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Learn MoreMany companies pay interest on variable rate loans, based on the London Interbank Offered Rate (LIBOR). But, by 2021, LIBOR will have been phased out in response to a series of scandals, where regulators uncovered collusion between banks to manipulate LIBOR to profit on the financial instruments...
Read MoreWith the many types of loans available to borrowers, nonrecourse loans remain popular because they can shield borrowers from personal liability. But lenders will try to add “carveouts” to minimize that protection. If borrowers violate carveouts in the loan document, they may be left with full...
Read MoreThe U.S. Department of Labor (DOL) has released a final rule that should make it easier for smaller businesses to provide retirement plans to their employees. According to the DOL, the rule will enable more small and midsize unrelated businesses to join forces in multiple employer plans (MEPs) that...
Read MoreIn November 2016, the Financial Accounting Standards Board issued ASU 2016-18, Statement of Cash Flows (Topic 230) – Restricted Cash. Although previously available for early adoption, this standard is required to be implemented by non-public companies with fiscal year-ends beginning after December...
Read MoreIn early August, the IRS began issuing Notice CP2000 to advise taxpayers owning virtual currency that the income or payment information the IRS received from independent third-party sources does not match the virtual currency income information reported on taxpayers’ federal income tax returns....
Read MoreHave you personally ever listened to a song and immediately felt warm and safe, like being wrapped in a blanket? Business owners often seek that same feeling of assurance and comfort about the “safety” of a potential business partner, especially in today’s environment of Big Data and cybersecurity...
Read MoreAs always, there is a lot going on in the tax world that impacts businesses and their owners, this year in particular due to the Tax Cuts and Jobs Act. It was my privilege to again serve as editor of the AICPA’s Tax Adviser August Tax Clinic, a special section in the professional journal that brings...
Read MoreInformation Release 2019-132, issued on July 26, 2019, advises virtual currency owners to expect a letter providing information on how to pay back taxes through filing amended returns. Virtual currency investors were identified through ongoing enforcement actions, including the summons on the...
Read MoreCybersecurity threats, data breaches and email fraud have become part of the daily headlines, impacting businesses and organizations of all sizes and from all industries. During 2018, an estimated 5 billion records were breached world-wide, costing companies an average of $3.86 million per breach....
Read MoreSo, you have piloted a robotic process automation (RPA) program and like what you’ve seen so far. Now what? Beyond simply deploying additional automations (the selection and management of which could be a discussion all its own), how can the RPA platform be extended to enhance value? As powerful as...
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