The Thomas Howell Ferguson Blog

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THF Promotes Lorelle Chapman and Madeline Ruttenbur to Senior

THF congratulates Lorelle Chapman and Madeline Ruttenbur on their promotions to Senior in the Assurance Services Department. Lorelle began working at THF in January 2017.  She has been working in accounting for more than four years providing assurance services.  Lorelle received her bachelor’s degree in accounting from Florida State University. Madeline began working at THF […]

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THF Promotes Nick Gilpin and Jorge Rivera to Manager

THF congratulates Nick Gilpin and Jorge Rivera on their promotions to Manager in the Tax Services Department. Nick Gilpin joined THF in 2014 and has over five years of experience providing tax compliance and consulting services.  Having a broad foundation in various fields, Nick’s primary focus and professional development has been concentrated on THF’s large […]

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New Standards for Not-For-Profits Affect Several Major Areas

The Financial Accounting Standards Board (FASB) developed several new accounting standards in recent years. Regarding nonprofits, there are many areas that these new standards will affect moving forward. One new standard already being adopted by many nonprofit organizations is the new nonprofit financial statement format, ASU 2016-14. This standard affects many areas including liquidity disclosures, […]

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THF Promotes Dennis Gallant to Director and Bainbridge Market Leader and Matthew Walker to Senior Manager

THF congratulates Dennis Gallant on his promotion to Director and Bainbridge Market Leader in the Tax Services Department and Matthew Walker on his promotion to Senior Manager in the Assurance Services Department. Dennis joined THF in 2015.  He has been providing tax compliance and consulting services for more than 24 years.  He received his bachelor’s […]

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THF Welcomes Renn Vickers to the Assurance Services Department

THF welcomes Renn Vickers to the Assurance Services Department! Renn, a Tallahassee native, attended Florida State University and earned her bachelor’s degree and master’s degree in accounting.  Since 1988, Renn has been providing accounting and assurance services to a variety of industries including governmental, not-for-profit, and insurance.  Renn is a licensed Certified Public Accountant (CPA) […]

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Deductions Eliminated by the Tax Cuts and Jobs Act

Although the 2018 Tax Cuts and Jobs Act provided some new tax breaks, it also erased many deductions that you may have routinely claimed.  The following eliminated deductions are scheduled to remain through 2025, pending congressional action. Home Equity Loan Interest. According to the new tax law, the deduction for home equity interest from 2018 […]

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THF Congratulates Kayla Twogood on Joining the Lee’s Place Board of Directors

THF congratulates Kayla Twogood on joining the Lee’s Place Board of Directors. Lee’s Place was founded in 2000 after the president Brenda Rabalais lost her son, Lee, to cancer. This organization sets out to provide grief, loss, and trauma counseling to individuals and families that may not otherwise be able to afford it.  The Lee’s […]

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Deductions Eliminated by the Tax Cuts and Jobs Act

Although the 2018 Tax Cuts and Jobs Act provided some new tax breaks, it also erased many deductions that you may have routinely claimed.  The following eliminated deductions are scheduled to remain through 2025, pending congressional action. Home Equity Loan Interest. According to the new tax law, the deduction for home equity interest from 2018 […]

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THF Congratulates Allison Harrell and Andrea Medley on Joining Local Boards

THF congratulates Allison Harrell on joining the Governor’s Club Board of Governors and Andrea Medley on joining the American Red Cross North Florida Region Board. Allison is a Shareholder in the Assurance Services Department at THF.  She attended Florida State University and received her bachelor’s degree in accounting and her master’s degree in accountancy with […]

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What is a Tax Checkup and Why Does Your Organization Need One?

Over time an organization, as well as related tax and case laws, can change significantly.  These changes, although subtle on a year-by-year basis, can considerably alter the tax exposure of your exempt entity. A comprehensive tax “checkup” serves as a diagnostic tool to help identify tax exposure areas and planning strategies. A tax checkup provides […]

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3 Tips on Using Cryptocurrency in Business

In today’s day and age, it is important to understand what cryptocurrency is.  Cryptocurrency or virtual currency, is a digital medium of exchange that can be used for purchasing, selling, and storing value, but it is not backed by a sovereign government.  The U.S. Treasury currently classifies cryptocurrency as intangible property.  Despite the name, it […]

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THF Congratulates Taylor Harmon on being recognized as a Tallahassee Network of Young Professionals’ Golden A.C.E. Award Winner!

THF congratulates Taylor Harmon on being recognized as a the Tallahassee Network of Young Professionals’ Golden A.C.E award winner. The Golden A.C.E. Awards recognizes the Capital City’s top “20 Under 40” young professionals. A Golden A.C.E. recipient is an emerging young leader in their respective industry and represents the award’s namesake – to highlight those in […]

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THF’s Tampa Team Named Winner of United Way Suncoast Award

   THF’s Tampa Team has been named the winner of the United Way Spirit of Suncoast Award in the category of “less than 100 employees” for the 2018 campaign year. United Way’s Spirit of Suncoast Award honors local companies for their exceptional commitment and investment by their organization and their employees. The award is presented […]

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Tips on How to Choose a Tax Preparer

It’s that time of year again! Many of you are currently choosing a tax preparer to help file your tax return. If you are filing through a tax preparer, it is very important that you choose your preparer wisely. Ultimately, you are responsible for all of the information on your income tax return, no matter […]

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Why Should You Have a Succession Plan?

An often overlooked process for companies is the development of a succession plan.  Succession plans are used to address the inevitable changes that occur when business owners, partners or key employees resign, retire, are fired, get sick, or pass away.  This strategy for the identification and development of future leaders is necessary to ensure a […]

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THF Congratulates Brandon Mott on Being Selected as an FICPA Horizon Award Recipient

THF congratulates Brandon Mott on being selected as a Florida Institute of Certified Professional Accountants (FICPA) Horizon Award recipient. The FICPA’s Horizon Awards recognize the brightest young CPAs who are advancing the CPA profession and working to better their communities through service. Honorees are considered to be accelerating the accounting field through professional experience, leadership, […]

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The Wayfair Decision: What Does it Mean?

In 1967 and 1992, the United States Supreme Court decided cases that formed the operating framework of how states could impose the requirement that a business collect/remit sales tax on behalf of a state.  The central theme around this framework was that states could not impose on out-of-state sellers the obligation to collect and remit […]

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