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Accounting News

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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Improving Financial Oversight of Board Members

by Kyle Robbins, CPA Individuals will often join a not-for-profit board with the intent of focusing on their strengths to help further the mission of the organization. These strengths are also what made the individual stand out to the organization in the board...

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IRS Warns Taxpayers of New Twist on Phone Scam

The IRS has warned taxpayers of a new twist on the impersonation phone scam as criminals fake calls from the Taxpayer Advocate Service (TAS). In this scam, criminals "spoof" the telephone number of the TAS office in Houston or Brooklyn. Calls might be...

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