Face-to-Face Meetings with Noncompliant Taxpayers
Many people receive IRS notices in the mail, which can be frustrating when trying to resolve the issue since “snail mail” takes forever. Also, let’s not mention the hours spent on hold when trying to discuss the matter with an agent over the phone. Trying to resolve the tax issue
Good News: Tax Deduction from Foreign Income
The Tax Cut and Jobs Act (TCJA) has brought significant changes to the U.S. taxation of foreign income. For decades, the income of certain foreign subsidiaries was only taxed in the U.S. upon repatriation of the income to the U.S. entity. The TCJA changed this deferral regime to a system
How Not-for-Profit Grants and Contracts Effect Revenue Recognition under ASC 606
Steps to Help Not-for-Profits Scrutinize their Revenues for Impact from Recent Accounting Standards The time has come for many not-for-profits to incorporate ASC 606 Revenue from Contracts with Customers in their GAAP financial statements. This overhaul to the model of recognizing revenue with customers has left many questioning what funding
What is a Personal Financial Specialist?
And what are the benefits of meeting with a Personal Financial Specialist? To continue to be recognized as a contributor to the financial planning sector, the American Institute of Certified Public Accountants (AICPA) has developed its own credential including membership resources. Titled the Personal Financial Specialist (PFS), candidates must first
What You Need to Know: Self-Rentals and Negative Tax Capital Accounts
This blog is part of an ongoing series highlighting tips and strategies that could help you benefit from or better manage your real estate interests. Be sure to check back to our Real Estate blog frequently to learn more. Did you Know: Self-Rentals Did you know that rental income to
How Manufacturers Prepare in an Uncertain Economy
President and Principal of the Institute for Trend Research (ITR) Economics, Dr. Alan Beaulieu made his 11th appearance and economic forecast for 2020. Attended by over 600 business leaders and owners from the tri-state area, Beaulieu is no stranger to the Manufacturing and Industrial community. A prolific author