Business Consulting

Answers to Your Billing Questions

For someone who has not used a CPA firm, billing may be a mystery, but it is not complex.  Like any other business, we must charge enough to cover our expenses.  What are these expenses? CPA firms have large overhead … Continue reading

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Use your 990 as a Marketing Tool, not an Afterthought

Many non-profits consider preparation of the Form 990, Return of an Organization Exempt from Income Tax, a chore on their list of necessary evils – often extending and filing at the very last moment. There is another way to look … Continue reading

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Self-Employment Taxes and Tax Issues for Artists Workshop

The City of Bangor’s Commission on Cultural Development invites you to attend a workshop on Self-Employment Taxes and Tax Issues. This free workshop will be held Wednesday, January 20, 2016 from 6-7:30 p.m. in the Story Room of the Bangor … Continue reading

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EFS Offers Strategic Tax Planning at Off Season Discount

To help our clients with their finances, EFS offers tax planning utilizing software designed specifically to assist with tax projections. During the fall, we are able to offer this at an off season discount for $275. The package includes two … Continue reading

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Affordable Health Care Act

There is a lot of information to absorb about the Affordable Health Care Act.  In each newsletter, we include a few pieces of information that you may find helpful. Fees for individuals who do not purchase “minimum essential coverage” health … Continue reading

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Self-Employment Taxes and Tax Issues Workshop for Artists – January 7, 2015

The City of Bangor’s Commission on Cultural Development will be hosting a workshop on self-employment taxes and tax issues, particularly those relevant to artists, both new and established. Lily Dalton, Hilary Clark, and Al Faust, from EFS, will be offering … Continue reading

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Scott Edwards Appointed to New England Peer Review Board

Scott Edwards, managing partner of Edwards, Faust & Smith has been appointed to the New England Peer Review Board (NEPR.) NEPR was founded in 1989 by Maine, New Hampshire, Vermont and Rhode Island to provide a professional and efficient method … Continue reading

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Revenue Recognition Changes

The Financial Accounting Standards Board (FASB) released a new accounting standard on May 28, 2014 (ASU) 2014-09, Revenue from Contracts with Customers.  FASB has been working jointly with the International Accounting Standards Board (ASB) since 2008 to develop a single … Continue reading

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Affordable Health Care Act

There is a lot of information to absorb about the Affordable Health Care Act.  Here are a few pieces of information that you may find helpful.  Taxpayers with incomes that fall between 100% & 400% of the federal poverty level, … Continue reading

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Hilary Clark Elected to IMA Board

Hilary Clark has been elected by the Board of the Bangor/Waterville Chapter of the IMA (Institute of Management Accountants) to serve as head of membership. The IMA was founded in 1919 and its’ purpose is to provide a forum for … Continue reading

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