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 MorePursuant to statements made by IRS Commissioner Charles Rettig on May 30, 2019, much-anticipated cryptocurrency tax guidance should be released “very soon.” Rettig suggested the guidance, which would come in the form of a revenue ruling and a revenue procedure, could be released within the next 30...
Read MoreThe IRS recently announced the inflation-adjusted maximum fair market value (FMV) of an employer-provided vehicle under the vehicle cents-per-mile and fleet-average special valuation rules. Employers can use these rules to value an employee’s personal use of such a vehicle for income and employment...
Read MoreYou’ve probably heard of Kickstarter and other popular crowdfunding platforms used to obtain funding from individual investors for everything from independent movies and music to healthcare and legal expenses. In the past few years, crowdfunding platforms have also popped up to offer individuals a...
Read MoreWith 2019 underway and the new revenue recognition standard in full swing, now is the time to start planning for the additional disclosures that will be required for private companies on this year’s financial statements and to create your organization’s formal revenue recognition policy. The 8...
Read MoreActively managed exchange traded funds (ETFs) have historically been required to provide portfolio transparency on a daily basis — showing all of their cards, so to speak, and leaving their investment strategies vulnerable for the taking. While many ETFs have filed exemptive relief with the SEC over...
Read MoreIn our recent post on M&A integration strategies, we defined two approaches for a potential M&A integration: building a holding company versus fully integrating an acquisition. Now we will examine how an acquisition can be a catalyst to reimagine your organizational design and create enterprise...
Read MoreThe commercial real estate market has been steadily making improvements since the 2008 financial crisis. While traditional financing is readily available, seller financing may be another viable option for many investors. In seller-financed transactions, the seller generally gives the buyer a...
Read MoreWhen an exempt organization such as a 501(c)(3) generates income unrelated to the core purpose of the organization — whether knowingly or unknowingly — the not-for-profit may face unexpected taxes on that income. Below are six areas that could generate unrelated business income and leave...
Read MoreOn April 17, 2019, the Department of Treasury issued the second set of proposed regulations regarding the Qualified Opportunity (QO) Zone Program. This long-awaited guidance further clarifies how to comply with the program and how to make it over some of the hurdles associated with structuring...
Read MoreThe IRS and the U.S. Department of the Treasury released round two of proposed regulations surrounding the Qualified Opportunity (QO) Zone Program today. The 169-pages of regulations address many areas, including: How businesses headquartered in designated QO Zones may benefit, The timeline...
Read MoreSelling a business is a complex endeavor. As advisors to business owners and shareholders of private companies, we have helped companies to navigate the process from beginning to end. We are excited to share those experiences and insights in this new series, “M&A Essentials.” The series will offer a...
Read MoreApril 3, 2019, marked two “firsts” for the SEC as they simultaneously released: A framework to help determine whether a digital asset offered in an initial coin offering (ICO) constitutes a securities offering and is therefore subject to U.S. securities laws; and A no-action letter clearing...
Read MoreAs noted in a prior post relating to critical steps in mastering an acquisition, a transaction’s deal thesis should drive the integration strategy. More and more companies lead with integration strategy as a way to identify targets and structure the pro forma financial models. While there are...
Read MoreDetermining the fair value of the assets listed on your company’s financial statements, or even a portion of them, is not an easy task. It often leads to ethical dilemmas because of the significant professional judgment required. This is particularly true when valuing investments that are not...
Read MoreMany organizations, particularly in the purchasing department, find it difficult to clearly see, manage and optimize spend across the organization due to decentralized procurement processes, disparate systems and fragmented data. But there’s good news. The growing trend of building integrated...
Read MoreOn March 21, 2019, the FASB issued Accounting Standards Update (ASU) 2019-03, Not-for-Profit Entities (Topic 958): Updating the Definition of Collections. This ASU specifically addresses the use of proceeds from sales of collections and related disclosures. Collections include groupings of art,...
Read MorePrior to the passage of the Tax Cuts and Jobs Act (TCJA) in late 2017, the future of the Historic Tax Credit (HTC) for rehabilitating historic buildings was questionable. The HTC — also known as the federal rehabilitation credit — survived and remains a valuable tool for developers, though it’s...
Read MoreOften, a discussion about robotic process automation (RPA) brings to mind images of robots on a manufacturing line or a Sci-Fi-style android. This makes the demo of an actual RPA “bot” a little anticlimactic. Where are the robots? RPA automation actually comes in the form of virtual software...
Read MoreThe Department of Treasury and the IRS have issued final regulations related to Regulated Investment Company (RIC) qualification testing for RICs invested in foreign corporations treated for U.S. federal income tax purposes as controlled foreign corporations (CFCs) or passive foreign investment...
Read MoreWhile cryptocurrencies have become a popular investment vehicle, there is still much ambiguity regarding how to treat the emerging asset class for tax purposes. Taxation of cryptocurrencies is complicated at any level, be it partnership, corporation or other. However, it's also important to...
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