Tuesday, August 18th, 2015
Mauldin & Jenkins is proud to be recognized as a Top 100 Firm again this year by INSIDE Public Accounting. IPA 100 firms are ranked by U.S. revenues and are compiled by analyzing more than 500 responses to IPA’s Survey and Analysis of Firms. This is IPA’s 25th annual ranking of the largest accounting firms in the nation. Click on the icon below to see our listing.
Thursday, August 13th, 2015
Small business tax reform was the topic of two Congressional hearings in July. House and Senate lawmakers heard from small business owners and leaders in the tax and accounting area about concerns over tax complexity, compliance, and penalties. After the hearings, the chair of the Senate Small Business Committee said that he is moving forward with a small business tax compliance reform bill.
Complexity and compliance
The owner of a small manufacturing business told the Senate Small Business Committee that “small businesses operate from the intent to stay in compliance, but confusing regulations coupled with limited resources can lead to businesses inadvertently falling out of compliance.” A representative of a business association added that tax regulations cause the greatest difficulties for small employers. “The current tax code has become a confusing and unpredictable challenge for the vast majority of small business owners. Small business owners continue to be excessively burdened by direct, indirect, complicated and ever changing taxes related to operating their business,” the representative testified.
Monday, August 10th, 2015
The Southeast Farm Press has written a sincere article to remember one of Mauldin & Jenkins’ founders, Charlie Jenkins. The article portrays many great milestones throughout Charlie’s life and the great man we will always remember.
Thank you, Mr. Jenkins, and your generation
Written By: Brad Haire in Farm Press Blog
Mr. Jenkins and much of his generation showed us is you can face hardship directly, conquer it and mold the experience into something positive – a successful life.
A Nazi sniper’s bullet hit him in Salerno, Italy. He was part of the Normandy invasion, too, and fought at The Battle of the Bulge. Mr. Charlie Jenkins was one of those World War II veterans who came back home and showed us how to live a successful, good life.
I had the pleasure of getting to know Mr. Jenkins over the last decade. He died July 5 at the age of 92. His funeral a few days later, with full military honors at graveside, was inspiring.
He grew up in middle Georgia, attended Georgia Military College, of which his father was president. Then, Japan bombed Pearl Harbor and Mr. Jenkins and the rest of the nation had things to do. Like many at the time, Mr. Jenkins was a very young man forced to become a seasoned leader of others almost overnight. He rose to the occasion, like many.
A few times over the years, Mr. Jenkins and I sat down in his office with a recorder to digitally document his war years, and some of his life experiences. He did it to graciously appease my curiosity and for duty to the many WW II veterans who’ve passed. I treasure the recordings. His family has copies, and the recordings will be available to those interested in knowing the real-life experience of WW II vets.
Mr. Jenkins — wounded and recovering in Europe after the sniper bullet — proposed by letter to a young lady back in Georgia he’d fondly known since grade school. She accepted. As mentioned, Mr. Jenkins saw from start to finish the U.S.-led European invasion. And in fact, he had the record to show he was actually one of the last U.S. officers to leave the European Theater to come home after the war.
He came back home and started a family with the young lady he proposed to, and he stayed happily married to the young lady until her death a few years ago. He used the GI Bill to get his accounting degree. He helped start and lead one of the biggest accounting firms in the Southeast. After he retired from that accounting firm that still proudly bears his name, he started another financial group. It became successful, too. His son took it over. My wife works at that group.
He was one of the most respected men in his professional field and in his community. Mr. Jenkins is sorely missed right now by many.
But those are just the broad strokes of his life and don’t take into consideration the daily accomplishments a man can make toward family, work, community leadership and personal encouragement to others.
No life, unfortunately, goes without heartache or hardship. But what Mr. Jenkins and much of his generation showed us is you can face hardship directly, conquer it and mold the experience into something positive – a successful life.
I’m damned proud to have known Mr. Charlie Jenkins, and many others who saved the world so many decades ago and then tried to make the world better.
Mr. Jenkins, we owe you and your generation a lot. Rest well, sir. You more than earned it. We’ll do our best to earn it, too.
Wednesday, August 5th, 2015
The nominating committee of the Manatee Chamber of Commerce has named Bradenton’s Brian Carter a Director on the 2016 Board of Directors. Brian was selected to serve a one-year term.
Congratulations Brian, we know you will serve this role well.
Thursday, July 30th, 2015
Sweeping RC-R – Regulatory Capital schedule changes have become effective for all community banks.
The implementation of BASEL III capital rules is one of the most complex regulatory challenges for financial institutions in recent years. Learn how your institution is impacted with a step-by-step review of the new Call Report Schedule RC-R.
M&J has partnered with bankers’ associations throughout the Southeast to present one day Call Report seminars in different locations. Registration links for upcoming locations are below.
Operations officers, CEOs, CFOs, internal auditors and anyone who is responsible for the preparation, verification or certification of the call reports should attend.
These one-day seminars offer practical techniques to improve your bank’s overall reporting process. Participants receive a detailed line-by-line review in the completion of each schedule of most Call Report schedules. Relationships between schedules are reviewed and discussed.
- Proven organizational techniques to improve both the speed and accuracy of your bank’s call reporting processes;
- Hands-on experience in call report preparation; and
- Discussion of common mistakes and issues in the call report preparation process.
- FL Bankers Association – August 20, 2015 – Airport Marriott, Miami, FL
- FL Bankers Association – August 21, 2015 – Embassy Suites USF, Tampa, FL
- NC Bankers Association – August 25, 2015 – High Point Bank Insurance Center, High Point, NC
- SC Bankers Association – September 15, 2015 – Courtyard Columbia Downtown USC, Columbia, SC
Tuesday, July 28th, 2015
In Year-End Tax Planning for 2015, you’ll find numerous suggestions for lowering 2015 personal and business income taxes. By necessity, the strategies are general in nature. We recommend you secure professional tax advice relevant to your specific tax situation before implementing any of the ideas presented. Please contact one of our tax professionals today for more information.
A review of your tax picture before year-end can let you know where you stand with your 2015 taxes and suggest potential tax-saving opportunities you may have overlooked. Make sure you are doing all you can to minimize your taxes by taking action soon. Click on the guide below and start planning!
Friday, July 17th, 2015
On July 9, 2015, the Financial Accounting Standards Board (FASB) officially deferred implementation of the landmark global revenue recognition accounting standard by one year. The International Accounting Standards Board (IASB) is expected to follow suit, despite fewer complaints about the new guidance from companies that follow International Financial Reporting Standards (IFRS).
Many years in the making
Revenue is considered one of the most important measures of a company’s financial health, and proper implementation of the standards is high on the FASB’s list of priorities. In May 2014, the FASB published Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. The standard was largely converged with IFRS 15, Revenue from Contracts with Customers, and is considered one of the most important standards the FASB has released in recent years.
Thursday, July 16th, 2015
Bradenton’s Ron Marshall was accepted into the Leadership Manatee Class of 2015 – 2016. Leadership Manatee is a program designed to expose current and future leaders to different processes, programs, opportunities and challenges for individual involvement in Manatee County. Click here to view a list of this year’s participants.
Way to go Ron!
Monday, July 13th, 2015
The M&J LEAP Conference was held in Athens, GA at the Hilton Garden Inn.
The LEAP conference is designed to help staff Learn and receive further Education on the Firm, its niche practices, and the most commonly used software, as well as taking these resources and Applying them day-in and day-out to increase their Performance on the job. This year M&J used a little teamwork to compete in a Scavenger Hunt hosted all over Athens. Split into six teams, they were sent off to complete fun and silly tasks and challenges.
A few of the challenges included:
- “You Really Like Me” – they got 100 points for every like they got on their team photo that the company posted on their Facebook page
- “Team Bingo” – they could ask anyone (including each other, the committee, or strangers) to fill in the squares, but only one square per person
- Photo Shoot – they had a list of things they could take pictures of around town or of the entire team doing
- Crossword puzzle about Athens – complete it for so many points
- Landmarks -Teams receive a page full of pictures that are close-ups of various landmarks in the hunt zone. They receive points for those they find and correctly identify.
- Rendezvous Challenges: These team-against-team challenges take place at a scheduled time and a secret location.
- M&J trivia and many more!
Wednesday, July 8th, 2015
On June 26, the U.S. Supreme Court issued another landmark decision on same-sex marriage. In Obergefell v. Hodges, the Court ruled that same-sex couples have a constitutional right to marry, making same-sex marriage legal in all 50 states. This 5-4 decision will affect tax and estate planning for many same-sex married couples and also impact their employers.
The decision expands the rights recognized in the Supreme Court’s previous landmark same-sex marriage decision, United States v. Windsor. That 2013 ruling essentially required the federal government to recognize same-sex marriage in states where it’s legal.
The ruling was subsequently interpreted to also require the federal government to recognize same-sex marriage if couples got married in a jurisdiction recognizing same-sex marriage even if they resided in a state not recognizing it. As a result, generally same-sex married taxpayers have already been treated as married for federal tax purposes, thus being subject to both the pluses and minuses of such treatment.
But in Windsor, the Court didn’t go so far as to find that same-sex couples have a constitutional right to marry. At the time of the decision, this meant that the 30+ states that didn’t recognize same-sex marriage weren’t required to begin doing so.