Monthly Archives: February 2017

Aronson LLC Announces DoD Cybersecurity Compliance Service Offering

Rockville, Maryland, February 28, 2017 — Aronson LLC, a leading provider of assurance, tax and consulting services to government contractors in the mid-Atlantic region, today announced a highly customizable service offering that helps defense contractors comply with the Defense Federal Acquisition Regulations Supplement (DFARS) 252.204-7008, “Compliance with Safeguarding Covered Defense Information Controls,” and 252.204-7012, “Safeguarding Covered Defense Information and Cyber Incident Reporting.” Compliance with these new regulations will be necessary to receive new contract awards in the future.

On December 30, 2015, the U.S. Department of Defense (DoD) published the interim rule which gave contractors until December 2017 …read more

Read more here:: Government Contracting

President Trump’s Budget Priorities Become Clearer

The White House announced Monday morning that President Trump will propose increasing the defense budget by 10% or $54 billion. This increase in spending will be offset by corresponding reductions to discretionary non-defense spending. Details regarding what the increase in defense spending will be used for or what other programs will be cut were not shared. An official from the Office of Management and Budget (OMB) stated the current thinking is to allow the Pentagon to spend the additional $54 billion as they see fit. The statement issued by the White House quoted President Trump as saying the budget would …read more

Read more here:: Government Contracting

Charitable Giving: Potential Changes Ahead

On February 16, Aronson’s Craig Stevens participated with the Charitable Giving Coalition (CGC) at the 100 years of Giving Fly-In Day to mark 2017 as the 100th anniversary of the charitable tax deduction. The group met with Senate and House representatives from Virginia and West Virginia to discuss tax reform and how the charitable contribution deduction might be affected.

The CGC was formed in 2009 in response to proposals at the time from the Obama Administration and Members of Congress, which would have limited the tax deduction for charitable contributions. Currently, Jason Lee the interim President of the Association of …read more

Read more here:: Nonprofit

It’s Still Here for Now — the Affordable Care Act!

As President Donald Trump’s administration begins its work, rumors that most or all of the Affordable Care Act (ACA) could be repealed are plentiful. Over the next few months, the future of the law should be known. However, the ACA remains in place for 2017 and employers should move forward accordingly.

Currently in effect under the ACA, business owners with 50 or more employees who are either full-time (FT) or full-time equivalent (FTE) are required to offer health insurance coverage to their FT employees. FTEs are determined by dividing the total hours of all part-time employees worked in one month by …read more

Read more here:: Tax

How to Prepare for an Annual Financial Statement Audit?

With 2017 under way, many companies are preparing for annual financial statement audits. While the audit process can be cumbersome, here are some steps to make the process as painless as possible.

Remember financial statement auditors work to assist management in identifying opportunities for further improvement and to increase overall confidence in company financial data. They provide reasonable assurance on the accuracy of a company’s financial numbers and the operating effectiveness of internal control design. Annual financial statement audits provide a second look into financial performance, and insight into a company’s strengths and weaknesses.

What happens before the annual financial statement audit …read more

Read more here:: Government Contracting