Business Owners

Best Practices for Businesses after a Disaster By Daniel Hughes, CPA/CFF/CGMA

Posted on August 14, 2017 by Daniel Hughes

As we deal with peak hurricane season, we are reminded once again of the importance of preparing for and responding to natural disasters in order to minimize losses and ensure long-term viability. The actions a business takes during the first few days following a loss can often determine the success of its recovery and settlement […]

First Steps to Tackling the New Model for Revenue Recognition by Christopher Cichoski, CPA

Posted on July 20, 2017 by Christopher Cichoski

Businesses large and small and across virtually all industries face a perfect storm of financial reporting compliance challenges to contend with in the coming months. On the near horizon are the new revenue recognition standards, which go into effect for public companies, employee benefit plans and certain not-for-profit entities beginning after Dec. 15, 2017, and […]

Partnerships Must Adapt to New IRS Audit Rules, Liabilities at the Entity Level

Posted on June 23, 2017 by Richard Berkowitz

For more than three decades, IRS partnership audits have operated under the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), which required individual partners to pay their share of a partnership’s tax underpayments identified in an IRS audit, unless the partnership elected to be taxed at the entity level. Since TEFRA’s enactment, partnerships have proliferated […]

Category: Business Owners