Tax Archives

Fast Paced Shifts in Technology An industry once isolated from technology is now experiencing fast-paced shifts, from advancements in 3D printing to the emergence…

How Sustainability Challenges in Local Governments are a Going Concern

Everything we need for our survival depends on the sustainability of the environment. How we work to maintain our environment and economy will directly…

The Contractor’s Guide to State Sales Tax Audits

The overwhelming feeling of dismay is not unusual when it comes to state sales tax audits. The process can often be time-consuming and expensive….

Develop an Implementation Plan for OMB Changes

In late 2013, the U.S. Office of Management and Budget (OMB) announced comprehensive grant reform rules titled “Uniform Administrative Requirements, Cost Principles, and Audit…

Key Factors to Consider When Implementing GASB Statement No. 68

In June 2012, the Governmental Accounting Standards Board (GASB) issued two new statements impacting how state and local governments report their participation in pension…

Is Your Construction Company’s Accountable Reimbursement Plan Compliant?

Not long ago, the IRS released Revenue Ruling 2012-25, which serves as a reminder of the rules to employers whose accountable reimbursement plans may…

What You Need to Know about Implementing GASB Statement No. 67

In June 2012, the Governmental Accounting Standards Board (GASB) issued two new statements impacting how state and local governments report their participation in pension…

FASB Issues Guidance on Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items

The Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. Subtopic…

The Rules for Deducting International Business Travel Expenses

The end of 2013 marked “stronger than expected” growth in domestic business travel, according to the Global Business Travel Association (GBTA), and it’s only expected…

Tax Challenges during C Corporation to S Corporation Conversion

Under the right circumstances, S corporations may provide significant tax advantages over C corporations, thus prompting many business owners to convert to the former. However, this…

Why You Should Care about Unclaimed Property

An item that states have been increasingly looking at is unclaimed property. While not a tax, it is a major revenue source for states,…

Business Owners Can be Personally Liable for Unknown State Taxes & Penalties

A few years ago, the 75 percent shareholder and president of a corporation visited the Chicago restaurant owned by the corporation to find it…

Personal Exposure for Business Tax

More and more business owners, officers and other responsible parties are finding that the “corporate veil” is becoming increasingly easy for taxing authorities to…

Non-Profits: Rules for Entering a Joint Venture Arrangement

For decades, non-profit organizations have been looking for ways to increase revenue in order to better achieve their charitable (or exempt) purpose. One way…

GASB Statements 67 and 68

In June 2012, the Governmental Accounting Standards Board (GASB) issued two new statements impacting how state and local governments report their participation in pension…

Tax

Client Spotlight: MRC Polymers

Client Spotlight: Ixmation

Manufacturing Report 2015: Overcoming the Five Barriers to Business Growth

How Sustainability Challenges in Local Governments are a Going Concern

The Contractor’s Guide to State Sales Tax Audits

Develop an Implementation Plan for OMB Changes

Key Factors to Consider When Implementing GASB Statement No. 68

Is Your Construction Company’s Accountable Reimbursement Plan Compliant?

What You Need to Know about Implementing GASB Statement No. 67

FASB Issues Guidance on Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items

The Rules for Deducting International Business Travel Expenses

Tax Challenges during C Corporation to S Corporation Conversion

Why You Should Care about Unclaimed Property

Business Owners Can be Personally Liable for Unknown State Taxes & Penalties

Personal Exposure for Business Tax

Non-Profits: Rules for Entering a Joint Venture Arrangement

GASB Statements 67 and 68