Part of offering a defined contribution plan is making sure that the money participants contribute from their paycheck is deposited in their retirement account in a timely manner. While this might seem like a relatively minor and simple task, the Department of Labor views non-compliance with remittance rules as a major issue, and missing deadlines for deposits can carry significant penalties.
Taxpayers finally have guidelines from the IRS regarding the Section 199A deduction. In issuing the final regulations regarding qualified business income (QBI), the IRS provided clarifications about how taxpayers can demonstrate they qualify for the deduction. Additionally, the IRS issued proposed regulations regarding previously suspended losses.
More than a year after sweeping federal and state tax reform was enacted, businesses of all sizes are still wrapping their arms around the changes. This article discusses eight planning opportunities and considerations businesses should review as part of their 2019 strategy.
Time is running out, but it’s not too late for private companies to get set for the new revenue recognition standards. The FASB’s guidance is effective in 2019 for annual reporting periods, and in 2020 for interim periods. While this gives private companies a bit more time before they have to report under the new standard, the time to act is now.
In order to keep you current on Securities and Exchange Commission reporting developments, we are pleased to provide you with this newsletter – provided through our participation in BDO Alliance USA – that summarizes significant 2018 developments at the SEC.
The new limitation on excess business loss is designed primarily to restrict the ability of taxpayers to use business losses to offset other sources of income. The provision is effective for taxable years beginning after December 31, 2017, and before January 1, 2026.
Our 2018 year in review report – provided through our participation in BDO Alliance USA – summarizes the year’s most significant changes in guidance and what to expect in 2019. It also includes a comprehensive list of the effective dates for recently-issued accounting standards.
Over the past year, U.S. tech companies have been at the center of attention on a national and global stage. Whether it’s dealing with a growing number of regulations, or shoring up data privacy measures in response to heightened scrutiny, the industry now faces several critical questions. How the industry responds will dictate its fate in the years to come.
As part of the overall strategic plan and reevaluation of how inspections of public company audits are planned, conducted, and reported on, the PCAOB has released its objectives and potential focus areas for planned 2019 inspections of issuers and brokers and dealers. We encourage audit committees, management and auditors to review this alert.
Every entity that leases property, plant, or equipment will be affected by Topic 842 to some degree. Tech businesses can expect to experience a challenging transition, simply because they will have to comply with the new standard in addition to all the other regulations they’re already subject to.