News & More
Defining the Difference: Calendar Tax Year Vs. A Fiscal Tax Year
Many business owners use a calendar year as their company’s tax year. It is a simple method that aligns with most owners’ personal returns. However, for some businesses, choosing a fiscal tax year can make more sense. What’s a fiscal tax year? A fiscal tax year...
McConnell & Jones’ Audit Team Attends AICPA Employee Benefit Plan Conference and Moderates Sessions
More than 20 auditors from McConnell & Jones’ Employee Benefit Plan Audit and Assurance team will attend the American Institute of Certified Public Accountants (AICPA) Employee Benefit Plan Conference. The annual event, which covers accounting, auditing and...
Marketing Coordinator, Leeandria Williams, Selected to Board of Directors of Women Exceeding
McConnell & Jones’ marketing coordinator, Leeandria Williams, was recently selected to serve on the board of directors of Women Exceeding, a nonprofit organization committed increasing women’s presence in leadership and entrepreneurial roles. In her board...
Enterprise Risk Management – Integrating with Business Strategy and Performance
Enterprise risk management is no longer focused principally on minimizing risk to an acceptable level. Rather, it is viewed as integral to setting strategy and identifying opportunities to create and maintain value for business. The Committee of Sponsoring...
New Developments for Presentation of Nonprofit Financial Statements
ASU 2016-14 | Summary of Changes to Not-for-Profit Financial Statements Are you ready for significant changes to the financial statements of nonprofit organizations? Overview: The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU)...
Accounting Today Ranks McConnell & Jones As a Top Accounting Firm in the Southwest
McConnell & Jones LLP (MJ) is ranked as a top accounting firm in the Southwest region of the United States in the 2018 Top 100 Firms, a special report issued by Accounting Today. The recognition highlights top performing accounting firms in the Southwest region of...
McConnell & Jones Announces Employee Promotions
McConnell & Jones LLP, one of the top accounting firms in the Southwest, announces the recent promotion of multiple employees throughout the organization. Audit Senior Promotion Tiffany Gaither- Washington D.C. Office Christina Sicola- Houston Office Tony Mathew-...
McConnell & Jones LLP Continues to Expand with Multiple New Hires
McConnell & Jones LLP (MJ), ranked one of the top CPA firms in the Southwest by Accounting Today, is expanding with the additions of new employees firm wide. Houston Office New Employees Allan Adderly- Accounting Jiten Chudasama- Audit Paul Bond- Audit Raymond...
Estate Planning Essentials to Revisit Due to the New Tax Law
Estate planning is never done. Just like a piece of real estate, it needs periodic maintenance and care to make sure it’s in good shape when you need it most. Provisions in the newly passed tax plan mean it’s time to revisit a handful of key areas of your estate plan....
Live Webinar: Top 5 Internal Control Considerations Facing Benefit Plans
Live Webinar Internal Control Considerations Facing Employee Benefit Plans Join Us Thursday, April 5, 2018 11:30 a.m. (CST) As we prepare for another benefit plan audit season, one factor that creates risk for benefit plans is a lack of effective internal controls....
Tax Reform -Key Considerations Affecting Nonprofit Organizations
The Tax Cuts and Jobs Act of 2017 significantly changed the landscape for everyone including nonprofit organizations. To help these organizations navigate the key provisions affecting nonprofits, we’ve highlighted three key considerations below: Executive Compensation...
Top 5 Internal Controls Risks Facing Benefit Plans
by Gosia Kanda One factor that creates risk for benefit plans is a lack of effective internal controls. As we prepare for another benefit plan audit season, now is the time for plan sponsors to review internal processes and make necessary improvements. Below are the...
Cryptocurrency Tax Essentials
Cryptocurrency is hot right now. As it emerges as an asset class of its own, many people are still confused how to treat it for federal income tax purposes. In response, the IRS issued guidance back in 2014 that treats virtual currencies that are convertible to cash...
McConnell and Jones LLP Gives Holiday Donations to Washington D.C. Charities
The McConnell & Jones’ (MJ) Washington D.C. office team spent a portion of the holiday season donating a myriad of necessities and gifts to three different local organizations, A Wider Circle, an anti-poverty organization that serves low income families; My...
Concerned About Tax Reform? We Have What You Need to Know.
The Tax Cuts & Jobs Act significantly changes the landscape for individuals and businesses, both small and large. Many provisions included in the Act take effect January 1, 2018, and will affect virtually all U.S. taxpayers. To help you understand the...
Tax Cuts and Jobs Act of 2017 | Top 5 Tax Issues Important to Entrepreneurs and Small Businesses
American small business owners and entrepreneurs across the country received a financial present this holiday season when Congress passed the new tax reform package. The “Tax Cuts and Job Act of 2017” is the most significant and radical change in tax law since the...
The Final Tax Bill
The much anticipated tax bill is finalized and has significant changes to personal and business tax laws, both in terms of tax structure and rules. Below is a summary of the key provisions in their final form compared to current tax law. Income Tax Rates Overall, the...
IRS Advisory – Prepaid Property Taxes MAY Be Deductible in 2017
Prepaid Real Property Taxes May Be Deductible in 2017 if ASSESSED and PAID in 2017 IRS Statements and Announcements - The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax...
Last Minute Tax Planning Ideas In Light of the New Tax Bill
As the year comes to an end and we begin reviewing the implications of the new tax reform bill, here are a few last suggestions for you and/or your business. Tax Reform Is Here - Four Moves to Make By the End of Year As always, please call one of our Tax Professionals...
The Trump Tax Reform Plan – What Is and What May Be
Major tax reform enactment is a rare event, with the last occurring back in 1986 under President Ronald Reagan. As a result, current discussions could pan out to be much ado about nothing; however, with the solid majorities that Trump and the Republicans hold in both...