blog | Bowman & Company, LLP | Funeral Homes

Tips for Securing Internet of Things (IoT) Devices

Posted by Michael Thilker, CPA, CITP, Senior Manager on Jan 14, 2020 2:59:40 PM
Tips for Securing Internet of Things (IoT) Devices

Internet-connected devices or Internet of Things (IoT) devices are popular holiday gifts. Now that the holidays are over, our shiny new tablets, phones, smart TVs, watches, and toys are providing hours of entertainment. Before the boxes and instruction manuals are long gone, it is the perfect time to make sure they are secure! These devices usually require personal and/or financial information to complete setup, which includes sending that information over the internet. Without thinking about it, we put in a credit card number or create a password in our haste to play with our new toy or satisfy an impatient child. Security of this sensitive information now resides with the manufacturer or service provider who is charged with keeping it safe from a cyberattack. Attacks and breaches happen every day and are frequently in the news.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

In Memoriam - Thomas P. Duffy: 1929 - 2020

Posted by Bowman & Co on Jan 10, 2020 2:37:11 PM
In Memoriam - Thomas P. Duffy: 1929 - 2020

Bowman & Company LLP extends its heartfelt condolences on the passing of our retired Partner, Thomas P. Duffy.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Events, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

Tips for Keeping your Funeral Home's Finances in Order

Posted by Megan Dovie, CPA, Manager on Aug 13, 2019 11:00:00 AM
Tips for Keeping your Funeral Home's Finances in Order

Good financial management is critical to running a successful funeral home. Here are some quick tips to help ensure you're operating at your best:

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Topics: Funeral Homes

Update on the New Business Interest Expense Limitation

Posted by Bowman & Co on Aug 2, 2019 11:45:00 AM
Update on the New Business Interest Expense Limitation

The Tax Cuts and Jobs Act (TCJA) imposes a new limitation on deductions for business interest expense. The IRS recently issued guidance in the form of proposed regulations. The business interest expense limitation is a permanent change for tax years that began in 2018. Thankfully, many businesses are unaffected. Here's what you need to know.

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Topics: For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare

Decoding "Qualified Business Income" for Flow-Through Entities

Posted by Thomas J. Kleinhans, CPA on Jul 31, 2019 10:00:00 AM
Decoding

For the first time since the Reagan Administration, the U.S. Government has implemented a tremendous shift to the tax code creating major adjustments that have affected millions of taxpayers. To name a few changes, the child tax credit and threshold have increased, the standard deduction has doubled, and the state and local tax deduction has been limited for many taxpayers. Among the significant adjustments to the tax code includes a qualified business income (QBI) deduction for business owners of a flow-through entity. Flow-through entities include LLCs, sole-proprietorships, partnerships, s-corporations, and more. This article will describe the composition of the deduction and who was able to benefit the most from the deduction in 2018 and for years to come.

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Topics: For-Profit Entities, Funeral Homes, Construction, Healthcare

Retired Bowman Partner Honored by AICPA

Posted by Bowman & Co on Jul 29, 2019 4:15:26 PM
Retired Bowman Partner Honored by AICPA

We are proud to announce that retired Bowman & Company LLP Partner John "Jack" F. Dailey Jr., CPA, was presented with the American Institute of Certified Public Accountants' (AICPA's) Special Recognition Award for his influence, commitment, and length of service to the CPA profession.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Events, #BowmanGivesBack, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

Financial Tips for Newly Married Couples

Posted by Bowman & Co on Jul 16, 2019 10:35:00 AM
Financial Tips for Newly Married Couples

In the United States, June marks the start of a peak wedding season that runs through the early fall. All across the country happy couples are discussing their seating charts, selecting a song for their first dance and planning their honeymoons. But there is one conversation that they cannot afford to forget – how they will manage their finances once they become legally married. As the big day approaches, here are some tips to make sure money issues don’t get in the way of happily ever after.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

Three Tips to Save Money on Your Summer Vacation

Posted by Bowman & Co on Jul 12, 2019 11:00:00 AM
Three Tips to Save Money on Your Summer Vacation

For many Americans, taking a family vacation is an relatives across the state, friends across the country or even flying to some far-off region, more than two-thirds of Americans report that they plan to take a vacation this summer. And they’re budgeting $2,373 on average for their vacation travel. That’s a lot of money! Here are some tips to help you and your family save money on your vacation this summer.annual tradition. Whether it’s visiting

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

Prepare to Receive a Social Security Administration No-Match Letter

Posted by Bowman & Co on Jun 14, 2019 10:20:00 AM
Prepare to Receive a Social Security Administration No-Match Letter

The SSA explains that it's seeking to reconcile discrepancies between the names and Social Security Numbers (SSNs) it has on file with the names and SSNs that employers report. The purpose isn't to support enforcement of immigration law, but rather to "properly post employees' earnings to the correct record." That's an important distinction because if you confused such a letter with, for example, a "tentative non-confirmation" red flag coming from the Department of Homeland Security's E-Verify system, you might unintentionally take an action that would get you into trouble.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare

Picking the Right Retirement Plan (Part Three: Loans, Hardships, and Your Responsibilities)

Posted by Megan Dovie, CPA, Manager on May 28, 2019 10:30:00 AM
Picking the Right Retirement Plan (Part Three: Loans, Hardships, and Your Responsibilities)

Welcome to Part 3 of our series on retirement planning for your employees. Part 1 discussed the different types of retirement plans you can offer to your employees. Part 2 discussed the different types of eligibility requirements you can have in place for your plan and when your employees can begin to participate. This month we will briefly explore loans, hardships, timeliness of employee contribution transmittals, and what your responsibilities are if you have to terminate a plan.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services