The Financial Accounting Standards Board (FASB) issued an accounting standards update on March 10, 2017 designed to enhance the transparency of financial reporting on pension… Read more »
Categories: Audit & Accounting, Employee Benefit Plans
Beginning October 1, 2016, Maryland now imposes penalties on employers who misclassify employees as independent contractors. It is the employer’s burden to prove proper classification… Read more »
Categories: Audit & Accounting
Effective October 1, 2016, organizations that receive at least $300,000 but less than $750,000 in charitable contributions must submit a financial review with their registration…. Read more »
Categories: Audit & Accounting
Several laws passed during 2015 created new rules that will affect your 2016 tax returns. Here’s an overview. New Due Dates Form 990. The initial… Read more »
Categories: Tax, Tax Planning
On August 4, 2016, the Internal Revenue Service (IRS) issued proposed regulation REG-163113-02 which, if adopted, would limit or preclude the use of valuation discounts… Read more »
Categories: Tax, Small Business, Tax Planning, Estate Tax
On August 18, 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-14, Not-for-Profit Entities (NFPs). The new guidance contains significant changes to the financial… Read more »
Categories: Audit & Accounting
In assessing their businesses, most owners focus on growth in sales and profits. Yet these do not guarantee business health and success. Another important gauge… Read more »
Categories: Audit & Accounting
Estate planning is not just a task for the wealthy. Even though federal tax implications kick in only if your estate exceeds $5,430,000, there are… Read more »
Categories: Tax Planning, Estate Tax
The advantage of filing a joint tax return is well known – you generally save money compared to filing separately. However, there is at least… Read more »
Categories: Tax
On May 18, 2015, the U.S. Supreme Court, based upon a 5-4 ruling, struck down a Maryland income tax law, calling it “discriminatory” because it… Read more »
Categories: Tax
