This is the fourth in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.

According to the U.S. Department of Education, one of the top 10 audit findings is R2T4 (return of Title IV funds) made late. The Department finds that many institutions are having trouble making returns within the allowable timeframe.  Common reasons for late returns include an institution’s policies and procedures not followed; returns not made within the allowable 45-day time frame; inadequate system in place to identify/track official and unofficial withdrawals; and, no system in place to track number of days remaining to return funds.

This is the third in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.

According to the U.S. Department of Education, one of the top 10 audit findings is R2T4 (return of Title IV funds) calculation errors.

From a technical standpoint, regulations require that Title IV financial aid allocated for a student who later withdraws should be returned.

Tax-advantaged retirement plans allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. But annual contributions are limited by tax law, and any unused limit can’t be carried forward to make larger contributions in future years. So it’s a good idea to use up as much of your annual limits as possible. Have you maxed out your 2015 limits?

With increasing frequency our firm consults with foreign individuals (in U.S. tax law parlance, Non-Resident Aliens or NRA’s, aka foreign nationals) who are considering immigration to the United States.  Many of these NRA’s are wealthy and hold significant businesses, income-producing real estate, and liquid assets, in addition to their residence in their foreign country.

When it comes to deducting charitable gifts, all donations are not created equal. As you file your 2015 return and plan your charitable giving for 2016, it’s important to keep in mind the available deduction:

This is the second in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.

According to the U.S. Department of Education, one of the top 10 audit findings is inaccurate or untimely reporting of NSLDS rosters. Less than satisfactory reporting can have a negative impact on students’ records and details related to their financial aid status and history.

Today it’s becoming more common to work from home. But just because you have a home office space doesn’t mean you can deduct expenses associated with it.

This is the first in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.

It’s that time of year again, getting your financial statements and compliance reporting processes in shape for your year-end single audit. Before your external auditors start their audit processing and testing you need confidence there will be limited or, hopefully, no compliance audit findings, especially repeat findings.

It’s time to get your financial statements in shape. It’s important to not just view you company’s financial statements as a historical document, but as a tool you have influence over with your actions and its presentation.

The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) extended a wide variety of tax breaks, in some cases making them permanent. Extended breaks include many tax credits — which are particularly valuable because they reduce taxes dollar-for-dollar (compared to deductions, for example, which reduce only the amount of income that’s taxed).