Archive for March, 2016

A refresher on asset retirement obligations

Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 410-20 (formerly FASB Statement No. 143) has particular implications for oil and gas companies due to the many legal obligations involved with retiring long-term assets in this sector.

Clarifying 2016 Louisiana Sales Tax Legislation

Act 26: The Clean Penny Act As a result of the recently concluded special legislative session, the Louisiana state sales […]

Douglas Hidalgo Elected Chairman of the Board of the Houston Hispanic Chamber of Commerce

Dr. Laura G. Murillo, president and chief executive officer of the Houston Hispanic Chamber of Commerce, has announced that Douglas […]

Extended issuing of 1099S

Investors eager to file their taxes this year may be feeling held up by the delayed issuance of 1099 tax statements.

Accounting for gas balancing

Advances in technology and efficiency of U.S. oil and natural gas has led to significant increases in production, and with that, additional accounting challenges for well owners.

Analyzing and Managing Cash Flow

Cash flow allows businesses to cover expenses or expansions, but for the construction industry, maintaining a strong cash flow can be especially critical and challenging.

The New Generation’s Impact on the Nonprofit Industry

While millennials do not currently make significant monetary donations to nonprofits, the size of their population and their personality characteristics show enormous potential as a future funding group.

Tax consequences of charging below-market rent

Many property owners fail to realize offering a rental to a relative at a below-market rate could make the property ineligible for certain tax breaks.