The New Federal Scholarship Tax Credit: What Taxpayers Need to Know for 2027

Beginning in 2027, individuals may be eligible for a new Federal Scholarship Tax Credit (FSTC). For eligible taxpayers, this nonrefundable federal tax credit can provide a significant tax benefit while supporting educational opportunities for students.

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How to Build a Balance Sheet Your Banker and Bonding Agent Will Love

Financial statements play a significant role in evaluating capital and capacity, including the contractor’s working capital, net worth, leverage, work in progress, cash flow, and historical project performance. Understanding what financial statement users are looking for can help contractors proactively strengthen their financial position.

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WEBINAR: Reading Between the Lines: Questions Every Nonprofit Leader Should Ask About Financial Reporting and Form 990

Join our Nonprofit team for an engaging discussion on what nonprofit leaders, board members, finance professionals, and other stakeholders should be looking for when reviewing auditor and accountant reports, financial statements, and tax filings.

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SEMINAR: Fall Affordable Housing Seminar

A. J. Johnson will be returning on November 5, 2026, to host another Fall Affordable Housing Seminar. This year’s training will include a discussion of what LIHTC property owners should know about the IRS Form 8609, as well as cover issues that are critical to the success of any LIHTC acquisition/rehab project.

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How can we help you thrive?

When was the last time anyone asked you this question? We ask it every day, understanding only one definition of thriving matters: yours.

Whether you’re an organizational leader seeking a deeper connection with your business and accounting advisor, a candidate searching for a vibrant and adaptable career path, or a community leader forging networks for positive transformation, change begins with connection.

At McKonly & Asbury, the heart of each of our relationships is collaboration, centered on Helping Others Thrive. We serve a wide range of industries—including Architecture, Engineering and Construction; Nonprofit; Manufacturing & Distribution; Healthcare; Affordable Housing; and Family-owned Businesses—delivering services that align with each client’s distinct goals and needs.

Our services include tax, audits, reviews and compilations, employee benefit plan audits, SOC audits, CMMC compliance, Sarbanes-Oxley assistance, business valuations, and state and local tax. Whether supporting organizations through compliance or helping drive strategic growth, we are committed to being a dependable and engaged advisor every step of the way.

Would you like to explore a relationship where the focus is on you? Let’s start a conversation today.

Services

Tax

Tax

Cybersecurity Maturity Model Certification

Cybersecurity Maturity Model Certification

Business Valuation Services

Business Valuation Services

HITRUST

HITRUST

SOC Audits

SOC Audits

Audit & Assurance

Audit & Assurance

Industries

Architecture, Engineering, and Construction (AEC)

Architecture, Engineering, and Construction (AEC)

Manufacturing & Distribution

Manufacturing & Distribution

Entrepreneurial

Entrepreneurial

Franchises

Franchises

Affordable Housing

Affordable Housing

Healthcare

Healthcare

Featured Articles

How to Build a Balance Sheet Your Banker and Bonding Agent Will Love

How to Build a Balance Sheet Your Banker and Bonding Agent Will Love

Key Takeaways: Manage Working Capital: Strong liquidity and collectible current assets help contractors fund projects and support bonding capacity. Build and Retain Equity: Balancing owner distributions, debt, and retained earnings can help maintain the capital needed for growth. Monitor Backlog and WIP: Evaluate project margins, timing, cash needs, underbillings, and job fade – n… Read more

Determining What Trust Services Criteria Is Applicable to an Organization

Determining What Trust Services Criteria Is Applicable to an Organization

Key Takeaways Security Is Required: Every SOC 2 report must include the Security Trust Services Criteria (TSC), while the other four are optional. Match TSC to Services: Determine which criteria apply based on the organization’s systems, services, customers, and regulatory requirements. Consider Business Impact: Availability may be relevant when uptime is critical, while Processin… Read more

Reasonably Expected Basis and Carryover Allocation Basis Under Internal Revenue Code Section 42

Under Internal Revenue Code Section 42, a development which is allocated low-income housing tax credi… Read more

HITRUST CSF – The Adaptive Framework That Is 99.64% Breach-Free

Key Takeaways Adopt an Adaptive Framework: HITRUST CSF helps organizations continuously respond to e… Read more

Helping Others Thrive Starts Here: Firm Named a 2026 Best Accounting Firm to Work For

We believe that exceptional client service starts with exceptional people. That’s why we̵… Read more

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McKonly & Asbury Culture

Core Values provide the foundation for our culture and uniquely represent who we are, define how we conduct ourselves and portray how we interact with our colleagues and clients. These Core Values personify the type of employees that we look for when we recruit, as well as what we should strive for as we advance in our careers.

Careers at McKonly & Asbury

Our uniquely collaborative and casual yet professional work environment empowers our team members to elevate their skills and advance in their careers. Our mission, Helping Others Thrive, is at the center of all we do, who we are, and who we serve.

McKonly & Asbury Culture

Core Values provide the foundation for our culture and uniquely represent who we are, define how we conduct ourselves and portray how we interact with our colleagues and clients. These Core Values personify the type of employees that we look for when we recruit, as well as what we should strive for as we advance in our careers.

Careers at McKonly & Asbury

Our uniquely collaborative and casual yet professional work environment empowers our team members to elevate their skills and advance in their careers. Our mission, Helping Others Thrive, is at the center of all we do, who we are, and who we serve.