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Accounting News

The End of Available-For-Sale Equity Securities (ASU 2016-01)

The Guidance In January of 2016, the FASB issued Accounting Standards Updates 2016-01, Financial Instruments – Overall, which requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the...

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Recent developments that may affect a YOUR tax situation

The following is a summary of important tax developments that occurred in January, February, and March of 2019 that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps...

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Treat your captive like an insurance company, not a tax dodge

Another example of why if you’re going to set up a captive, you need to treat it like an insurance company and not a tax dodge. Captive Insurance Arrangement Not Insurance; Premiums Not Deductible A microcaptive insurance arrangement did not meet the definition of...

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UPDATE: ASU 2016-01 FINANCIAL INSTRUMENTS

WHY: Before the global financial crisis that began in 2008, both the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) began a joint project to improve and to achieve convergence of their respective standards on the...

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