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Getting Started with IT Asset Management Services
If your organization is looking to reduce its costs with IT assets, you should consider implementing an IT asset management (ITAM) system. Tracking your organization's IT assets is an effective way to...
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State Tax Changes for 2018 and 2019: What Businesses and Individuals Need to...
As is typical throughout the tax year, some states change their tax rates and their apportionment ratios and methods. Calendar and fiscal taxpayers alike are affected by the changes. And based on where...
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Siemer Milling Company v. Commissioner: Siemer Down! It Wasn’t All Bad for...
April 15 is usually a happy day for tax practitioners and taxpayers alike. April 15, 2019 was not a happy day for Siemer Milling Company and their tax advisors after Siemer Milling Company v....
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New York State Sales Tax Relief for Marketplace Sellers
Under a new provision that was recently added to the New York State Tax Law, a marketplace seller is relieved from liability for the collection of New York State sales tax when it receives Form ST-150,...
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How Does Opportunity Zone Business Investment Work?
A discussion of Qualified Opportunity Fund (QOF) benefits, eligibility requirements, and action stepsThe Tax Cuts and Jobs Act of 2017 (TCJA) created a new tax incentive program for taxpayers to defer...
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Secure Password Guidelines and Their Importance for Corporate and Personal Use
National Institute of Standards and Technology (NIST) Secure Password GuidelinesThe National Institute of Standards and Technology, otherwise known as NIST, is a physical sciences laboratory and...
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Opportunity Zones FAQ: Proposed Regulations Answer Many Questions
The 2017 Tax Cuts and Jobs Act (TCJA) created the federal “Opportunity Zones” (“OZ”) program, a new tax incentive program for investments in low-income communities. In order to utilize the benefits of...
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HIPAA Security Risk Assessment: Going Beyond Regulatory Compliance
If your organization transmits, receives, maintains, or stores protected health information, whether hard copy (PHI) or electronic (ePHI), your organization must comply with the Health Insurance...
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What is Business Impact Analysis?
Is Your Company Ready for the Business Impact of the Next Natural Disaster?Throughout 2018, we witnessed numerous natural disasters. From Hurricanes Michael and Florence to the California wildfires,...
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Software as a Service Sales Tax: Wayfair’s Impact on SaaS and Digital Goods
If you are a CFO at a business that provides SaaS to clients in multiple states, new state sales tax rules will have an impact on your tax reporting and compliance obligationsA recent Supreme Court...
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Update on FASB Lease Accounting Standards for Private Companies
Private companies likely to see delay in deadline for implementing new lease accounting rules.The Financial Accounting Standards Board (FASB, the Board) has proposed a one-year delay in the effective...
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How to Register for State Sales Tax: A State-by-State Guide
Once you have determined that you need to register for sales tax, how do you actually accomplish that? As with all things sales tax related, the answer is “It depends”. It depends on which state you...
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Trust Residency Rules: Supreme Court Limits State Ability to Tax Trust Income
Trust Residency Rules: Supreme Court Limits State Ability to Tax Trust IncomeThe U.S. Supreme Court has ruled against a North Carolina law that attempted to collect income tax from a trust based solely...
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GASB 87: Implementation Guide for Lease Accounting Standard
Requirements of GASB Statement No. 87, LeasesThe Governmental Accounting Standards Board (GASB) has issued an Implementation Guide to help clarify, explain and elaborate on the requirements of...
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Pennsylvania Corporate Nexus Standard Update
Pennsylvania requires taxpayers with economic nexus to file corporate tax reports after 2019Source: Corporation Tax Bulletin 2019-04, Pennsylvania Department of Revenue, September 30, 2019, ¶204-728 ....
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ASC 842 Transition: Three Components Your Lease Accounting Transition Policy...
Understand and consider the different options available as you review your leases, but…Private entities subject to the Financial Accounting Standards Board’s (FASB’s) new lease accounting standard ASC...
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Lease Accounting Software Selection
Financial Accounting Standards Board’s (FASB’s) new lease accounting standard ASC 842 may require new software for management and reporting purposesPrivate entities got some relief from the Financial...
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ASC 842 Effective Date: FASB Finalizes Lease Accounting Extension for Private...
Many Companies Still Face Significant Lease Accounting ChallengesThe Financial Accounting Standards Board (FASB) has finalized a one-year delay in the effective date of ASU 842 Leases for non-public...
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Sample Federal Fund Procedure Manual Now Available for NY School District...
New Requirements for Documenting Internal Controls for Administration and Compliance AddressedAs a member of the Public School Accounting Committee of the NYS Society of CPAs, Freed Maxick’s Kathryn...
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Self-Directed IRA Guide: How to Expand Your Retirement Investment Options...
If you’re looking for something more than stocks, bonds and mutual funds, a SDIRA might be for you.Individuals seeking alternative investment options with their retirement account funds should consider...
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