August 2018

New Automatic Changes for Small Businesses Meeting the $25 Million Gross Receipts Test

On August 3, 2018, the IRS released Rev. Proc. 2018-40, which provides procedural guidance by…

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FASB Issues Clarifications to Leases Standard

The FASB issued ASU 2018-10 which affects narrow aspects of the guidance in ASU 2016-02, Leases (Topic…

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Determining the Value of Human Capital
Determining the Value of Human Capital

A trained, skilled and innovative workforce able to work as a team to achieve strategic…

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Final Regulations Published for Centralized Partnership Audit Regime

Starting with tax years that begin after December 31, 2017 (i.e. 2018 tax years), partnership…

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Net Operating Losses in the Wake of Tax Reform
Net Operating Losses (NOLs) In the Wake of Tax Reform

Previously, business’s net operating losses could be carried back two (2) years and carried forward…

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It’s Time to Revisit Your Hardship Withdrawal Provisions

Hardship withdrawal provisions are available with most 401(k) and 403(b) plans however, the rules surrounding…

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Going Beyond Salary to Attract Talent
Going Beyond Salary to Attract Talent

Salary is obviously an important factor in attracting talent to your business, however, for many…

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The State Income Tax Consequences of Wayfair
The State Income Tax Consequences of Wayfair

While the U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc. directly affects the state and local…

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Why Companies Need to Put a Price Tag on Intangible Assets
Putting a Price Tag on Intangible Assets

In today’s marketplace, patents, copyrights, brands, customer lists and other intangible assets add significant value…

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FASB Clarifies Nonprofit Grants and Contributions
FASB Clarifies and Improves Guidance for Nonprofit Grant and Contributions Accounting

The FASB issued ASU 2018-08 to clarify the accounting guidance related to contributions made or received.…

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