Changes Make it Easier to Qualify as a High Technology Company in Washington, D.C.
With the passing of the Technology Sector Enhancement Act of 2012 (L. 2013, Act 19-513 (Law 19-211) D.C. Code 47-1817), which became effective March 5, 2013, the rules for Qualified High Technology Companies (QHTC) within the District of Columbia have changed. Along with the decision from a recent District of Columbia Court of Appeals ruling, Cherry Bekaert is encouraging all of its government contractor clients who work in the District to re-examine their QHTC qualification. In 2000, the District of Columbia passed the New E-Conomy Transformation Act of 2000 to encourage technology based businesses to locate to the District by. Read More.
Study Tracks Down Year for Endowments
The recent NACUBO-Commonfund Study of Endowments (NCSE) showed flat-to-negative growth for 2012 endowments. This decline is particularly painful in the face of 2011′s double-digit growth. In a recent post, NACUBO examines the impacts of this downtown, both in the short and longterm, and whether a change on longterm investment policy may be in order based on risk and volitility. Despite the recovery, many alternative asset classes still trail the overall market. Hedge funds, for instance, rose just 5.5 percent overall during calendar year 2012, according to CNN/Money, while the S&P 500 Index increased 13.4 percent. Kraus believes these results demonstrate that institutions still have time to shift some of their assets. Read More.
Identity Theft Prevention
Very often, the first realization of identity theft comes when you, or we, try to e-file your tax return, but the return is disallowed because someone has already filed one using a stolen Social Security number. We take identity theft very seriously and have a number of policies in place to ensure that your confidential, personal information does not end up in the wrong hands. There are also a number of policies you can implement in your daily life to help prevent your identity from being stolen. Steps we have taken, as well as precautions you can take, are summarized. Read More.
BP Oil Spill Funds Available
Millions of businesses and individuals were affected by the BP Gulf oil spill in 2010. To compensate those affected, a $7.8 billion settlement fund, called the Deepwater Horizon BP Oil Settlement Fund, has been established to pay claims. You and/or your business could be eligible for compensation and there is no cap on the amount of compensation BP must pay under this class-action settlement between BP and the Federal Government. Are You Eligible? The best news may be that under the settlement guidelines, your business does not have to be directly related to tourism or in a location close to. Read More.
How Does Your Local Government Stack Up?
The Internal Audit Function can provide many benefits to a government, including testing existence and effectiveness of internal controls; preventing and detecting fraud, waste and abuse; monitoring compliance with laws and regulations; and determining efficiency and effectiveness of the government’s programs. The Government Finance Officers Association (“GFOA”) issued a Best Practices memo , recommending that all State and Local Governments “consider the feasibility of establishing a formal internal audit function…” We conducted an analysis of the existence of Internal Audit in the Top 10 Cities in the U.S. and Top 100 Cities in the Southeast. Click here to download a pdf with our full findings.
New Joint Committee to Assist Small Business DoD Contractors
A new joint committee has recently been formed between the National Defense Industrial Association (NDIA) and the Small Business Technology Council (SBTC). The main focus of this sub-committee is to resolve various issues impacting small business Department of Defense (DoD) contractors. More specifically, the joint committee’s mission is as follows: Focus on Defense Contract Audit Agency (DCAA) issues of importance to NDIA and/or SBTC membership Establish a constructive dialogue with DCAA headquarters and with DCAA small business regulators Focus on practical and permanent solutions Establish extensive geographic committee membership Be a clearing house of DCAA related significant information to and. Read More.