Sorting Out the Impact of Revenue Recognition on Income Taxes

The Tax Cuts and Jobs Act (TCJA) introduced an additional test for when sales, gross receipts, and other items of income (collectively, sales) are recognized.

FASB Addresses Implementation Issues for Major Standards

Clarity is critical for implementing new accounting standards.

Webinar: First Quarter Accounting and Financial Reporting Issues Update

This quarterly webinar will bring you up-to-date on hot topics, technical matters and current events that affect financial reporting.

Accounting Standard Transitions May Be Rocky for Emerging Growth Companies

The Securities and Exchange Commission (SEC) cuts emerging growth companies some slack when it comes to their financial reporting requirements.

3 Not-for-Profit News Stories to Note

Several not-for-profit developments emerged during the first part of the year that should be on your organization’s radar.

Pros and Cons of Asset Acquisitions

In 2017 the Financial Accounting Standards Board issued an accounting standards update (ASU 2017-01) clarifying the definition of a business.

Improve Your Accounting for Fundraising

As not-for-profit organizations adopt the new financial statement presentation changes, they may want to take another look at their accounting for fundraising costs.

Highlights from the Department of Education Federal Student Aid Conference

As part of our commitment to keeping you informed with the latest regulatory developments, members of our Student Financial Aid Specialty Group recently attended the Department of Education’s Federal Student Aid (FSA) conference in Atlanta.

Webinar: Oddities in Leasing: Don't Let These Provisions Be the Odd Thing Out of Your Implementation Plan

Our free webinar will cover some of the specific considerations for the leasing standard, including build-to-suit and sale and leaseback arrangements as well as tax increment financing projects.

Webinar: How Not-for-Profit Organizations Can Prepare for the New Leasing Standard

This webinar will cover the specific considerations for leasing standard adoption for the nonprofit sector and the steps organizations can be taking now to ensure a smooth transition.

Business Interest Expense Limitation Clarified

The IRS released proposed regulations in November 2018 to provide taxpayers with guidance on applying a key tax reform provision related to business interest expense deductions.

Construction Vital Statistics - December 2018

Profit margin expectations were about the same in December 2018 as they were in December 2017. The Construction Backlog Indicator was down slightly, as were staffing level and sales expectations. The partial federal government shutdown disrupted some commonly used construction benchmarks, including housing permits, and starts, but that information is expected to be available again by early March.

Real Estate Partnerships and the Looming Tax Shelter Threat

Many touted the tax reform legislation known as the TCJA as the most significant change to the Internal Revenue Code (IRC) since the Tax Reform Act of 1986.

Commercial Real Estate Headed for a Slow Down

The improving economic conditions have created a near perfect environment for real estate over the past five years.

Webinar: Invest Time in Inventorying and Other Leasing Implementation Tips

In our free webinar, we will talk about the lease inventory process and other tips that can simplify implementation.

What 'Wayfair' Means for Not-for-Profits

The Supreme Court made 2018 an incredibly exciting year for state and local taxes.

6 Questions Manufacturers Should Be Asking About Their Revenue Recognition Progress

Starting in 2019, private manufacturers will be following new guidance for recognizing revenue from the contracts with their customers.

Accounting for Share-Based Payments to Non-Employees Shows the FASB Simplification Initiative in Action

There is little question that the accounting for share-based payment awards was among the most time consuming and complex areas of U.S. GAAP.

2019 Not-for-Profit Accounting Preview

Even though the pace of new standard setting has appeared to have slowed, not-for-profit organizations will have no shortage of accounting considerations in the next year.

Accounting Adjustments May Be Required for AMT Credits

Corporate AMT refunds claimed under Section 53(e) will not be taking a hit for the federal deficit in 2018, according to a recent IRS update.

How to Prepare for a Successful Implementation of the New Not-for-Profit Reporting Standards

Now is the time for not-for-profit organizations to begin implementing the new changes to their financial statements.

Lingering TCJA Tax Considerations for Not-for-Profits

After the first full year under the new tax reform law, one thing is clear: Several tax reform provisions may make tax reporting more difficult for not-for-profit organizations.

Lessors: Don’t Forget These 3 Simplifications for the Leasing Standard Adoption

Late in 2018, the Financial Accounting Standards Board (FASB) released minor changes to lessor accounting designed to make adopting the new leasing standard easier.

Double Dip on DPAD and Section 199A for Your 2017 Fiscal Year

Double dipping is not overreaching for businesses with fiscal years beginning in 2017 and ending in 2018.

Preparing for Filing Season: Charitable Contributions

It’s the New Year and a new tax season. As the celebrations end and the holiday decorations are put away, the process begins for tracking down and organizing important tax return data.

Government Impasse Won’t Stop Tax Season

Federal agencies may be in the midst of a partial shutdown over southern border security concerns, but tax season hasn’t hit a wall.

8 Revenue Recognition Questions for Contractors

At long last, private contractors will be making the change to their new revenue recognition model.

2019 Accounting Preview

Public and private companies have plenty to work on in the interim. Both have significant accounting changes ahead of them in 2019. Getting a jump start on those updates may make year-end reporting significantly easier.

Construction Vital Statistics - November 2018

Sales expectations, profit margin expectations, and staffing level intentions are all down slightly compared to Q2. The construction backlog indicator is down from where it was a year ago, but total permits are up slightly year-over-year.

Webinar: Introducing Business Central and How It Stacks Up to QuickBooks

In our free webinar, we will compare how Microsoft Dynamics 365 Business Central stacks up against QuickBooks.

Mike Loritz & Mark Winiarski featured in Compliance Week

Mike Loritz & Mark Winiarski featured in Compliance Week discussing year-end audits and internal controls.

Webinar: Tax Check-Up For Not-for-Profits: Year 1 Under Tax Reform and Other Updates

In our free webinar, we will evaluate year one under the TCJA and discuss other tax developments affecting nonprofits.

IRS Relaxes Hardship Withdrawal Rules for Not-for-Profits

Recently, the IRS made several changes to the rules related to hardship withdrawals for not-for-profit organizations.

2019 Outlook for Donations, Grants, and Endowments

Low unemployment, strong stock market performances, and increases in corporate profits made 2018 a stellar year for grant-making foundations and charitable trusts.

Key Issues Facing Public Companies in 2019

At a recent public company conference, one message came through loud and clear: public companies need to be prepared for change.

EBP Auditing Standards Getting An Update

Changes to auditing standards for employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) are on the way.

Mark Winiarski featured in Compliance Week

Mark Winiarski featured in Compliance Week discussing tax reform.

Prepare Your Accounting Year-End Processes for the End of 2018

Before you close the door on 2018, you may want to take a quick review of the changes that will affect 2018 financial statements.

IRS Unveils Sequel to Offshore Voluntary Disclosure Program

Earlier this year, the IRS announced that it would stop accepting OVDP submissions on September 28, and issued updated FAQ's regarding the wind-down of the program.

The New Partnership Audit Rules: How the Private Equity and Venture Capital Sector Can Prepare

With all of the tax changes taking effect in 2018, the private equity and venture capital sector may have overlooked an important change: the new partnership audit rules.

Brace for Accounting Challenges if There’s An Infrastructure Boom

Incentives for infrastructure investments could bode well for the construction and engineering sector. It will also bring some additional accounting considerations that shouldn’t be overlooked.

Measuring the Impact of Revenue Recognition on Not-for-Profit Organizations

Not-for-profit organizations face a big question going into their next fiscal period: how will the revenue recognition standard affect the nonprofit sector? The answer is: It depends.

Construction Vital Statistics - October 2018

Sales expectations, profit margin expectations, and staffing level intentions are all higher than they were during the same period in 2017, which bodes well for the sector.

4 Steps to Restoring Your Not-For-Profit's Reputation after Financial Fraud

Learn how four steps you can take can restore your not-for-profit's reputation after financial fraud.

5 Ways Not-for-Profits Can Harness the Power of Their Data

Data can say a lot about which processes work and which don’t, but with the volume of information a not-for-profit organization is collecting on a daily basis, that message can easily get lost in the shuffle.

2019 Tax Rates and Inflation-Adjusted Figures Released

The IRS and the Social Security Administration have released 2019 inflation-adjusted figures for more than 50 tax provisions.

Six Questions Tech Companies Should be Asking About Revenue Recognition

Technology companies may want to check on their revenue recognition preparedness now by asking themselves the following six questions.

Are Public-Private Partnerships the Solution for the U.S. Infrastructure Issue?

Despite frequent mention in both local and national political campaigns, the United States’ well-documented issue with crumbling national infrastructure just cannot seem to garner the attention that some feel it deserves.

Your Qualified Opportunity Zone Questions Answered

The 2017 tax reform law referred to as the Tax Cuts and Jobs Act (TCJA) created a unique opportunity for investors to both defer and avoid capital gain taxes.

Is Environmental Due Diligence an Imperative for Property Purchases?

After a careful search, you’ve found a commercial property you feel is right for your business or as an investment. Your next step will be a process of due diligence to minimize risk and ensure the building or property is a sound venture.