REDW Principals Corrine Wilson & Bruce Bleakman Contribute to Landmark NAFOA’s Financial Reporting Guide

  |  April 25, 2017

The Native American Finance Officers Association (NAFOA) is set to release its new Financial Reporting and Information Guide for Tribal Governments and Their Enterprises (Orange Book) at its 35th Annual Conference in San Francisco April 23-27.

The new book marks several milestones. Not only is it the first accounting publication to address the unique operating environment of tribal governments, but it also was produced by a team of highly experienced professionals who work in Indian Country. In announcing the Orange Book, NAFOA credits its Financial Management advisory committee – and in particular, two of the leaders of REDW’s Tribal practice who wrote many of the volume’s 10 chapters. Read more. Read More

Overtime Regulations Injunction is Temporary – Not Permanent

  |  December 1, 2016

Employers take note: The preliminary injunction granted on Nov. 22, 2016 by a Federal District Court in Texas is only temporary – not a permanent ruling. The injunction, which blocks the U.S. Department of Labor from implementing and enforcing its recently revised regulations on white collar exemptions to the Fair Labor Standards Act (FLSA), simply prevents the regulations from taking effect on Dec. 1. Read more. Read More

Proposed Regulations May Limit Valuation Discounts for Estate and Gift Transfers

  |  August 28, 2016

In our Summer 2015 Valuation & Forensics newsletter, we reported that "Valuation Discounts on Certain Transfers May Soon Be Limited," and one year later, it appears this may finally come to pass. In early August 2016, the IRS proposed new regulations that are designed to limit valuation discounts in intra-family transfers of ownership interests in corporations, partnerships, limited liability companies and family limited partnerships. Read more. Read More

New Overtime Rule: 5 Steps for Tribes to Get Ready

  |  June 16, 2016

The Department of Labor has finalized a rule that raises the salary threshold at which eligible workers qualify for overtime from $23,660 to $47,476 a year. Set to become effective on Dec. 1, 2016, the new threshold also will automatically increase every three years based on wage growth over time. With plenty of time to prepare, Tribes should consider five steps to be ready for the added salary expense. Read more. Read More

Attention Arizona Taxpayers: Increased State Tax Credits Help You to Do Good

  |  May 23, 2016

Arizona taxpayers now have five different state tax credit options that allow taxpayer’s charitable contributions to qualify for a dollar-for-dollar reduction of their Arizona income tax liability. These donations also qualify for a federal charitable deduction. What’s more, taxpayers can direct each of their tax credits to a specific charitable organization.

Arizona’s 2016 legislative session saw a change to a number of Arizona’s tax credits with some increasing or separating from other credits. Read more. Read More

Quality of Earnings: Important Considerations for Buyers and Sellers

  |  April 27, 2016

When it comes to evaluating “quality,” buyers, sellers and, most importantly, financial institutions, often have widely diverse opinions, that can greatly affect their decision to proceed with a particular transaction.

Nobody likes surprises. All parties involved spend considerable time and energy just to get to a proposed transaction. In evaluating the quality of earnings, the elements that always receive significant attention are the depth and breadth of the businesses’ key customer/vendor relationships; repeatable business processes that are executed daily without exception; and the strength of key staff beyond the owner(s). Read more. Read More