Beware of unexpected tax liabilities under new accounting and tax rules!

The Tax Cuts and Jobs Act (TCJA) contains a provision that ties revenue recognition for book purposes to income reporting for tax purposes, for tax years starting in 2018. This narrow section of the law could have a major [...]

By |2018-08-31T12:32:20+00:00August 31st, 2018|Categories: Blog, Tax|Tags: , |0 Comments

Let Financial Statement Audits Boost Your Business

As a privately held company, you are not required to prepare and submit financial statement audits. Currently, U.S. government regulators require that only public companies that sell stock or bonds, or companies that are in the process of going public [...]

By |2018-08-28T20:41:27+00:00August 28th, 2018|Categories: Audit, Blog|Tags: , |0 Comments

When It’s Time to Take Money Out of Retirement Plans

The term "distributions" refers to money withdrawn from a retirement plan. Generally, traditional IRA and 401(k) account holders are eligible to take penalty-free distributions at age 59 1/2, but the IRS doesn't require distributions until you turn 70 1/2. People [...]

By |2018-08-28T20:37:28+00:00August 28th, 2018|Categories: Blog, Estate & Trust, Tax|Tags: , , |0 Comments

How to Prepare for a Business Valuation

A key starting point to establishing your business worth is to assemble all the required information: the business financial statements, operational procedures, marketing and business plans, customer and vendor information, and staff records. Well-documented financial statements and tax returns [...]

By |2018-08-28T20:37:58+00:00August 28th, 2018|Categories: Audit, Blog|Tags: |0 Comments

Keep it SIMPLE: A tax-advantaged retirement plan solution for small businesses

If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax deductions and help you attract and retain employees. For [...]

By |2018-08-27T14:00:34+00:00August 27th, 2018|Categories: Blog, Tax|Tags: , , |0 Comments

Identifying and reporting critical audit matters

For over 40 years, the Securities and Exchange Commission (SEC) has required only a simple pass-fail statement in public companies’ audit reports. But the deadline for mandatory reporting of critical audit matters (CAMs) in audit reports is fast approaching. [...]

By |2018-08-24T14:23:43+00:00August 24th, 2018|Categories: Audit, Blog|0 Comments

Use pay-ratio disclosures with caution

Starting in 2018, certain public companies must disclose the ratio of their CEO’s annual compensation to that of its “median employee.” The rule allows for significant flexibility in calculating these ratios, leading to widely divergent ratios within the same [...]

By |2018-08-21T17:15:55+00:00August 21st, 2018|Categories: Blog, Tax|Tags: , , |0 Comments

Choosing the right accounting method for tax purposes

The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more businesses. Now the IRS has provided [...]

By |2018-08-13T12:49:10+00:00August 13th, 2018|Categories: Blog, Tax|Tags: , |0 Comments

San Francisco lessors: Get ready for the new gross receipts tax

Commercial property lessors in San Francisco should prepare for a sizable tax hike effective January 2019; the City’s voters passed Proposition C in June. The Commercial Rent Tax for Childcare and Early Education Tax imposes an additional 3.5% gross receipts [...]

By |2018-08-10T16:40:05+00:00August 10th, 2018|Categories: Blog, Gregory C. Brown, Tax|Tags: , , , |0 Comments