March 11, 2020
News concerning the coronavirus has dominated the headlines in the past several weeks. Despite the markets’ recent downward trajectory, the overall impact of the virus on professional service firms and the quality of the services they provide is still relatively unknown. That said, from an employment liability perspective, there are some things CPA firms can do to help mitigate the adverse affect on their personnel and employment practices.
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March 11, 2020
Disasters can strike at any time. What would you do if a customer or client is diagnosed with COVID-19 after visiting your office? Are you taking steps to protect your employees?
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October 16, 2019
FASB recently voted unanimously to delay effective dates for private companies and certain other entities for standards on accounting for leases, credit losses and hedging.
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August 19, 2019
So you need to communicate a recommendation quickly to another coworker. Or you need to communicate something complex to your boss. In most cases, you will simply start talking and the person on the receiving end of the message will have to sort through your conversation to get to the core recommendation.
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June 18, 2019
FASB is considering giving accountants at privately held companies and nonprofit organizations an extra two years to implement standards, instead of the one year it sometimes extends them.
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April 19, 2019
The IRS recently announced Revenue Procedure 2019-19 will modify and supersede Rev. Proc. 2018-52, 2018-42 I.R.B. 611, which sets forth the Employee Plans Compliance Resolution System (EPCRS).
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April 11, 2019
The IRS recently issued guidance that provides a safe harbor allowing professional sports teams to treat certain player and staff member contracts and draft picks as having a zero value for determining gain or loss to be recognized on the trade of a player or staff member contract or draft pick.
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February 6, 2019
FASB recently proposed a standard that is designed to ease the transition to its new credit losses standard by providing an option to measure certain types of assets at fair value.
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December 11, 2018
The Department of Revenue has important updates about business tax and franchise and excise tax. This includes information about new account numbers, consolidation and other filing tips.
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December 10, 2018
The Internal Revenue Service recently issued interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after Dec. 31, 2017. The new rules assist taxpayers in determining the amount of parking expenses that are no longer tax deductible. They also help tax-exempt organizations determine how these nondeductible parking expenses create or increase unrelated business taxable income.
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