BlogAll Articles


Your Financial Institution's Role in the Fight Against Human Trafficking

4/24/2018

Human trafficking is much more prevalent than we’d like to believe. With over 600 human trafficking cases reported in 2017, Florida ranked 3rd among all states for reports according to the National Human Trafficking Hotline.  What can you do to combat this crisis?

Read Full Article


End of Tax Season Party 2018

4/19/2018

The 2018 Tax Season tried to hang around as long as it could, but it is now over! Although April 17th looked like the end, the IRS decided to have a few malfunctions and extend the deadline to April 18th! With busy season officially over, we were finally able to celebrate.

Read Full Article


Non-Profits 101: Overcoming Obstacles to Tax-Exempt Status

4/18/2018

In my last blog, I discussed the basics of receiving and maintaining tax-exempt status. Yet, many new non-profits encounter common mistakes and errors that complicate these efforts. Two areas where obstacles are most commonly encountered are payroll and fundraising.

Read Full Article


A Helms-MacBeth Wedding

4/12/2018

Congratulations Stephen and Ron!

Read Full Article


Submission Deadlines: FRVS Survey Data

4/4/2018

DUE APRIL 30, 2018: Submission of updated FRVS survey data to AHCA. The FRVS survey data will be used to calculate your 10/01/2018 FRVS rate.

 

Read Full Article


Tax Scams Across the Nation Part Three: Have You Seen My Tax Refund?

3/27/2018

Identity-theft tax refund fraud occurs when someone uses your stolen Social Security number or Individual Taxpayer Identification Number (ITIN) and then files a tax return on your behalf claiming a fraudulent refund.

Read Full Article


Industry Check-Up: How New Accounting Standards Will Impact Healthcare

3/22/2018

Some of the most significant accounting changes in recent years are right around the corner. Two new standards will have a great impact on healthcare and other entities: revenue recognition and lease standards.

Read Full Article


Advisory Insights: Financial Institutions - Options for Syndicated Loans

3/15/2018

One benefit of performing reviews of accounting operations for our Financial Institution (FI) clients is the chance to review a specific function that while infrequent, is unique to that client.

One such review is that of syndicated loans. These allow FIs to take part in large loans that they would otherwise not be able to originate alone. During a recent review of syndicated loans, the question was raised concerning the proper way to amortize purchase premiums or accrete purchase discounts. 

 

Read Full Article


Leadership in Your CommunityHow to Choose the Right Organization

3/13/2018

As a young professional moving back home to Pensacola over a year ago, I've had the opportunity to start from scratch in building my community involvement. Thankfully, I've found the community to be welcoming and appreciative of young professionals wanting to get involved. In fact, I would take it further to say the community truly embraces new and young professionals trying to make their way. Below are the pieces of advice provided by others that impacted my choices in determining where and how to get involved. 

Read Full Article


What's New? CFPB Releases New Five Year Strategic Plan

3/8/2018

On February 12, 2018 the Consumer Financial Protection Bureau (CFPB) released its Strategic Plan for FY 2018-2022.  A lot has changed since the first five-year Strategic Plan for FY 2013-2017 was published.  

Read Full Article


Avoid Surprises Next YearRevisit Your Wage Withholding

3/6/2018

The IRS has just released the revised Form W-4 online withholding calculator & Form W-4 updated for the Tax Cuts & Jobs Act. The IRS has also recently released the new withholding tables to reflect the new law.  Many taxpayers are seeing increased take home pay because of the new tables. 

 

Read Full Article


Non-Profits 101: Intro to Obtaining Tax-Exempt Status

3/1/2018

Non-profit status and tax-exempt status: what exactly do those terms mean from a tax perspective? Is my non-profit automatically tax-exempt? How do I become tax-exempt? These are just some of the questions I have received over the years. Before we discuss how to earn and maintain the tax-exempt status, you need to understand how the two statuses relate! 

Read Full Article


Bank Regulation AlertHMDA Changes Force Update of CRA Public File Requirements

2/27/2018

Effective January 1, 2018 - The Community Reinvestment Act (CRA) was amended on November 20, 2017 by the Federal Deposit Insurance Corporation, the Federal Reserve and the Office of the Comptroller of the Currency. The joint agency final rule revises the definitions of “home mortgage loan” and “consumer loan” to more closely align to the new revisions of the Home Mortgage Disclosure Act (HMDA).  Both the HMDA and CRA revisions became effective January 1, 2018.

Read Full Article


Goodbye Gabes... It's Terrell Time!

2/26/2018

Jayme Gabes and Jeff Terrell tied the knot on Saturday, February 24th at Old Christ Church in Pensacola, Florida. Friends and family from across the country came together for this special occasion.

Read Full Article


No More Free Lunches... Or Rounds of Golf!Meal & Entertainment Expenses under the Tax Cuts & Jobs Act

2/21/2018

The provisions of the Tax Cuts and Jobs Act will impact every individual and business. One of the provisions that has not been widely publicized but will have significant  impact is the new rules related to meal and entertainment expenses

Read Full Article


William Vander Beasley Has Arrived!

2/20/2018

The Beasley family welcomed its newest member yesterday: William Vander Beasley. Instead of the usual gender reveal, the Beasleys were able to keep the name under lock and key until he was born!

 

Read Full Article


Tax Scams Across the Nation Part Two: Ring, Ring, Ring! Bad Guys on Line One

2/14/2018

Warning: The IRS does not call and leave pre-recorded, urgent messages asking for a call back.

 

Read Full Article


Branch Operations: Dual Control vs. Dual Presence

2/8/2018

Most branch environments have higher-risk areas that require dual control to access.  This is mainly because the theft or misappropriation of the contents in these areas could result in the financial institution suffering a loss.  Increased regulatory scrutiny is often applied to such areas.

Read Full Article


New Requirements for SNF ABNs

2/6/2018

Effective May 7, 2018: New version of the Skilled Nursing Facility Advance Beneficiary Notice of Non-coverage (SNF ABN) is mandated - Form CMS-10055 (2018). CMS is encouraging earlier implementation.

 

Read Full Article


New Medicare Cards Required to Fight Identity Theft

2/2/2018

The Medicare Access and CHIP Reauthorization Act (MACRA) of 2015 requires all Social Security Numbers (SSNs) to be removed from all Medicare cards by April 2019. A new Medicare Beneficiary Identifier (MBI) will replace the SSN-based Health Insurance Claim Number (HICN) on the new Medicare cards.

Read Full Article


To Do Your Own Taxes or Not? That is the Question!

2/1/2018

With tax season just around the corner, the question of whether or not to prepare your own taxes should be on your radar screen. Why? Because that decision is wise to reassess periodically to account for any significant personal changes, and it is best done in advance of filing deadline pressures. Whether you are a veteran DIYer when it comes to preparing your taxes, or you have always outsourced your tax return preparation up until now, considering the options in light of your current circumstances can help you arrive at an informed decision.

Read Full Article


Saltmarsh Financial Advisors Host Implications of Investor Behavior Events

1/31/2018

Saltmarsh Financial Advisors was honored to welcome Christian Newton, Regional Director of Dimensional Fund Advisors (DFA) as a guest speaker for several special events in Pensacola and Destin.

 

Read Full Article


Saltmarsh Hosts Technology Roundtable In Tampa

1/30/2018

On Monday, January 29th, we hosted a roundtable meeting for technology companies. Our discussion focused on recent events, potential challenges, and best practices that are currently impacting technology in the Tampa Bay area and how they could impact the future.

Read Full Article


2018 HMDA FAQ: CRA Public File and Branch Disclosures

1/22/2018

Questions regarding the impact of the new HMDA regulation have been top of mind for our clients. Specifically, many of you have asked how the regulation affects CRA public file and branch disclosures. 

Read Full Article


Tax Scams Across the Nation Part One: Bad Guys Have Gone Phishing

1/18/2018

The IRS is warning taxpayers to stay alert to several tax scams that are occurring across the nation. Phishing, phone scams and identity theft top the list of scams normally reported. Following hurricanes and other recent disasters, the IRS is urging taxpayers to be on the lookout for schemes stemming from these recent events during this year's tax season.

 

Read Full Article


Critical Security Flaw that Affects Your Computers

1/11/2018

As you may have heard on the news, a critical hardware vulnerability was recently discovered that impacts computers all over the world. These flaws are now being more commonly referred to as Meltdown and Spectre. “Meltdown” is the flaw found in Intel Chips that allows malicious programs to gain access to higher-privileged parts of a computer’s memory and “Spectre” is the flaw found in ARM and AMD chips that steals data from the memory of other applications on a machine. 

 

Read Full Article


CFPB Announcement: New Asset Size Thresholds

1/10/2018

Just three business days before the new year, on December 27, 2017 the Consumer Financial Protection Bureau (CFPB) released the following asset size thresholds for year 2018.

Read Full Article


Regulatory Update: Servicemember Lending

1/4/2018

Recently, new regulatory updates have been enacted that impact servicemembers and financial institutions. Stephen MacBeth explains how the National Defense Authorization Act for FY 2018 signed into law by the President impacts servicemembers, while Sarah Oliver offers insight on the new and amended Q&As in the revised Interpretive Rule for implementing the Military Lending Act (MLA). 

Read Full Article


Wedding Bells at Saltmarsh

1/3/2018

We are excited to announce that our own Jacey Sanders is now Mrs. Jacey Banach!

Read Full Article


Welcome Baby Owen Scott Tilley!

1/2/2018

We are very excited to announce the arrival of the Saltmarsh family's newest addition. Owen Scott Tilley was born at 8:05 a.m. on December 29th, weighing in at 8 lbs. and 5 oz.

Read Full Article


Tax Cuts and Jobs Act (TCJA): For Individuals and Businesses

12/21/2017

The Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here's a look at some of the more important elements of the new law that have an impact on businesses and individuals. Unless otherwise noted, the changes for individuals are effective for tax years beginning in 2018 through 2025.

Read Full Article


Avoid Fair Lending Risk! Track Pricing Exceptions

12/13/2017

The tracking and monitoring of pricing exceptions has long been an expectation of financial institution regulators. If you are not already tracking and monitoring these exceptions, you may want to consider implementing procedures to doing so.

 

Read Full Article


Storytelling Matters: Sharing Your CRA Efforts During Exams

12/6/2017

The single piece of CRA-related advice that we most often give our clients is to tell their story. We summarize some of the CRA issues common amongst our client banks, but later, we will share some of the more innovative and original ideas to have come from them.

 

Read Full Article


Fiduciary vs. Suitability: Which is Driving The Investment Advice You Receive?

12/4/2017

In the financial services industry there are two primary parties who can offer investment advice- Registered Investment Advisors (RIA) or investment brokers. The investment advice you receive from these parties may be similar, but a key difference exists between RIAs and brokers. The difference lies in the two competing standards each party is bound to uphold.

Read Full Article


The Truth About Getting Rid of Tax Debt

11/30/2017

If any of you have listened to satellite radio or watch TV, I will assume you have heard those commercials from those specialty tax firms that claim they can settle your debt for “pennies on the dollar.”  Is this too good to be true? Probably.  Is this as common as those commercials say? Absolutely not.

Can you settle your debt for 10 cents on the dollar?  Yes, you can…if you meet the right criteria. 

Read Full Article


Saltmarsh Gobbles Up Annual Thanksgiving Lunch

11/17/2017

As the holidays draw near, we had our annual Thanksgiving lunch with all the fixin's! See all the pics here.

Read Full Article


2018 HMDA Prep: Sample Sizes & Error Thresholds for Examiner Testing

11/16/2017

The guidelines detailed how HMDA Loan Application Register (LAR) data, collected beginning January 1, 2018 will be validated by examiners.  In this article, we elaborate upon two topics that should be of importance to compliance officers -- how the testing sample is selected and the specific thresholds for resubmission due to errors.

 

Read Full Article


Saltmarsh Hosts Technology Roundtable in Tampa Bay

11/13/2017

On Thursday, November 9th our Tampa office hosted a roundtable meeting for tech companies in the Tampa Bay area.

Read Full Article


Saltmarsh Goes Global for 2017 Cook-Off Contest

11/10/2017

Our annual cook-off to benefit Manna Food Pantries boasted all kinds of delicious and festive dishes. This year’s theme was International, so dishes from all around the world were featured. As always, the competition was fierce.

Read Full Article


I See, You See, We May See an IC-DISC in Your Future!

11/9/2017

IC-DISC is an acronym for Interest Charge - Domestic International Sales Corporation. Strict formation and operating requirements must be met, but the tax benefits to you and your company can be substantial. Learn more about the requirements and benefits from John Mascaro.

Read Full Article


Effective Now: New Third-Party Sender Registration Rule

11/3/2017

Attention all Originating Depository Financial Institutions (ODFI), the Third-Party Sender Registration Rule is now in effect. Janice Weisz, AAP, has provided key points to assist you through this registration process and make you aware of additional requirements to keep in mind once the initial registration process has been completed.  

 

Read Full Article


2018 HMDA Prep: Examiner Guidelines for Testing HMDA Data

10/31/2017

Jennifer Paradise, CRCM provides more information to help you in your HMDA Prep for 2018! The Federal Financial Institutions Examination Council (FFIEC) has issued HMDA Examiner Transaction Testing Guidelines for validating Home Mortgage Disclosure Act (HMDA) data collected in or after 2018. 

Read Full Article


Saltmarsh Hosts 2nd Annual Construction Industry Update

10/27/2017

The Construction Advisors at Saltmarsh hosted the 2nd Annual Construction Industry Update on Thursday, October 26th. The half-day seminar featured local experts speaking on our region’s most important industry concerns and developments. 

Read Full Article


Conference Prep: Don't Forget Networking Opportunities

10/26/2017

Seasoned conference pros know that every conference is an opportunity to network, whether you go to attend, exhibit, or both. Here are some networking tips to consider before, during, and after the conference.

Read Full Article


New Technical Corrections to SNF RUG Rates Published for FY 2018

10/17/2017

The Centers for Medicare & Medicaid Services published a technical correction to the SNF RUG rates for FY 2018, effective 10/1/2017.

Read Full Article


Tax Alert: Hurricanes Harvey, Irma and Maria Tax Relief for Businesses

10/12/2017

One of the additional relief provisions added by recent legislation after Hurricanes Harvey, Irma and Maria is the Employee Retention Credit. 

Read Full Article


Interim Rate Adjustments for Skilled Nursing Facilities after Irma

10/2/2017

Will you be getting a bump in your SNF Medicaid rate to cover costs incurred in preparation for or recovery after Irma? Learn more about how to qualify for an interim rate adjustment for your SNF.

 

Read Full Article


Make Your Move: Game Planning for the CPA Exam

9/28/2017

Now for the final piece in our 5 part CPA Exam Series!

It is absolutely imperative that you develop a game plan for test day.  Going into these exams with the mindset of “I’m going to take it one question at a time” is big mistake. Get tips from Brandon Heppler, CPA on how to be ready for test day!

Read Full Article


New Waivers Regarding Care Issued by Center for Medicare & Medicaid Services (CMS) Following Hurricane Irma

9/25/2017

The Reingruber ALERT provides insights from advisors serving the post-acute healthcare community. Learn more about the new waivers authorized by the administrator of the Center for Medicare & Medicaid Services (CMS) following Hurricane Irma.

Read Full Article


Equifax Data Breach: What Does This Mean For You?

9/21/2017

The recent data breach of Equifax, one of three major U.S. consumer credit agencies, has created worry and panic among consumers. Such breaches highlight problems that will likely have an impact on future regulations and legislation. But what about you, the individual? 

Read Full Article


Governor Scott Issues New Emergency Rules for Assisted Living Facilities and Nursing Homes Following Hurricane Irma

9/20/2017

The Reingruber ALERT provides insights from advisors serving the post-acute healthcare community. Learn more about the effects of Hurricane Irma on new emergency rules, tax relief measures, and business interruption loss claims.

Read Full Article


Hurricane Irma Update: IRS Announces Important Tax Relief Information

9/18/2017

The IRS has announced important tax relief information for residents and business owners impacted by Hurricane Irma in the state of Florida.

Read Full Article


How to Help Your Customers Impacted by Hurricane Irma

9/14/2017

We have started getting questions from clients in affected areas about what assistance they should be providing customers in affected areas. What should you be doing to help your customers affected by Hurricane Irma? 

 

Read Full Article


Regulatory Tripwire! Home Equity Line of Credit Statement Format

9/7/2017

Although this topic is not new, it continues to surface from time to time. I want to share a reminder of the regulatory requirements for properly disclosing on the borrower's initial periodic statement for a Home Equity Line of Credit (HELOC) the account-opening (start-up) fees paid out of the first advance.

Read Full Article


No Time to Lose: Prioritizing Your Responsibilities

9/1/2017

Your State Board of Accountancy has approved you to sit for the CPA exams. You have purchased your review course, and you are ready to start studying. Now it's time to get real and ask yourself: “How much time should I commit to studying?” “When will I know that I'm ready to take any of the four exams?” “How long does all this take?” The answer to these questions depends on… you!

Everyone’s learning style is different. However, one thing you must do before you begin studying is this: objectively assess your current responsibilities and prioritize them around your study time.

Read Full Article


Identifying Third-Party Sender Relationships

8/17/2017

In a previous FAQ for the new NACHA rule, I addressed common concerns about the upcoming Third-Party Sender Registration rule, which takes effect on September 29, 2017. A key component of this rule is being able to properly identify Third-Party Sender relationships before the registration period begins. 

Many times, while performing audits, it is determined that the financial institution has customers acting as a Third-Party Sender and don’t even know it.  To help make sure that you are not one of those institutions, here is some information that describes what a Third-Party Sender is and some guidance on how to identify a Third-Party Sender, so you won’t be caught off guard. 

Read Full Article


Welcome Baby Juliana Ryan Strickland

8/10/2017

Say hello to the newest member of our Saltmarsh family. Juliana Ryan Strickland was born at 8:30 p.m. on August 9th, weighing in at 6 lbs and 10.9 oz.

Read Full Article


Relief Regarding Shortage of Appraisers

8/8/2017

Sometimes I don’t know if I’m the only one to get the news or the last to get it. I like to think of it as the art of juggling. In my defense this has been sitting in a ‘to read’ pile for months, but still in my peripheral vision. 

Basically, the federal banking agencies and the NCUA provided options to address the shortage of state certified and licensed appraisers, specifically for lenders operating in rural areas. 

Read Full Article


Set Your Course: Finding the Right Review Plan

8/2/2017

You are working on your education requirements, have applied to your state board, and are waiting for your application to be reviewed. What’s next? Wherever you are in the journey to become a Certified Public Accountant, it is never too early to start considering what review course may work for you, fit your budget, and match your study style. 

 

Read Full Article


Understanding Investment Value and Synergies in a Sale

7/27/2017

When it comes to selling a business, the big question in the owner’s mind is simple: “What’s it worth?” And as any valuation professional will tell you, the answer is, “Whatever the buyer will pay for it.”

Of course, this type of exchange is frustrating for a business owner seeking quick, hard-number guidance on value. But it’s important to remember that value is a somewhat imprecise term. Value depends on the circumstances surrounding the business, its cash flow, financial position, competitive situation, management team and many other factors. 

And in every case, value also depends on the buyer’s goals and what the business can provide for that individual or entity. 

Read Full Article


6 Steps to Better Time Management

7/27/2017

That happy balance between maximizing billable hours and enjoying a personal life can be elusive for attorneys. The trick is to make each moment of the workday count.

This starts with protecting yourself from the time-robbers that lurk outside your door. Here are six tried-and-true time management tactics to put into practice:

Read Full Article


Could You Survive a Trust Account Audit?

7/27/2017

Are your trust accounting practices sufficient? They may not be if your system doesn’t include these essentials:

Read Full Article


Beware of Behavioral Red Flags That May Indicate Fraud

7/27/2017

For most business owners, the idea that a trusted employee would steal from the company is almost unthinkable. After all, many employees have been with the company for years, and some may even be family members.

But the truth is that occupational fraud is a serious threat to businesses of all sizes. According to the 2016 Association of Certified Fraud Examiners (ACFE) Report to the Nations on Occupational Fraud and Abuse, fraud perpetrators tend to display certain behavioral warning signs. These are red flags that all employees should be looking out for to help reduce fraud.

In fact, the ACFE says that at least one red flag was exhibited in 91 percent of the fraud cases they analyzed in the report. And in 57 percent of cases, multiple red flags were observed before the fraud was detected.

Read Full Article


Frequently Asked Questions: Targeting New NACHA Rule & Requirements

7/25/2017

If your financial institution is an Originating Depository Financial Institution (ODFI), make sure that you are aware, informed, and ready to register with the National Automated Clearing House Association (NACHA).  The new Third Party Sender Registration rule will come into effect September 29th, so let us help you prepare!

Here are answers to some frequently asked questions regarding the upcoming Third-Party Sender Registration Rule, and an updated registration link to access the NACHA Risk Management Portal!

Read Full Article


Navigating the Social Workplace

7/20/2017

Social media platforms are legitimate business tools; therefore, companies must place a high priority on developing social media etiquette.  Participating on your company’s social media platforms (Twitter, Facebook, blogs, LinkedIn, etc) can benefit both you and your company.  

Here are some things to consider when you participate on your company’s social media platforms.

Read Full Article


Saltmarsh Flies into Top Gun Summer Volleyball Tournament

7/18/2017

Thinking we might have lost that loving feeling after a busy spring, we decided to brave the “danger zone” and unwind with a Top Gun Summer Volleyball Tournament last Friday. Our afternoon was filled with so much good food, fun, and 80’s music even Kenny Loggins himself would have approved.

(And, as you will see in our photos, everyone agreed to opt for a badminton net since we didn't want anyone writing checks their bodies couldn't cash!)

Read Full Article


You May Be Seated! Preparing to Sit for the CPA Exam

7/13/2017

As discussed previously, passing the CPA exam is a daunting challenge, yet it is only a step along the journey toward one ultimate goal – to become a Certified Public Accountant. A successful exam preparedness plan begins with researching what is required to be a licensed CPA in your chosen state and then crafting a plan of attack to fulfill all of the state’s licensure requirements. 

I cannot stress enough the importance of these initial steps. I began my CPA journey with a misunderstanding about the educational requirements needed for licensure, and it hindered my progress by more than a year. My failure to plan correctly wreaked havoc upon my financial planning, affected my timeline for taking the CPA exam and delayed starting my career in public accounting.

Read Full Article


Jen Mostert Earns Certified Government Financial Manager Designation

7/13/2017

We are proud to announce that Jen Mostert has passed the Certified Government Financial Manager examination and has officially earned the designation of CGFM by the Association of Government Accountants (AGA). 

Congratulations, Jen!

Read Full Article


Saltmarsh Hosts July Manufacturing Roundtable

7/12/2017

Our Tampa office hosted Saltmarsh's July Manufacturing Roundtable. This discussion provided a forum for CFOs, COOs and owners from different companies in our community to discuss current events, initiatives and practices that are impacting the manufacturing sector.

Read Full Article


Cancellation of Debt Part Two: Exceptions to the Rule

7/6/2017

In my last blog, I discussed the “normal” tax consequences of having a debt canceled by your creditor. But, there are exceptions to the “norm.” These exceptions do allow for the forgiven debt to be “erased” from your income; however, this exclusion from income could reveal that you are even in worse shape than you thought! 

Let’s discuss the six primary exceptions for your canceled debt.

Read Full Article


Scharf Speaks on R&D Tax Credit at University of South Florida Seminar

7/3/2017

Did you know? The IRS estimates that only 10% of companies that qualify for the R & D Tax Credit actually take advantage of it. Glenn Scharf partnered with the University of South Florida recently to help explain just how accessible this credit has become in 2017!

Read Full Article


CPA Exam Prep: From Daunting to Doable

6/29/2017

The CPA exams are difficult. Unfortunately, no magic Tips on How to Pass or 5 Do’s/Don’ts or even the top-rated study materials can guarantee you a passing grade on your exams for CPA licensure. What you can do is ensure that you’ve prepared for every step of the process. 

We asked four young CPAs who have recently passed or are in the process of taking their exams what they wish they had known before taking their first step towards getting their CPA license.

Read Full Article


Your Credit Report: Some Things in Life are Free

6/23/2017

Your credit history plays a key role in so many things (e.g., loan approvals, apartment leasing, job opportunities, etc.) that it's crucial to ensure the information in your credit report is correct.  You are entitled by law to a FREE copy of your credit report from all three consumer reporting agencies (Equifax, Experian and TransUnion) every 12 months.  You can obtain the report in several ways!

Read Full Article


Working Remotely: Perks & Pitfalls

6/14/2017

So you want to work remotely?  Being able to work from home, out of the office, or off the job site sounds like a great idea, and it can be! But like anything else, it comes with unique perks and pitfalls of which you need to be aware.  Here are a few simple “Do”s and “Don’t”s to aid in your decision to work remotely and help you become successful at it.

Read Full Article


Cancellation of Debt Part One: Tax Consequences on the Horizon

6/8/2017

So, after several months of wrangling, testy email exchanges and awkward personal meetings where you’ve dragged along your attorney and CPA, that creditor who by now has become a household name (banker, or seller who took back a purchase money mortgage, or the credit card company, etc) agrees to forgive and formally cancel some or all of the debt you owe them, an issue that has been a thorn in your side for over a year.  

Your first reaction is to jump for joy, call the spouse, and plan a celebratory dinner - of course.  And that may be an understandable first reaction – after all you will not have to deal with the burdensome principal and interest payments, no more harassing emails, letters and phone calls, you can stop chugging that Pepto-Bismol® at lunch, and finally get to do something your friends say is quite an enjoyable pastime – What’s that they call it? - Oh yeah, sleep.

Not so fast.

Read Full Article


Bank Regulation Alert: Changes in CRA Notices

6/2/2017

Effective January 18, 2017 - The FDIC changed their CRA Notice model language (main office and all branch locations). If your primary regulator is the FDIC, please be sure to update your CRA lobby notices as soon as possible. Keep in mind these two things.

Read Full Article


4 Reasons Why Your Start-Up Needs a CPA

5/25/2017

Accounting is the language of business.  You have probably heard this phrase before. But what if you aren’t fluent?  Should you be spending hours and days learning a new language when you are launching a new business? Not at all!  Let a CPA help you.

 

Read Full Article


Saltmarsh Financial Advisors Host 4th Annual Night at the Ballpark

5/23/2017

Once again, Saltmarsh Financial Advisors hosted a great evening with clients at a Pensacola Blue Wahoos game for the fourth year running. Good food and cold drinks were enjoyed from the Coors Light Party Deck, which gave our group an amazing view of the game. 

Read Full Article


Saltmarsh Gives Back on CPA Day of Service

5/22/2017

The CPA Day of Service is an annual event where CPAs throughout Florida volunteer in their communities. On Saturday, May 20th, employees from our Tampa and St. Pete offices volunteered at Feeding Tampa Bay and the Ronald McDonald house. 

Read Full Article


Sponsoring a Health & Welfare Benefit Plan: Are You 5500 Compliant?

5/17/2017

Many employers/plan sponsors wonder, “Do I have to file a Form 5500 for my Health and Welfare Plans?”  While most employers/plan sponsors are very familiar with filing the Form 5500 for their retirement plans, many are not as confident about the Form 5500 filing requirement for their health and welfare plans. 

Health & Welfare Plans provide benefits such as medical, dental, and life insurance. In 2002, the Form 5500 filing requirement was amended by the IRS, but many initially believed that the requirement had been fully suspended.  However, the requirement was only lifted for some employers; but, for others (those not meeting the exemptions), the requirement remained in place and continues to be an annual requirement.

Read Full Article


Saltmarsh CPA - Who We Are

Who We Are

Our professionals have the depth of experience, industry knowledge and worldwide resources to help you reach your goals. We put your success above all else as your trusted advisor.

Saltmarsh CPA - What We Do

What We Do

Saltmarsh offers a full range of professional services to accommodate your needs – from tax planning and accounting services to information technology and employee benefits consulting.

Saltmarsh CPA - Who We Serve

Who We Serve

Saltmarsh serves individuals and businesses. Personal attention, access to the right professionals and rapid response is how we serve.

Contact Us

FORT WALTON BEACH
(850) 243-6713

ORLANDO
(407) 203-8990

ST. PETERSBURG
(727) 821-9200

NASHVILLE
(615) 661-0885

PENSACOLA
(850) 435-8300

TAMPA
(813) 287-1111

info@saltmarshcpa.com
(800) 477-7458

Stay Connected

Sign up to receive updates and important information from Saltmarsh!