Blog
Oct
Time Running Out for New 100 Percent Depreciation Deduction
The Internal Revenue Service is reminding business taxpayers who placed qualifying property in service during 2017 but choose not to claim the new 100-percent depreciation deduction, that they have a limited time to file the required election with the IRS. …
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The Most Common Tax Extension Questions
This year alone an estimate of 14million tax payers have requested to file an extension on their income taxes. While the deadline to file 2018 individual tax returns has passed, here are the most common questions people ask: Can you …
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FASB simplifies accounting for cloud costs
This month FASB has issued a new standard that is designed to reduce difficulty for the accounting for costs of applying a cloud computing service procedure. The standard aligns the requirements for capitalizing implementation costs acquired in a hosting arrangement …
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The GASB proposes new concepts
GASB presents proposals for improvements to the financial reporting model. The proposals aim to make the model more effective in providing information necessary for decision-making and assessing a government’s accountability. The proposed improvements include: A short-term financial resources measurement focus …
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Basic fraud warning signs
Fraud will always be a constant concern. Here are some red flags that experienced forensic accountants look for. Living beyond your means Signs that employees are living well beyond their means can be a clue that they’re helping themselves to …
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