Shows
Accounting for TomorrowSeason 2: Episode 12: How Capital Campaigns Can Help Your Nonprofit Achieve Its MissionIn 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 Introductions01:46 Overview of capital campaign and why nonprofits use them03:00 Idaho Botanical Garden's impressive plans for expansion09:37 Capital...2024-06-1724 min
Accounting for TomorrowSeason 2: Episode 11: Navigating the Corporate Transparency ActIn 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 CTA02:47 What is Beneficial Ownership Information (BOI) and the role of FinCEN?04:20 Who needs...2024-05-1420 min
Accounting for TomorrowSeason 2: Episode 10: The Art of Cash Flow Management: A Controller's PerspectiveIn 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 perspective02:14 – How receivables (AR) and payables (AP) impact your cashflow04:52 – The nuances of cashflow in the construction industry05:50 – How subcontractors and contract payment te...2024-04-1021 min
Accounting for TomorrowSeason 2: Episode 9: Tax Planning Opportunities for Extending ReturnsIn 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 Dates05:16 - The Importance of Extending Your Return06:51 - Maximizing Tax Savings with Strategic Planning 10:33 – Retirement Contribution Timing Opportunities 12:55 - Tax Strategy Example For an Extended Retu...2024-03-0627 min
Accounting for TomorrowSeason 2: Episode 8: Harris CPAs Economic Event Recap with Washington Trust Bank and Conrad BallIn 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...2024-02-0627 min
Accounting for TomorrowSeason 2: Episode 7: Keeping Businesses Connected: An Interview with the Boise Metro ChamberIn this episode we welcome the new CEO of the Boise Metro Chamber of Commerce, Bobbi-Jo Meuleman. With extensive experience in state government, Bobbi-Jo discusses the opportunities she sees this legislative session, and the opportunities with the Idaho Launch Program. We’ll hear more about the Chamber’s networking opportunities and how Leadership Boise is bringing young professionals together across industries, then dive into the Chamber’s plans for 2024 to help address transportation, housing, and other issues in the Treasure Valley.Show notes:• 02:22 – Bobbi-Jo’s journey to the chamber• 03:20 - The upcoming legislative season & under...2024-01-1015 min
Accounting for TomorrowSeason 2: Episode 6: Tax Planning for BusinessesIn this episode of Accounting for Tomorrow we dive into the world of tax planning for businesses at year end. Our guests, Cheryl and David, partners at Harris CPAs, share valuable insights on various tax-related topics that businesses need to consider for 2023, including employee retention credits, the inflation reduction act and its impact on tax credits, including energy efficiency and research and development expenses. Join us as we navigate through these key tax planning considerations and many others, to help businesses stay informed and make sound decisions on key ways to minimize their taxes.Show notes:00:35...2023-12-0628 min
Accounting for TomorrowSeason 2: Episode 5: Tax Planning for IndividualsIn this episode of Accounting for Tomorrow, join partners Cheryl Guiddy and David Hutchison from Harris CPAs as they explore crucial aspects of individual tax planning. With year-end approaching, the discussion delves into nuances like tax rates, brackets, and changes for the current year. The experts share insights on timing income, deductions, and effective tax strategies, covering topics such as capital gains, retirement plans, IRA options, Idaho-specific deductions, credits, and updates on electric vehicle tax credits. Emphasizing the role of cash flow and budgeting in tax planning, they also address the intersection of tax decisions with estate planning. Ideal...2023-12-0521 min
Accounting for TomorrowSeason 2: Episode 4: The Commercial Real Estate Landscape: Exploring Current Trends & Challenges with BVAThe latest episode of "Accounting for Tomorrow" brings us an exciting conversation with Holt Haga, the vice president of leasing for Ball, Ventures Ahlquist (BVA). Holt shares his journey in the finance and real estate industry, as well as the vision behind BVA's impressive projects in the Treasure Valley. From the company's expansion plans to the impact of interest rates and supply and demand factors, we delve into the current state of the market. With the growing demand for office spaces and the trend towards class A office product, how will Boise continue to meet the needs of businesses...2023-11-0122 min
Accounting for TomorrowSeason 2: Episode 3: Nonprofit Industry Update with the Idaho Nonprofit CenterJoin us as we explore the current state of Idaho’s nonprofit industry with our guest speakers, Kevin Bailey, CEO at the Idaho Nonprofit Center and Cheryl Guiddy, leader of Harris CPAs nonprofit industry group. We’ll recap the recent Idaho Nonprofit conference, and learn more about what is top of mind for nonprofits heading into 2024. Lastly, we dive into the importance of collective impact and how it plays a role in helping nonprofits fulfill their missions. OUTLINE:01:22 – Who is the Idaho Nonprofit Center?02:28 - Recap of the INC Conference06:52 - Financial Toolkits for Nonprofits: www.strong...2023-10-0920 min
Accounting for TomorrowSeason 2: Episode 2: An Inside Look at the State of the Construction Industry with Idaho AGCJoin us as we explore the current state of Idaho’s construction industry with our guest speaker, Wayne Hammon, CEO at the Idaho Associated General Contractors. Learn how the Chips Act has had an effect on our economy, and how the instability of the labor market has Idaho AGC exploring new creative ways to create new trade labor resources and strategies for its members. We’ll recap the thought provoking sessions at Idaho AGC’s Summer Leadership Retreat, and stay up to date on some upcoming events that the construction won’t want to miss. OUTLINE:1:54 –State of c...2023-08-3121 min
Accounting for TomorrowSeason 2: Episode 1: R&D Tax Credits: Does Your Company Qualify?Have you considered taking advantage of the Research & Development (R&D) Tax Credit as part of your tax minimization strategy? Many companies are surprised to learn that activities they already do to improve their product or service will qualify for this credit, and the savings potential can be immense. In this episode, we sit down with Smith Miller, the founder of Strategic Tax Solutions, to talk all things R&D. We'll explore the history behind the R&D tax credit, identify those that qualify and how it is calculated, as well as an update on the current status of...2023-08-0114 min
Accounting for TomorrowEpisode 8: Promoting Growth Through Community InvolvementOne of the 3 pillars of Harris CPAs mission statement relates to being active in our communities. Whether that is giving back hours through our Community Partnership Award, speaking at industry related events, volunteering at local nonprofits or backing fundraisers for great causes, Our goal has always been to give back to help shape the future of the communities we live and work in. In this episode, we take a look at what community impact truly means to us and how we support that with a culture of giving2023-06-2117 min
Accounting for TomorrowSeason 1: Episode 7: The Value In Extending Your Tax ReturnAs the tax laws become more complex and the IRS continues to delay the finalization of forms, it is becoming increasingly necessary for CPAs to file extensions for their clients, but there are other very important aspects to consider as the deadlines approach. In this episode, Josh Tyree and Robert Shappee walk us through a few additional reasons why it can be more valuable, and often save you money in the end, to extend your tax return.2023-03-2220 min
Accounting for TomorrowSeason 1: Episode 6: Tips For Month-End Closing & Journal Entry ProcessesIn this episode, we'll dive into how businesses can be more efficient in their month end processes with special guest, Pam McClain, head of the accounting services department at Harris CPAs. We'll explore why people find accounting services time-consuming and stressful, and the effects this can have on staff. Secondly, we'll discuss helpful tips for companies to improve their accounting processes, including examining bottlenecks and workload disparities, and looking for ways to automate and consolidate. We'll also touch on the importance of using financial reports to extract value from month-end financials.2023-02-2225 min
Accounting for TomorrowEpisode 5: Year-End Tax Planning for IndividualsAs we approach year end, now is the time for individuals to review their 2022 and 2023 tax situations and take action. In this episode, we’ll chat about some of our suggestions for individuals to consider:1:23 - Effective tax rate and marginal tax rate4:35 - Strategies for large capital gains (deferral and installment sale)5:13 - Types of income and timing considerations (ordinary vs. capital gain income and losses)6:58 - Rental properties and losses10:22 - Itemized deductions, the ABE election11:15 - Charitable giving through a donor advised funds12:55 - Installment Sales15:11 - Strategies for the sale of a property to ad...2022-12-0829 min
Accounting for TomorrowSeason 1: Episode 4: Year-End Tax Planning for BusinessesStrategic tax planning at the end of the year is never a one-size fits all model, but in this episode, we'll share a few of our favorite tax deduction strategies and credits. A few adjustment's at year-end can have huge impacts long-term.Tax Deduction Strategies2:08 - Deferrals, purchases, and rate reductions7:19 - Equipment purchases & depreciation9:13 - Setting up retirement/pension plans10:55 - Timing on year-end bonus payouts11:55 - Method of accounting (cash vs. accrual)13:29 - Net operating lossesTax Credits15:28 - R&D credits18:39 - Inflation Reduction Act & Chip ActOther2022-12-0729 min
Accounting for TomorrowSeason 1: Episode 3: Tips for Being a Client Your CPA Will Love Working WithYear-end planning with our clients is in full swing and we are now setting our sights to the upcoming year. In this episode, we reflect on our top tips on how you can be a client your CPA will love working with. While the concepts might seem simple, we'll peel back the curtain and explain how each of these tips can lead to a more valuable relationship with your CPA, and why that is important. 2022-11-1216 min
Accounting for TomorrowSeason 1: Episode 2: How Lease Accounting May Affect Your OrganizationThe new lease accounting standard is here! Is your organization prepared? In this episode, we'll take a look at the difference between operating leases and financing leases, how this new standard changes the way leases are reflected on your financial statements, and the tools Harris is using to help their clients adopt this new standard. 2022-10-2710 min
Accounting for TomorrowSeason 1: Episode 1: The State of the Accounting IndustryIntroducing Harris CPAs latest venture…. a podcast! Learn more about our hosts, Josh Tyree and Robert Shappee of Harris CPAs. In this episode, we'll dive into the current state of the accounting industry and from our perspective, the biggest challenges that we are facing. From adapting to remote environments and talent shortages, to the changes our clients have seen in their own businesses. 2022-10-1212 min