Cost Segregation – Post Tax Reform Considerations
When taxpayers purchase or construct a building, it is typically depreciated as a single asset over 27.5 or 39 years for income tax purposes.
Contractor Failure: Recognize the Warning Signs
How to Recognize Warning Signs Early and Determine the Best Course of Action The construction industry has always been a volatile and risky business—past economic downturns have forced the industry to face
Neil Keller Named 2019-2020 WICPA Board Chair
The Wisconsin Institute of CPAs announced Neil Keller as the new 2019-2020 Board Chair. Neil Keller, CPA, ABV, CVA, uses his expertise to assist clients
The Department of Education’s Clarification on Proration of Charges for Title IV Aid
How the Department of Education's clarification on proration of charges for Title IV funds can impact your for-profit institution In the IFAP – Electronic
White House Higher Education Goals Released: Key Takeaways
An examination of the White House goal to better align education to the needs of today’s workforce Earlier this year, the Trump Administration released
The Correct Way to Use Your Quality of Earnings Report
Learn Why You May Be Using a Quality of Earnings Report Incorrectly A company’s financial history tells a story. One that unveils its day-to-day
Changes to Illinois Unclaimed Property Reporting
The Illinois Unclaimed Property Filing Window is Closing Fast In the summer of 2017, Illinois finally passed a state tax budget, SB9, that among
Understanding your Composite Score
The importance of a composite score Introduced as an amendment to the Higher Education Act of 1965, a composite score is a tool used
Sikich Series on Tax Reform: What to Expect this Tax Filing Season – Part 1: Individuals
You may recall about a year ago all the articles and published materials covering tax reform that Congress and President Trump enacted on December
Sikich Series on Tax Reform: IRS Issues Final Regulations for New 20% Deduction for Pass-through Businesses
The IRS issued its final regulations on January 18, 2019 on the new 20% deduction for Qualified Business Income (“QBI”) for pass-through businesses (Section
Tax Reform Opportunities for Private Equity Firms in the M&D Industry
The Tax Cuts and Jobs Act (TCJA) is a comprehensive tax bill impacting all manufacturing and distribution (M&D) companies, both large and small. TCJA offers
4 Board Governance Best Practices
To initiate our mini-series on Board Governance policies and Board Fiduciary responsibilities, we will cover some best practices that every board should follow. Effectively supporting
Cost Effective Actions You Can Take to Lower Your Property Tax Bill
Rapidly rising property taxes and assessments on facilities present major challenges for business owners in the manufacturing and distribution industry. In fact, it’s likely
IRS Issues Proposed Regulations Changes for Hardship Withdrawals
The IRS recently released proposed regulations, generally effective January 1, 2019, that provide important clarifications for plan sponsors and offer additional relief regarding hardship circumstances and other requirements. The proposed
AICPA Issues Statement on Auditing Standard Impacting Audit Reports of Employee Benefit Plans Subject to ERISA
The Association of International Certified Public Accountants (AICPA) has elected to pass a new Statement on the Auditing Standard titled Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans
Sikich Series on Tax Reform: IRS Update on Government Shutdown and Impact on 2018 Individual Tax Filings
IRS Opens Up on Government Shutdown and Tax Refunds The current “government shutdown,” is in its third week. Some government agencies are not impacted,
George Malina on American Express’ Open Forum
George Malina was quoted in an American Express' Open Forum article on reconciliation for small and medium-sized companies. George, CSPM, is a partner on Sikich’s
New Jersey Offers Tax Amnesty Program Through January 15th (New Mexico’s Program Set to Expire on December 31st)
Businesses with New Jersey underreported taxes and/or unfiled tax returns may now qualify for a tax amnesty program that ends on January 15, 2019. Program Breakdown This program provides relief from state tax liabilities for tax returns
Sikich Series on Tax Reform: Guidance on Gifting – What It Means for Your Taxes
On November 20, 2018, the IRS issued proposed regulations which further clarified the taxation of past and future gifts under the new tax law. It provides guidance on how gifts will be
