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Recent News

Abdo, Eick & Meyers Names Victoria Holthaus Partner

EDINA, MN | January 8, 2020 – Abdo, Eick and Meyers, a nationally recognized accounting firm, announces the promotion of Victoria (Vicki) Holthaus to the position of partner of AEM Financial Solutions, effective January 1, 2020. In her new role, Vicki will focus on helping local governments and nonprofit agencies overcome accounting and financial challenges….

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How to Prevent ‘Brain Drain’ When Key Employees Leave

By Leah Davis, CPA It’s no secret that the baby-boomer retirement wave is coming. In some organizations and local governments, it’s already washing ashore. What’s more, the increased mobility of today’s workforce means employees aren’t staying in one job for as long as they did 20 years ago. The impending mass exodus and ever-changing tide…

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What Your Organization Should Know About GASB 84

By Bonnie Schwieger, CPA, and Chad Hess, CPA As you may have noticed, the Government Accounting Standards Board (GASB) has been issuing new standards over the last few years in a bid to improve the financial reporting of U.S. and local governments. The GASB’s goal is to provide better information to financial statement users. In…

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UPDATE: New Form W4 Effective for 2020

The finalized 2020 Form W-4 was released on December 4, 2019. You can find the final form here: Due to the federal tax law changes that took place in 2018, the 2020 Form W-4, Employee’s Withholding Certificate, is very different from previous versions. The Internal Revenue Service (IRS) is not requiring all current employees to complete…

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Professional Service Providers: Review Your State and Local Tax Obligations ASAP

By Steve Isakson, CPA, CGMA If you’re a professional service provider with out-of-state clients, it’s important to know where you stand with state and local tax (SALT) obligations. That’s because the rules have changed, thanks in large part to the U.S. Supreme Court’s 2018 ruling in South Dakota v. Wayfair, Inc. Here’s what you should…

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Remembering Joe Abdo

FOR IMMEDIATE RELEASE ABDO, EICK & MEYERS, LLP ANNOUNCES THE PASSING OF FOUNDER JOE ABDO Mankato, MN – December 2, 2019 – It is with great sorrow that we announce the passing of our founder, Joseph Abdo.  Mr. Abdo established Abdo, Eick & Meyers, LLP in 1963 and believed in hard work, putting the clients…

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The Power of Data Analytics in Identifying Workplace Fraud

By Darin Styles, CPA, CFE Data monitoring is widely regarded as an effective tool for identifying trends and areas of improvement within a business. It also happens to be invaluable when it comes to detecting and preventing fraud. According the Association of Certified Fraud Examiners’ 2018 Report to the Nations, organizations that implement proactive data…

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4 Items Nonprofits Should Keep in Mind When Considering a Joint Venture

By Steven Anseth, CPA Joint ventures between Section 501(c)(3) organizations and businesses are becoming increasingly common. Such arrangements can also provide a nonprofit with access to capital and outside expertise while helping to further its mission. But like any business relationship, a joint venture between a tax-exempt nonprofit and a for-profit entity also carries the…

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How Automation Benefits Your Organization’s Full-Time Employees

By Jean McGann, CPA This is the first article in our three-part series on the benefits of automation for governments. The second article will describe a few ways automation can assist your fieldworkers, and the third will focus on your most important stakeholders—your residents. As you might recall from the introduction to this article series,…

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Does your Business Need to Worry About the ‘Parking Lot Tax’?

By John Juntunen The Tax Cuts and Jobs Act of 2017 (TCJA) has been lauded for reducing the U.S. corporate income tax rate from 35 percent to 21 percent. But the new tax law also included provisions that weren’t entirely business friendly. One such provision takes away a long-enjoyed deduction: employee parking costs. Now, all…

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