Mahoney - CPAs and Advisors

09/08/2026

Student-athletes in college can now earn substantial taxable income from the use of their "name, image, and likeness" (NIL). Such payments largely come from "boosters," individuals who make NIL contributions either directly or through third-party organizations commonly called "collectives". We explore key tax considerations for both parties.

Financially speaking, college athletics are a whole new ballgame these days. Student-athletes can now be paid for the use of their name, image and lik

09/03/2026

Lunch took a whole new meaning when Trent Senske and Tom Johnson stepped into the role of sushi chefs for an in-office wedding shower celebration.

From carefully rolling ingredients to serving up a variety of delicious sushi creations, Trent and Tom helped turn an ordinary lunch break into a fun and memorable event.

A big thank you to Trent and Tom, and many others that went above and beyond to create such an amazing event!

09/01/2026

Another year, another successful tournament in the books! ⛳

The MUCR Cup remains one of our favorite Mahoney traditions, bringing together team members from every stage of their careers, from current and incoming interns all the way to retired Partners. Now, in its 32nd year, the event once again delivered great competition, great company, and a beautiful day on the course. Somehow, the weather always seems to cooperate when it's time for the MUCR Cup!

After several years of Sam Broman and whichever team he was on claiming the title, a new group of champions has emerged. Congratulations to Nathan Plack, Will Leach, Jake Dalnes, and Sage Hoekstra on this year's victory!

A special thank you to Lost Spur Golf and Event Center for hosting another fantastic event, and to everyone who participated and volunteered. It was the perfect way to celebrate the end of summer and enjoy time as a team.

08/27/2026

We're proud to see our very own, Elizabeth Barchenger, CPA, featured in the August/September edition of Minnesota Society of CPAs Footnote magazine. In her article, "Trust but Verify: Using AI Responsibly in a CPA Firm," Elizabeth explores how accounting professionals can leverage AI while maintaining skepticism, judgement, and oversight that quality work demands.

As AI becomes increasingly integrated into audit and accounting processes, Elizabeth reminds us that technology is a powerful tool, but professional judgement remains irreplaceable.

Read the article here:

Discover best practices for ensuring effective and accurate AI use in audit.

08/25/2026

Are you using Bill.com with QuickBooks Advanced and struggling with how to properly void payments? Amy Siegel, RAP, breaks down the process and highlights key considerations to help keep your accounting records accurate and your workflow running smoothly.

Read the blog: https://mahoneycpa.com/voiding-payments-in-quickbooks-online-advanced-when-using-bill-com/

Learn how to handle voided Bill.com payments in QuickBooks Online Advanced and avoid bank reconciliation issues caused by payment synchronization.

08/24/2026

Attention all accounting students!

Join us on October 21 from 3:00-5:00pm for our annual Open House at the Mahoney office!

This is a great opportunity to:

• Connect with professionals in the accounting industry

• Learn about careers in public accounting

• Gain insight into the day-to-day work of accountants

• Experience a professional public accounting environment firsthand

• Enjoy free food and refreshments

We look forward to meeting you and answering your questions about the profession.

Register using the link below or contact Karl Jackson at [email protected] for more information.

https://forms.cloud.microsoft/r/We1kLwYyXy

08/20/2026

Nonprofits aren't immune to the thread of fraud from their own employees. In fact, a culture of trust and lax internal controls can make your nonprofit more vulnerable to fraud than many for-profit companies. Here's a list of right best practices to help you prevent and detect occupational fraud in your organization.

Every year, millions of dollars are donated to not-for-profit organizations. But in some cases, the money intended for an organization's charitable ca

08/18/2026

Serving on a nonprofit board can be personally rewarding, but it also introduces the risk of personal liability for lawsuits against the organization. Be sure your nonprofit's directors and top officers are protected from this threat. This article explains how directors and officers insurance can help in the event of litigation.

Even if your nonprofit's board members do everything in their power to make good governing decisions, legal liability can potentially lead to financia

08/13/2026

Conservation easements help protect natural areas and historic buildings while offering a tax break for the property owners involved. But the IRS views many of these arrangements as "abusive" from a tax perspective. This article discusses two recent updates to this long-standing issue: a revised IRS webpage and a new settlement initiative.

Under a conservation easement, a property owner voluntarily agrees to relinquish certain development and use rights to a parcel of land or building to

08/11/2026

Access to capital can be a challenge for businesses in underserved communities. The good news? The New Markets Tax Credit is now permanent.

Whether you're an investor seeking tax incentives or a business owner looking for financing opportunities, the NMTC program may offer significant benefits.

Read our latest blog to learn how it works.