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 response to the extensive changes made by the Tax Cuts and Jobs Act (TCJA), many taxpayers may have been unable to accurately calculate their estimated tax requirements for 2018.
As we begin a new year, the focus of many private foundation managers will now shift from day-to-day operations and bookkeeping to the preparation of the foundation’s publicly disclosed Form 990-PF, Return of Private Foundation.
The Auditing Standards Board (ASB) last year released Statement on Auditing Standards (SAS) No. 133, Auditor Involvement with Exempt Offering Documents. This SAS addresses the auditor’s responsibilities when the auditor’s report on the financial statements is included, or incorporated by reference, in an exempt offering document, such as for municipal bond offerings, AND the auditor is considered “involved” in such exempt offering document.
The Tax Cuts and Jobs Act (TCJA) made several changes to the tax laws affecting tax exempt organizations, including the reporting and taxation of unrelated business taxable income (UBTI).
The hopes of foundation managers for tax reform of the net investment income excise tax were again dashed when Congress late last year failed to enact the proposed simplification of the excise tax to a flat tax of 1.4%
Not-for-profit organizations with calendar year-ends are required to implement the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities for the year ended December 31, 2018.
Blockchain is an emerging technology that could revolutionize business.
Welcome again to the month’s multifaceted world of cyber criminality. Precipitated by spoofing, spamming, sniffing, sandboxing, phishing, spyware, ransomware, adware, etc., the results are an almost infinite number and variety of cyber crime.
The Financial Accounting Standards Board (FASB or Board) recently issued Accounting Standards Update (ASU) No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220).