Insights Center: 2025 Tax & Legislative Changes
Individuals, businesses and not-for-profit organizations are all affected by the new tax law – and we are ready to help. Start by staying informed; you’ll find our analyses of the new law’s many provisions here.
In July 2019, the Office of Management and Budget (OMB) released the final 2019 Compliance Supplement. The 2019 supplement is effective for Single Audits of fiscal years beginning after June 30, 2018. It supersedes the 2018 supplement.
Traditionally, private foundations have been associated with grant-making; however, foundations are also offered other alternatives to carry out their charitable mission and to meet distribution requirements.
The latest edition of the PKF International Worldwide Tax Guide for 2019/20 is now available for download.
The IRS has recently released a draft of a new form, Form 1099-NEC, which will be used to report payments for Nonemployee Compensation paid in 2020.
Cannabis companies need to be valued for many reasons. Funds need to report the value of their investments to their limited partners.
The U.S. Office of Budget and Management has released the 2019 Compliance Supplement, which comes with significant changes to the compliance requirements affecting colleges, universities and other higher education institutions that participate in the Student Financial Assistance programs provided by the Department of Education (DOE or Department), especially as it relates to reporting of single audit findings.
Doing nothing to protect your cyber infrastructure is not an option. This month’s edition of Cyber Roundup underscores the need for action. Contact Tom DeMayo with your cyber concerns.
Connecticut was once a tax haven. Those days are long gone. Now, it suffers from a branding problem. It is perceived as a state providing its constituents with one of the highest tax burdens in the country. According to some studies and pundits, this appears to be somewhat accurate. However, other findings show that it is more in the middle of the pack.
Grant-making is the heart of the private foundation industry and most commonly the largest expenditure. With grant‐giving in the billions of dollars annually, grant disbursements warrant proper due diligence. Due diligence has the potential to provide insight into critical attributes and the level of alignment between the Foundation’s mission and the goals of the grantee.
At its recent meeting, the Financial Accounting Standards Board (FASB) voted to issue a proposal that would delay the effective date for changes to accounting for leases for private companies, certain not-for-profits and small reporting companies.
Rhode Island has joined the ranks of states responding to the $10,000 federal limitation on the state and local tax (SALT) deduction that individuals can take on their federal income tax returns.
Recently, the AICPA released the first Statement on Standards for Forensic Services (SSFS). The statement was issued by the Forensic and Valuation Services Executive Committee of the AICPA (FVS Executive Committee).