FINRA's BrokerCheck

Business Wisdom

As seen in our BWDe Flash in July  The FASB is standing by CECL and its decision to require all publicly traded firms to proactively report and set aside reserves for credit losses, saying the move would make the financial system safer and is worth the cost. As part of its ongoing review of the contentious standard and ongoing controversy, the FASB recently voted to extend the deadline for CECL implementation until January 2023 for small reporting companies, all non-SEC public filing lenders and private and nonprofit lenders. SEC reporting companies who are not considered small reporting companies still must comply by January 2020. FASB plans to publish the proposed changes in mid-August, followed by 30-day public comment period...

Monday, 05 August 2019

Proposed bill would increase tax credit to boost affordable housing

Written by The Rehmann Team

When the 2017 federal tax overhaul reduced banks’ tax rates from 35% to 21%, it also provided less incentive for banks to invest in affordable housing. Now, some lawmakers are proposing legislation aimed at renewing banks’ interest in the tax credits by increasing the amount available for housing developers to sell to investors.  Here’s how it works: developers sell low-income housing tax credits to investors, including banks, in return for equity that reduces their debt associated with building affordable housing apartments and houses. Banks rely on the credits when determining if an investment in affordable housing is a good financial decision...

Monday, 05 August 2019

Multifactor authentication helps protect Against Cyberattacks

Written by The Rehmann Team

Usernames and passwords surely help protect against unauthorized online access. However, even if someone has a unique password for every website visited, that won’t stop malware on a computer or the website itself from stealing confidential information. Security experts agree that two-factor authentication (also called two-step verification) is one of best ways to protect online accounts because it adds a second step in the log-in process. It combines “something you know,” such as a username and password, with “something you have,” such as a PIN, one-time code, fingerprint or other biometric to confirm the identity of the person trying to log into the account...

Monday, 05 August 2019

Call Report requirements reduced

Written by The Rehmann Team

On June 21, 2019, the OCC, Board of Governors of the Federal Reserve and the FDIC published a final rule to implement Section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) which reduces the amount and frequency of information required on Call Reports. Beginning with the September 30, 2019 report, financial institutions with less than $5 billion in total assets will be eligible to file the streamlined FFIEC 051 Call Report as long as they also: Have no foreign offices Are not “advanced approaches institutions” for regulatory capital purposes Are not treated as “large” or “highly complex” institutions for deposit insurance assessment purposes Are not subject to the filing requirements for the FFIEC 002 report of condition The final rule reduces the reporting frequency (from quarterly to semiannually) of detailed information on the risk weighting of assets and other exposures in Schedule RC-R, troubled debt restructurings by loan category in Schedules RC-C and RC-N, website addresses and trade names in Schedule RC-M, and, for certain institutions, fiduciary and related services assets and income in Schedule RC-T.  Institutions with total assets between $1 and $5 billion eligible to file FFIEC 051 will also be able to report estimated uninsured deposits, disaggregated data on the allowance for loan and lease losses, and certain data on consumer deposit account products either semiannually or annually. Institutions with less than $1 billion in total assets are not required to report this data on FFIEC 051...

Thursday, 01 August 2019

Investing with an impact

Written by Jason A. Baum, CFP®, ChFC®, MBA

Most of us know by now that getting regular exercise and eating our veggies is good for us. We may prefer swimming over running, or broccoli to brussels sprouts, but like our preferences for improving personal health, we also make choices for the types of businesses we support through our investing habits. When it comes to investing, incorporating environmental, social, and governance-focused investments may be healthy for you and your portfolio. Environmental, socially responsible and governance (ESG) investing has evolved over time, with socially responsible investing (SRI) laying the groundwork...

Thursday, 01 August 2019

Don’t settle … it’s time to review

Written by Gerald Wernette, CPA, CEBS, AIFA, C(K)P and Jamie Russell

Let’s face it – reviewing your employer-sponsored retirement plan may not be exciting, but avoiding it may hurt your employees’ ability to reach their retirement goals and cost your business in the long run. It's generally a good idea to review your plan annually. If you haven't given it a thorough review within the last 12 months, now may be a good time to do so. Here are 3 reasons why you should take a fresh look: High fees When it comes to saving, many people are more focused on their return and have no idea that high fees are consuming those earnings...

Monday, 29 July 2019

To CFO or not CFO? A small business dilemma

Written by Tom Shemanski, CPA

Whether or not to hire someone to fill a CFO role is a question that many small businesses face. Maybe to help answer this question, we need to ask another. What does a CFO provide beyond what your controller, accounting manager or bookkeeper are providing? Here’s a brief listing of what you could expect from a seasoned CFO: Strategic thinker What’s our value proposition in the market place?..

Monday, 29 July 2019

Making cyber security an asset in your business

Written by John Hey, CBCP, ITIL, Security+ and Jessica Dore, CISA

Cyber security is “mission critical” because of its profound effects across a business. In some industries, it means everything. And for C-level tech executives, cyber security can make or break a career. So, it’s surprising to see how many businesses aren’t prepared for attacks...

Monday, 29 July 2019

Avoid business bunkers with a buy-sell agreement

Written by Derrek Klimek, CFP®, CPA and Erik Schumacher, CPA

Golf and owning a business are a lot alike. It takes hard work and dedicated practice to succeed. Those who reach higher levels usually have a trusted team supporting them. Of course, golf and business can provide ample frustration too!..

Monday, 29 July 2019

Are you missing out? How to qualify for the R&D tax credit

Written by Mike Powell, CPA, MST, CMP

Businesses across the United States are receiving thousands of dollars by taking advantage of the Research and Development (R&D) tax credit. But, unfortunately, there are still many who aren’t fully benefiting from the credit because of misconceptions and uncertainty about applicability. The R&D tax credit is one of the most underutilized tax savings opportunities for taxpayers, so how do you know if you qualify? Background Enacted in 1981 by the Economic Recovery Tax Act, the R&D tax credit rewards companies for investments in developing new or improved products, processes, or techniques, and developing and improving upon production/manufacturing processes...

Page 1 of 137

Meet The Rehmann Team

Start typing a name ...
Searching for "{{nameQuery}}"...
Start typing a experience ...
Searching for "{{experienceQuery}}"...
Start typing a location ...
Searching for "{{locationQuery}}"...
Or view a list of team members