On February 25, 2016, the Financial Accounting Standards Board (FASB) issued its new lease accounting guidance in Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). The ASU will require organizations that lease assets to [...]
Today it’s becoming more common to work from home. But just because you have a home office space doesn’t mean you can deduct expenses associated with it. Eligibility Requirements If you’re an employee, your use [...]
The Institute of Internal Auditors (IIA) recently released a report which examines outsourcing of internal audit activity. Over 50% of North American companies participating in the survey use third parties to support their internal audit [...]
...But Should They? Bonus depreciation allows businesses to recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The Protecting Americans from Tax Hikes Act of 2015 (the PATH [...]
The U.S. and international economies are becoming more competitive every day. Many of us are competing for the same workforce; for others it may be the same customer, but we have to ensure that we [...]
If you’re like many Americans, you may not start thinking about filing your tax return until the April 15 deadline (this year, April 18) is just a few weeks — or perhaps even just a [...]
The Energy Policy Act of 2005 was enacted to provide immediate tax savings opportunities for energy efficient improvements. For commercial buildings, the Energy Policy Act of 2005 allows for a tax deduction of up to $1.80 [...]
The 2015 1099-MISC forms must be provided to recipients by February 1, 2016 per the IRS. The forms are due to the IRS by February 29, 2016 for paper returns or March 31, 2016 for electronic [...]
You may have been interested in or may have contributed to funding campaigns on sites such as Kickstarter. There are a number of fundamental issues relating to crowdfunding – is your payment a gift to the [...]
Congress finally passed an extenders package that includes some key tax provisions that go beyond 2015. While there are numerous provisions, the ones we are frequently asked about include: Section 179 deduction for up to $500,000 of [...]
