Articles
New York Combined Return Rules Begin to Gain Clarity
In the last 30 years, perhaps the most contentious New York corporate tax issue centered on which entities should be included in a New York combined return.
The Five Pillars of Family Office Success
By Gemma Leddy, CPA Anyone close to the family office world knows the operational landscape has changed dramatically over the last […]
Due Diligence: Four Questions to Make Smarter Acquisitions
Private equity firms, lenders, lawyers and other interested parties conduct due diligence to kick the tires on a potential transaction or target acquisition.
990-PF: Avoiding Some Common Pitfalls
With the closing of the calendar year, the focus of many private foundations shifts toward the planning and preparation of Form 990-PF, Return of Private Foundation.
Guidelines for Substantiating Hardship Distributions from a 401(k) Plan
According to current guidelines, 401(k) plans may provide that an employee can receive a distribution of his or her elective contributions due to a financial hardship arising from certain events such as medical bills, tuition payments or purchase of a principal residence.
IRS to Issue Advisory and Opinion Letters for 403(b) Plans
According to the IRS, opinion and advisory letters (i.e., for prototype and volume submitter type of plans, respectively) are expected to be issued for 403(b) plans in the second quarter of 2017.
The New Partnership Tax Audit Rules: Are You Prepared for Change in 2018?
A major shift has occurred in how the IRS will handle partnership tax examinations in the future. The IRS has created new centralized procedures for the audit, assessment, and collection of tax.
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.