Pivot CPAs’ Sheryl Tschimpke Featured on Legacy of Leaders
Assurance Partner discusses firm growth, client service, and the future of accounting through AI integration Pivot CPAs is proud to share that Sheryl Tschimpke, Assurance Partner and head of the firm’s Assurance Department, was recently featured on Legacy of Leaders, an inspiring business-focused Web TV series hosted by Whitney Mincey. The show spotlights high-performing leaders from around the world, offering insights into their careers, leadership philosophies, and industry trends. During the episode, Sheryl shared [Read More]
Financial Insights for the Construction Industry: What Contractors Should Know in 2025
From volatile materials costs to increased demand for infrastructure and housing, 2025 is shaping up to be another high-pressure year for construction firms. Yet amid the complexity, one truth holds steady: contractors who understand their numbers—and how to use them—are better equipped to weather uncertainty, seize opportunities, and grow confidently. At Pivot CPAs, we’ve worked alongside contractors, developers, and construction managers across Northeast Florida and beyond for decades. Our team understands that construction accounting isn’t [Read More]
FASB Clarifies the Accounting for Share-Based Consideration Payable to a Customer Summary
In response to stakeholder concerns about diversity in current accounting practice for share-based payment awards granted to customers, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2025-04, Clarifications to Share-Based Consideration Payable to a Customer. The ASU clarifies the following about share-based consideration payable to a customer: Vesting conditions based on purchases by customers or their customers are performance conditions. The guidance in Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation, [Read More]
ERISA 2025 Requirements Calendar
ERISA 2025 Requirements Calendar Sponsors of defined benefit and defined contribution retirement plans should keep the following deadlines and other important dates in mind as they work toward ensuring compliance for their plans in 2025. Dates assume a calendar year plan. Some deadlines may not apply, or dates may shift based on the plan sponsor’s fiscal year. For additional support, please contact your Pivot CPAs representative. FEBRUARY 28 Action: File IRS Form 1096, Annual [Read More]
Hidden Figures: Why It’s Important for Plan Sponsors to Identify Controlled Groups
ERISA – Controlled Groups The identification and treatment of controlled groups often proves to be an enormous challenge for owners of multiple business entities. The rules for determining whether a controlled group exists are complex, requiring employers and plan administrators to ask the right questions, carefully analyze the responses, and adapt employee benefit plans as needed when a controlled group exists. These rules apply regardless of the types of entity — C corporations, S corporations, [Read More]
Potential Tax Changes Under the New Presidential Administration
What Florida Businesses Should Know With a new presidential administration and a Republican-controlled Congress set to take office in January 2025, the U.S. may see sweeping changes to federal tax policy. For Florida businesses, staying ahead of these changes is vital to managing their financial planning and strategic growth. The anticipated tax revisions could include changes to corporate tax rates, expensing rules, green energy incentives, and estate taxes. This article will examine key areas of [Read More]
Mallory Salter Promoted to Assurance Partner
Pivot CPAs, Northeast Florida's largest locally-owned certified public accounting firm, is proud to announce the promotion of Mallory Salter to Assurance Partner. Mallory joined Pivot CPAs in 2010 and has been a vital asset to the firm, providing assurance services to both privately and publicly held companies. Her focus areas include residential and commercial construction, manufacturing and distribution, and employee benefit plan audits. A Jacksonville native, Mallory holds a Master's in Business Administration from [Read More]
People On The Move In Jacksonville
Pivot CPAs new Director of Family Office Services, Kathleen Devine, was featured recently in the Jacksonville Business Journal's 'People On The Move In Jacksonville' column. Read the feature here: https://www.bizjournals.com/jacksonville/potmsearch/detail/submission/6540422/Kathy_Devine
Clean Vehicle Shoppers Deserve to Look Up Credit Eligibility Online by VIN
Published on ThomasReuters.com by Tim Shaw - At a public rulemaking hearing, an IRS panel heard testimony on the searchability of eligible vehicles via an online tool from a variety of organizations regarding a suite of proposed regs implementing new and used clean energy vehicle credits enacted under the Inflation Reduction Act (PL 117-169). Background. The proposed rules clarify aspects of Code Sec. 30D, which, for vehicles placed in service after April 18, 2023, provides a [Read More]
BOI Reporting
Pivot CPAs Clients - As part of the effort of the United States to prevent concealment of assets through shell companies or other similar structures, the Corporate Transparency Act (31 U.S.C. 5336) and its accompanying regulations (collectively, the CTA), require beneficial ownership information (BOI) reporting by certain entities, characterized as reporting companies. Effective January 1, 2024, many companies, including many of our clients, will be required to report information electronically regarding their beneficial owners to [Read More]