Tax

Taking distributions from your traditional IRA

If you’re like many people, you’ve worked hard to accumulate a large nest egg in your traditional IRA (including a…

Expanding Retirement Plan Options for Small Businesses

Clarifying the Rules Existing DOL rules already allow MEPs to exist. And the new rule, which goes into effect on…

Update on the New Business Interest Expense Limitation

The Tax Cuts and Jobs Act (TCJA) imposes a new limitation on deductions for business interest expense. The IRS recently…

The Clock May Be Ticking on Corporate Stock Redemptions

Favorable individual federal income tax rates established by the Tax Cuts and Jobs Act (TCJA) are scheduled to expire at…

What to expect during a franchise audit

It’s important for franchisors to periodically audit individual franchisees. These routine “check-ups” are especially valuable in a store’s early years…

FAQs about CAMs

In July, the Public Company Accounting Oversight Board (PCAOB) published two guides to help clarify a new rule that requires…

Reporting Discontinued Operations

Financial reporting generally focuses on the results of continuing operations. But sometimes businesses sell (or retire) a product line, asset…

The tax implications of being a winner

If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to…

Volunteering for charity: Do you get a tax break?

If you’re a volunteer who works for charity, you may be entitled to some tax breaks if you itemize deductions…

Why do companies restate financial results?

Every year, research firm Audit Analytics publishes a study about financial restatement trends. In 2018, the number of public companies…