Visit our page dedicated to providing resources that will help you better understand Beneficial Ownership Information (BOI) requirements and how you can most efficiently comply.
Learn MoreThe Financial Accounting Standards Board has released ASU 2018-08 to provide more guidance on when transactions are contributions versus exchange transactions.
Read MoreStay-at-home orders sparked by the COVID-19 pandemic have resulted in mass business closures, hence, leading to dramatic reductions in state tax revenue. While the full financial impact will not be known for months or even years, we do know that state budget shortfalls are projected to be in the...
Read MoreEach year, thousands of businesses in the United States file for bankruptcy for a variety of reasons. In some cases, the process provides breathing room from creditor payment demands, buying more time to reorganize the enterprise into a more economically feasible structure for the future. In other...
Read MoreParticipants in the Qualified Opportunity (QO) Zone Program were provided with much needed relief on June 4, 2020, when Treasury issued Notice 2020-39. This notice clarifies relief provided under Section 7508A for QO Zone Funds and their investors in response to the COVID-19 pandemic, and addresses...
Read MoreWednesday evening, the Senate unanimously passed legislation that was passed in the House last week 417 to 1. This legislation is expected to be signed by the president today. It will allow more flexibility for businesses that have borrowed (or will borrow) under the Payroll Protection Program...
Read MoreIn this installment of our “Business Intel” series — helping you monitor, understand and maximize your organization’s liquidity and cash management processes — we offer insights into the technical and reporting differences between net revenue, gross profit and net income. As we’ve learned...
Read MoreYour organization may have received a loan under the Paycheck Protection Program (PPP). Now that you have begun expending those funds, you may be wondering the appropriate way to account for them. Unlike for-profit entities currently, not-for-profit accounting already has clear guidance in place on...
Read MoreTwo recent regulatory changes — Private Funds Law 2020 and Mutual Funds (Amendment) Law 2020 — will require previously exempt Cayman Islands funds to now register with the Cayman Islands Monetary Authority (CIMA). While the changes will require affected funds to expend more time, cost and resources...
Read MoreProfits interest awards are a flexible type of equity compensation used by limited liability companies (LLCs) and partnerships to incentivize exceptional performance. The Private Company Council (PCC) plans to meet in the coming months to discuss ways to simplify the accounting rules that apply to...
Read MoreIn this installment of our “Business Intel” series — helping you monitor, understand and maximize your organization’s liquidity and cash management processes — we provide insights on how to make your debt instruments work for you. As we continue to face disruption while making our way through...
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