Marvin & Co. Blog

Marvin and Company New Employees, Promotions and Employee Service Anniversaries

Posted on: 1/6/15 by Kathleen E. Kirvin

We are excited to announce several promotions and work anniversaries at Marvin and Company.

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Start-Up Center: Forming a business advisory team

Posted on: 1/6/15 by Kevin P. O'Leary, CPA

When it comes to starting a business, many entrepreneurs have the “trade” or operational side of the business down to a science. However, many of the other factors of business success, such as financing, legal, accounting, tax and insurance liability issues are more foreign concepts.

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#Nonprofits #Socialmedia and #Taxes: Is Your Organization Protected?

Posted on: 1/6/15 by Marvin and Company

Social media can offer cost-effective platforms through which nonprofit organizations can better communicate with stakeholders and raise awareness of their causes and fundraising efforts.

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ALS Ice Bucket Challenge Offers Key Lessons for Nonprofits

Posted on: 1/6/15 by Marvin and Company

On July 15, golfer Chris Kennedy was challenged to dump a bucket of ice over his head, post a video to social media and nominate three friends to do the same within a 24-hour period or donate to a charity of their choice. One of Kennedy’s nominees opted to donate to the ALS Association in addition to posting her own ice bucket challenge video. Separately, on July 31, Peter Frates, former captain of Boston College’s baseball team who lives with ALS, posted his ice bucket challenge video to Facebook. These initial videos went viral on social media, rapidly transforming what began organically as a charitable challenge between friends into an online giving movement through which the ALS Association has gained unprecedented levels of awareness and donations.

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Fraud. The Hidden Skill of a Trusted Employee

Posted on: 1/6/15 by Carol A. Hausamann, CPA

The Association of Certified Fraud Examiners (“ACFE”) recently released their 8th Report to the Nation on Occupational Fraud and Abuse where they summarized forensic cases from 2013 based on data provided to them by certified fraud examiners, internal auditors, and accounting professionals. Over the past several years, many of the statistics compiled have not varied much from report to report. Simply put, fraud isn’t going away.

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Five Ways to Improve Employee Reviews

Posted on: 1/6/15 by Frank S. Venezia, CPA

Ideas to help better manage your business

The start of a new year is when many companies conduct face-to-face sit-down meetings with employees. If you are a longtime manager or business owner, you have probably been doing these employee reviews for years. But are they really doing anybody any good? If the process has become merely rote, with little thought or planning given to it, probably not. But you don’t have to perpetuate the status quo.

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Work for Yourself? Four Retirement Plan Options

Posted on: 1/5/15 by

Choices Abound for Self-Employed Individuals

Thanks to several legislative changes over the years, self-employed individuals now have plenty of retirement plan choices on the table, just like the bigwigs in corporations, partnerships and limited liability companies (LLCs). Here are four popular items on the menu for self-employed individuals.

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Fringe Benefit Items to Include on 2014 Forms W-2

Posted on: 1/5/15 by Kevin J. McCoy, CPA, CFF

Since you are currently preparing your 2014 year-end reports, we would like to remind you about the proper inclusion of fringe benefits in an employee’s and/or shareholder’s taxable wages. Fringe benefits are defined as a form of pay for performance of services given by a company to its employees and/or shareholders as a benefit. Fringe benefits must be included in an employee’s pay unless specifically excluded by law. Please note that the actual value of the fringe benefits provided must be determined prior to December 31 in order to allow for the timely withholding and depositing of payroll taxes.

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How to Audit-proof T&E Deductions

Posted on: 1/5/15 by James E. Amell, CPA

Year in and year out, taxpayers claiming substantial deductions for travel and entertainment (T&E) expenses are prime audit targets of the IRS. This year should be no exception. But there is a way you can withstand any challenges on your return: Keep accurate records as required by the tax law. Here is a summary of the key tax rules for T&E expenses.

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Finding Tax Shelter for Winter Storm Damage

Posted on: 1/5/15 by Daniel J. Litz, CPA

If the national weather forecasters are right, we could be in for a brutal winter in many parts of the country. Even in areas that will not be especially hard hit, you still may suffer damage to your home or other personal property. Small consolation: You may be able to claim a casualty loss deduction to offset part of your tax liability.

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