SEC Extends Relief for Companies Affected by COVID-19

In light of the COVID-19 pandemic disruptions, the SEC recently released some relief and guidance for public companies and SEC registrants.

How COVID-19 Affects Financial Reporting

The COVID-19 virus will have an impact on your financial reporting, accounting, and disclosures. Here are some key ways you can expect your financial statements to change.

April 15 Tax Payment Deadline Extended Amid Coronavirus Pandemic

Filing extensions and tax payment relief are coming for individuals and businesses in response to the COVID-19 virus pandemic, but the request for extensions must be made by the original April 15 tax filing deadline.

Webinar: Healthcare Transactions: A Valuation Perspective

Our complimentary presentation will provide an overview of the fair market value standards in healthcare and include a discussion of valuation methodologies and the drivers and risk factors that affect value.

Webinar: Eye on Washington Quarterly Update Q3 2020

Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance, topics covered will provide the up-to-date information you need to help you plan for the future.

Webinar: Eye on Washington Quarterly Update Q2 2020

Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance, topics covered will provide the up-to-date information you need to help you plan for the future.

Webinar: Eye on Washington Quarterly Update Q1 2020

Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment. From federal tax reform to IRS guidance, topics covered will provide the up-to-date information you need to help you plan for the future.

Webinar: Quarterly Accounting and Financial Reporting Issues Update Q3 2020

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

Webinar: Quarterly Accounting and Financial Reporting Issues Update Q2 2020

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

Webinar: Quarterly Accounting and Financial Reporting Issues Update Q1 2020

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

Preparing for the Financial Impact from Coronavirus

With the human cost that accompanies the COVID-19 virus, conversations around its financial impact on businesses can be difficult to have. Financial leaders need to be prepared to navigate the COVID-19 virus’ repercussions for their organization’s bottom line. Depending on the company’s sector and geographic footprint, that impact could be significant.

The Campaign and Taxes Part 10: How Much You Would Pay Under the Candidates' Plans

As the Democratic presidential candidate pool narrows, it’s a good time to check in on some of the candidates’ tax proposals. Our analysis breaks down a hypothetical example of how a taxpayer would fare under each proposed tax plan.

Remember This Accounting Change When Buying or Selling a Business

The effects from revenue recognition will be felt far beyond the controller’s office. It may also have an impact on M&A conversations. Here are some points that buyers and sellers should consider.

Clarifications Coming to Not-for-Profit Accounting for Contributions of Nonfinancial Assets

Insight into how not-for-profit organizations use financial donations has long been easier to get than information on how organizations use their nonfinancial contributions, such as donated services. A proposed accounting change would require organizations to disclose more detail about their use of nonfinancial assets.

Biggest Stories in 2020 for Not-For-Profit Risk Management

Our team recently gathered feedback from not-for-profit and higher education professionals about their approach to key risks and challenges. Their insights may be a useful guide in allocating your organization’s risk management resources this year.

A Whole New World for Contemporary CFOs

CFOs have more complex roles than ever. While we won’t take you on a magic carpet ride, we hope to share some of our observations around the evolution we are seeing with the CFO role.

How Proposed Regulations for the 'Lag Method' Affect 2019 Tax Reporting

Proposed regulations for U.S. partnerships with certain international activities may make 2019 tax reporting more complicated for those partnerships. The regulations explicitly state that taxpayers cannot use them until certain 2019 Forms are updated, and we are still waiting on final instructions for those forms.

What the Enforcement of Cryptocurrency Compliance Means for CFOs

Companies entering the brave new world of digital currency should be extra vigilant with their tax reporting obligations. Recent IRS compliance efforts around cryptocurrencies are proving to be more intense and far-reaching than other types of oversight.

The 2020 Campaign and Taxes Part 9: Bloomberg, Biden, and Bipartisanship

The tax plan of former New York Mayor and 2020 Democratic presidential candidate Michael Bloomberg shares something in common with his campaign overall: it’s moderate. Compared to the tax plans referenced by the other Democratic presidential candidates, the outline of Bloomberg’s plan is most akin to former Vice President Joe Biden.

Keep This Income Tax Accounting Simplification on Your Radar

A recent accounting standards update could have a significant impact on your accounting department.

Will Final Regulations Bring Certainty to a Land of Opportunity?

Opportunity zones provide one of the greatest tax deferral vehicles in the tax reform law commonly known as the Tax Cuts and Jobs Act (TCJA). However, the rollout of investment opportunities in qualifying funds has been hampered by confusion and uncertainty.

2020 Not-for-Profit Accounting Preview

Complex standards and organizations’ implementation efforts related to those standards will continue to dominate the accounting conversations for not-for-profits throughout the year.

Top 6 Audit Risks Private Companies Should Watch for with the Revenue Recognition Standard

Now that both public and private companies have adopted the revenue recognition changes under ASC Topic 606, private companies will be gearing up for their next challenge: their audit.

The CFO's Guide to the CCPA

Privacy protection regulations are not such a foreign concept any more. The California Consumer Privacy Act provides a template of what U.S. companies may expect to see in privacy regulations trends moving forward.

8 Financial Reporting Risks to Monitor for This Year

Public company comment letters and feedback often indicate the compliance focal points for financial reporting. Here’s a look at what could be top of mind in 2020.

7 Ways to Make Your Financial Close Easier

These seven steps can help finance departments close out their books on 2019 reporting.

4 Trends That Could Affect Your Accounting in 2020

A recent accounting conference highlighted some of the broader stories we can expect to affect finance departments this year, including technology trends, macroeconomic issues, and forthcoming accounting changes.

OECD Updates and Other Transfer Pricing News

Two major OECD proposals could have an impact on companies with transfer pricing requirements.

Timing of Revenue Recognition: Considerations for Service Organizations

Service organizations may face unique challenges with the adoption of the revenue recognition standard. The following provides some insight and illustrative examples at how the ASC Topic 606 standard may apply to common service organization arrangements.

The 2020 Campaign and Taxes Part 8: Taxing Capital

More details are emerging about 2020 presidential hopefuls’ tax plans.

Extenders Bill Brings Big Changes for Not-for-Profits

An appropriations bill passed on December 20 contains a gift for not-for-profit organizations. The so-called Further Consolidated Appropriations Act, 2020 (FCAA) provides a long-awaited solution for not-for-profits that provide certain transportation and parking benefits to their employees.

4 Applications of Revenue Recognition & Contribution Accounting in Not-for-Profits

To help conceptualize how the updates in ASC Topic 606, Revenue from Contracts with Customers and ASC Topic 958, Not-for-Profits, affect your organization, we have compiled some examples to showcase the guidance in application. The following may help illustrate how the new accounting principles affect common arrangements your organization may encounter.

Top 5 Accounting and Tax Stories of 2019

Global political dynamics, regulatory updates, and accounting developments dominated the accounting and tax world in 2019. The following is a preview of some of the year’s biggest stories.

IRS Backs Down from Expanded Requirement to Disclose Partnership Tax Capital on 2019 Returns

Relief is coming for partnership 2019 tax reporting. A recent IRS announcement delays several information reporting requirements.

Tax Reform, Two Years Later

Tax reform clarifications keep coming. Here’s a look at how 2019 tax reform updates could impact your business.

2020 Accounting Preview

Here’s a snapshot of the top accounting topics that companies should be aware of going into the new year.

Year-End Tax Planning Strategies for Your Business

There’s still to make some strategic tax moves for your business that could help you save on 2019 taxes. Here are some of top ideas to consider, including strategies for recovering the cost of business property, dispositions of business property, and tax attributes and corporate tax considerations.

Best of Cyber Month 2019

Threats to information security remain top of mind for many organizations today. At industry risk management conferences this fall, we asked attendees about their greatest area of risk and more than 72% of respondents said the same thing: Data and cybersecurity.

Technology Valuations and the Path to Profitability

Recent technology company initial public offerings have changed the landscape for early-stage tech companies. Here’s what technology companies and investors should know about their current marketplace.

Your Guide to 2019 Accounting Changes

Both public and private companies have some major accounting updates that will affect their 2019 financial reporting. The following recaps what companies need to know to be prepared for year end, including the potential impact accounting changes could have on 2019 financial statements.

An Important Estate and Gift Tax Planning Question Answered

The IRS announced recently that enhanced estate and gift tax planning opportunities will not be clawed back once the provisions expire.

Webinar: Individual Year End Tax Planning Tips for 2019 and Beyond

Please join us for this webcast in which we will identify and assess effective individual year-end strategies including interactions with trusts and estates, S corporations and other pass-through entities for optimal tax minimization for 2019 and beyond.

Webinar: Eye on Washington Quarterly Update Q4 2019

Our Eye on Washington webinars assist CEOs, CFOs, financial executives and advisors, and other interested parties in navigating the complex tax environment.

How Not-for-Profits Can Find the Middle Ground between Efficiency and Innovation

Is your organization setting the bar for overhead expenses too low? The perceived harm of overspending on non-program related ventures could be stifling innovation in your organization. Here’s a guide on how to strike the right balance between budget and modernization.

6 Tips for Building a Resilient Charitable Contribution Plan for 2020

The landscape has shifted for charitable giving. As individuals feel the effect of the Tax Cut and Jobs Act of 2017 on their personal tax situation, charities making requests for donations will need to respond in kind.

How to Explain Revenue Recognition Impact to Your Financial Statement Users

All private companies should be prepared to answer at least one question about their 2019 financial statement: How did the new revenue recognition standard affect your organization? The following provides a closer look at how to communicate the impact of ASC Topic 606.

Partnership Reporting Changes on the Horizon

Draft versions of 2019 partnership tax returns indicate that substantial information reporting changes are on the way. Here’s a closer look at what partnerships can expect.

The Important Role Purchase Price Allocation Plays in M&A

If M&A is part of your inorganic growth plan for 2020, you may want to be thinking ahead to the resources needed for purchase price allocations.

Tax Tips for Manufacturers & Distributors: How State and Local Incentives Can Subsidize Your Growth Initiatives

Whether your manufacturing or distribution company is planning to expand, add more employees or bring in new technologies, growth takes investment.

3 Ways Commercial Real Estate Can Save on 2019 Taxes

As the end of 2019 approaches, commercial real estate owners and investors are looking for strategies to increase their 2019 tax deductions and reduce income taxes.