Because the revenue recognition update is so broad in scope, it may mean significant changes for companies’ current revenue and financial reporting processes, especially in…
Many businesses are not aware their employee benefit plans may come with annual reporting obligations. Most employee benefit plans – that are large plans –…
The statement of cash flows provides answers to the important question “Where did the money go?”
The IRS has significantly increased its employment tax enforcement efforts, and employers who are misclassifying their workers as independent contractors could face significant penalties.
Current economic conditions for the energy sector may indicate that the carrying amount for a long-lived asset has become unrecoverable. In these circumstances, the asset…
Carefully executed estate planning also allows you to maximize the value of the inheritance you leave to your beneficiaries.
U.S. citizens with financial interest in or signature authority over a foreign financial account may need to file a Report of Foreign Bank and Financial…
While many think estate planning is only for the elderly or rich, estate planning allows everyone to protect their family’s financial security and ensure their…
Stephen “Steve” Romig, CPA, was recently awarded the AICPA’s Public Service Award for Individuals. The award “honors an individual who has demonstrated outstanding public service activities from…
A new regulation from the Governmental Accounting Standards Board will require state and local governments to disclose any tax abatements they offered.