Articles From Lumsden McCormick

Lumsden McCormick provides resources to assist you as you plan for your business and personal success. Articles published by our accountants, resources available through our affiliation with the BDO Alliance USA, and our industry-specific newsletters are listed below.

Accounting Methods: Private Companies Have Options

Posted by Michael Grimaldi on June 21, 2021

Different companies have different financial reporting needs. Is your current accounting method a good fit, or is it time for a change?

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Which States Are Opting Out of Federal Unemployment Benefits?

Posted by Mark Stack on June 18, 2021

In recent weeks, many employers have complained about how difficult it is to fill job openings. COVID-19 cases are drastically falling, yet some businesses can't get all their employees to come back to work. Which states have ended the $300 per week federal unemployment benefit in a bid to encourage people to return to the workforce?

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Sandwich Generation in a Unique Situation

Posted by Robert Ingrasci on June 17, 2021

Although it may be personally gratifying to financially help your elderly parents, being a member of the “sandwich generation” can result in estate planning complexities.

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Collective Impact Projects Benefit Nonprofit Organizations

Posted by Sarah Hopkins on June 17, 2021

Your nonprofit doesn’t have to tackle big, complicated social challenges alone. Collective impact initiatives bring charities, businesses, and communities together. Here’s how.

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Tax-Favored Ways to Build Up a College Fund

Posted by Kevin Smeader on June 17, 2021

Your college savings can go farther with tax-favored vehicles. Here are some options.

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Q3 Tax Calendar: Tax Deadlines for Businesses

Posted by Jonathan Herdlein on June 17, 2021

Although you might want to enjoy the lazy days of summer, employers and businesses should be careful not to miss these third quarter 2021 tax deadlines.

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HHS Releases Updated Reporting Requirements and Auditing

Posted by Jill Johnson on June 17, 2021

The U.S. Department of Health and Human Services has published updated reporting guidance related to Provider Relief Fund (PRF) awards.

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Why Nonprofit Board Members Need to Know About Fiduciary Duties

Posted by Cathleen Karpik on June 16, 2021

From financial oversight to risk management to avoiding conflicts of interest, there’s a lot that nonprofit board members need to know. 

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Guide Your Family with an Estate Plan Road Map

Posted by Cheryl A. Jankowski on June 16, 2021

An estate planning “road map” can help steer your family in the right direction at the time when it’s needed most.

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Accounting Estimates Present Challenges in Times of Uncertainty

Posted by Jonathan Roller on June 14, 2021

Making subjective accounting estimates would be a lot easier if you had a crystal ball or a time-travel machine. In the absence of such tools, managers and auditors may need to adjust their mindsets for market volatility.

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