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...
Significant and Current Tax Developments in California and Texas
California The California Franchise Tax Board has made significant tax developments to its existing rules...
Cost Recovery Modifications Under Tax Cuts and Jobs Act
The Tax Cuts and Job Act has modified various cost recovery rules under Sec. 179...
Understanding Sec. 7502(a), USPS, and non-USPS postmarks
Attention taxpayers! These days, taxpayers need to understand the reasoning behind Sec.7502(a), which states a...
How to Plan for Data Security
All professional tax prepares should review their data security protections by developing a written plan...
Improving IRS practitioner services
Tax professionals can complete the filing of returns online by using e-Services made possible by...
Effective dates delayed for SEC, public, and private filers
FASB voted to delay the effective dates for its standards on accounting for leases, credit...
Revised: Balance sheet debt classification
On September 12, 2019, FASB revised its balance sheet debt classification in a Proposed Accounting...
Understanding the Impact of Wayfair on Businesses
The outcome of South Dakota v. Wayfair, Inc. (2018) affected each state’s nature of sales...
New Lease Accounting Standards for Auditors
Out with the old and in with the new. Recently, Financial Accounting Standards Board ASC...Archive
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