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By Collin Temple, CPA, CCIFP In the world of construction accounting, the allocation of indirect costs, or overhead, continues to be one of the most consequential and misunderstood areas in both financial reporting and job costing. For CPAs working with contractors, a clear grasp of indirect cost allocation is not just a technical exercise but a strategic opportunity to enhance financial accuracy, improve competitiveness, and support better business decisions.
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By Mark A. Loyd, JD, CPA Equal protection in real property tax matters – a lot to all Kentucky taxpayers. Imagine that property you lease and on which you are required to pay the property taxes is assessed at double or triple the assessment value of nearby similar properties. Imagine that in assessing the value of your property, the Property Valuation Administrator used an assessment methodology that is different from the methodology used to assess other properties in the county. What if the PVA purposefully singled you out for increased assessments? What if the PVA identified no rational basis for computing your assessment value differently from other real property taxpayers? Should that violate equal protection? Is this issue of statewide importance?
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By Greta Gudmundsson, CPA On July 3, Congress passed the “One Big Beautiful Bill Act” (OBBBA), marking a significant overhaul to federal tax policy and the President signed it into law on July 4.
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On Friday, March 28, the Kentucky General Assembly adjourned sine die from the 2025 legislative session. With the final stroke of the gavel, we marked not only the end of the legislative session, but also the last time the Kentucky General Assembly will meet in those chambers, at least for the next few years. While the massive marble and granite structure has dominated the landscape of Frankfort for more than a century, the Capitol closed this summer for extensive renovations, with lawmakers meeting in a temporary structure next door until the work is completed.
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“I have learned so much about leadership, presentation skills, and professionalism during my volunteer time; it has served me well and will continue to serve me in the future.”
—Elizabeth Rankin, CPA, owner of ANEW 401K TPA, LLC | Member since 1998
