Not-For-Profit Financial Reporting Changes

Not-For-Profit Financial Reporting Changes

Financial reporting for not‐for‐profit organizations has not changed significantly in many years. Financial statements will change for all not‐for‐profit organizations and will include some changes in presentation and enhanced disclosures. The new standard is...

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2017 Tax Cuts Act: What it Means

The Tax Cuts and Jobs Act was signed by President Trump on December 22, 2017. The Act makes sweeping changes to the U.S. tax code and impacts virtually every taxpayer. Click on the link(s) below to see how this legislation impacts specific entity types. 2017 Tax Act:...

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What is Partnership Taxable Income?

What is Partnership Taxable Income?

Partnerships or LLCs taxed as partnerships, don’t pay federal income tax.  Instead we say they “flow through,” the income to their owners.  So what do we mean, when we use the phrase, “Partnership Taxable Income?” To read the full article, go...

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Don’t let your foreign sub invest in US property

Don’t let your foreign sub invest in US property

If you have a Controlled Foreign Corporation (CFC) that has earnings and profits that haven’t yet be distributed to owners, then you are at risk for what international tax planners call a "956 inclusion." This refers to internal revenue code section 956, which is a...

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Multidimensional Tracking

Multidimensional Tracking

Multidimensional tracking takes a systematic approach to detailing qualitative information about a transaction. This simple tracking method makes your list of G/L accounts more manageable and allows you to generate useful reports that become powerful tools as you...

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Cash is King; a King Needs Guards

Cash is King; a King Needs Guards

I was recently dining with a group of cannabis business entrepreneurs, and while leaving the restaurant, stray cash was falling from one of these entrepreneur’s pockets. As I picked it up and handed it to him, my thoughts immediately jumped to cash controls. There are...

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