News & Articles

Team Member Spotlight: Christine Cox, CPA

Posted on Mon, Jun 21, 2021

Christine E. Cox, CPA joined Echelbarger, Himebaugh, Tamm & Co., P.C. (EHTC) as a Staff Accountant in the Assurance Department in September 2016 and was promoted to Senior Accountant in 2019. Prior to EHTC, Christine completed a tax internship in Traverse City, MI, where she worked on the preparation of 1099 forms and individual income tax returns. She also has over ten years of experience in finance and accounting, having worked for community financial institutions as a personal banker, and a waste hauling/environmental services company, acting as an Accounting Clerk and Assistant to the Financial Administrator. Christine graduated from Ferris State University with a Bachelor's of Public Accountancy and is a member of the Michigan Association of Certified Public Accountants (MICPA). She obtained her Certified Public Accountant (CPA) license in 2020.

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Tags: Audit, Team Member, Financial Statements

Team Member Spotlight: Mark Langejans, CPA

Posted on Wed, Jun 09, 2021
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Tags: Audit, Team Member

Team Member Spotlight: Stephanie Kraus, CPA/CFE

Posted on Mon, Aug 17, 2020
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Tags: Audit, EHTC, Team Member, Financial Statements, Agreed Upon Procedures

Team Member Spotlight - Jake Wolffis, CPA

Posted on Mon, Jun 08, 2020

Jake Wolffis, CPA joined EHTC as a Partner in the Assurance Department in March 2017. He came to EHTC with ten years of public accounting experience at BDO USA, where he was an Audit Senior Manager at the Grand Rapids location. Since joining the EHTC team, Jake has made many positive contributions to both the firm and the Assurance Department and has helped the firm move forward as an EOS (Entrepreneurial Operating System) company. Jake is part of the Leadership Team and facilitates the meetings, leading important firm-wide issues that are identified, discussed, and solved in an efficient manner. He manages EHTC’s firm finances by serving as the firm’s Treasurer, ensuring the entire team at EHTC has transparency with necessary financial data throughout the year. In the fall, Jake coordinates the on-campus recruiting, securing quality internships for college students during EHTC’s busy season, with many of these interns joining EHTC on a full-time basis.

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Tags: Audit, Team Member

How to Plan for a PPP Audit

Posted on Mon, Jun 01, 2020

The Small Business Administrator Jovita Carranza and U.S. Treasury Secretary Steven Mnuchin recently announced that recipients of Paycheck Protection Program (PPP) loans of $2 million or more should expect an audit if they apply for loan forgiveness. Here are some tips to position your small business or not-for-profit organization to receive the maximum allowable forgiveness, as well as to prepare for the subsequent government audit.

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Tags: Audit, Paycheck Protection Program, cares act

Understanding IRS Audit Guidance

Posted on Wed, Apr 24, 2019

IRS examiners usually do their homework before meeting with taxpayers and their professional representatives. This includes reviewing any relevant Audit Techniques Guides (ATGs) that typically focus on a specific industry or audit-prone business transaction.

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Tags: Audit, IRS Audit, IRS

Relying on Audit Techniques Guides

Posted on Wed, Mar 22, 2017

IRS examiners usually do their homework before meeting with taxpayers and their professional representatives. This includes reviewing any relevant Audit Techniques Guides (ATGs) that typically focus on a specific industry or audit-prone business transaction.

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Tags: Audit, IRS

The Latest Tax Developments for Partnerships

Posted on Fri, Apr 15, 2016

In recent months, there have been several significant tax developments that affect partnerships. They also apply to multi-member limited liability companies (LLCs) that are treated as partnerships for federal tax purposes. (For simplicity, we'll use the terms "partnership" and "partner" to refer to all entities and owners that are affected by the developments.)

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Tags: Audit, Interest Rates, Partnership

Businesses: How to Help Prepare for Audit Season

Posted on Fri, Jan 30, 2015

The busiest time of year for external financial statement auditors generally runs from January to April each year. But CPAs usually start gearing up for audit season in November of the preceding year. Accountants meet with clients, assign staff and schedule fieldwork. Then, the team conducts preliminary financial analytics, observes physical inventory counts, assesses risk factors and customizes your audit plan.

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Tags: Audit, EHTC Article, Articles, Financial, fieldwork

Goodwill Amortization: A Taste of 'Little GAAP'

Posted on Mon, Feb 10, 2014

After years of listening to complaints from private firms and their auditors that certain accounting rules were too costly and complex, the Financial Accounting Standards Board (FASB) has finally taken action. On January 16, the FASB simplified one of the accounting rules private firms most loved to hate: FASB Accounting Standards Codification Topic 350, Intangibles - Goodwill and Other.

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Tags: Audit, EHTC Article, CPA Firm, Echelbarger, Financial Accounting Standards Board, Goodwill, New Rule