On Friday, August 29, 2014, the Council on Financial Assistance Reform (COFAR) released the second set of FAQs related to understanding and applying the new Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, otherwise known as the Supercircular. Over two hundred questions and comments have been received from grantors, grant [...]

Having a strategic plan is essential to ensure a nonprofit’s vision and mission are fulfilled. Not every plan is a strategic plan though, and too often strategic plans collect dust on a shelf, rather than being a living and breathing document. TCC Group’s "Ten Keys to Successful Strategic Planning for Nonprofit and Foundation Leaders" is a great resource for Board’s a [...]

The results of the first-ever statewide nonprofit economic and social impact study were shared last Friday at the CalNonprofits 2014 Policy Convention in Los Angeles. One finding that struck me was that Californians who responded to the individual perspectives part of the survey expressed slightly more confidence in nonprofits to create jobs in the community and to wo [...]

Welcome to the Entertainment Newsletter, containing content related to the people, news and business issues we see in our day-to-day service to the industry.In this issue:The Impact of the New Revenue Recognition Standard on the Media and Entertainment IndustryOn May 28, 2014, the International Accounting Standards Board (IASB) and the Financial Accounting Standards B [...]

The purpose of this Quarterly California Tax Legislative Update is to provide our clients and prospective clients with timely and meaningful updates that affect both their personal income and business taxes. The 2nd Quarter of 2014 saw California provide an update on potential legislation that would change the definition of an ownership change for real property tax [...]

As many of you know, I serve on the Board of the Downtown Women’s Center, a wonderful organization committed to ending homelessness for women. At a Board meeting earlier this month, our CEO, Lisa Watson, shared some of the nonprofit trends she has been observing. One trend she noted was that the government is looking at Social Impact Investment and Social Impact Bonds [...]

On May 1, 2014, the California Supreme Court ruled 4-3 that state consumer protection laws do not provide recourse to customers on excess sales tax reimbursements. See Loeffler v. Target Corp., Cal. Sup. Ct. No S173972 (5/1/14). The issue at hand was whether customers could challenge sales tax determinations made by a retailer in Court based on state consumer protecti [...]

On May 1, 2014, the California Supreme Court ruled 4-3 that state consumer protection laws do not provide recourse to customers on excess sales tax reimbursements. See Loeffler v. Target Corp., Cal. Sup. Ct. No S173972 (5/1/14). The issue at hand was whether customers could challenge sales tax determinations made by a retailer in Court based on state consumer protecti [...]

The first quarter of 2014 was a relatively quiet time in California from a tax legislative perspective. The Franchise Tax Board ("FTB") upheld its position that pretty much all income in California should be treated as apportionable business income based on a Superior Court ruling that a merger termination fee is apportionable business income in California. The State [...]

The purpose of this Quarterly California Tax Legislative Update is to provide our clients and prospective clients with timely and meaningful updates that affect both their personal income and business taxes.The first quarter of 2014 was a relatively quiet time in California from a tax legislative perspective. The Franchise Tax Board (FTB) upheld its position that pret [...]