The fall Houston Energy Breakfast from KCA is on Friday, September 20, 2019 at the Norris Conference Center. PKF Texas is once again proud to be the Networking Sponsor of this event.

The Houston Energy Breakfast promo banner, showcasing the four speakers

 

Continuing the conversations in “Evolving in the Energy Sector Means…”, the speakers of the September edition are:

  • T. Dukes, Research Director, Wood Mackenzie
  • Allen Gilmer, Founder, Drillinginfo, Inc. – now Enverus
  • Steve Barrett, Senior Vice President Business Development, Oceaneering
  • Keith Barnett, Senior Vice President, ARM Energy

The Houston Energy Breakfast is a thought leadership event, which provides attendees with valuable knowledge and opportunity to meet and connect with other like-minded industry professionals, including senior energy executives from all sectors of oil, natural gas, power and renewable industries.

Team members from PKF Texas and our joint company, Joint Venture Strategic Advisors, will be at the breakfast, as well as meeting and talking with guests at our networking station.

For full details, visit www.kca-us.com/EVENTS.

Following our July 16th employee benefit plan seminar, PKF Texas hosted “Employee Health & Wellness: Using Data Analytics to Improve Employee Engagement, Productivity and Reduce Costs.” Audit Senior Manager, Kristin Ryan, CPA, moderated the panel, which included:

  • Rabih Suki, Founder, CEO and CSO, DHS Group, and
  • Lara Bunn, National Population Health Management Operations Leader, USI

Continue Reading Recap: Employee Health & Wellness Seminar with DHS Group and USI

Borrowing isn’t just for businesses. Many not-for-profits borrow money for major capital purchases, new program funding and even to manage current cash flow. But if you’re hoping to borrow, it’s important to understand that there are likely to be obstacles ahead, including finding a lender that offers reasonable rates.

two men meeting, paperwork on a wooden table, perhaps a lender meeting for nonprofit organizations

Continue Reading Finding a Lender for Your Not-for-Profit Can be Tough…

Here are some of the key tax deadlines affecting businesses and other employers during the fourth quarter of 2019.

Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.

October 15
If a calendar-year C corporation that filed an automatic six-month extension:

  • File a 2018 income tax return (Form 1120) and pay any tax, interest and penalties due.
  • Make contributions for 2018 to certain employer-sponsored retirement plans.

October 31
Report income tax withholding and FICA taxes for third quarter 2019 (Form 941) and pay any tax due. (See exception below under “November 12.”)

November 12
Report income tax withholding and FICA taxes for third quarter 2019 (Form 941), if you deposited on time (and in full) all of the associated taxes due.

December 16
If a calendar-year C corporation, pay the fourth installment of 2019 estimated income taxes.

Contact your trusted advisor to ensure you’re meeting all applicable tax deadlines and to learn more about the filing requirements.

The SEC issued two final rules affecting broker-dealers and investment advisors in an open public meeting on June 5, 2019, which are effective September 10, 2019.

These new rules are designed to increase investor protections and require broker-dealers to adhere to a new standard of conduct, which goes beyond the basic suitability standards currently in place. Although this is still not equivalent to the fiduciary standard required by investment advisors, this new rule will result in big changes with broker-dealers and how they manage and avoid conflicts of interest. Continue Reading Two SEC Rules Impact Broker-Dealers and Investment Advisors, effective Sept. 10, 2019

It’s never easy to say “no” to a generous donor. But a gift acceptance policy can make the decision and process easier. When you receive a personal gift from a friend or family member — even if it’s not something you particularly want — you accept the gift and thank the person. The same isn’t always true of gifts given to your not-for-profit.

a gift wrapped in brown paper tied with a pink bow to signify a gift acceptance policy for not-for-profit organizations

Why? There are many reasons, from space limitations to unsuitability to your mission. Gifts should be examined, and, possibly, refused.

Continue Reading Creating a Gift Acceptance Policy for Your Not-for-Profit

If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The third 2019 estimated tax payment deadline for individuals is Monday, September 16.

open calendar book to emphasize importance of September 16 tax deadline

Even if you do have some withholding from paychecks or payments you receive, you may still have to make estimated payments if you receive other types of income, such as Social Security, prizes, rent, interest and dividends.

Continue Reading Are You Ready for September 16 Tax Deadline?

Jen: This is the PKF Texas Entrepreneurs Playbook. I’m Jen Lemanski, and I’m back again with Nicole Riley, an Audit Senior Manager and one of the faces of PKF Texas’ Not-for-Profit team. Nicole, welcome back to The Playbook.

Nicole: Thanks, glad to be here.

Jen: Now as a CFE I know you talk about fraud – Certified Fraud Examiner. What is occupational fraud, and can it happen in a not-for-profit organization?

Nicole: So occupational fraud really is a fancy word for employees stealing. And yes, unfortunately it does happen in the not-for-profits. The 2018 Report to the Nation by the Association of Certified Fraud Examiners found the median loss at a not-for-profit was $75,000 per instance.

Jen: Wow.

Nicole: Yeah. It is actually better than the for-profit loss; the median loss there was $164,000, but not many nonprofits that I know can handle a $75,000 loss in their budget, and that doesn’t even consider the indirect impact on their reputation or the loss of donor trust.

Jen:  Right. So, how does fraud happen in a not-for-profit organization? It seems like there’s so few people you’d be able to catch it quick.

Continue Reading How to Prevent Occupational Fraud in Your Not-for-Profit

As accountants and trusted business advisors, we enjoy working with you to co-create ideas and co-develop innovative solutions for your business. To supplement this, we also want to provide valuable information, including upcoming Houston events that we support, and think may be of interest to you.

  • KCA Houston Energy Breakfast
  • PKF Texas and Houston Business Journal
  • Client Exclusive – Employee Benefit Plan Seminar
  • Greater Houston Women’s Chamber of Commerce
  • National Association of Corporate Directors
  • Texas CPA Society – Houston Chapter

If you have questions about any event details or registration information, the organization-specific contacts are below. We hope to see you at any or all of these Houston events!

Continue Reading Mark Your Calendars! Upcoming September 2019 Houston Events…

Most not-for-profit board members are unpaid volunteers. They’ve agreed to serve, because they care about your mission and the impact your organization is making. You owe it to them to make the job as easy as possible — starting with well-organized board meetings that are only as long as necessary.

hand holding a clock to represent not wasting time in not-for-profit board meetings

Continue Reading How to Use Time Efficiently in Not-for-Profit Board Meetings