixed asset additions. These accelerated depreciation expenses are only ... http://www.schneiderdowns.com/Tax_Incentives_for_Enhanced_Expensing_ Wed, 24 Jun 2009 00:00:00 EST This year’s annual PICPA Not-For-Profit Conference was held June 15 and 16 and featured both a new venue – moving from Hershey to Harrisburg – and also a new format that included break-out sessions. Over 250 individuals from both the ... http://www.schneiderdowns.com/PICPA_Conference_Notes Wed, 24 Jun 2009 00:00:00 EST Jeff Acheson, Managing Director of Schneider Downs Retirement Advisors, was interviewed on American Public Media's Marketplace Morning Report. Acheson was featured in the story, "Small fees pecking away at nest eggs," and discussed Congressman ... http://www.schneiderdowns.com/Marketplace_Acheson Wed, 24 Jun 2009 00:00:00 EST (Pittsburgh, PA)—Schneider Downs & Co., Inc., one of the 50 largest certified public accounting and business advisory firms in the United States, announces that Ted M. Pettko, CPA has been promoted to Shareholder in the Pittsburgh office. The ... http://www.schneiderdowns.com/Shareholder_2009 Mon, 22 Jun 2009 00:00:00 EST On July 16, 2009, Pennsylvania Gov. Ed Rendell proposed an increase in the state personal income tax to 3.57% from the current rate of 3.07%. The governor proposed increasing the tax for the next three years, saying that the temporary increase in income ... http://www.schneiderdowns.com/Rendell_Tax_Increase Fri, 19 Jun 2009 00:00:00 EST On May 18, 2009, the Financial Accounting Standards Board released proposed staff position FSP FIN 48-d, Application Guidance for Pass-Through Entities and Tax-Exempt Not-for-Profit Entities and Disclosures Modifications for Nonpublic Entities. The proposed ... http://www.schneiderdowns.com/fin48 Tue, 16 Jun 2009 00:00:00 EST Tom Harvey, director of human resources at Schneider Downs, comments to Business First on how the firm is looking inward in 'HR managers cope with dark side of profession, assume bigger role'. ... http://www.schneiderdowns.com/Harvey_June_12__2009 Mon, 15 Jun 2009 00:00:00 EST Henry Syzmanski, Director of the automotive group at Schneider Downs, was quoted in the Pittsburgh Business Times article, "GM sets strict standards for remaining dealerships." ... http://www.schneiderdowns.com/In_the_News__Henry_Szymanski Fri, 12 Jun 2009 00:00:00 EST Pittsburgh, PA – Tricia Warrick, Managing Director of Schneider Downs Corporate Finance, LP, an investment banking and strategic advisory firm in Pittsburgh, PA, has been named President of the Association of Corporate Growth’s Pittsburgh ... http://www.schneiderdowns.com/Warrick_ACG Fri, 12 Jun 2009 00:00:00 EST Most successful middle market companies have mastered the art of growing their companies organically. Management teams are built around product and industry knowledge and are extremely proficient in their field. However, many mid-market companies have ... http://www.schneiderdowns.com/Growth_Strategy Fri, 12 Jun 2009 00:00:00 EST All U.S. persons that have a financial interest in or signature or other authority over one or more foreign financial accounts with an aggregate value that exceeds $10,000 at any time during the calendar year are required to file Form TD F 90-22.1, Report ... http://www.schneiderdowns.com/Filing_Deadline_Foreign_Bank Thu, 11 Jun 2009 00:00:00 EST Homeowners can now get federal tax credits for energy efficiency improvements made to their principal residence. The tax credits are available for improvements performed from January 1, 2009 through December 31, 2010. The taxpayer receives a credit for ... http://www.schneiderdowns.com/Energy_Credits Fri, 05 Jun 2009 00:00:00 EST Principal protection, availability of guaranteed interest rates, and optional lifetime guaranteed income riders are some of the advantages inherent in a competitive annuity product from a financially strong insurance company. Is it time to take another ... http://www.schneiderdowns.com/Annuities_-_Bane_or_Benefit_to_Retirement_Planning_ Fri, 05 Jun 2009 00:00:00 EST Written by Patrick Kirsch, Summer Marketing Intern Schneider Downs welcomed its summer interns and summer leadership program participants to the firm with open arms on June 4th. The talented group of promising young professionals spent the day at PNC ... http://www.schneiderdowns.com/interns Fri, 05 Jun 2009 00:00:00 EST Eric Wright, technology advisory services shareholder, discusses 5D modeling software and how firms, particularly those out west, are moving toward this package. The software hosts the ability to link design, cost and schedule considerations into construction ... http://www.schneiderdowns.com/EMW__5D_story__June_5__2009 Fri, 05 Jun 2009 00:00:00 EST In December 2008, the Securities and Exchange Commission (SEC) approved the previously proposed rulings that will require public companies to file financial statements in an interactive data analysis format called Extensible Business Reporting Language ... http://www.schneiderdowns.com/xbrl Wed, 03 Jun 2009 00:00:00 EST Women make up half of the professional workforce. Yet, women represent a mere 14.8% of board seats of Fortune 500 companies, and 11% of Fortune 1000 companies1. Based upon research performed, corporations reap unique benefits from the presence of women ... http://www.schneiderdowns.com/Women_on_Corporate_Boards Wed, 03 Jun 2009 00:00:00 EST On July 1, 2009, U.S. accounting and reporting standards will undergo a major restructuring that hasn’t occurred in over 50 years. The Financial Accounting Standards Board (FASB) Accounting Standards Codification is to officially become the single ... http://www.schneiderdowns.com/Transition_to_FASB_Codification Tue, 26 May 2009 00:00:00 EST In 2006, the Uniform Law Commission (ULC) approved and recommended for enactment in all states the Uniform Prudent Management of Institutional Funds Act of 2006 (known as UPMIFA), which updated expenditure policies for not-for-profit organizations. This ... http://www.schneiderdowns.com/FSP_FAS_117-1 Tue, 26 May 2009 00:00:00 EST Nancy Bromall, Shareholder, was featured in the Pittsburgh Business Times' 2009 Golf Book. Bromall's time on the golf course gives her the opportunity to get to know her clients outside of the boardroom. ... http://www.schneiderdowns.com/Links Fri, 22 May 2009 00:00:00 EST The fundamental premise of interviewing a prospective employee is to keep all questions pertinent – that is, only ask questions that assess the candidate’s ability to perform the job. To that end, federal and some state laws prohibit discrimination ... http://www.schneiderdowns.com/615_php Thu, 21 May 2009 00:00:00 EST As many contractors continue to closely monitor raw material prices, headcount and homebuilder confidence reports while vying for a share of the $787 billion tied to the American Recovery and Reinvestment Act of 2009 (ARRA), speculation continues on whether ... http://www.schneiderdowns.com/Acquisition_Opportunities_Face_New_Accounting_Guidance Thu, 21 May 2009 00:00:00 EST The use of malicious code (malware) to perpetrate financial fraud has risen at an alarming rate. In December of 2008, Sophos, a leading security software and hardware provider, published its 2009 Annual Security Threat Report. The report’s key finding ... http://www.schneiderdowns.com/malware Thu, 21 May 2009 00:00:00 EST In his 2009 State of the Union Address, President Barack Obama said, “To truly transform our economy, to protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable ... http://www.schneiderdowns.com/captrade Fri, 15 May 2009 00:00:00 EST It is impossible to overstate the magnitude of the current economic crisis or the impact that it has had on automobile dealers. Whether you are aligned with a manufacturer in bankruptcy, considering bankruptcy for your dealership, or with a domestic or ... http://www.schneiderdowns.com/auto_impact Thu, 14 May 2009 00:00:00 EST Pittsburgh–Joel Rosenthal, Shareholder and Director of Schneider Downs Business Advisors, spent some time behind bars yesterday as part of the Muscular Dystrophy Association (MDA) Lock-Up. Joel’s crime - having a big heart. To get out of jail, ... http://www.schneiderdowns.com/LockedUp Thu, 14 May 2009 00:00:00 EST Tricia Warrick, Managing Director of Schneider Downs Corporate Finance, was the Pittsburgh Tribune Review's Newsmaker on May 13, 2009. The Newsmakers section recognizes a Pittsburgher who has received an award or a new position in the community or in ... http://www.schneiderdowns.com/Newsmaker_Tricia_Warrick Wed, 13 May 2009 00:00:00 EST On Wednesday April 29, 2009, the Internal Revenue Service released its strategic plan for the years 2009-2013. One of the stated objectives of the strategic plan is to continue a “focused oversight of the tax-exempt sector.” Although the sector ... http://www.schneiderdowns.com/IRSStrategicPlan Tue, 12 May 2009 00:00:00 EST In the current challenging economy, many businesses have been forced to implement cost-cutting measures and/or find efficiencies in order to survive. Whether you are cutting costs through methods such as workforce reduction or seeking to reduce waste ... http://www.schneiderdowns.com/Balancing_Cost-Cutting_Measures_Efficiency_Efforts_and_Risk_Management Tue, 12 May 2009 00:00:00 EST ... http://www.schneiderdowns.com/SHRM_Fremer Mon, 11 May 2009 00:00:00 EST Jeff Acheson, managing director of Schneider Downs Wealth Management Advisors, wrote an editorial that appeared in Columbus Business First. In "Private-sector options, personal involvement can help keep 401(k)s healthy," Acheson reacts to the ... http://www.schneiderdowns.com/60minutes Fri, 08 May 2009 00:00:00 EST On Monday May 4, 2009, at an international tax forum held at the White House, President Obama introduced his plan to crack down on off-shore tax havens and remove tax incentives available to multinational corporations. The current Internal Revenue Code ... http://www.schneiderdowns.com/Obama_Wants_International_Tax_Reform Tue, 05 May 2009 00:00:00 EST Reduce costs, save time, and improve communications through the use of videoconferencing. Whether you’re meeting with a client across town, your associates in a branch office, or connecting with your daughter at college, the time and travel expense ... http://www.schneiderdowns.com/videoconf_php Mon, 04 May 2009 00:00:00 EST In the manufacturing industry, cost accounting is a fundamental requirement for achieving success. To be competitive and profitable, a manufacturer must understand and control the three basic elements of manufacturing costs – direct materials, direct ... http://www.schneiderdowns.com/Understanding_and_Controlling_the_Three_Basic_Elements_of_Manufacturing_Costs Mon, 04 May 2009 00:00:00 EST Pittsburgh, PA – Nationally respected for his experience in the industry, Grant Oliphant, President and Chief Executive Officer of the Pittsburgh Foundation, delivered the keynote address at the Schneider Downs’ Nonprofit Forum on April 29, ... http://www.schneiderdowns.com/Grant_Oliphant_Discusses_Impact_of_the_Economy_on_Nonprofits Mon, 04 May 2009 00:00:00 EST A recent decision by the Commonwealth Court of Pennsylvania stated that the administrative offices of a church were not exempt from Pennsylvania real property taxes. The property in question is a separate parcel of land adjacent to the property that includes ... http://www.schneiderdowns.com/PA_Rules_on_Taxability_of_Church_Property Tue, 28 Apr 2009 00:00:00 EST This INSIGHT was written by Mackenzie Smith an 8th grader who attended Schneider Downs' Take Your Kids to Work Day Take your kid to work day…a day totally dedicated to showing younger kids how their parents work and what they do. Whether they realize ... http://www.schneiderdowns.com/Take_Kids_to_Work_2009 Fri, 24 Apr 2009 00:00:00 EST The American Recovery and Reinvestment Act of 2009 (Recovery Act) is estimated to cost about $787 billion over the next several years. Of the Recovery Act’s total cost, about $280 billion will be administered through states and municipalities. Gene ... http://www.schneiderdowns.com/Recovery_Act_Estimated_to_Cost_$787_Billion Fri, 24 Apr 2009 00:00:00 EST Nancy Skeans, managing director of Schneider Downs Wealth Management Advisors, LP, and Patrick Fisher, an investment advisor at the firm, collaborated on a by-lined article for the Pittsburgh Post-Gazette with the specific target of focusing on the "change ... http://www.schneiderdowns.com/Waiting_for_the_Change_in_Change__ Tue, 21 Apr 2009 00:00:00 EST Schneider Downs suspended its normal business casual dress code today and encouraged employees to don their jeans. All for an important cause. As a fundraiser for Pittsburgh’s Fallen Heroes Fund, Schneider Downs employees donated $5.00 and in exchange ... http://www.schneiderdowns.com/heroes Mon, 20 Apr 2009 00:00:00 EST The overall concepts of fair market value, as well as increased reporting and disclosure transparency, continue to be a focus within the accounting world. This month has been no exception. On April 2, the Financial Accounting Standards Board (FASB) finalized ... http://www.schneiderdowns.com/Interpreting_FAS_157 Fri, 17 Apr 2009 00:00:00 EST New Regulations for Cost Sharing Arrangements Are Now Effective Cost sharing arrangements (“CSA’s”) are agreements among related parties to share the costs of developing intangible property (trademarks, know-how, patents, or similar ... http://www.schneiderdowns.com/Update__Transfer_Pricing_Developments Fri, 17 Apr 2009 00:00:00 EST ... http://www.schneiderdowns.com/leadership Tue, 14 Apr 2009 00:00:00 EST President Obama’s stimulus package (The American Recovery and Reinvestment Act of 2009, ARRA) has been law now for almost 60 days. We all recall the “sky is falling” urgency that the President used to secure passage of the massive $787 ... http://www.schneiderdowns.com/Have_You_Benefited_from_the_Stimulus_Package_ Fri, 10 Apr 2009 00:00:00 EST The Internal Revenue Service (“IRS”) recently announced new steps to encourage U.S. taxpayers with previously undisclosed foreign bank accounts to voluntarily come forward. In return for paying back taxes for the past six years, plus interest ... http://www.schneiderdowns.com/IRS_Cracking_Down_on_Offshore_Bank_Accounts Fri, 10 Apr 2009 00:00:00 EST Barbara Balcita, a tax manager at Schneider Downs, talked with Tim Grant of the Pittsburgh Post-Gazette about the advantages of e-filing tax returns. Balcita offered her thoughts in the article, "Make tax time less taxing." ... http://www.schneiderdowns.com/In_the_News__Barb_Balcita_and_the_Advantages_of_E-filing_Taxes Fri, 10 Apr 2009 00:00:00 EST In September 2006, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standard (SFAS) 157, “Fair Value Measurements.” SFAS 157 established a consistent framework for measuring fair value under generally ... http://www.schneiderdowns.com/SFAS_157_and_Benefit_Plans__Fair_Value_Measurements Thu, 09 Apr 2009 00:00:00 EST On March 30, 2009, President Obama announced that GM’s request for an additional $16 billion had been denied. Instead, GM was to receive only enough funding for working capital needs for the next 60 days and would operate under new management with ... http://www.schneiderdowns.com/President_Obama_Denies_Auto_Bailout_for_GM_and_Chrysler Thu, 09 Apr 2009 00:00:00 EST Has your company evaluated its risks, given the current market? If you’re a public company, you identified risks and documented them as part of your 10K. Whether your company is public or private, have you evaluated the risks identified and determined ... http://www.schneiderdowns.com/Got_Risk_ Thu, 09 Apr 2009 00:00:00 EST Gross Domestic Product (GDP) provides perhaps the broadest reading on the strength of the economy. This measurement estimates the value of all goods and services produced within the United States. One month after each quarter ends, the Bureau of Economic ... http://www.schneiderdowns.com/Measuring_the_Economy Thu, 09 Apr 2009 00:00:00 EST The trucking industry is considered by many to provide leading indicators from a macroeconomic standpoint. So what do we make of the more than 3,000 trucking bankruptcies in 2008? The startling reality is that a single item, the cost of diesel fuel, is ... http://www.schneiderdowns.com/Transportation_Update__More_Challenges_Ahead__ Thu, 02 Apr 2009 00:00:00 EST There have been a number of recent predictions on the overall costs to a company of implementing International Financing Reporting Standards (IFRS). The reality of it is that the costs of converting to IFRS will depend on a company's industry, size, complexity, ... http://www.schneiderdowns.com/IFRS_Conversion_Costs Thu, 02 Apr 2009 00:00:00 EST A recent decision issued by the Pennsylvania Commonwealth Court in the case of EUR Systems, Inc. v. Commonwealth of Pennsylvania (EUR) serves as a reminder to raise any and all pertinent issues at the first level of appeal. In the immediate case, EUR ... http://www.schneiderdowns.com/Constitutional_Issues_and_Tax_Appeals_in_Pennsylvania Thu, 02 Apr 2009 00:00:00 EST No more “stays of execution” appear likely and the possibility for an outright pardon has surely passed. For the non-accelerated filers, 2009 is truly The Year of the s-Ox. Sarbanes-Oxley (i.e., SOX) Section 404 officially kicks into high ... http://www.schneiderdowns.com/The_Year_of_the_sOX_-_Section_404_Update Wed, 01 Apr 2009 00:00:00 EST The Schneider Downs State and Local Tax group has launched a nine-month campaign to highlight nine essential questions every business should know about their state and local tax situation. Schneider Downs will post the questions and answers each month. ... http://www.schneiderdowns.com/salt9in09 Wed, 01 Apr 2009 00:00:00 EST Marc Brdar, a forensic accountant and member of Schneider Downs Business Advisors, was interviewed at length on the topic of forensic accounting in a troubled economy. The Pittsburgh Post-Gazette recently ran a front-page story, "Fraud fighters: ... http://www.schneiderdowns.com/Fraud_Fighting__Brdar_on_Forensic_Accounting Mon, 30 Mar 2009 00:00:00 EST In what seems a rare instance of encouraging news about the economy, the Wall Street Journal reported on March 24 that existing home sales were up 5.1% in February, the largest spike since 2003. Several factors contributed to the increased sales, not ... http://www.schneiderdowns.com/Home_Sales_Surge_Due_to_First_Time_Homebuyer_Credit Wed, 25 Mar 2009 00:00:00 EST Investors are nervous and for good reason. We are experiencing a financial crisis the likes of which most of us have never seen before. It has been marked by the biggest bank failure in American history, large market swings (down and up), a consumer and ... http://www.schneiderdowns.com/Do_You_Have_a_Financial_Plan_ Fri, 20 Mar 2009 00:00:00 EST “So, how’s the economy treating your business?” I get the sense that most of us are asked a variation of the question at least a couple of times each day. Most recently, I was asked this question by a reporter from the Pittsburgh Post-Gazette. ... http://www.schneiderdowns.com/562_php Fri, 20 Mar 2009 00:00:00 EST Protect your position before it is too late. Click here to subscribe to our e-mail updates on topics like this Failure to address issues related to closing purchase adjustment before the execution of a transaction can lead to contention at the day(s) ... http://www.schneiderdowns.com/The_Early_Bird__When_to_Address_Closing_Purchase_Adjustments Fri, 20 Mar 2009 00:00:00 EST Jeff Acheson, managing director, Schneider Downs Wealth Management Advisors LP, spoke with Adrian Burns from Business First about 401(k) plan management and the heightened interest from lawmakers and savers on investment choices and the fees associated ... http://www.schneiderdowns.com/In_the_news__Jeff_Acheson_discusses_401(k)_plan_management_ Wed, 18 Mar 2009 00:00:00 EST Raymond W. Buehler, Jr., President and CEO of Schneider Downs, talked to Len Boselovic from the Pittsburgh Post-Gazette about the economy and Schneider Downs strategy to weather the downturn. Buehler's comments appear in the article "Some companies ... http://www.schneiderdowns.com/552_php Tue, 17 Mar 2009 00:00:00 EST Ron Kramer, Director, was quoted in the Pittsburgh Business Times story, "Tax Incentives offer potential help for small business owners." Mr. Kramer comments on how the economic stimulus package will impact businesses in the Pittsburgh region. ... http://www.schneiderdowns.com/In_the_News__Ron_Kramer_Talks_Stimulus_Package Fri, 13 Mar 2009 00:00:00 EST Click here to register for our e-mail updates. On February 20, 2009 the Pennsylvania Department of Revenue reissued Legal Letter Ruling No. SUT-04-011. The letter ruling specifically addressed the sale of food and beverages by a church during a community ... http://www.schneiderdowns.com/Sales_of_Food_and_Beverages_by_Exempt_Organizations Thu, 12 Mar 2009 00:00:00 EST Click here to subscribe to our email updates The City of Pittsburgh is moving forward with its Rental Registration Program (“RRP”), which requires all “landlords” to register with the City’s Bureau of Building Inspection ... http://www.schneiderdowns.com/Colleges_and_Universities_Subject_to_City_of_Pittsburgh_Rental_Registration_Program Thu, 12 Mar 2009 00:00:00 EST To subscribe to our email mailing list, click here. Impairment charges generally relate to the deterioration of the general economic environment, decline in a company’s share price, decline in market capitalization and adverse financial market ... http://www.schneiderdowns.com/Dealing_with_Goodwill_Impairment Thu, 12 Mar 2009 00:00:00 EST Click here to register for our e-mail subscription program. Pennsylvania State Senator Pat Browne intends to introduce SB 601 that is intended to clarify that a permanent place of business or base of operations is needed to subject a company to a business ... http://www.schneiderdowns.com/Legislation_Targeted_to_Fix_Business_Privilege_Tax_Decision Thu, 12 Mar 2009 00:00:00 EST Subscribe to our e-mail Insights The Educational Improvement Tax Credit (EITC) encourages taxpayers to make donations to qualified organizations by providing tax credits. Applications for fiscal year 2008-09 EITC commenced on July 1, 2008 and will continue ... http://www.schneiderdowns.com/Credits_are_Running_Out__Pennsylvania_Educational_Improvement_Tax_Credit_Program Fri, 06 Mar 2009 00:00:00 EST Is the $787 billion American Recovery and Reinvestment Act of 2009 (“ARRA”), signed into law by President Obama on February 17, good news for the American people? Will the third significant economic stimulus package in what seems like the ... http://www.schneiderdowns.com/Construction_Update__The_Impact_of_the_Stimulus_Package Fri, 06 Mar 2009 00:00:00 EST Nancy L. Bromall, an audit shareholder at Schneider Downs, was recognized as a recipient of the inaugural "Women in Business Awards" by the Pittsburgh Business Times. The awards were created to recognize distringuished leadership and accomplishment ... http://www.schneiderdowns.com/Nancy_Bromall_Receives___Women_in_Business_Award__ Fri, 06 Mar 2009 00:00:00 EST Is the economy forcing you to trim your staff? How sure are you that sensitive data is not walking out the door with your ex-employees? In a recent survey conducted by Cyber-Ark Software, 56% of financial service workers in New York, London and Amsterdam ... http://www.schneiderdowns.com/info_safe Thu, 05 Mar 2009 00:00:00 EST Subscribe to our e-mail updates We have received many inquiries on how and when employers will implement the new “Making Work Pay” credit included in the American Recovery and Reinvestment Act of 2009 (“ARRA”). The credit will ... http://www.schneiderdowns.com/IRS_Release_New_Withholding_Tables Thu, 05 Mar 2009 00:00:00 EST At the 15th annual Association for Corporate Growth Conference in Pittsburgh on February 18, 2009, Knight Kiplinger, Editor in Chief of Kiplinger’s Personal Finance Magazine, shared his insights about the U.S. economic outlook. Mr. Kiplinger estimated ... http://www.schneiderdowns.com/ACG_Conference_Brief Wed, 04 Mar 2009 00:00:00 EST President Obama released his proposed budget for fiscal year 2010 on February 26, 2009. The budget establishes over a 10-year period a reserve fund of more than $630 billion to finance healthcare reform. That might sound like a substantial sum, however, ... http://www.schneiderdowns.com/How_will_the_new_budget_impact_nonprofit_organizations_ Sat, 28 Feb 2009 00:00:00 EST The American Recovery and Reinvestment Act of 2009 (“ARRA”) was signed into law by President Barack Obama on February 17. Among ARRA’s provisions are amendments to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) ... http://www.schneiderdowns.com/Update__What_You_Should_Know_About_COBRA_Premiums Fri, 27 Feb 2009 00:00:00 EST Many Tax Changes Proposed Yesterday, President Obama rolled out his proposed spending plan for fiscal 2010 that includes numerous tax changes for individuals and businesses. The plan specifically calls for an additional $637 billion in tax revenues from ... http://www.schneiderdowns.com/President_Obama_Unveils_His_Fiscal_2010_Budget Fri, 27 Feb 2009 00:00:00 EST On February 17, 2009, President Obama signed into law “The American Recovery and Reinvestment Tax Act of 2009” (ARRA). The third major stimulus package coming out of Washington within the last year, the $787 billion plan aims to create jobs ... http://www.schneiderdowns.com/stimulus_provisions Fri, 27 Feb 2009 00:00:00 EST One of the key provisions of the Sarbanes-Oxley Act of 2002 is the requirement that all public registrants form an independent audit committee that is responsible for oversight of the organization’s financial statements and accounting practices, ... http://www.schneiderdowns.com/What_is_the_Role_of_the_Nonprofit_Audit_Committee_in_Turbulent_Economic_Times_ Fri, 27 Feb 2009 00:00:00 EST Credentials Demonstrate the Firm’s Commitment to its Construction Industry Advisory Practice PITTSBURGH, PA–February 25, 2009–Eugene DeFrank, Assurance Shareholder, and Mark DiPietrantonio, Senior Tax Manager, have earned the Certified ... http://www.schneiderdowns.com/Schneider_Downs_Professionals_Earn_Construction_Credentials Wed, 25 Feb 2009 00:00:00 EST The Stimulus Plan Contains Several Tax Benefits to Encourage Sales of New Vehicles To receive future Automotive updates via e-mail, register for our Auto Alert program. The American Recovery and Reinvestment Act (ARRA) signed by President Barack Obama ... http://www.schneiderdowns.com/Auto_Update__Stimulus_Plan_Encourages_Aales_of_New_Vehicles Mon, 23 Feb 2009 00:00:00 EST Stimulus act provides substantial tax breaks for businesses and individuals On Feb. 17, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (ARRA). While approximately two-thirds of the nearly $800 billion stimulus act ... http://www.schneiderdowns.com/Stimulus_Plan_Provides_Tax_Breaks_to_Businesses_and_Individuals Thu, 19 Feb 2009 00:00:00 EST The nearly 1,100 pages of the American Recovery and Reinvestment Act draws us to conclude that the greatest beneficiaries of the stimulus legislation are the paper and printing industries. For the rest of you, the following tax provisions might be of ... http://www.schneiderdowns.com/American_Recovery_and_Reinvestment_Act_-_New_Tax_Provisions__ Wed, 18 Feb 2009 00:00:00 EST The final 403(b) regulations require that every 403(b) plan have a written plan document that outlines the terms of the plan and the administrative responsibilities of its investment provider. The IRS recently issued a notice that gives plan sponsors ... http://www.schneiderdowns.com/_Breathing_Room__403(b)_Regulation_Compliance_Extension_Explained Mon, 16 Feb 2009 00:00:00 EST The stimulus package was approved by the House and Senate on Friday (the 13th) and will be signed by President Obama tomorrow in Denver. After getting a peek at the final print bill, we see that several significant provisions affecting businesses were ... http://www.schneiderdowns.com/Some_of_the_Devils_in_the_Details_for_Businesses Mon, 16 Feb 2009 00:00:00 EST Accountability in government has been a hot topic for quite some time. We have all been waiting to see what affect the change in administrations would have on this topic. In a January 21st memo to the heads of executive departments and agencies, President ... http://www.schneiderdowns.com/520_php Mon, 16 Feb 2009 00:00:00 EST Most consumers will see an increase at the pump this weekend while crude oil prices fall to an all time low for the year, below $35 a barrel. Why? Gasoline suppliers have cut back on production due to the continued decrease in demand for gasoline. The ... http://www.schneiderdowns.com/Pricing_at_the_Pump Sat, 14 Feb 2009 00:00:00 EST 2008 is now behind us. To say that it has been a challenging year for all of us would be a dramatic understatement. I would like to apologize in advance for the length of this communication but these are unusual times, and I would rather over communicate, ... http://www.schneiderdowns.com/What_Do_We_Make_Of_This_Economy_ Sat, 14 Feb 2009 00:00:00 EST Friday, a jubilant House passed the stimulus bill with a vote of 246-183. The bill got no Republican votes, and seven Democrats voted against the measure. One Representative voted “present”. The final printed version of the bill was posted ... http://www.schneiderdowns.com/Stimulus_Package_Passes_House_and_Senate Fri, 13 Feb 2009 00:00:00 EST Although nothing has been made official, and the Stimulus Bill has not been formally written and released at this time, we are aware that several of the proposed tax cuts have been changed or trimmed from the bill. By trimming some of the proposed tax ... http://www.schneiderdowns.com/Obama_Stimulus_Package__Some_Tax_Cuts_Bite_the_Dust Thu, 12 Feb 2009 00:00:00 EST This report was written by Frank Dezort and Holly Russo. A SAS 70 audit or service auditor's examination is widely recognized, because it represents that a service organization has been through an in-depth audit of their control activities, which generally ... http://www.schneiderdowns.com/Do_I_really_need_a_SAS70_ Wed, 11 Feb 2009 00:00:00 EST In his address outlining the Commonwealth’s fiscal year 2009-2010 budget, Pennsylvania Governor Edward G. Rendell proposed a new severance tax of 5 percent on the value of natural gas at the wellhead plus 4.7 cents per 1,000 cubic feet of natural ... http://www.schneiderdowns.com/Governor_Rendell_Proposes_Tax_on_Natural_Gas Wed, 11 Feb 2009 00:00:00 EST Yesterday, the Senate passed its version of the economic recovery plan by a vote of 61-37. Only three Republican Senators helped the Democrats pass the plan. Senate passage clears the way for the stimulus package to head for the House-Senate conference ... http://www.schneiderdowns.com/Getting_Ready_to_Rumble Wed, 11 Feb 2009 00:00:00 EST On November 25, 2008, the Tax Exempt and Government Entities (TE/GE) division of the Internal Revenue Service issued its first Annual Report. Included in the Annual Report were staffing, compliance and guidance statistics highlighting the TE/GE's accomplishments ... http://www.schneiderdowns.com/IRS_Focuses_on_Tax-Exempt_Organizations Fri, 06 Feb 2009 00:00:00 EST Timothy Adams, managing director of state and local tax services at Schneider Downs, was interviewed by the Pittsburgh Business Times to provide analysis on PA Governor Ed Rendell's proposed state budget. Read the article ... http://www.schneiderdowns.com/Tim_Adams_Shares_Thoughts_on_Proposed_PA_Budget Fri, 06 Feb 2009 00:00:00 EST The Internal Revenue Service (IRS) has updated a list of frequently asked questions and answers about the redesigned Form 990, Return of Organization Exempt from Income Tax, effective for tax years beginning in 2008. Under the transition rules, most organizations ... http://www.schneiderdowns.com/FAQ__2008_Form_990 Fri, 06 Feb 2009 00:00:00 EST It is clear to most employers that as the sponsor of a benefit plan, they are one of the primary fiduciaries of that plan. But, what exactly does that mean for the employer? First, it means that the employer must perform their duties solely in the interest ... http://www.schneiderdowns.com/Best_Practices_for_Plan_Oversight Fri, 06 Feb 2009 00:00:00 EST This is another post in a series of Insights focusing on the economic stimulus package proposed by President Barack Obama and Congress. To receive all future updates electronically, subscribe to our News & Insights alert list. It’s Getting ... http://www.schneiderdowns.com/Obama_Stimulus_Plan Thu, 29 Jan 2009 00:00:00 EST Schneider Downs Wealth Management Advisors appeared in USA TODAY Snapshot, providing statistics about the Pittsburgh Steelers' effect on the stock market. ... http://www.schneiderdowns.com/Schneider_Downs_Wealth_Management_-_In_the_News Thu, 29 Jan 2009 00:00:00 EST S&P 500 Averages a 25.5% Return in Years of a Steelers Super Bowl Victory Casual fans may have more than just a rooting interest in this year’s Super Bowl, pitting the Pittsburgh Steelers against the Arizona Cardinals. Is it possible this year’s ... http://www.schneiderdowns.com/Does_Big_Ben_Hold_the_Key_for_a_Stock_Market_Turnaround_ Tue, 27 Jan 2009 00:00:00 EST This is another post in a series of Insights focusing on the economic stimulus package proposed by President Barack Obama and Congress. To receive all future updates electronically, subscribe to our News & Insights alert list. The various House Committees ... http://www.schneiderdowns.com/The_Obama_Stimulus_Package_Moves_Along Tue, 27 Jan 2009 00:00:00 EST This is another post in a series of Insights focusing on the economic stimulus package proposed by President Barack Obama and Congress. To receive all future updates electronically, subscribe to our News & Insights alert list. In his historic inauguration ... http://www.schneiderdowns.com/Still_Waiting_for_Change_in_Washington Fri, 23 Jan 2009 00:00:00 EST As an individual or corporate taxpayer, these current state budget deficits most likely will result in increased department of revenue contact and tax bills from the various state jurisdictions. Experience has shown us that these budget deficits are ... http://www.schneiderdowns.com/What_State_Budget_Deficits_Most_Likely_Means_to_You Fri, 23 Jan 2009 00:00:00 EST The AICPA announced the 2009 Top Technology Initiatives impacting CPAs. The 2009 initiatives mark the 20th anniversary for the list. The technology initiatives identified through surveying AICPA members is to represent the top technology initiatives ... http://www.schneiderdowns.com/AICPA_Announces_Top_Technology_Initiatives_for_2009 Fri, 23 Jan 2009 00:00:00 EST This is another post in a series of Insights focusing on the economic stimulus package proposed by President Barack Obama and Congress. To receive all future updates electronically, subscribe to our News & Insights alert list. On January 17, 2009, ... http://www.schneiderdowns.com/House_Ways_and_Means_Committee_Releases_Details_of_the_Economic_Recovery_Package Tue, 20 Jan 2009 00:00:00 EST This is the sixth in a series of Insights focusing on the economic stimulus package proposed by President-elect Barack Obama. To receive all future updates electronically, subscribe to our News & Insights alert list. House Democrats today unveiled ... http://www.schneiderdowns.com/$825_Billion_House_Version_of_Stimulus_Bill_Unveiled Fri, 16 Jan 2009 00:00:00 EST The Department of Labor (DOL) has provided new regulations for the Family Medical Leave Act (FMLA), which go into effect on Friday, January 16, 2009. If you have not already done so, now would be a good time to review your internal FMLA policies and procedures ... http://www.schneiderdowns.com/New_Family_Medical_Leave_Act_regulations_effective_January_16 Fri, 16 Jan 2009 00:00:00 EST So, the stock market is down 40%, unemployment is creeping toward 8% and commodity prices have imploded like a bad soufflé. Can anything good come from this? Maybe, if you’re focused and opportunistic. Sure, strong stock markets, low inflation ... http://www.schneiderdowns.com/A_New_To-Do_List_for_a_Down_Economy Fri, 16 Jan 2009 00:00:00 EST Pittsburgh, PA – The services of many nonprofits are critically needed during an economic downturn. Yet, funding for those organizations generally drops when the economy experiences a downturn. This message was conveyed in the opening remarks of ... http://www.schneiderdowns.com/nonprofit_economy Fri, 16 Jan 2009 00:00:00 EST What should your business expect in 2009 as it weathers the storm? The news today is all about the economy. The economic slowdown has affected almost every business in the US, including the manufacturing sector. Manufacturing businesses are suffering ... http://www.schneiderdowns.com/Manufacturing_Spotlight__What_will_2009_bring_ Fri, 16 Jan 2009 00:00:00 EST Although we do not expect the onslaught of negative economic news to end anytime soon, there are positive factors underlying the current environment that will eventually help to return the equity markets, as well as the broad economy, to positive territory. ... http://www.schneiderdowns.com/2008_could_not_end_soon_enough_for_investors___Is_there_any_hope_for_2009_ Fri, 16 Jan 2009 00:00:00 EST A business generally constitutes a person’s single largest investment. It is extremely important to know its value. For one reason, you need to understand its fair market value in order to determine if you are receiving a proper rate of return on ... http://www.schneiderdowns.com/488_php Tue, 13 Jan 2009 00:00:00 EST Last month, I posted a column following my participation at the SEC Conference in Washington D.C. New information continues to evolve since the conference, including this recent posting to the SEC Web site. SEC’s report to Congress on Mark to Market ... http://www.schneiderdowns.com/487_php Tue, 13 Jan 2009 00:00:00 EST Will Rogers once said, "The only difference between death and taxes is that death doesn&'t get worse every time Congress meets.” However, the Wall Street Journal reported Monday that Congress does intend to make death worse for heirs hoping ... http://www.schneiderdowns.com/Estate_Tax_Obama Tue, 13 Jan 2009 00:00:00 EST What do all of those gift cards I got for Christmas make me think about? Well, being an accountant, I can’t help but think about the fact that many gift cards go unredeemed. That means unclaimed property. Fortunately, Pennsylvania changed their ... http://www.schneiderdowns.com/Are_you_holding_unclaimed_property_ Tue, 13 Jan 2009 00:00:00 EST This is the fifth in a series of Insights focusing on the economic stimulus package proposed by President-elect Barack Obama. To receive all future updates electronically, subscribe to our News & Insights alert list. The rollout of President-elect ... http://www.schneiderdowns.com/485_php Mon, 12 Jan 2009 00:00:00 EST This is the fourth in a series of Insights focusing on the economic stimulus package proposed by President-elect Barack Obama. To receive all future updates electronically, subscribe to our News & Insights alert list. On Friday, the U.S. Department ... http://www.schneiderdowns.com/Job_Losses_Emphasize_Need_for_Quick_Stimulus_Package Fri, 09 Jan 2009 00:00:00 EST Peter J. Lieberman, Managing Director of Schneider Downs Corporate Finance, was quoted in the Pittsburgh Business Times article, "SBA lending drops in Pittsburgh region." (Log in may be required) ... http://www.schneiderdowns.com/Corporate_Finance_Quote Fri, 09 Jan 2009 00:00:00 EST This is the third in a series of Insights focusing on the economic stimulus package proposed by President-elect Barack Obama. To receive all future updates electronically, subscribe to our News & Insights alert list. Yesterday, in a major economic ... http://www.schneiderdowns.com/American_Recovery_and_Reinvestment_Plan Fri, 09 Jan 2009 00:00:00 EST Now that the challenges of 2008 are behind us, let’s look forward to a fresh, new start. Consider a New Year’s resolution that will make a positive impact on your financial situation, after all that just makes the most ‘cents’. ... http://www.schneiderdowns.com/480_php Thu, 08 Jan 2009 00:00:00 EST This is the second in a series of Insights focusing on the economic stimulus package proposed by President-elect Barack Obama. To receive all future updates electronically, subscribe to our News & Insights alert list. Amidst concerns stimulated by ... http://www.schneiderdowns.com/Economic_Stimulus_Update_2 Thu, 08 Jan 2009 00:00:00 EST The Japanese ruling coalitions and governmental agencies have agreed and released an outline of the 2009 tax reform proposals on December 12, 2008. Under this prospective proposal, the new dividend exclusion rule applicable to foreign dividends received ... http://www.schneiderdowns.com/div_exclusion Thu, 08 Jan 2009 00:00:00 EST This is the first in a series of Insights focusing on the economic stimulus package proposed by President-elect Barack Obama. To receive all future updates electronically, subscribe to our News & Insights alert list. Weeks before assuming office, ... http://www.schneiderdowns.com/President-elect_Obama_Stimulus_Package_Update Tue, 06 Jan 2009 00:00:00 EST Schneider Downs Names Ken Gruber Chief Information Officer Pittsburgh, PA—Schneider Downs (www.schneiderdowns.com) announces that Kenneth Gruber has joined the firm as Chief Information Officer, a new position at Schneider Downs. Gruber is responsible ... http://www.schneiderdowns.com/Gruber_Named_CIO Mon, 05 Jan 2009 00:00:00 EST How does my company‘s performance compare to similar companies? This is a question that I get asked by a lot of my construction clients. Luckily, the construction industry has plenty of resources available for these types of comparisons. At Schneider ... http://www.schneiderdowns.com/Construction_Benchmarking__How_do_I_compare_ Mon, 05 Jan 2009 00:00:00 EST The beginning of a new year brings with it moments of self-reflection, both from a personal as well as from a professional perspective. We will all see published surveys in newspapers, magazines and other news organizations asking the typical end of year ... http://www.schneiderdowns.com/Technology_Planning_for_2009 Mon, 05 Jan 2009 00:00:00 EST Statement of Financial Accounting Standards (FAS) No. 159 – The Fair Value Option for Financial Assets and Liabilities FAS 159 is effective for fiscal years that began after November 15, 2007 which means that December 31, 2008 will be the first ... http://www.schneiderdowns.com/FAS159 Mon, 05 Jan 2009 00:00:00 EST On December 15, 2008, the Fifth Protocol to the US- Canadian tax treaty entered into force. Provisions of the protocol with Canada, which amends the existing treaty (signed in 1980 and previously amended), include: Fiscally Transparent entities are now ... http://www.schneiderdowns.com/International_Tax_Update Mon, 05 Jan 2009 00:00:00 EST As yet another holiday season approaches, I’d like to take this opportunity to issue the warmest of wishes to all of our extended Schneider Downs family. The previous year has been a volatile one, but one we’ll remember fondly for the many ... http://www.schneiderdowns.com/Best_Wishes_for_the_Holiday_Season Mon, 22 Dec 2008 00:00:00 EST As a result of a new relief measure that is awaiting the President’s signature, companies whose pension funds suffered losses this year may not have to replenish the money as quickly as otherwise would be required under current law and individuals ... http://www.schneiderdowns.com/Congress_Passes_Pension_Funding_and_Minimum_Distribution_Relief Mon, 22 Dec 2008 00:00:00 EST Nancy Skeans, Managing Director of Schneider Downs Wealth Management Advisors, was quoted in the Pittsburgh Business Times "Investing It" section. Skeans responded to the question, "What's your new year's resolution for your personal portfolio?" ... http://www.schneiderdowns.com/InvestingIt Fri, 19 Dec 2008 00:00:00 EST HOW TO UNDO REDUCED BENEFITS AND TAKE ADVANTAGE OF AN INTEREST-FREE GOVERNMENT LOAN If you are regretting taking early Social Security, there is an easy way to undo the reduced early withdrawal payments. By filing a simple form, a Social Security beneficiary ... http://www.schneiderdowns.com/early_social_security Wed, 17 Dec 2008 00:00:00 EST At the AICPA National Conference on Current SEC & PCAOB Developments (the Conference) held in Washington, D.C. December 8 – 10, 2008, Chairman Cox spoke on the mark to market study mandated by the Emergency Economic Stabilization Act of Act ... http://www.schneiderdowns.com/Postcard_from_the_AICPA_Conference Tue, 16 Dec 2008 00:00:00 EST You are most likely in the majority that is unaware of the lurking “Red Flag” rules embedded within the Fair and Accurate Credit Transactions (FACT) Act; but your unfamiliarity will not last for long. The rules, intended to reduce the risk ... http://www.schneiderdowns.com/Lurking_Guidance_in_Legislation_to_Protect_Identity Fri, 05 Dec 2008 00:00:00 EST The AICPA Auditing Standards Board issued SAS No. 115, Communicating Internal Control Related Matters Identified in an Audit, which will supersede SAS No. 112 of the same name. Most accounting professionals are all too familiar with the ramifications ... http://www.schneiderdowns.com/Compliance_Requirements_and_Yellow_Book_Findings_to_be_Affected_by_New_Auditing_Standard Fri, 05 Dec 2008 00:00:00 EST Did you know that your organization has a responsibility to notify your customers or employees in the event that a breach in the security of computerized personal information occurs? As of October 2008, 41 states have enacted legislation which requires ... http://www.schneiderdowns.com/Do_You_Know_Your_Data_Breach_Obligations_ Fri, 05 Dec 2008 00:00:00 EST In a recent letter ruling, the Pennsylvania Department of Revenue determined that a parent-teacher organization’s sale of items for fundraising purposes did not qualify for the “isolated sale” exemption for sales tax collection. Accordingly, ... http://www.schneiderdowns.com/Exempt_Entities Fri, 05 Dec 2008 00:00:00 EST Nancy L. Skeans, CPA, CFP, was interviewed by the Pittsburgh-Post Gazette to discuss the impact of the recent market decline on 529 College Savings Plans. Nancy, who is managing director/investment advisor for Schneider Downs Wealth Management Advisors, ... http://www.schneiderdowns.com/skeans_news Mon, 01 Dec 2008 00:00:00 EST Raymond W. Buehler, Jr., President and CEO, was quoted in the Pittsburgh Business Times article, "Schneider Downs holds out hope for moderate growth in '09." (Log in may be required) ... http://www.schneiderdowns.com/443_php Fri, 28 Nov 2008 00:00:00 EST In November 2007, the Department of Labor (DOL) issued amended regulations eliminating an exemption granted to 403(b) plans from the annual Form 5500 reporting, disclosure and audit requirement under ERISA. The removal of this exemption subjects ERISA-covered ... http://www.schneiderdowns.com/403(b)_Plans Fri, 21 Nov 2008 00:00:00 EST Never in more than 30 years of working with clients in the auto industry have I seen events unfold as rapidly and dramatically as they have in the past 12 months. In October, 2007, I attended the AICPA Auto Dealer Conference as I do every year. Forecasters ... http://www.schneiderdowns.com/Auto_Emergency Fri, 21 Nov 2008 00:00:00 EST In 30 years, I can’t remember a tougher time to switch banks. Most lenders are rightfully focused on loan portfolio quality and reluctant to take on new customers. Facing the head wind of a protracted economic downturn, bankers are anxiously awaiting ... http://www.schneiderdowns.com/Navigating_the_Credit_Squeeze Tue, 18 Nov 2008 00:00:00 EST To cope with a volatile financial sector, rising prices and an uncertain economy, consumers have changed their spending habits. This sea change is a challenge for businesses that are seeking attention (and spending) from customers. Businesses with more ... http://www.schneiderdowns.com/Schneider_Downs_Corporate_Finance_Seminar Tue, 18 Nov 2008 00:00:00 EST Gov. Edward Rendell recently signed legislation amending current Pennsylvania CPA Law to bring the Commonwealth’s education standards into compliance with national education standards. This legislation takes effect on January 1, 2012 and will increase ... http://www.schneiderdowns.com/New_Rules_for_Aspiring_CPAs_in_Pennsylvania Fri, 07 Nov 2008 00:00:00 EST During 2008 there have been several new pieces of tax legislation that may impact manufacturing companies and/or their related shareholders. Since we are nearing the end of the year I wanted to provide a recap of the specific components that may apply. ... http://www.schneiderdowns.com/2008_Tax_Legislation_Highlights_for_Manufacturers Fri, 07 Nov 2008 00:00:00 EST We are in the middle of one of the largest financial crisis in U.S. history and companies, understandably, are looking to control spending. One of the more common budget cuts that companies scrutinize first is technology. But, is technology the right ... http://www.schneiderdowns.com/Commitment_to_Technology Mon, 03 Nov 2008 00:00:00 EST In preparation for year end tax planning we are advising our clients on various tax law changes that have been triggered for the 2008 tax year. One that we believe could be especially beneficial to our clients is Bonus Depreciation which was part of the ... http://www.schneiderdowns.com/Bonus_Depreciation Mon, 03 Nov 2008 00:00:00 EST Greetings, and welcome to Insights. We are in the midst of perhaps the most volatile economic period of the past 50 years, and this fiscal roller coaster ride continues to go faster and faster. One of the biggest challenges of such a rapidly-changing ... http://www.schneiderdowns.com/Staying_Current_in_a_Volatile_Period Mon, 03 Nov 2008 00:00:00 EST The Financial Accounting Standards Board (FASB) has issued new standards that will have a significant impact not only on the way companies account for acquisitions, but will also have an impact on deal structures. The changes that go into effect for annual ... http://www.schneiderdowns.com/ma_deals Mon, 03 Nov 2008 00:00:00 EST Have you heard of a SAS 70 report, but not sure what it is or if you need one? If you are an organization providing outsourcing services to a company, you may be called upon to have a SAS 70 audit. There are two types of SAS 70 reports. A type I is an ... http://www.schneiderdowns.com/SAS_70_1 Mon, 03 Nov 2008 00:00:00 EST October 29, Pittsburgh Marriott City Center (Pittsburgh, PA) October 30, COSI (Columbus, OH) Schneider Downs has announced it will once again host Technology Day, an executive’s guide to understanding and investing in technology. Technology Day ... http://www.schneiderdowns.com/techday Tue, 21 Oct 2008 00:00:00 EST The sky is falling, or so it would seem. The Dow Jones Industrials are down 31% over the last year. The S&P 500? Down 34%. The NASDAQ? How about 35%. Respected newspapers like the New York Times are writing articles with titles like “In Tight ... http://www.schneiderdowns.com/The_Impact_of_the_Economy_on_Nonprofit_Contributions Mon, 20 Oct 2008 00:00:00 EST (CCH) - On October 15, 2008, the FASB met to discuss comments received about deferring FASB Interpretation (FIN) No. 48, Accounting for Uncertainty in Income Taxes, for certain nonpublic enterprises. Previously, the FASB decided to defer FIN 48 for nonpublic ... http://www.schneiderdowns.com/All_non-public_entities_-_one_more_year_without_FIN_48_ Thu, 16 Oct 2008 00:00:00 EST Nexus for sales and use tax differs from nexus for income taxes. Nexus protection from income tax purposes under P.L. 86-272 is not available for sales tax purposes. As states continue to look for ways to increase tax receipts to offset budget deficits, ... http://www.schneiderdowns.com/Got_Sales_and_Use_Tax_Nexus_ Mon, 13 Oct 2008 00:00:00 EST Susan Kirsch, Shareholder, was quoted in the Pittsburgh Business Times article, "New tax form for nonprofits adds disclosure, transparency." ... http://www.schneiderdowns.com/990 Fri, 10 Oct 2008 00:00:00 EST Peter Lieberman, Managing Director of Schneider Downs Corporate Finance, was quoted in the Pittsburgh Business Times article, "Third quarter saw fewer M&A deals in Pittsburgh." ... http://www.schneiderdowns.com/456_php Fri, 10 Oct 2008 00:00:00 EST Henry Szymanski, Director of Automotive Services, was quoted in the Pittsburgh Business Times article, "Auto dealers lose domestic leasing." ... http://www.schneiderdowns.com/Auto_dealers_lose_domestic_leasing Fri, 03 Oct 2008 00:00:00 EST Energy is a significant issue in the upcoming presidential election. Rising energy costs are directly impacting the wallets of many Americans, and the consensus is that something needs to be done about it. What are the candidates’ energy plans for ... http://www.schneiderdowns.com/397_php Wed, 01 Oct 2008 00:00:00 EST Over the last several years, business have faced many challenging problems – operationally, accounting and economically. Operationally, the costs of materials have risen sharply and theft at job sites for scrap materials has increased. Energy prices ... http://www.schneiderdowns.com/396_php Wed, 01 Oct 2008 00:00:00 EST In December 2007, the FASB issued an accounting pronouncement that is being called the first major convergence with International Financial Reporting Standards (IFRS). FASB Statement 141(R), Business Combinations (141(R)), which is effective for periods ... http://www.schneiderdowns.com/Business_Combinations Tue, 30 Sep 2008 00:00:00 EST “Opting Out” - Are you tired of telephone solicitations and junk mail promising everything from pre-approved credit cards to auto insurance discounts? There are steps you can take to better protect your personal and financial privacy. Here ... http://www.schneiderdowns.com/Privacy_Protection Tue, 30 Sep 2008 00:00:00 EST Corporate Governance In the Government Sector – Ignore, Embrace, Enhance? Is corporate governance just the latest fad for government agencies? What exactly is corporate governance and if embedded throughout Sarbanes-Oxley (SOX) and other corporate ... http://www.schneiderdowns.com/Corporate_Governance Mon, 22 Sep 2008 00:00:00 EST Just as your customers often have little idea of what their trade-ins are worth, many dealers may be in the dark about a fair selling price for their dealership. In both instances, the traditional answer is that the current market will determine the values. ... http://www.schneiderdowns.com/Do_You_Know_What_Your_Dealership_is_worth_ Wed, 17 Sep 2008 00:00:00 EST 2009 Automatic Filing Extensions for Partnerships, Trusts and Estates Reduced to Five Months The Internal Revenue Service has issued temporary regulations reducing the extension period from six months to five months for partnership, estate and trust returns. ... http://www.schneiderdowns.com/2009_Automatic_Filing_Extensions Thu, 11 Sep 2008 00:00:00 EST 501(c)(3) Organizations: Beware of Political Content on Your Website With the 2008 presidential election right around the corner, 501(c)(3) organizations could be tempted to publicize information on their website about candidates for public office who ... http://www.schneiderdowns.com/501(c)(3)_Organizations_-_Web_Sites Tue, 02 Sep 2008 00:00:00 EST Firm committed to developing leaders from within the organization Pittsburgh, PA—Schneider Downs announces the following promotions: Jeffery A. Acheson to Managing Director of Schneider Downs Wealth Management Advisors. Acheson holds a Bachelor’s ... http://www.schneiderdowns.com/Schneider_Downs_Promotions Tue, 02 Sep 2008 00:00:00 EST Solicit Opinions. Employees want to have a voice in the activities of the business. Solicit their opinions. However, if you ask for their suggestions, you must give serious consideration to the input received. Keep Employees in the Loop. Although you ... http://www.schneiderdowns.com/Communicating_with_Employees Tue, 02 Sep 2008 00:00:00 EST The “kiddie tax” has been expanded by Congress in the Small Business Act of 2007. If you have children under age 24 as of 2008, this is of importance to you. For some time now the tax law has imposed the kiddie tax on the unearned income of ... http://www.schneiderdowns.com/Kiddie_Tax Fri, 29 Aug 2008 00:00:00 EST NEW GUIDANCE JUST RELEASED! Companies must proactively address fraud risk in their organizations. Regulations such as the U.S. Federal Sentencing Guidelines, the U.S. Foreign Corrupt Practices Act, and the U.S. Sarbanes-Oxley Act all mandate corporate ... http://www.schneiderdowns.com/Discussions_on_FRAUD_should_no_longer_be_taboo___ Thu, 28 Aug 2008 00:00:00 EST The IRS’s compliance directives (and increased numbers of tax audits) are causing companies to disclose more information than ever on tax returns. It is clear from new and redesigned tax forms that transfer pricing continues to be a significant ... http://www.schneiderdowns.com/transferpricing Thu, 28 Aug 2008 00:00:00 EST The Pittsburgh Steelers recent public wrangling over how to resolve the issues surrounding their ownership structure highlights one of the most difficult challenges for successful family businesses: what to do when ownership has been widely distributed ... http://www.schneiderdowns.com/361_php Wed, 27 Aug 2008 00:00:00 EST The Economic Stimulus Act of 2008 (Act) contains provisions that allow taxpayers to take bonus depreciation on qualified property placed in service during calendar year 2008. The Act entitles taxpayers to an additional first-year depreciation deduction ... http://www.schneiderdowns.com/2008_Economic_Stimulus_Act_-_Bonus_Depreciation Mon, 25 Aug 2008 00:00:00 EST Marcellus, the current buzz word in the natural gas industry, has presented some landowners who own their mineral rights with an opportunity to lease their property for oil/gas exploration. The Marcellus Shale is located in the Devonian geological formation ... http://www.schneiderdowns.com/Marcellus_Shale_Find_Creates_Buzz_in_Natural_Resources_Industry Mon, 25 Aug 2008 00:00:00 EST The Department of Labor (DOL) continues to focus major enforcement action on plan sponsors and owners regarding late remittances of employee contributions to employee benefit plans. In fact, the DOL has recently taken enforcement actions against several ... http://www.schneiderdowns.com/Late_Remittances_-_Still_Department_of_Labor_Hot_Button Thu, 21 Aug 2008 00:00:00 EST IRS Issues Instructions for New Form 990 – (Reprinted from the IRS Web Site) The Internal Revenue Service released the revised instructions that tax-exempt organizations will need to fill out the redesigned Form 990, which must be filed starting ... http://www.schneiderdowns.com/Form_990_Instructions Tue, 19 Aug 2008 00:00:00 EST The idea of “going paperless” continues to gain traction within the Human Resources and Payroll departments of companies large and small. As the economy tightens more organizations are looking for ways to save money. Reducing the amount of ... http://www.schneiderdowns.com/Going_Paperless Fri, 15 Aug 2008 00:00:00 EST The Housing Assistance Tax Act of 2008 contains a new first-time homebuyer credit of up to $7,500 that is principally designed to assist struggling homeowners and the housing industry. The general rules regarding the first-time homebuyer credit are as ... http://www.schneiderdowns.com/2008_Housing_Act_-_Homebuyer_Credit Fri, 15 Aug 2008 00:00:00 EST Great strides have been made by the FASB and the IASB to converge the content of IFRS and U.S. GAAP. The goal is that by the time the SEC allows or mandates the use of IFRS for U.S. publicly traded companies, most or all of the key differences will have ... http://www.schneiderdowns.com/IFRS_Update Fri, 15 Aug 2008 00:00:00 EST Pittsburgh, PA – July 14, 2008 – Raymond W. Buehler, Jr., President & CEO of Schneider Downs, one of the nation’s largest certified public accounting and business advisory firms, was named Chairman of IGAF Worldwide, North America, ... http://www.schneiderdowns.com/Buehler_named_IGAF_Worldwide_Chairman Mon, 14 Jul 2008 00:00:00 EST U.S. persons are required to file a Report of Foreign Bank and Financial Accounts (FBAR), Form TD F 90-22.1, by June 30 each year if they have a financial interest in or signature authority over any financial accounts in a foreign country. The FBAR is ... http://www.schneiderdowns.com/Reminder_to_Report_Certain_Foreign_Bank_and_Financial Tue, 01 Jul 2008 00:00:00 EST (Pittsburgh, PA)—Schneider Downs & Co., Inc., one of the 50 largest certified public accounting and business advisory firms in the nation, announces that Roy Lydic, Kathy Petrucci and John Popies have been promoted to Shareholder. The firm now ... http://www.schneiderdowns.com/Schneider_Downs_Appoints_Three_New_Shareholders Tue, 17 Jun 2008 00:00:00 EST Pittsburgh, PA – Schneider Downs, an accounting and business advisory firm with offices in Pittsburgh, PA and Columbus, OH, announces that Charles Oshurak and Scott Meyers have been appointed to the position of Senior Audit Manager with Schneider ... http://www.schneiderdowns.com/Schneider_Downs_Expands_Team Tue, 03 Jun 2008 00:00:00 EST Peter Lieberman, Managing Director of Schneider Downs Corporate Finance, was quoted in the Pittsburgh Business Times article, "Pittsburgh area coal mine sells for $25 million." ... http://www.schneiderdowns.com/Pittsburgh_area_coal_mine_sells_for_$25_million Tue, 13 May 2008 00:00:00 EST