McClintock & Associates had a picnic and a kickball game at Scott Park on Thursday, September 7, 2017. 30 employees participated in a very entertaining afternoon filled with camaraderie and team building memories. The employees were divided into two teams, with scorekeepers, cheerleaders, umpires, and a photographer. The red team...
Plan sponsors (employers) typically adopt a “proto-type” plan that has been pre-approved under the Internal Revenue Code (IRC). The proto-type plan enables the sponsor to configure the plan based on the preferences of the organization. Some of the key features determined by plan sponsors are: (1) When are employees eligible to...
President Donald Trump and Republican leaders in Congress unveiled a framework for tax reform on September 27, 2017. This framework includes many significant changes for both individual and corporate income taxpayers. Here are some of the larger proposed changes that may impact you. Individuals: The proposed framework would reduce the number of...
By Marissa Cameron, CPA There have been many changes that have come with the update to the Guide for Audits of Proprietary Schools and for Compliance Attestation Engagements of Third-Party Servicers Administering Title IV Programs (Guide) that was released in September 2016. Many Institutions have become very familiar with these changes as they...
Congratulations to Bruce McClintock!! Bruce was presented with a Lifetime Achievement Award by Pennsylvania Association of Private School Administrators (PAPSA) at their Annual Conference on July 26, 2017 at the Radisson Hotel Valley Forge. Debbie Dunn, PAPSA Board Member representing Lancaster School of Cosmetology; Aaron Shenck, PAPSA Executive Director; and...
It’s been a very happy time here at McClintock with many new bundles of joy coming into the world. Everyone at McClintock & Associates would like to offer congratulations to our staff and their spouses on these joyous occasions. First up, chronologically, Staff Accountant Douglas Mawhinney and his wife Amanda welcomed...
by Kelly Brennan Does your institution offer scholarships or grants to students? How are they awarded? Are students awarded scholarships to your institution that are sponsored or paid for by third parties? You may be required to report the amounts awarded and paid to students in Box 5 of Form 1098-T. Do...
Revisions in the new Audit Guide for proprietary schools and Title IV third party services that was released on September 27, 2016 are officially in effect (effective for fiscal years beginning after June 30, 2016). One audit area that may potentially impact an institution is the audit requirements for Bonuses,...