Kristin Waits

Huntsville GovCon Growth Summit

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Joint hosts, Unanet and Anglin, invite you to a half-day 2019 Huntsville GovCon Growth Summit, on March 5th, from 8:00 am – 1:00 pm at the beautiful Jackson Center in Research Park.  The fee is $50 which includes breakfast and lunch.

The day will kick off with a keynote presentation by Col. Kelsey Smith. The U.S. Army garrison commander will review 2018 developments and discuss any expected growth for Redstone Arsenal in 2019.

Other presentations include:

Session 1:  What is your business worth:  How to grow value in your company.  Key factors than can increase the valuation of your company.

Session 2:  What growing Government Contractors should know about employment laws.

Session 3:  What is going on in the GovCon market?  Benchmarks and Trends for Government Contractors.

We will wrap up this informative half-day conference with lunch and networking. We hope that you will join us for this unique event that will help your team grow, collaborate, and learn!

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Kandy Gardner to Teach a Class at UAH

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Kandy Gardner, CPA, a Partner in our Solutions Services Group, will be teaching a class on February, 5, 2019 from 8:30 am – 4:30 pm on QuickBooks for Government Contractors at The University of Alabama in Huntsville.  The class will teach how to utilize QuickBooks to be in compliance with DCAA accounting requirements.  You will learn how to do the following:

  • Structure the chart of accounts in cost pool format to properly segregate direct costs from indirect costs, as well as exclude the unallowable costs outlined in FAR 31.
  • Set up payroll items, projects, and timecards to use in conjunction with the Customer module for job costing.
  • Accumulate the data you will need for rate computations.
  • Explore various DCAA audits such as the Incurred Cost Submission, Floor Check and Pre-Award Audit.
  • Complete DCAA’s pre-award audit from SF 1408 to show how the requirements can be met.

Prerequisite:  QuickBooks Foundation or basic knowledge of QuickBooks and Government Contracting.

Ways to Register, Class code C2119041:

Anglin Promotes Two to Partner

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We are pleased to announce the promotions of Luke C. Kinzer and Jason L. Miller to Partner, effective January 1, 2019.  Kinzer, CPA, CFE, CGMA, MBA, joined Anglin as a first-year Associate in 2006 and Miller, CPA, joined as a first-year Associate in 2007.  In 2018, Anglin was recognized by Accounting Today among the “Best Accounting Firms to Work For” in the U.S.

Kinzer received his MBA in 2015 and has expanded Anglin’s Business Advisory services through the Audit & Assurance practice. He is also a Certified Fraud Examiner and Chartered Global Management Accountant, playing a key role in certified fraud examinations as well as ESOP Planning & Advisory Services. His clients include builders and contractors, not-for-profit organizations and privately held companies that require employee benefit plan audits. Kinzer is involved in many professional organizations and serves on the Philanthropic Advisors Network for The Community Foundation of Huntsville/Madison County.

Miller provides leadership in the Audit & Assurance practice by serving as lead auditor on Single-Audit engagements and also overseeing Anglin’s Peer Review program. His areas of focus include audits of government agencies and not-for-profit organizations as well as CFO Services consulting and Merger & Acquisition Advisory Services. He has a particular focus on manufacturing consulting services. In his community, Miller is past president and a current board member for the University of Alabama in Huntsville Alumni Association.

“It is exciting to watch these two accomplished professionals develop their careers at Anglin,” said Gary Anglin, managing partner. “We have great opportunities here.”

Read full press release.

Year-End Tax Planning Letter

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As 2018 draws to a close, there is still time to reduce your 2018 tax bill and plan ahead for 2019. Year-end planning this year follows the new laws created by the Tax Cuts and Jobs Act that made major changes to the rules for individuals and businesses. This letter highlights several potential tax-saving opportunities for you to consider whether you are a business operator or an individual.

Read the full letter here, and contact us for your tax planning needs.

Anglin Welcomes New Audit Supervisor Meg Lawson

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We are pleased to announce the addition of Meg Lawson, CPA, MAcc, as a Supervisor in the firm’s Audit & Assurance group.  Meg has over 9 years experience in public accounting working with clients in industries including employee benefit plans, government contracting, and professional services.  She has a Bachelor’s in Accounting and a Master of Accountancy from the University of Alabama.  We are excited to have her join our team!

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Meg Lawson

Upcoming Important Dates

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Important Dates to Keep in Mind

6/30/18

  • Incurred Cost Submission Due Date

7/31/18

  • Form 5500 – Annual Return/Report of Employee Benefit Plan Due Date
  • Form 941 – Employer’s Quarterly Federal Tax Return Due Date

9/17/18

  • Form 1065 – Return of Partnership Income Extended Deadline
  • Form 1120S – S Corporation Tax Return Extended Deadline
  • 3rd Quarter Personal Estimated Payment Due Date
  • 3rd Quarter Corporation Estimated Payment Due Date

10/1/18

  • Form 1041 – U.S. Income Tax Return for Estates & Trusts Extended Deadline

10/15/18

  • Form 1040 – U.S. Individual Tax Return Extended Deadline
  • Form 1120 – U.S. Corporation Tax Return Extended Deadline
  • FBAR – Report of Foreign Bank & Financial Accounts Extended Deadline

10/31/18

  • Form 941 – Employer’s Quarterly Federal Tax Return Due Date

11/15/18

  • Form 990 – Return of Organization Exempt from Income Tax Extended Deadline

Incurred Cost Submissions Due

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Do you have the clause FAR 52.216-7 “Allowable Cost and Payment” in any of your contracts? If you do, you have a requirement to prepare an Incurred Cost Submission for your company and submit to your local DCAA office by June 30th, 2018. Typically, this FAR clause is incorporated in cost reimbursable contracts and Time-and-Materials (T&M) contracts that are direct to the government or a flow-through from a prime contractor. A fixed price contract may also have a cost reimbursable element(s) so be sure to check all your contracts for this clause that triggers the requirement for submission.  If you discover that you do have the requirement and would like help in the preparation or review of the submission, we’d be happy to help with that. Please contact Michelle Jenkins at mjenkins@anglincpa.com and we can get you on your way to compliance!