Congratulations, Rachel Short!
Congratulations to Rachel Short for being officially sworn in as a CPA at the KYCPA Award Banquet on Friday, April 26th. We are so proud of Rachel for all her hard work and dedication!
Nonprofits Exempt from KY Sales Tax
Effective March 26, 2019, with the passing of HB 354, nonprofit, governmental and civic organizations are no longer required to charge Kentucky sales tax on admissions and tangible property sales at fundraising events. This resolves the confusion regarding collection of sales tax by exempt non-profit organizations caused during modifications to the sales tax rules implemented […]
Retired Individuals May Face Higher Kentucky Income Taxes for 2018
While the Kentucky individual income tax rate was reduced from 6 percent to 5 percent for 2018, many retired individuals will have a higher Kentucky income tax liability on the same amount of income as they had for 2017. Specific provisions which typically benefited retired individuals have been modified or eliminated. Beginning in 2018, the […]
IRS Penalty Waiver
IRS Waives Penalty for Underpayment of Estimated Tax and Withholding Shortfall for 2018 The IRS has announced that it is waiving the penalty for underpayment of estimated tax for taxpayers who paid at least 85 percent of their total tax liability during 2018 through withholding or quarterly estimated tax payments. The penalty is usually assessed […]
FASB clarifies guidance on accounting for contributions received and made
On June 21, 2018, the Financial Accounting Standards Board released Accounting Standards Update 2018-08, which clarified the scope and accounting guidance for contributes received and made, which will primarily apply to non-profit organizations. The ASU is meant to assist with the present difficulties and diversity in practice by non-profits in characterizing grants with government agencies […]
Congratulations Hunter Cloud!
Congratulations to Hunter Cloud for passing all four sections of the CPA exam and obtaining his license! Hunter joined us in September 2016 as a graduate from Transylvania University and is a valuable member of our team. RFH is proud of Hunter’s accomplishment, and we look forward to seeing his career flourish.
Ronald McDonald House Volunteer Day
RFH had the honor of volunteering at the Ronald McDonald House Charities of the bluegrass, here in Lexington. This is an incredible organization that makes such an impact on so many lives and families. Our team had a wonderful experience bonding together while cleaning and baking cookies for the residents. If you would like to learn […]
Award of Excellence
Rachel Short received a letter from the KY Society of CPA’s congratulating her on achieving the highest grade in Kentucky on the Regulation section of the Third Quarter 2017 Uniform CPA Examination. She was selected to receive the Award of Excellence at the Fall Awards Banquet on October 27th in Louisville. We are so proud of […]
RFH Attends Peer Review Conference
RFH partners Brad Hayes, Heather Cochran and Andy DeMoss (left to right) attended the 2017 AICPA Peer Review Conference in Nashville, Tennessee on August 14th – August 16th. RFH is committed to staying up-to-date with changing peer review standards. To learn more about our peer review services visit our peer review webpage.
Uniform Guidance Procurement Standards Implementation Delayed
On May 17, 2017 the Office of Management and Budget delayed the implementation of the procurement standards found in 2 CFR 200.317 through 200.326. The new date allows nonfederal entities an additional year to implement the procurement standards required under the Uniform Guidance. The standard allows for entities to delay implementation until years beginning on […]
