Sales Tax Changes for Utilities
The recent passage of House Bill 8 by the Kentucky legislature introduced several changes to the collection of sales tax within the state that will go into effect on January 1, 2023. The bill expands the tax base not only by adding a number of services that will become subject to the tax, but also […]
RFH Annual Volunteer Day
RFH Return to Annual Volunteer Day was a Success! After an extended break due to Covid-19, we had a successful return to our annual volunteer day. This year, we were able to sit down with staff from The Hope Center in Lexington to learn more about their organization and what they do for the community. […]
Tax Relief for Flooding Victims
The flooding that occurred in Eastern Kentucky has been an absolute tragedy and our hearts go out to the families affected by it. In response to the disaster, the Internal Revenue Service announced on August 1, 2022, that tax relief will be issued for those affected. The following counties can qualify for either individual or […]
Kentucky Nonprofit Assistance Fund
The State of Kentucky has established a nonprofit assistance fund of $75 million to provide direct relief payments of up to $100,000 to qualifying nonprofits in Kentucky. The amount of assistance a nonprofit can qualify for is determined by its net negative revenue difference between the calendar years of 2020 and 2021. Net negative revenue […]
Five Ideas Small Organizations Can Implement to Improve Internal Controls
Many organizations have heard the term “segregation of duties” when talking about internal controls and ways to prevent fraud. Segregation of duties is the idea that no one person should have access to both physical assets and the related accounting records or to all phases of a transaction. The idea is simple, split up the […]
St. Jude Dream Home Giveaway
For the past several years, our audit manager, Kevin Fisher, has been a volunteer CPA for the St. Jude Dream Home Giveaway. St. Jude is a wonderful organization that has helped countless children and families over the years. All proceeds from the dream home giveaway will be used for the general operating needs of St. […]
Team Building Day
After a year of working virtually, we were so excited to have an in person team building day! On July 16th, RFH team members participated in a whole day of fun in the form of team building games that involved leadership, listening, communication, collaboration and inclusion. The ability for our staff to work together efficiently […]
Coronavirus State and Local Fiscal Recovery Funds
The American Rescue Plan (ARPA) was signed into law on March 11, 2021. One of the provisions of ARPA is the Coronavirus State and Local Fiscal Recovery Fund (CSLFRF). CSLFRF provides over $350 billion dollars in emergency funding for state, local, territorial and Tribal governments. All but nine Kentucky cities will receive their funding through […]
Congratulations Graduates!
We are so proud of our staff accountants and their achievements! Hannah, Gabby and Ashton graduated from Transylvania University last year but finally got to celebrate with a post covid-19 commencement this past weekend. Congratulations ladies!
How to Select an Auditor
Organizations are frequently faced with the need to hire a firm to audit their financial statements. It can be tempting to issue a request for proposals and select the firm that responds with the lowest bid. Afterall, since there are so many standards that govern financial statements and audit engagements, is there really a difference […]
