Artificial Intelligence (AI) is like that shiny new gadget we can't wait to get our hands on. It's exciting, it's transformative — a true game-changer. However, much like any powerful tool, behind AI’s luster there are challenges. And for responsible companies, being aware...
Read MoreAs a registered investment adviser (RIA) managing a private fund, it’s crucial to navigate regulatory requirements effectively, including the question of whether or not you need a financial statement audit. While audits can be a valuable tool for transparency and accountability, they also...
Read MoreAs a business owner, you’ve likely dedicated a significant portion of your life nurturing and growing your business into a success. And now, regardless of the reason — and there are plenty — it’s time to sell. What are your next steps? What are the best practices to...
Read MoreArtificial intelligence — are there any two words that evoke more excitement and fear in today’s business environment? Experts predict artificial intelligence (AI) will either be the most transformative technology in the history of mankind or will lead to our demise. Ultimately, the...
Read MoreEarlier this summer the IRS issued final regulations on information reporting requirements for digital assets, including determining amount realized and basis allocations. At the same time, the regulatory body also provided safe harbor relief for taxpayers to substantiate their basis allocations...
Read MoreWhether this is your first fund, or this is your first private fund exclusively invested in real estate, your investors will want relevant information when it comes to the fund’s value. However, historical reporting methods, such as accounting principles generally accepted in the United...
Read MoreBusinesses continually look for ways to improve their processes and streamline operations, giving them a competitive edge in their industry. Technology plays an important role, with organizations looking to either buy or develop software that can help them achieve critical efficiencies.But how do...
Read MoreOn June 7, 2023, Illinois Governor J.B. Pritzker signed into law Senate Bill 1963, significantly changing the state’s qualified investment partnership provisions. Specifically, the law modifies the definition of “investment partnership” and “qualifying investment...
Read MoreOn April 25, 2024, the Treasury Department released final regulations under Internal Revenue Code Section 6418, providing clarity regarding the transfer and sale of certain tax credits by, or on behalf of, a Real Estate Investment Trust (REIT). The overview below illustrates how these...
Read MoreIt was my pleasure to serve as editor of this year’s AICPA Tax Adviser August Tax Clinic, a special section our firm has been honored to oversee and contribute to for decades under my colleague Tony Bakale.With the passing of this torch, I was excited to be entrusted with delivering...
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