Password Recommendations for Internal Auditors
The pandemic has developed high stakes for internal auditors to adapt to changing rules and...
Case Study – Borgwarner
The SEC stated that Borgwarner is a motor vehicle parts manufacturer in Michigan materially misstated...
IRS Regulations and Other Guidance on Business Interest Expense Limitation
A business interest expense is the cost of interest on a business loan used to...
Coronavirus Impact on State and Local Tax Landscape
Sales and use tax consequences impacts remote employees and the nation’s battle to cease the...
Judgement guidance for CPA to navigate pandemic-related challenges
Lease Concessions • Lessor or lessee can elect to apply or not apply guidance...
Summary of Tax Rules for Liquidating Companies
Liquidations occurs when a company is closing because it cannot pay its bills or the...
Secure These Four Accountancy Skills
The AICPA launched the CPA Evolution Initiative which includes skills needed for accountants. • ...
Biotech Properties Draw Billions of Dollars as Other Real Estate Languishes
Covid-19 is clobbering hotels, shopping centers and senior housing communities. But the pandemic is providing an extra...
FASB ASC Topic 606 Framework for Auditing Contracts, Revenue Recognition
Public and private companies that enter contacts with customers to transfer goods or services or...
A Current Look into Section 301 Tariffs, Product Exclusions
The shifty economic and trade tensions have been high as the U.S. and China, the...Archive
January 12, 2021
The pandemic has developed high stakes for internal auditors to adapt to changing rules and cyberattacks are becoming increasingly more... Read more
January 7, 2021
The SEC stated that Borgwarner is a motor vehicle parts manufacturer in Michigan materially misstated financial statements by failing to... Read more
January 7, 2021
A business interest expense is the cost of interest on a business loan used to maintain business operations or pay... Read more
January 6, 2021
Sales and use tax consequences impacts remote employees and the nation’s battle to cease the spread of coronavirus cases. The... Read more
January 6, 2021
Lease Concessions • Lessor or lessee can elect to apply or not apply guidance to contract *Refer to recent... Read more
January 5, 2021
Liquidations occurs when a company is closing because it cannot pay its bills or the value of the business assets... Read more
December 31, 2020
The AICPA launched the CPA Evolution Initiative which includes skills needed for accountants. • Competency • Communication ... Read more
July 15, 2020
Covid-19 is clobbering hotels, shopping centers and senior housing communities. But the pandemic is providing an extra boost to landlords leasing to... Read more
July 12, 2020
Public and private companies that enter contacts with customers to transfer goods or services or non-financial assets should carefully follow... Read more
June 29, 2020
The shifty economic and trade tensions have been high as the U.S. and China, the world’s largest trading partners, are... Read more
June 24, 2020
California The California Franchise Tax Board has made significant tax developments to its existing rules for taxpayers doing business in... Read more
June 23, 2020
The Tax Cuts and Job Act has modified various cost recovery rules under Sec. 179 and 168 under Rev. Proc.... Read more
June 4, 2020
Attention taxpayers! These days, taxpayers need to understand the reasoning behind Sec.7502(a), which states a petition must be timely mailed... Read more
May 27, 2020
All professional tax prepares should review their data security protections by developing a written plan describing the company’s policies to... Read more
May 26, 2020
Tax professionals can complete the filing of returns online by using e-Services made possible by the IRS. The primary services... Read more
May 25, 2020
FASB voted to delay the effective dates for its standards on accounting for leases, credit losses, hedge accounting, and long-term... Read more
May 25, 2020
On September 12, 2019, FASB revised its balance sheet debt classification in a Proposed Accounting Standards Update, which adopted an... Read more
May 25, 2020
The outcome of South Dakota v. Wayfair, Inc. (2018) affected each state’s nature of sales tax collection for remote sellers... Read more
May 21, 2020
Out with the old and in with the new. Recently, Financial Accounting Standards Board ASC Topic 842, Leases or ASU... Read more
May 21, 2020
For some taxpayers, the time may come when the IRS audits their income tax return. There are two solutions taxpayers... Read more
May 20, 2020
As stated in IRS Restructuring and Reform Act of 1998, P.L. 105-206 Sec. 6751(b)(1), taxpayers can dissolve penalties by submitting... Read more
May 20, 2020
Overview FASB Accounting Standards Codification (ASC) Subtopic 740-10 No. 48 provides accounting and disclosure guidance on the recognition of taxes... Read more
May 20, 2020
Part 1 When the U.S. Supreme Court revised the outcomes of South Dakota v. Wayfair, Inc. (2018) and Quill Corp.... Read more
May 20, 2020
Cybercrimes occur often, and the risks are damaging to a company’s reputation, development, and client and investor relations. C-level leaders... Read more
May 20, 2020
Under new guidance of FASB’s Issuance of Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers (Topic 606), the... Read more
May 16, 2020
Information returns are crucial for taxpayers. If they fail to report and pay the correct amount of tax on time,... Read more
May 16, 2020
According to the Bluebook of The Joint Committee on Taxation, a business meal expense is considered entertainment and not deductible.... Read more
May 16, 2020
Are you considered an independent contractor or an employee? Many factors differentiate your placement. The IRS states that a worker... Read more
May 16, 2020
Due to the underutilization of R&D tax credit, taxpayers of startup companies that develop or improve products should be aware... Read more
May 15, 2020
According to The Joint Committee of Taxation, federal tax expenditures for the research tax credit will reach $16.4 billion in... Read more
August 1, 2019
Electric vehicle charging points are great to see popping up in all corners of the globe, but when it comes... Read more
July 30, 2019
Despite all the hullabaloo about electric cars, they're still a very new technology. And, as much as we've heard about... Read more
July 28, 2019
Just when everyone had pretty much given up hope of getting lawmakers in our hyper-polarized nation’s capital to agree on... Read more
July 13, 2019
As the automotive and technology industries collide, many tech companies find themselves in an exciting but daunting position: having to... Read more
June 22, 2018
The IRS examined Coca Cola’s consolidated tax returns and it determined that royalty payments made by Coca Cola’s licensee corporations... Read more