Sciarabba Walker Blog
The information in these blog posts is provided for general informational purposes only and is not intended to substitute for accounting, tax, or financial advice from a professional accountant. While we use reasonable efforts to furnish accurate and up-to-date information, we do not warrant that any information contained in or made available through this blog is current or error free. No part of this communication is intended to be used for the purpose of avoiding penalties under U.S. federal tax law.
Tax Planning for Medical Practices
In a volatile economic environment where every dollar counts, your medical practice’s leadership needs to know the distinction between traditional tax deductions and depreciation-related tax breaks. For instance, a medical practice can take an immediate deduction for...
Are You Suffering From Revenue Leakage?
In the face of constant reimbursement headwinds, efficient and effective fiscal policies are vital to prevent revenue leakage in your medical practice. Here are five keys to tightening up your business practices. Develop a solid cash flow system - Do you thoroughly...
2023 Marks Year of Growth for Sciarabba Walker & Co., LLP
FOR IMMEDIATE RELEASE: Sciarabba Walker & Co., LLP Continues to Grow with New Office and New Hires Ithaca, New York, August 29, 2023 – 2023 has been a year of growth for the accounting and business consulting firm Sciarabba Walker & Co., LLP. In late March,...
Nonprofit Trends of 2023
The world is constantly changing, and it is up to each individual organization to adapt and continue thriving. The last few years have been challenging, from a worldwide pandemic to now a looming recession. Risk management and awareness of options are more important...
Maximizing ChatGPT for Planning and Fundraising
In the digital era, nonprofit organizations increasingly turn to AI technologies to enhance their planning and fundraising efforts. ChatGPT, an AI-powered chatbot, offers unique advantages, opportunities, and considerations for nonprofits in these areas. This article...
How to Raise Funds in an Uncertain Environment
While the global pandemic brought many hardships, it also encouraged a great deal of generosity. 2020 and 2021 were two of the strongest giving years on record, but now we enter a new, post-pandemic era with great economic uncertainty. 2022 saw decreases in overall...
Key Aspects of the Nonprofit SEAT Act
On April 26, 2022, the House of Representatives introduced the Nonprofit Sector Strength and Partnership (SEAT) Act. This bill aims to reinforce the relationship between nonprofits and the federal government, identify common goals, achieve common objectives, encourage...
Revenue Recognition for Software as a Service Companies
The revenue recognition standard, ASC 606, applies to all industries; however, there are certain unique items to consider when accounting for software and software-as-a-service (SaaS) contracts under these rules. Two important terms to understand before determining...
Ways to Manage Charitable Giving
Charitable giving affords crucial support to nonprofit organizations that are providing essential services to communities. With a little planning, they also offer potential income tax savings to the donor. For income tax purposes, the amount of a deductible...
2023 NYS PTET Opt-In Deadline Upcoming
The New York State Pass-Through Entity Tax (PTET) is an optional tax that partnerships or New York S corporations may annually elect to pay on certain income for tax years beginning on or after January 1, 2021. Who is eligible? Any partnership [including a limited...