Darnall, Sikes & Frederick CPAs

Darnall, Sikes & Frederick CPAs In the world of business, problems arise every day. Keep your business moving forward with Darnall, Sikes & Frederick.

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐™๐จ๐ง๐ž ๐ˆ๐ง๐ฏ๐ž๐ฌ๐ญ๐ฆ๐ž๐ง๐ญ๐ฌ: ๐–๐ก๐š๐ญโ€™๐ฌ ๐‚๐ก๐š๐ง๐ ๐ข๐ง๐ ?The One Big Beautiful Bill Act (OBBBA) introduces key updates to Qualified...
06/02/2026

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐™๐จ๐ง๐ž ๐ˆ๐ง๐ฏ๐ž๐ฌ๐ญ๐ฆ๐ž๐ง๐ญ๐ฌ: ๐–๐ก๐š๐ญโ€™๐ฌ ๐‚๐ก๐š๐ง๐ ๐ข๐ง๐ ?

The One Big Beautiful Bill Act (OBBBA) introduces key updates to Qualified Opportunity Zone (QOZ) investments, creating new tax planning opportunities for investors.

๐Ÿ” Highlights include:
โ€ข Continued capital gains tax deferral and reduction opportunities
โ€ข Reduced "substantial improvement" threshold (100% โ†’ 50%)
โ€ข Updated reporting requirements for Qualified Opportunity Funds
โ€ข Tax benefits tied to 5-, 7- and 10-year holding periods
โ€ข Potential basis step-ups for long-term investments

In our latest blog, ๐๐ž๐ญ๐ก๐š๐ง๐ฒ ๐–๐ž๐›๐ซ๐ž explains what these changes could mean for investors and their advisors.

๐Ÿ‘‰ Read more: https://loom.ly/1sRzNWk

๐น๐‘Ÿ๐‘Ž๐‘ข๐‘‘ ๐น๐‘Ÿ๐‘–๐‘‘๐‘Ž๐‘ฆ, written by shareholder Kyle P. Saltzman, CPA, CFE, shares real-world cases every other Friday to help orga...
05/29/2026

๐น๐‘Ÿ๐‘Ž๐‘ข๐‘‘ ๐น๐‘Ÿ๐‘–๐‘‘๐‘Ž๐‘ฆ, written by shareholder Kyle P. Saltzman, CPA, CFE, shares real-world cases every other Friday to help organizations recognize risks and strengthen controls.

This week, a South Florida spine surgeon alleges a former payroll manager stole more than $2.4 million from his practice over a seven-year period.

According to reports, the employee manipulated payroll records and issued herself unauthorized raises and bonuses, averaging approximately $340,000 per year in extra compensation.

Cases like this serve as a reminder that fraud often thrives when one person has too much control and too little oversight. Strong internal controls and independent review remain essential safeguards for every business.

See you again in two weeks for another Fraud Friday!

https://loom.ly/2bwW-8U

Small business owners: keeping clean, organized financial records throughout the year can save valuable time and money d...
05/27/2026

Small business owners: keeping clean, organized financial records throughout the year can save valuable time and money during tax season.

A few best practices:
โ€ข Separate business and personal expenses
โ€ข Track receipts digitally
โ€ข Reconcile accounts monthly
โ€ข Monitor deductible expenses regularly
โ€ข Meet with your CPA before year-end

Good bookkeeping isnโ€™t just about compliance. It helps business owners make more informed decisions year-round.

Land of the free because of the brave. This Memorial Day, we pause to remember those who served and sacrificed for our n...
05/25/2026

Land of the free because of the brave. This Memorial Day, we pause to remember those who served and sacrificed for our nation.

๐น๐‘Ÿ๐‘Ž๐‘ข๐‘‘ ๐น๐‘Ÿ๐‘–๐‘‘๐‘Ž๐‘ฆ, written by shareholder ๐Š๐ฒ๐ฅ๐ž ๐’๐š๐ฅ๐ญ๐ณ๐ฆ๐š๐ง, ๐‚๐๐€, ๐‚๐…๐„, shares real-world cases every other Friday to help organiz...
05/22/2026

๐น๐‘Ÿ๐‘Ž๐‘ข๐‘‘ ๐น๐‘Ÿ๐‘–๐‘‘๐‘Ž๐‘ฆ, written by shareholder ๐Š๐ฒ๐ฅ๐ž ๐’๐š๐ฅ๐ญ๐ณ๐ฆ๐š๐ง, ๐‚๐๐€, ๐‚๐…๐„, shares real-world cases every other Friday to help organizations recognize risks and strengthen controls.

This week's story focuses on the theft of more than $3.7 million from the Atlanta Hawks organization โ€” a scheme that ultimately earned the former employee a three-year federal prison sentence and an order to repay nearly $3.9 million in restitution.

Prosecutors say the employee exploited his authority and control over the teamโ€™s credit card system to carry out the fraud over an extended period of time.

Rather than using the funds for legitimate business expenses, investigators found the stolen money fueled a luxury lifestyle that included jewelry purchases, vacations, event tickets and other high-end personal spending.

https://loom.ly/L2Z8Tu8

Tax season may be over, but smart tax planning happens year-round.Mid-year is the perfect time for businesses and indivi...
05/21/2026

Tax season may be over, but smart tax planning happens year-round.

Mid-year is the perfect time for businesses and individuals to review:
โ€ข Estimated tax payments
โ€ข Business deductions
โ€ข Retirement contributions
โ€ข Cash flow and major purchases
โ€ข Potential tax law changes

Proactive planning now can help reduce surprises later and create opportunities before year-end deadlines arrive.

The team at Darnall, Sikes & Frederick helps clients stay prepared with strategic tax guidance tailored to their goals.

๐ŸŽ“ Celebrating our new graduate! ๐ŸŽ“Congratulations to ๐๐ซ๐š๐ง๐๐ข๐ž ๐‚๐จ๐ฎ๐ซ๐ฏ๐ข๐ฅ๐ฅ๐ž on earning a Bachelorโ€™s degree in Accounting from ...
05/20/2026

๐ŸŽ“ Celebrating our new graduate! ๐ŸŽ“

Congratulations to ๐๐ซ๐š๐ง๐๐ข๐ž ๐‚๐จ๐ฎ๐ซ๐ฏ๐ข๐ฅ๐ฅ๐ž on earning a Bachelorโ€™s degree in Accounting from LSU Alexandria!

Brandie serves in our Ville Platte office and supports our Eunice office. With this achievement, Brandie is transitioning from an administrative role into an accounting position.

Congratulations, Brandie! ๐Ÿฅ‚

๐ŸŽ“ Celebrating our new graduates! ๐ŸŽ“Congratulations to Chance Kraemer, Caley Delatte, Kaylee Breaux and Ainsley Fontenot o...
05/19/2026

๐ŸŽ“ Celebrating our new graduates! ๐ŸŽ“

Congratulations to Chance Kraemer, Caley Delatte, Kaylee Breaux and Ainsley Fontenot on graduating from Nicholls State University!

Chance, Caley and Ainsley will be transitioning from interns to full-time Junior Accountants, and Kaylee will be moving from part-time to a full-time administrative role later this summer.

All four are part of our Morgan City office, and weโ€™re excited to see whatโ€™s ahead. Congratulations, team! ๐Ÿฅ‚

๐ŸŽ“ Celebrating our new graduates! ๐ŸŽ“Join us in congratulating our Lafayette office interns (from left to right) Kathryn Ca...
05/18/2026

๐ŸŽ“ Celebrating our new graduates! ๐ŸŽ“

Join us in congratulating our Lafayette office interns (from left to right) Kathryn Carrere, Hayley Romero, Emma Caswell and Alyssa Ray on graduating from the University of Louisiana at Lafayette this past weekend!

Weโ€™re excited to welcome each of them as full-time Junior Accountants with the Firm later this summer.

Well done, team! ๐Ÿฅ‚๐Ÿฅณ

๐น๐‘Ÿ๐‘Ž๐‘ข๐‘‘ ๐น๐‘Ÿ๐‘–๐‘‘๐‘Ž๐‘ฆ, written by shareholder ๐Š๐ฒ๐ฅ๐ž ๐’๐š๐ฅ๐ญ๐ณ๐ฆ๐š๐ง, ๐‚๐๐€, ๐‚๐…๐„, shares real-world cases every other Friday to help organiz...
05/15/2026

๐น๐‘Ÿ๐‘Ž๐‘ข๐‘‘ ๐น๐‘Ÿ๐‘–๐‘‘๐‘Ž๐‘ฆ, written by shareholder ๐Š๐ฒ๐ฅ๐ž ๐’๐š๐ฅ๐ญ๐ณ๐ฆ๐š๐ง, ๐‚๐๐€, ๐‚๐…๐„, shares real-world cases every other Friday to help organizations recognize risks and strengthen controls.

This week's story centers on a former staffer sentenced to four years in prison after stealing more than $1.5 million from a charitable fund created to help state employees donate to causes they care about.

Using her position and unrestricted access, she siphoned off nearly 30% of all donated funds โ€” money intended for charities and nonprofits.

And where did the money go? Not exactly toward noble causes. Prosecutors say the stolen funds financed a lavish lifestyle that included beauty treatments, airfare, a luxury apartment and other personal indulgences.

https://loom.ly/8vPOOyM

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