Two years ago we issued the inaugural WeiserMazars’ U.S. Water Industry Outlook in an effort to contribute to recognition of the water industry as an important sector – a factor we strongly believe is critical to addressing its challenges. Today, the water industry faces many of the same obstacles, particularly aging infrastructure and capital needs.
Meaningful Use (MU) participation is at an all-time high, leading to an inevitable surge in audits. Preparing for a potential audit is crucial in this all or nothing program, where documentation shortfalls can lead to big losses. With millions of dollars at stake, the time to secure past and future incentive payments is now.
Each not-for-profit organization has its own unique management needs. And, though the particular type of not-for-profit may vary, providing high quality service with stellar administration is required by all. It is impossible to achieve these goals, promote automation and reduce expenses without a robust, efficient accounting system.
A major concern for self-employed individuals, and particularly sole proprietors, is how to save for retirement. A sole proprietor needs both flexibility in determining annual contributions and administrative simplicity from a retirement plan. There are numerous plan designs from which a sole proprietor may choose, including defined benefit plans and profit sharing plans.
The New York City Department of Finance requires the owners or the owners’ representatives (“Owners”) of income-producing property in New York City, that have an actual assessed value (“Total Actual AV”) of more than $40,000, to file an annual Real Property Income and Expense statement commonly known as an RPIE. New York City has moved the annual filing deadline three months earlier to June 1st. Since the filing date is a Sunday, this year the RPIE is due June 2nd. The RPIE-2013 covers the 2013 calendar year or, if records are maintained on a fiscal year basis, the last fiscal year concluded as of May 1, 2014.
FATCA was enacted by Congress and signed into law in response to headlines describing wealthy Americans hiding assets in offshore financial institutions in order to avoid paying taxes on the income generated by those assets. Because FATCA withholding applies to certain US source payments, US and foreign P&C companies ceding US risks offshore and Foreign P&C companies assuming business on US risks must comply with FATCA.