Being selected for a Department of Labor (DOL) audit is unwelcome news for nonprofit plan sponsors. Unfortunately, since benefit plans don’t directly impact programming and are extremely complex, nonprofits often rely too heavily on service ...
HM&M Accounting, Audit and Assurance*, & Tax Blog
Bankruptcies, which peaked in the natural resources industry in 2016, are seeing a resurgence. Faced with a lack of capital, external pressures like trade and tariff tensions and continued subdued oil prices, natural resources organizations ...
A Roadmap for Understanding Your Total Tariff Liability The ongoing trade war between the U.S. and China continues to rattle the retail industry. For more than a year, the two countries have been embroiled in ...
In early 2016, the FASB issued ASU 2016-02, Leases (ASC 842). The new leasing standard was effective January 1, 2019 for public companies. Although the FASB recently deferred the effective date of the new standard ...
Regularly, I am asked how long one should keep tax records. This is an important and straight-forward question. My usual answer is less direct: “it depends.” As you can see below, that’s a pretty good ...
As digital transformation becomes a core part of overall strategy, retail and consumer products companies should prioritize threat-based cybersecurity. Threat-based cybersecurity is a forward-looking, predictive approach. Instead of (or in addition to) focusing solely on ...
Abstract: The Tax Cuts and Jobs Act introduced a variety of tax benefits for businesses. At the same time, the act placed limits on several tax breaks, including the amount of interest expense a business ...
Abstract: When owners, managers and salespeople attend trade shows, call on customers or evaluate suppliers, they may incur meal, travel, and entertainment expenses. This article explains that many of these expenses may be deductible if ...
Abstract: Business owners may think that, if they repair a piece of tangible property, they’ll qualify for an immediate tax deduction. But the IRS may define that “repair” as an “improvement,” and require the costs ...
Abstract: Sole proprietorships and pass-through entity structures, which include partnerships, S corporations and certain limited liability companies (LLCs), provide owners with some valuable tax benefits, such as avoidance of double taxation and the potential ability to ...
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 ...