Insights

Revenue Recognition

The new Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers, fundamentally changes how companies across nearly every industry will recognize revenue. Learn more about how this affects you and your business as well as what’s required and the effective dates.

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Combining technical expertise with our keen understanding of our clients' businesses, we offer knowledgeable commentary on a broad spectrum of accounting, tax, finance, and business operations issues.

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Article
Few business transactions are as complex as those involving auto dealerships. In this Insight, we examine a few of the unexpected but common pain points buyers and sellers encounter during the process.

Alert
North Carolina tax legislation imposed a new filing requirement related to sales and apportionment data on certain C and S corporations. This one-page form is due April 15, 2016, with no extensions and a $5,000 late-filing penalty.

Article
Wineries and vineyards have a number of tax-planning opportunities available to them—from accounting method elections to domestic international sales corporations, farming income averaging, and more. Learn more in this Insight.

Article
Proposed Oregon Initiative Petition 28 would impose an unlimited gross receipts tax on C corporations with Oregon sales of more than $25 million. If passed, this tax would have significant ramifications for businesses and residents in Oregon.

Article
Depletion methods are an effective tool to defer taxes and increase cash flow for timber companies that have recently purchased timberland, plan to make investments in timberland ownership, or have timberland holdings that produce taxable income.

Article
Deficiencies can bring the audit or compliance process to a standstill and create tension among management, the audit committee, and external stakeholders. Fortunately, many of the most common deficiencies—we’ve identified 10—can be avoided.

Alert
New FASB guidance enhances the reporting model for financial instruments in hopes of making information more useful to financial statement users. FASB reporters should evaluate the potential impact and potential benefits of early adoption.

Alert
The PATH Act makes many popular business tax breaks permanent while extending others through 2016 or 2019. We look at some of the provisions that may produce significant tax savings for businesses in 2015 and beyond.

Alert
The new tax extender law makes quite a few tax breaks permanent while enhancing others. This Alert details some of these changes, including education credits, transit benefits, mortgage-related deductions, and more.

Article
Charitable gifts made before year-end can provide a valuable deduction against your 2015 taxes. As the year winds down, consider gifting options beyond your checkbook to increase the tax efficiency of your gifts.

Article
Mergers and acquisitions for the US wine industry by China-based investors have been slow to take off. This is in part because of the Chinese domestic economy, but it’s also due to a cultural divide between how the East and West conduct business.

Article
Will you meet your minimum distribution requirement this year? Can you carry net operating losses over from previous years? How can you reduce the tax rate on net investment income? Our year-end guide addresses all this and more.

Article
Interest-charge domestic international sales corporations have waned now that the tax rate on qualified dividends has increased. But combined with an accounts receivable factoring arrangement, they still deliver substantial tax benefits.

Article
Private foundations need to be wary of transactions that could constitute self-dealing, since they can result in hefty excise taxes and other ramifications. Marisa Meltebeke of the law firm Davis Wright Tremaine LLP provides a legal perspective.

Article
An employee stock ownership plan (ESOP) motivates, retains, and rewards employees who help make a business successful. It serves as a great exit strategy with some fantastic tax benefits, but it’s also a retirement benefit for your employees.

Alert
Effective July 1, 2015, business entities with Nevada annual gross revenue in excess of $4 million are subject to a new commerce tax that Governor Brian Sandoval signed into law in early June.

Alert
A Washington Court of Appeals decision affects two types of sales, along with final delivery, by an out-of-state taxpayer with some Washington activities not related to processing or shipping orders. Dissociation also is no longer applicable.

Article
Companies that provide cloud computing services or software as a service must sort through a tangle of state tax laws and definitions to determine whether their transactions with customers in the state are subject to sales and use tax.

Article
Technology companies hoping to get in on the M&A boom will want to first maximize their valuations. We look at some of the complex areas where tech companies’ tax assets and liabilities can impact value.

Article
Tax-exempt organizations often operate gift shops as a part of their ongoing operations, raising questions on whether that income constitutes unrelated business income, which would be subject to income tax despite the organization’s status. We look at the issue in detail in this Insight.

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