Virginia recently adopted economic nexus thresholds for sales and use tax collection purposes, while North Dakota and Washington amended their existing rules. Other states simply codified their existing regulations or administrative guidance.
Up until now, financial statement preparers have had some leeway regarding the value of their company’s return on investments in equity securities. Typically, these securities were designated as “available for sale” with the corresponding gains or losses on the fair value of those securities recorded through other comprehensive income. Now that has all changed.
As a positive first step in addressing the 2017 tax reform drafting error involving qualified improvement property, bipartisan legislation was introduced in March that would correct this drafting error and make it effective as if it had been apart of the original 2017 tax reform act.
As plan sponsors outline their strategies for the year, we have identified several trends that are shaping the employee benefits landscape and creating opportunities for employers to implement best practices to meet the needs of their workforces.
An update to ASC 715 incorporating new pension accounting standards will impact the way plan sponsors approach the recognition of pension liability settlements. Although these accounting standard changes will impact all pension plan sponsors, the focus of this article is on the treatment of additional pension costs resulting from pension risk transfer activities.
Surprises are rarely good. There are many different emotions that come with the experience of surprise: fear, anxiety, and joy—to name a few. Deals can also cause the same emotions for a deal maker. The following are a few stories and some suggestions on how to avoid unpleasant surprises.
On February 15, Virginia Governor Ralph Northam signed House Bill 2529. The bill includes an emergency clause that updates the Commonwealth’s conformity to the Internal Revenue Code in effect on February 9, 2018, to the IRC “as [it] existed on” December 31, 2018.
Software company founders and CEOs often get inquiries from private equity (PE) firms interested in striking a deal to acquire or invest in their company. Depending on the offer, this could be the perfect opportunity to take their company to the next level or to achieve an optimal exit. But how can they recognize such an opportunity? The answer to that question is, in part, what this article aims to provide.
Is additional spending for legal and accounting fees post transaction worth resolving a working capital disagreement? How about the disruptive impact of management distractions and the related cost of a working capital dispute on operations? Buyers and sellers can avoid these potential challenges by performing a comprehensive net working capital analysis prior to closing a transaction.
The last thing taxpayers expected following sweeping tax reform was to receive lower refunds than they had in the past. In fact, some are discovering that instead of a refund they owe the federal government. So what went wrong?