Season 2: Episode 8: Harris CPAs Economic Event Recap with Washington Trust Bank and Conrad Ball

Season 2: Episode 12: How Capital Campaigns Can Help Your Nonprofit Achieve Its Mission

In this episode, we welcome our special guests, Erin Anderson, Executive Director of the Idaho Botanical Garden, and Cheryl Guiddy, Nonprofit Industry Lead at Harris. Learn how successful capital campaigns are helping nonprofits meet their future goals, and the importance of an organized structured plan, which often begins years in advance. Cheryl brings her insight into crucial accounting considerations, and Erin also shares the exciting future expansion plans for the Idaho Botanical Garden. Show Notes: * 00:35 Introduction and Guest Introductions * 01:46 Overview of capital campaign and why nonprofits use them * 03:00 Idaho Botanical Garden's impressive plans for expansion * 09:37 Capital campaign phases * 11:40 Financial accountability and transparency * 17:45 How to help your board and staff understand the financial data coming in * 20:43 Best piece of advice for nonprofits looking to do a capital campaign Links: Idaho Botanical Garden Website [https://www.idahobotanicalgarden.org/] Erin Anderson's LinkedIn [https://www.linkedin.com/in/erinandersonibg/]

Season 2: Episode 11: Navigating the Corporate Transparency Act

In this episode, our host, Josh Tyree introduces Brittany Mergan, CPA of CTA Compliance, the preferred provider for helping our clients comply with the new Corporate Transparency Act requirements. Along with our partner at Harris, David Hutchison, EA, they address key aspects of the Act, help define the types of owners that will be required to report, deadlines for reporting, exemptions, and tips for multi-entity owners. Show Notes: * 00:35 Introduction to the Corporate Transparency Act (CTA) * 01:24 Current Status and Legal Challenges of the CTA * 02:47 What is Beneficial Ownership Information (BOI) and the role of FinCEN? * 04:20 Who needs to file and what do I have to submit? * 05:10 Consequences of Non-Compliance with the CTA * 05:59 Defining ownership interest, and the effect on spouses * 10:08 Deadlines for reporting * 11:42 Defining reporting applicants and their responsibilities in reporting * 13:20 Clarifying requirements for Single Member LLCs or Sole Proprietors * 16:33 Tips for multi-entity owners Links: Questions on CTA Compliance, contact info@ctacompliancellc.com Brittany Mergen's LinkedIn [https://www.linkedin.com/in/brittany-mergen-cpa-10abaa82/] David Hutchinson's LinkedIn [https://www.linkedin.com/in/davidahutchisonea/] David Hutchison's Biography [https://harrisgroupadvisors.com/our-team/david-hutchison/]

Season 2: Episode 10: The Art of Cash Flow Management: A Controller's Perspective

In this episode we welcome our guest, Gina Vinci, Controller at McMillen, a leading engineering and construction firm. Gina helps give a greater understanding surrounding the complexities of managing cash inflows and outflows effectively, the importance of leveraging banking relationships, and the critical role of forecasting to help in meeting organizational goals. Discover practical tips for mastering cash flow management in diverse business landscapes. Key Highlights: * 01:38 – What cashflow management means from a controller’s perspective * 02:14 – How receivables (AR) and payables (AP) impact your cashflow * 04:52 – The nuances of cashflow in the construction industry * 05:50 – How subcontractors and contract payment terms tie into managing cashflow * 09:27 – Leveraging strategic banking relationships * 12:07 - The importance of a strong balance sheet to support cashflow * 3:08 – Monitoring backlogs and burn rate * 15:00 – Using historical cash flow to help forecast * 16:43 - Continuous cash flow monitoring and planning * 17:41 - Aligning to leadership’s strategic goals * 19:51 – How banking and CPA relationships can assist with cashflow strategies Links: Gina Vinci's LinkedIn [https://www.linkedin.com/in/ginavinci/] McMillen Inc's Website [https://www.mcmillen.com/]

Season 2: Episode 9: Tax Planning Opportunities for Extending Returns

In this episode, we’ve invited guest speaker, Todd Ames, Partner at Harris Twin Falls to give us more insight on the value of extending your return. Learn about important tax deadlines, the benefits of extending your return, and strategies to maximize tax savings during the extension period. Discover how proactive planning can translate into tax savings when it comes time to file. Show Notes: * 02:06 - Understanding Tax Deadlines and Dates * 05:16 - The Importance of Extending Your Return * 06:51 - Maximizing Tax Savings with Strategic Planning * 10:33 – Retirement Contribution Timing Opportunities * 12:55 - Tax Strategy Example For an Extended Return: Cost Segregation Study * 14:50 – New Legislation Update Regarding Research & Development (R&D) Credits * 18:23 - The Impact of Changing IRS Interest Rates & Penalties * 22:25 - Complying with the Corporate Transparency Act * 24:33 - Looking Back in an Effort to Plan Ahead Links: Todd Ames' Biography [https://harriscpas.com/our-team/todd-ames/] Todd Ames' LinkedIn [https://www.linkedin.com/in/todd-ames-07008a35/]

Season 2: Episode 8: Harris CPAs Economic Event Recap with Washington Trust Bank and Conrad Ball

In this episode of 'Accounting for Tomorrow', host Josh Tyree is joined by Conrad Ball, the Southern Idaho regional president for Washington Trust Bank. Together, they provide a recap of the annual Harris CPAs Economic Update where Steve Scranton, the Chief Investment Officer and Chief Economist, shared insights and outlooks for 2024. They discussed job growth, income trends, personal spending, borrowing rates, inflation, and preparing for future economic challenges. This insightful discussion offers valuable information for community leaders and business owners looking to navigate the ever-changing economic landscape. Show Notes: * 00:42 Recap of the Annual Harris CPAs Economic Update * 01:19 Introduction to Guest Speaker: Conrad Ball * 02:56 Discussion on Job Growth and Income * 04:34 Challenges in the Labor Force * 07:45 Impact of Inflation on the Economy * 13:19 Insights on Borrowing and Interest Rates * 18:15 Understanding Inflation and its Impact * 22:45 How can you best prepare for a recession? Links: Harris CPAs Economic Event Presentation Video [https://www.youtube.com/watch?v=fY9jJ9UtYXs] Conrad Ball's Biography [https://www.watrust.com/business/contact/commercial/conrad-ball/] Washington Trust Bank's Website [https://www.watrust.com/]