Insights
FASB Seeks Public Company Input on Segment Reporting Study
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)?
Form 990-PF: Direct Charitable Activities
What is considered a direct charitable activity? We are often asked this question by our clients and friends.
Roth IRA Conversions in the Current Tax and Market Environment
While it might seem counterintuitive to accelerate income into any tax year, a combination of President Trump’s temporary individual tax cuts and the stock market’s seesaw movement creates an opportunity to revisit Roth IRA conversions.
Changes on the Horizon for NYS Property Tax STAR Exemption Program
New York State (NYS) currently ranks third highest among the states in property tax collection. On average – according to one source – it collects nearly $7,000 per home.
Cyber Roundup – June 2019
Sometimes “sound bites” help us to remember actions we need to take. With this edition of Cyber Roundup, some readers might consider the following statements made in this issue as good advice which, if heeded, can help to secure your cyber peace of mind.
Bipartisan Retirement Planning Changes Are on the Horizon
There is a group of bipartisan leaders in the House and Senate that is focused on making retirement plans and planning for retirement easier for employees and less costly for employers.
IRS Rev. Proc. 2019-19: Easier Correction Process for Retirement Plans
In Revenue Procedure 2019-19, the Internal Revenue Service (IRS) issued guidance that increases the availability of retirement plan sponsors to correct certain plan documents and plan loan failures through the IRS Self-Correction Program (SCP).
Spotlight on Yellow Book Revisions
The U.S. Government Accountability Office (GAO) issued revisions to generally accepted government auditing standards (GAGAS) in July 2018.
SEC Issues Proposed Amendments
The Securities and Exchange Commission (SEC) recently issued two proposed amendments. Both proposals are subject to a 60-day comment period following their respective publication in the Federal Register.
Defining Disqualified Persons of Private Foundations
Recently, we received certain inquiries on the definition of “disqualified persons” at a foundation. In connection therewith, we hope this bulletin will serve as a reference defining a disqualified person and helping to ensure that self-dealing at the private foundation does not occur.
Post the TCJA: Lifetime Gifting
As part of the extensive changes made by the Tax Cuts and Jobs Act (TCJA), often overlooked are the increased lifetime gift, estate and generation-skipping transfer (GST) tax exemptions.
Reviewing and Updating the Fiscal Policies and Procedures Manual
By Gus Saliba, CPA, Partner A charter school’s Fiscal Policies and Procedures Manual (FPPM) provides management and the board of trustees […]