Benefits of Outsourced Accounting | Female architect working at her home office desk
ConsultingOutsourced Accounting
November 15, 2019

The Benefits of Outsourced Accounting Services

Any business owner, new or established, understands the need for accurate and up-to-date financial records. Between maintaining compliance with changing tax and accounting laws, being prepared for an audit, or simply issuing precise and thorough…
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ASU 2018-08 | Nassau Hall - Princeton University
Consulting
November 12, 2019

How ASU 2018-08 Affects Not-for-Profit Accounting

In June 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made, to provide needed guidance about accounting for nonprofit…
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Qualified Opportunity Zones | Abandoned industry
Real EstateTax
November 8, 2019

Qualified Opportunity Zones: Revitalizing Communities and Deferring Capital Gains Taxes

In 2017, the Tax Cuts and Jobs Act (TCJA) featured the Qualified Opportunity Zone (QOZ) provision – Code Section 1400Z. While the provision was mostly overlooked at the time, it has now integrated itself into…
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Cost Segregation | Man standing outside a bar
Real EstateTax
October 25, 2019

Post-Tax Reform Benefits of a Cost Segregation Study

Sweeping tax reform in 2017 brought about a number of changes to drastically alter the tax environment in the United States. Between a lowered corporate tax rate, lower rates for certain “pass-through” entities and decreased…
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Farmland and Red Tractor | Tangible vs intangible
Accounting
September 20, 2019

Spotting the Differences Between Tangible vs Intangible Assets

In August 2019, Financial Accounting Standards Board (FASB) member Gary Buesser issued a quarterly report on the status of reporting internally generated intangible assets. While change is unlikely anytime soon, the report did shine a…
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Two business men shaking hands in an office space | Potential FASB Updates Put the Spotlight Back on Goodwill Accounting
Accounting
September 18, 2019

Goodwill Accounting and Potential FASB Updates

In July, the Financial Accounting Standards Board (FASB) announced they were considering making adjustments to the accounting protocol for certain identifiable intangible assets acquired in a business combination and subsequent accounting for goodwill. The FASB issued…
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Row of Buildings in New York - Deciphering the Qualified Business Income Deduction as it Relates to Rental Real Estate
Real EstateTax
September 9, 2019

Deciphering the Qualified Business Income Deduction as it Relates to Rental Property

The passage of the Tax Cuts and Jobs Act (TCJA) in December 2017 instituted a new section of the Internal Revenue Code (IRC). Section 199A introduced the 20% qualified business income (QBI) deduction for certain…
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Los Angeles cityscape during the day | LLC vs. S Corp: A Closer Look at LLCs and S Corps in California
Consulting
September 4, 2019

California LLC vs. S Corp: A Closer Look at LLCs and S Corps in California

For a long time, small business owners elected to operate their business as an S corporation (S corp) due to the many tax advantages. An S corp carries limited liability for owners and no double…
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Happy nurse taking care of a small girl | HRA vs. HSA: Understanding Your Healthcare Options
Consulting
August 12, 2019

HRA vs HSA: Understanding Your Healthcare Options

In 2010 President Barack Obama officially signed the Affordable Care Act (ACA) into effect, thereby requiring employers with at least 50 employees (or full-time equivalents) to provide health benefits and pay for a significant portion…
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Exchange of flowers for money | Seven Strategies for Effective AR Collection
Accounting
July 30, 2019

AR Collection: 7 Strategies for Maximum Effectiveness

In 2018, CB Insights released the results of a survey regarding startup failures. Of the 101 failed startups surveyed, 29% named “Ran Out of Cash” as a top reason why their business collapsed. Depleting your…
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