Stay up to date on the latest news and practices impacting today’s businesses.

IRS Eases Rules for Certain Retirement Plan Rollovers

The IRS has released taxpayer-friendly final regulations regarding certain retirement plan rollovers. Specifically, the new rules should make it easier — and less costly — to transfer after-tax funds from designated Roth accounts to Roth IRAs or other designated Roth accounts. Read more.

Free Money! The Domestic Production Activities Deduction

Some people say there is no such thing as free money.  But what if we told you that the federal government was willing to give you an additional tax deduction on your income tax return, and that this deduction won’t cost you anything because it is based on everything that you are currently doing?  Additional free tax deductions equate to additional free money in your pocket.  Are you interested yet? Read more.

Back-of-the-House Tip Pooling to Cease Dec. 5, 2016

The Ninth Circuit Court of Appeals ruled on Feb. 23rd, 2016 in support of The U.S. Department of Labor regulations prohibiting the inclusion of employees not customarily tipped, such as kitchen employees, in a tip pool or tip sharing arrangement. The Washington Restaurant Association ("WRA") petitioned the court to reconsider the ruling. Read more.

Peterson Sullivan Announces New Tax and Audit Directors

Peterson Sullivan, a Puget Sound Top 7 accounting firm, announced today the appointments of Rob Keasal, CPA, to Tax Director and Nathan Hartman, CPA, to Audit Director. Read more.

Thought Leadership

Read a few of our latest viewpoints as our team of experts look at the immediate and long-term issues facing our clients.

Let's Get a Little Technical (About Accounting Stuff)

Having worked with many technology companies over the years, we have found there are areas these companies consistently deal with that provide real complexity from an accounting perspective.  While it may not always seem intuitive, the accounting for these areas must be looked at to ensure the financial statements are compliant with accounting standards.  Provided below is a brief summary of these areas.  Read More.

How to Hit a Home Run with Your Board Minutes

Minutes of your board’s meetings may seem like a mere formality, but they’re much more than that. Board meeting minutes reflect on your board of directors and your organization’s actions. Savvy nonprofits don’t bunt their way through creating these documents — they try to hit them “out of the park.” Read More.

Collaborative Activities: Are You Reporting Them Correctly?

More and more nonprofits are joining forces to better serve their client populations and cut costs. But such relationships can come with complicated financial reporting obligations. As this article explains, the organization’s reporting requirements will depend on the type of relationship the nonprofit enters, such as a collaborative arrangement, a merger, a new legal entity, or cessation of control without creation of a new legal entity. Read More.

Understanding the New Lease Accounting Standard

Recently, the FASB issued its long-awaited lease accounting standard. Accounting Standards Update No. 2016-02, Leases (Topic 842), will have a big impact on the financial statements of companies that lease real property, equipment, vehicles and other fixed assets. Read More.

Industries and Services

Fraud & Forensic Accounting

From time to time questions about the financial integrity of a business or personal situation can arise. Speculation, theories and suspicions are a natural... Read more.

Succession Planning

Your objectives and vision for your company are important elements in your quest for a new owner. This process can be challenging... Read more.

Mergers & Acquisitions

Many business owners are involved in a sale, merger or acquisition once or maybe twice during their lives.  Read more.