Relief is Here: IRS Expands Relief Regarding Underpayment Penalty

The Tax Cuts and Jobs Act has brought many new changes for taxpayers across the board. Changes to withholding and tax rates posed a challenging feat for taxpayers and CPAs to navigate the waters of uncertainty surrounding TCJA laws. Some taxpayers

April 2, 2019

Time for Spring Cleaning

Spring is upon us and for most taxpayers 2018 reporting is almost behind them. Form 1099s have been filed, the pass-through business return filing date has just passed, and we are quickly approaching the 4/15 deadline for individual and corporation tax

April 2, 2019

“What’s in a Name?” Re-visit your Chart of Accounts

“What’s in a name?” As accountants, we have a counter argument for Shakespeare’s famous idiom.  The names you give to your accounts, and in particular your sub-accounts, can be very valuable to your financial statements. It’s all too

March 5, 2019

The Tax Cuts and Job Act of 2017 and Its Impact on Divorce

The last thing on your mind when going through a divorce should be tax implications. The old federal income tax treatment of alimony has been permanently repealed with no foreseeable future legislative change.  The most apparent reason

March 5, 2019

ASU 2017-12: “Targeted Improvements for Hedging Activities” – Interest Rate Swaps

The Why: Stakeholders indicated that hedge accounting requirements in current GAAP sometimes do not permit an entity to properly recognize the economic results in its financial statements. Entities wanted something that would better facilitate financial reporting that would

February 5, 2019