The One Big Beautiful Bill Act (OBBBA) will have widespread impact for almost every taxpayer. Visit our OBBBA Resource Center regularly for continuing updates and guidance on the tax impact of this legislation to you and your industry.
Learn MoreAre you trying to determine whether your company has impairment concerns as a result of the pandemic or due to the economic environment in general? If so, did you know you might have to look at more than just the goodwill on your books, including looking at your non-financial assets — in the right...
Read MoreThis blog was updated 2/17/21 It has been over 50 years since the Securities and Exchange Commission (SEC) comprehensively addressed valuation rules with respect to the fair value of investments held by registered funds. On Thursday, December 3, 2020, the SEC finalized the new Rule 2a-5 under the...
Read MoreOrganizations embark on change continuously, whether by choice or by necessity. However, if not managed effectively, change efforts can cause severe disruption at best, and fail at worst. One key to organizational change is stakeholder management. Too often, change efforts fall prey to lack of...
Read MorePass-through forms of business such as S Corporations and partnerships offer certain domestic tax benefits — namely, the avoidance of double taxation and the ability to claim the 20% deduction under IRC Code Section 199A. However, the global intangible low-taxed income (GILTI) provisions of the Tax...
Read MoreNobody enjoys having to deal with debt covenant issues, but, particularly in times like these, they can be common and can have significant accounting consequences. Due to the economic hardships caused by the pandemic, many companies may find themselves in violation of one or more of their bank...
Read MoreIf your company has a foreign subsidiary or affiliate, at some point you will be faced with foreign currency transaction and translation adjustments. Do you know what each one represents and which financial statement(s) they impact? Do you understand how foreign currency adjustments should be...
Read MoreThis blog was updated 2/17/21 Last week, the Securities and Exchange Commission (SEC) continued its modernization plan, significantly altering the framework for derivatives used by registered investment companies (including mutual funds, ETFs, closed-end funds and business development companies)....
Read MoreTo address the myriad of regulations over the investment industry, the U.S. Securities and Exchange Commission (SEC) provides a variety of guidance and reference materials to industry stakeholders. As a part of that effort, since November 1994, the Chief Accountant’s Office within the SEC Division...
Read MoreThis blog was updated 2/17/21 Earlier this month, the Securities and Exchange Commission (SEC) continued its modernization plan and updated rules related to auditor independence requirements. Auditors must be independent of audit clients both “in fact and in appearance.” Over the past two decades...
Read MoreMany businesses have begun applying for forgiveness of their Paycheck Protection Program (PPP) loans, and Q4 of this year is when they will also need to decide how they will report the funds on their financial statements. It’s up to recipients of a PPP loan, whether forgiven or not, to account...
Read More