Articles
IRS Appeals: How to Navigate the Process
The Office of Appeals (“Appeals”) is a unit of the IRS which is separate and independent of the IRS Tax Examination Division (“Examination”) which conducts tax audits.
Assessing the Merit of Grant Recipients: What Every Foundation Manager Should Know
Understanding the financial health of a prospective and/or a recurrent grant recipient is an essential function throughout the grant management process.
FASB Narrows the Definition of a Business
The Financial Accounting Standards Board (FASB or the Board) recently issued Business Combinations (Topic 805), Accounting Standards Update (ASU) 2017-01, Clarifying the Definition of a Business.
FASB Simplifies Measurement of Goodwill Impairment
Intangibles — Goodwill and Other (Topic 350), Accounting Standards Update (ASU) 2017-04, Simplifying the Test for Goodwill Impairment was recently issued by the Financial Accounting Standards Board (FASB or the Board).
Deal Synergies – Some Considerations
Part of any deal analysis includes the impact of synergies which, many times, becomes the prevailing reason to complete the deal in the first place.
Termination and Break-Up Fees
Most business sale/purchase agreements contain a termination agreement.
Planning Your Employee International Assignments
If your organization operates globally and selected employees are assigned to international locations on behalf of your company, you and these employees should be cognizant of the complexities of international tax requirements. Here is some information which may assist you in strategically handling such assignments.
Assessing Your Company’s Fraud Risk
Is cash flow tight? Could “trusted” employees be dipping their hands in the cookie jar? Over the past several months there has been an uptick of company management and frontline employees getting caught diverting funds for their own use.
Updated Consolidation Guidance for NFPs that are GPs/LPs in For-Profit Limited Partnerships
The Financial Accounting Standards Board (FASB or Board) has recently issued Accounting Standards Update (ASU) 2017-02, Not-for-Profit Entities—Consolidation (Subtopic 958-810)
Securing Your Electronic Personal and Financial Data
As part of the Security Awareness Tax Tips Program, the IRS, state taxing authorities and the tax industry have recently published some simple tips to better protect your personal and financial data online and at home.
The Private Foundation and Its Artwork
The flourishing contemporary art market paired with the tax benefits that accompany donations of highly appreciated assets have led to a significant increase in the number of private foundations encountering the complexities of valuing, accounting for and maintaining such works of art.