On July 1, President Trump signed into law the bipartisan IRS reform bill, the Taxpayer First Act, with plans to make overall improvements to the IRS. With changes in management and oversight, the Act implements a host of new developments in customer service, the process of appeals, technology infrastructure and cybersecurity, among others. Customer Service… Read more
Not-for-Profits Now Benefit from GAAP Alternatives
The Financial Accounting Standards Board (FASB) recently announced that it will now extend two of its private company accounting alternatives to include not-for-profit organizations through Accounting Standard Update (ASU) 2019-06. The Private Company Council (PCC), together with the FASB, did not include not-for-profit entities within the scope of the ASU issued in 2014 to simplify… Read more
Retirement Withdrawal Strategies
Are you retired or thinking about it? That probably means you are preparing to transition from a regular paycheck to drawing income from your investments. Don’t forget—taxes will follow you wherever you go. Creative tax strategies are just as important during retirement as they are when saving for it. Many retirees spend most of their… Read more
Cloud-Based Versus On-Premise Software
Last month we announced our newest partnership with Acumatica to offer cloud-based ERP software services. But then we got to thinking—how do clients know which software solution is best for their business? So, we laid it all out, weighing the pros and cons of both cloud-based and on-premise software for you to decide. Before we… Read more
Lingering Uncertainties Post Tax Season
Now that April 15 has come and gone, have all of our tax reform questions been answered? Many taxpayers (and accountants) are still sifting through the changes and awaiting additional guidance surrounding some areas of uncertainty. In some situations, taxpayers have extended returns or will need to file amended returns in the future once the… Read more
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