…lease and revenue recognition standards for certain entities. ASC 842 Construction Industry Impacts The accounting industry is facing one of its biggest recent changes with the new lease guidance that…
SEC Custody Rule’s No-Action Letter Provides Some Relief to Registered Investment Advisors (RIAs) The SEC has issued a no-action letter providing relief from some investment advisors’ requirement to receive a…
…one-year delay on the required implementation dates of the new lease and revenue recognition standards for certain entities. What are the Financial Statement Presentation and Disclosure Requirements of the Lessee…
…accounting and private industry. Specialties include: GAAP financial statement audits and financial reporting Revenue recognition (ASC 606) and stock-based compensation accounting (ASC 718) Business combinations, debt and equity instruments, and…
Employer/employee guide to pension, HSA, and other retirement related adjustments The Internal Revenue Service (IRS) announced cost of living adjustments to contribution limits for individual pension plans and other retirement-related…
…be transferred from the distilled spirits plant tax-free. Changes to UNICAP rules related to interest Under the Uniform Capitalization rules in section 263A of the Internal Revenue Code, certain direct…
Research and development accounting method change procedure update On December 29, 2022, the Internal Revenue Service (IRS) issued guidance for businesses to use the automatic accounting method change procedures to…
…include: The Russian Ruble has collapsed 50% against the US dollar in less than two weeks. A 50% currency collapse means cybercriminals have to bring in 2x the revenue just…
…December 31, 2025. As noted above, the deduction is based on “qualified business income,” a newly defined term in the Internal Revenue Code. Qualified business income (QBI) is the sum…
…a priority to have timely and accurate acknowledgements to those donors early in the new year, at the latest, that comply with the requirements of the Internal Revenue Service (“IRS”)….
…equal to the amount of its pandemic-related revenue loss, subtracted by the total amount a qualifying business received in all PPP loans. The Small Business Administration (SBA) will administer and…