The new lease standard, Financial Accounting Standards Board (FASB) ASC 842, is effective for private companies that present their financials under US GAAP with fiscal years beginning after December 15, 2021. What is Lease Accounting ...
Category Archive: Accounting
Are you prepared to meet the new lease standard requirements? The new lease standard, Financial Accounting Standards Board (FASB) ASC 842, is effective for private companies with fiscal years beginning after December 15, 2021. What ...
2021 has flown by and before you know it 2022 will be here! Before the year comes to a close, there are a few simple tax planning items to consider to potentially help reduce your ...
Abstract: Gig workers represent a growing segment of the economy. And no matter what the job or app, they all have one thing in common: income tax obligations. This article explores the distinctive income tax ...
The $349 billion Paycheck Protection Program (the “PPP”) is one of the largest provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”, or the “Act”) enacted on March 27, 2020. The ...
The COVID-19 outbreak will have a direct and lasting impact on organizations of all sizes. While the full effect of the pandemic is yet to be seen, companies of all sizes are contending with an ...
According to a recent Forbes’ article “IRS Faces Huge Backlog of Unopened Mail As Workforce Returns,” the estimated backlog of unopened IRS mail was at 11 million pieces as of June 2020. Perhaps the largest ...
The rapidly-changing regulatory environment and what this means for physician practices COVID-19 has changed the way physicians practice medicine. The CARES Act has put forth many provisions for healthcare practitioners to survive. The Trump ...
Learn the 7 reasons why an external accounting service department could be the smartest business move you make for your company this year to calm down a bit of the chaos. Accounting functions are an ...
Current Cybersecurity Trends “It is estimated that by 2027, global spending on cybersecurity will reach $10 billion. In this age of IoT, where there is no escaping the internet, it is very important to understand ...
Given the historically low interest rate environment in which we find ourselves, most business owners in capital intensive industries will be impelled to explore their options when it comes to obtaining new equipment. Whether it’s ...
Recent court rulings and tax reform legislation has an impact on family office expense deduction. The lack of definition and bright-line test determining “trade or business activities” means that we must carefully consider the distinct ...