May 1, 2018
WILMINGTON, NC., May 1, 2018, Earney & Company, L.L.P. is pleased to announce the admission to the partnership of Camron T. Faulkner, CPA.
Camron began his career at Earney & Company in May 2007 while completing his undergraduate degree at UNCW. After completing his undergraduate internship with Earney & Company he took a position as a graduate assistant while completing UNCW’s M.S.A program. Camron joined Earney & Company as a full-time employee in December 2012. He focuses on providing tax and accounting services for closely held businesses and high net worth individuals. He has experience with complex partnership taxation, family business tax planning, corporate and individual income tax.
When he’s not in the office he enjoys spending time with his wife Taylor and daughters Evelyn and Penelope. He has taught undergraduate accounting at UNCW. He also volunteers with his congregation, enjoys hiking, camping, and surfing.
Earney & Company was founded in Wilmington, NC in 1982 by Chuck Earney, CPA. Located near Wrightsville Beach on Military Cutoff Rd, the firm currently has 6 partners, 28 employees, and provides tax and assurance services to clients throughout Southeastern North Carolina.
As 2019 came to an end, Congress passed two bills, which were then signed into law by the President. The “Consolidated Appropriations Act, 2020” and H.R. 1865, the “Further Consolidated Appropriations Act, 2020” are government funding bills that include numerous tax changes that directly affect taxpayers in past, current, and future tax years. The changes that are most likely to impact our clients are highlighted below.
The IRS and the FASB (Financial Accounting Standards Board) require non-profit corporations to present an analysis of their expenses – by function. That is, how is your organization using its resources? How much of your expenses are spent on “Management” versus “Program?” How much of your resources are used for “Fundraising” rather than “Program?” This type of analysis is required and useful for donors and lenders, but it is also a valuable tool for management.
Financial statements provide a picture, a snapshot, of the state of your organization at one point in time – generally your fiscal year end – and how well you managed your funds over that fiscal year.