615-320-5500
Crosslin Logo
  • About
    • Principals
    • Why Crosslin?
    • Dedication & Experience
    • Get to Know Our Principals
    • Customer Testimonials
    • Community
    • Strategic Alliances
  • Services
    • Audit & Assurance
    • Tax Services
    • IT & Security
    • Forensic Services
    • Valuation, Forensics and Litigation Support
    • Healthcare Consulting
    • Managed Accounting
  • Industries Served
    • Banking
    • Construction
    • Educational Institutions
    • Food Service
    • Healthcare
    • Manufacturing & Distribution
    • Not-for-Profit & Governmental Entities
    • Privately Owned Businesses
    • Public Companies
    • Religious Organizations
    • Retail
  • News
  • Careers
  • Contact
  • ONLINE PAYMENT
  • CUSTOMER PORTAL

VIDEOS

Home

About Us

  • Principals
  • Why Crosslin
  • Dedication & Experience
  • Customer Testimonials
  • Community
  • Strategic Alliances

Services

  • Audit & Assurance
  • Tax Services
  • IT & Security
  • Forensic Services
  • Valuation, Forensics and Litigation Support
  • Healthcare Consulting
  • Managed Accounting

Industries Served

  • Banking
  • Construction
  • Educational Institutions
  • Food Service
  • Healthcare
  • Manufacturing & Distribution
  • Not-for-Profit & Government
  • Privately Owned Businesses
  • Public Companies
  • Religious Organizations
  • Retail

News

  • 2016
  • Featured
  • 2015
  • Press

Careers

  • Submit Cover Letter and Resume

Contact Us

  • What Can The Crosslin Team Help You With?

Tag : cpa in Murfreesboro TN

Crosslin Hires Director of Accounting and Business Solutions

By Crosslin
May 16, 2017January 4, 2018 by nikki

Mark Myers has joined Crosslin as director of accounting and business solutions, bringing more than 36 years of accounting and financial experience to the position.  He will lead Crosslin’s rapidly growing line of services for entrepreneurial and emerging businesses.

Myers most recently served as a senior account manager for CFO Business Strategies and also has worked as the chief financial officer for Littlejohn Engineering Associates.  He is a certified career management coach, and frequently lectures at career transition groups throughout the state.

He received his master’s degree in business administration from Vanderbilt University and his bachelor’s degree in accounting and business administration from Trevecca Nazarene University.  He also is a certified public accountant and chartered global management accountant.

Myers is a member of the American Institute of Certified Public Accountants, Tennessee Society of Certified Public Accountants, and Institute of Management Accountants.  He currently serves on the local Board of Financial Executives International and has served several regional and national roles for that organization.  He also serves as the chair of the Nashville Chapter of the Financial Executives Networking Group and past state chapter treasurer of the International Coaches Federation.  He is a member of the finance committee for Renewal House and has held several committee positions on the Alcohol and Drug Council of Middle Tennessee.

What to Gather for Tax Return?

By Crosslin
January 26, 2017June 1, 2017 by nikki

Now that the new year has begun, what information should you be gathering to file your tax return? Tax Principal Kevin Hickman and Tax Senior David Middlebrook answer your pressing questions.  Check out Tax Tips here.

Crosslin Announces 30th Anniversary and Leadership Changes

By Crosslin
January 17, 2017January 4, 2018 by nikki

Regional accounting, technology, and consulting firm Crosslin is celebrating its 30th year of business this year and kicked off the anniversary with a companywide celebration with its team members.  Established in 1987, founder Dell Crosslin and his other principals created the accounting firm out of the desire to provide companies with an alternative to the large regional and national accounting firm options.

“Like many of our fellow business owners, Crosslin was founded on an entrepreneurial dream. We felt we had a great business model and we have worked tirelessly to serve our customers and grow the business,” said Crosslin.  “I continue to be amazed at what we have been able to accomplish over the last 30 years.”

Over the past three decades, Crosslin has grown from a firm of 4 team members to 76, and is currently one of the Top 10 accounting firms in Middle Tennessee.  Its service lines have grown tremendously as well, and Crosslin today offers audit and assurance, tax, state and local tax, accounting and IT forensics, accounting and business solutions, religious organization services, healthcare consulting, cybersecurity and consulting services, managed IT, managed security, valuation services, and litigation support.

In addition to its anniversary celebration, Crosslin announced changes in its leadership team.  Effective January 1, Managing Principal Dell Crosslin will move to chairman of the board for Crosslin.  In this role, he will continue to have an active role in the company, advising on strategic direction, serving certain customers, business development, and leadership growth.

John Crosslin and Justin Crosslin will serve as co-managing principals for Crosslin Certified Public Accountants, the accounting, consulting, and healthcare components of the company.   John Crosslin, Justin Crosslin, and Bryan White will serve as co-managing principals for Crosslin Technologies, the information technology and managed services arm of the company.

“We are looking forward to continuing Crosslin’s strong business presence in Tennessee and expanding upon the solid reputation we have built over the last 30 years,” said Justin Crosslin.  “Dell’s leadership and an amazing group of principals and team members have propelled Crosslin into a recognized leader in the accounting, healthcare, and information technology communities.  We are excited to continue this tradition.”

John Crosslin has been with the company more than 18 years, most recently serving as principal-in-charge of the audit department.  In that role since 2012, he led the audit department to unprecedented growth in both revenue and personnel.   He also overhauled the audit processes of the company, resulting in improved service for customers and more efficiency for team members.

Crosslin is a member of the Board of the United Way of Metropolitan Nashville and member of the United Way’s Tocqueville Society, where he served as co-chair of the 2015 Alpha Chapter Campaign Cabinet.  He is chairman and treasurer of the Board of Directors of the Music City Youth Orchestra and a past member of the Board of Directors for the Girl Scouts of Middle Tennessee, where he is still currently active on the Finance Committee.

He has been named to the CPA and NSA Practice Advisor’s 40 Under 40, a national honor that reflects contributions to the field of public accounting by individuals under the age of 40. He also received the Nashville Emerging Leader Award in the business services category and the Nashville Business Journal’s 40 under 40 honor, 2016 Power Leaders in Finance and 2015 Power Leaders in Accounting.

Justin Crosslin joined Crosslin nearly 10 years, most recently serving as principal of operations and overseeing Crosslin Technologies.  Responsible for the company’s strategic direction, operations initiatives, and administrative efforts, he also has been active in the management and development of other Crosslin expansion initiatives such as the firm’s Accounting and Business Solutions division.  He was the driving force behind the establishment and strategic growth of Crosslin Technologies.

Crosslin currently serves on the board of directors for the Middle Tennessee Council of The Boy Scouts of America on its finance and audit committees as well as chairman of the Advancement Committee.  Additionally, he is Cubmaster of Cub Pack 437 at St. Paul Christian Academy.  He is on the board and serves as Treasurer of Community Nashville.

He also is a founding board member of both Leadership Healthcare and Montgomery Bell Academy’s Young alumni board, and is actively involved in the Nashville chapter of the Entrepreneur’s Organization.  Justin also received the Nashville Emerging Leader Award in the business services category and the Nashville Business Journal’s 40 under 40 honor, 2016 Power Leaders in Finance and 2015 Power Leaders in Accounting.

Joining Crosslin Technologies nearly three years ago, Bryan White has led sales and operations for the company’s cybersecurity, managed services, and information technology offerings.  In that time, the company has achieved nearly 1,000 percent revenue growth, which has allowed the company to expand service lines and grow into new markets.  White has also brought together a strong team of cybersecurity and information technology professionals, growing by more than 500 percent over the last three years.

With more than 16 years of experience in managed services, White began his information technology career in the United States Navy.

Changes in Late IRA Distributions

By Crosslin
January 10, 2017January 10, 2017 by nikki

Unlike the baby boomer generation, most employees no longer stay with one employer for their entire career.  Also, less and less employers are offering pensions—instead preferring 401k plans and other employee-directed retirement savings plans.

After leaving one job, an employee often wants to take their retirement funds with them to their new job or move the funds into an IRA (Individual Retirement Account).  Many times, those distribution checks are issued to the employee in their name.  The employee then has 60 days to deposit the check into the new retirement account.  If the check is not deposited within 60 days, the employee would be subject to tax at their normal rate on the distribution plus a 10% early distribution penalty, if under 59 ½ years old.

Prior to August of this year, the only way to make a late rollover was via a PLR (Private Letter Ruling) which is quite expensive ($10,000 IRS fee) plus professional fees (upwards of another $10,000).  The employee would also have to wait approximately six to nine months to receive notice of the ruling.  If an employee did not seek out a PLR, the distribution was treated as a normal distribution subject to tax at the employee’s normal rate.

However, in August of 2016, the IRS relaxed rules related to late distributions.  The new process for late distributions will be free of charge if one of 11 IRS-approved “excuses” is to blame for not completing a timely rollover.  These 11 reasons are:

  1. Financial institution error
  2. Employee misplaced rollover check and it was never cashed
  3. Employee deposited distribution into an account thought to be a retirement account and it remained there until late rollover completed
  4. Employee’s principal residence was severely damaged
  5. There was a death in employee’s family
  6. Employee or one of employee’s family members was seriously ill
  7. Employee was incarcerated
  8. Restrictions were imposed upon employee by a foreign country
  9. A postal error occurred
  10. Employee’s distribution was made on account of an IRS levy and the proceeds of the levy have been returned
  11. Despite reasonable efforts to obtain information, the distributing company did not provide information required by the receiving company

If the employee meets one of these reasons for late distribution, the employee must still meet the following conditions for self-certification:

  1. There can be no prior denial by the IRS for a waiver
  2. The funds must be redeposited in an IRA account as soon as practicable “after the reason or reasons no longer prevent the taxpayer from making the contribution.” The “as soon as practicable” guideline has a 30 day safe-harbor window.

The best way to avoid a late distribution is to request that the distribution check be made out to the financial institution of the new plan or to have the distribution funds sent directly to the new plan without ever being in possession of the employee.

Please contact the tax team at Crosslin with any questions regarding the rollover of a retirement account or other tax matters.  We appreciate your business.

Posts navigation

Older posts

Come Visit

3803 Bedford Avenue,
Suite 103
Nashville, Tennessee 37215

Socialize

  • Facebook
  • Twitter
  • LinkedIn

Contact Us

  • Phone: 615.320.5500
  • Fax: 615.329.9465
  • Mail: info@crosslinpc.com

Copyright © 2017 Crosslin, PLLC