by Borland Benefield Staff | Dec 14, 2022 | Articles for December 2022, Birmingham Accountants, Government Actions, Municipal Audits
Act 2022-345 (HB256) was recently passed into law by the Alabama Legislature. HB256, also known as the Municipal Audit Clarification Act, details how mayors or city managers of a municipality should audit their municipality’s financial expenditures and how often these...
by Borland Benefield Staff | Dec 1, 2022 | Articles for December 2021, Birmingham Accountants, Borland Benefield Staff, Nonprofit Auditing
The greatest gift someone in need can receive is a helping hand. One of Borland Benefield’s oldest nonprofit clients, the Presbyterian Home for Children, has been reaching out and lifting those in need for more than one hundred and fifty years. Thanks to PHFC,...
by Borland Benefield Staff | Nov 17, 2022 | Articles for November 2022, Borland Benefield Staff, Government Actions, Tax Related, Thought Leadership
Inflation continues to strain American families as the country grapples with the aftereffects of the COVID-19 pandemic. To overcome these challenges and face the growing concerns of a recession, the government passed the Inflation Reduction Act of 2022 on August 16....
by Borland Benefield Staff | Nov 3, 2022 | 401(k), Articles for November 2022, Birmingham Accountants, Borland Benefield Staff, Thought Leadership, Wealth Management
In today’s tough economy, you may find yourself struggling to cover your day-to-day expenses. But rising interest rates are making traditional loans more expensive. In such an environment, you might consider borrowing funds from your 401(k) retirement account,...
by Borland Benefield Staff | Oct 21, 2022 | Articles for October 2022, IRS, IRS audit, phishing, Tax Related
One day in late July, Cassandra received an email from the IRS informing her that she had failed to pay her taxes. The email threatened fee after fee for Cassandra’s mistake, totaling up to thousands of dollars. Worse, the email alluded to possible criminal charges...
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