GASB Issues Guidance for Subscription-based IT Arrangements
The GASB recently issued guidance on the accounting for subscription-based information technology arrangements.
Emerging Trends for Financial Institutions Related to COVID-19
Since the World Health Organization declared COVID-19 a global pandemic, scammers are taking advantage of financial institutions. (authored by RSM US LLP)
Changes to Not-for-Profit Reporting Requirements of In-Kind Contributions
When it comes to charitable donations, cash might be king, but in-kind contributions play a vital role, too. Donated services and tangible or intangible goods can be sources of revenue and cost savings.
Remote work is chance for family offices to upgrade technology systems
The shift toward remote work is an opportunity for family offices to upgrade technological systems by adopting outsourcing and automation.
Like-Kind Exchanges and Installment Sales
When business owners have divergent goals, Section 1031 contains several provisions for like-kind exchanges and installment sales that can be used to satisfy all parties involved. Proactive tax planning can minimize and delay taxes due while allowing members to pursue their desired outcome.
Is your outsourcing provider right for your business?
Choosing the right outsourcing provider is not easy. Make sure you've made the right choice with RSM's ideal outsourcing provider checklist.
Business Interest Limitation Affects More Businesses
One recently overlooked item of the Tax Cuts and Jobs Act for companies involved with a syndicate or tax shelter is business interest expense limitation. Don’t be caught off guard. Proper planning and reporting can help preserve your current year deduction.
Allocating General and Administrative Costs to Your Advantage
The government cannot dictate the number of indirect rates you have or how you apply them but they can cite you for non-compliance in the allocation of your indirect costs. Learn how best to allocate your costs based on the type of expense.
New Revenue Recognition Standards are Now Effective
Everything has changed with FASB’s new revenue recognition standards and it’s time for all remaining organizations to implement the new revenue recognition standards that originated in May 2014.
Avoid Costly State Use and Sales Tax Mistakes
Many businesses find themselves purchasing a significant amount of supplies and equipment online. However, chances are your business does not have a policy in place to identify online purchases where sales tax has not been paid at the time of purchase and remits use tax on these items.