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.
Throughout the 2018 filing season, New York State informed fiduciary filers that New York State did not decouple trust and estate fiduciary income tax returns for the provisions promulgated under the 2017 Tax Cuts and Jobs Act.
In a progressively complex financial landscape, corporations are facing a growing number of civil claims filed by shareholders and other stakeholders alleging financial fraud or misappropriation of assets or funds. In response, building a civil defense becomes much like a game of chess – a match of skill and strategy.
It is critical to analyze the decision of entity structure early in the lifecycle of a business. The Tax Cuts and Jobs Act (TCJA) reduced the top corporate income tax rate to a flat 21 percent from a maximum tax rate of 35 percent.
It was a hot summer day last year when New Jersey enacted sweeping, last-minute, budget balancing Corporate Business Tax (CBT) changes.
Are you a financial officer with a public company? Are you fascinated (or frustrated) by new pronouncements from the Financial Accounting Standards Board (FASB or Board)?