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How to Triage a Website Breach and Enhance Your Organization's Cybersecurity Strategy
Posted by John Robichaud on Tue, Sep 29, 2015 @ 01:05 PM

Data breaches affect all organizations, from small not-for-profit organizations to large commercial retailers. Should your organization fall victim to a cyberattack, the results could be devastating. The average cost of a data breach in 2014 was $3.5 million. Furthermore, threats to cybersecurity appear to be increasing both in quantity and in severity. Data breaches doubled from 2012 to 2013, and from 2013 to 2014, the average cost of data breaches went up by more than 15 percent.

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Topics: John Robichaud, cybersecurity, triage a website breach

Private Companies Given Accounting Alternatives for Acquired Intangible Assets
Posted by John Cronin on Tue, Sep 29, 2015 @ 10:46 AM

Private companies have a new option for the recognition of identifiable intangible assets in certain transactions. Released December 23, 2014, the Financial Accounting Standards Board (FASB) ASU No. 2014-18, Business Combinations (Topic 805): Accounting for Identifiable Intangible Assets in a Business Combination permits an alternative for a qualifying private company to not record or measure certain intangible assets that would otherwise be required to be recorded at fair value as part of the following transactions:

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Topics: accounting, John Cronin, private companies, intangible assets

Will Revenue Recognition Changes Signal the End of Customer Loyalty Programs?
Posted by Paul Languirand on Tue, Sep 29, 2015 @ 06:30 AM

Impending accounting changes may mean more businesses decide to reconsider their customer loyalty programs. Initiatives that provide incentives to returning customers already require a careful balancing act between risk and reward. Though they allow companies to track client purchasing activity, customer loyalty programs can also trigger unclaimed property exposure, cybersecurity liabilities and other risks. The new revenue recognition guidelines, which begin to roll out in 2018, may tip the scale in the other direction and have more businesses deciding their customer loyalty programs are not worth the risk.

Businesses with customer loyalty programs or that are considering incentives for customers should review the current environment for loyalty programs and how that environment may change under Accounting Standards Update 2014-09 Revenue from Contracts with Customers (Topic 606) before they decide the fate of their program.

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Topics: Paul Languirand, Revenue recognition, customer loyalty programs

11Key Financial Benchmarks from the CBIZ Tofias 2015 Survey of ArchitecturalFirms
Posted by David Swan on Mon, Sep 28, 2015 @ 12:47 PM

Is your firm underperforming or on track?

We recently announced the completion and publication of our 2015 Survey of Architectural Firms in Greater Boston, providing an overview and analysis of key industry statistics and best practices. We’re pleased to offer this quick way to benchmark your firm’s performance against the average results indicated by survey respondents:

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Topics: David Swan, 2015 Architectural Survey

Payment of Plan Expenses from Plan Assets: A Case Study
Posted by Diane Caron on Mon, Sep 28, 2015 @ 10:25 AM

Compliance with qualified retirement plan requirements can be difficult, particularly when evaluating whether plan assets can be used to cover the costs incurred by the plan.

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Topics: retirement plans, ERISA-Qualified Retirement Plans, Diane Caron, compliance

Stopgap Highway Bill Includes New Tax Compliance Measures
Posted by Chrissy Hammond on Fri, Sep 25, 2015 @ 05:00 PM

An eleventh-hour temporary extension of federal highway and transportation spending is partially paid for by new tax compliance requirements. The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (H.R. 3236) was approved by the House, 385 to 34, on July 29, and the Senate on July 30, by a 91-4 margin. This stop-gap bill changes the filing deadlines of certain returns, modifies mortgage reporting, clarifies the six-year statute of limitations in the case of overstatement of basis, and requires consistency between estate tax value and income tax basis of assets acquired from a decedent. The bill also provides that employees with TRI-CARE or VA coverage may be exempted from the Affordable Care Act's employer shared responsibility requirements and clarifies veterans' eligibility for a health savings account (HSA).

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Topics: tax compliance, Affordable Care Act, Stopgap Highway Bill

Proposed Changes to Family Valuation Discounts
Posted by Stephen Houlihan on Wed, Sep 23, 2015 @ 09:51 AM

The use of valuation discounts is an important tool for estate planning. Discounts are commonly claimed for lack of control (minority interest discount) and lack of marketability. Applying such discounts in the context of family-controlled entities has long been a point of contention for the IRS. Unsuccessful in attempts to restrict the use of valuation discounts through legislative changes, the Treasury Department is contemplating new regulations to accomplish this goal.

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Topics: estate planning, Stephen Houlihan, valuation discounts

4 Key Findings from the CBIZ Tofias 2015 Survey of Architectural Firms
Posted by David Swan on Wed, Sep 9, 2015 @ 12:39 PM

Signs indicate that architectural firms continue to maximize their resources and usher in profits.

CBIZ Tofias is pleased to announce the recent completion and publication of our 2015 Survey of Architectural Firms in Greater Boston providing an overview and analysis of key industry statistics and best practices.

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Topics: David Swan, architecture firm, 2015 Survey of Architectural Firms

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