ASC 740: FASB proposes new income tax disclosures
On March 15, 2023, the Financial Accounting Standards Board (FASB) released a proposed Accounting Standards Updates (proposed ASU) that includes certain amendments to Income Taxes (Topic 740).
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What does SECURE 2.0 mean for small employers?
SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.
Taking action: What financial institutions can do in the wake of bank failures
Financial institutions need to understand what led to the recent failures of Silicon Valley Bank, Signature Bank of New York and Silvergate Bank so they can enhance their organizations’ risk management activities and meet increased regulatory expectations while also maintaining customer confidence.
The great deposit migration and emergency borrowing at the Fed discount window
In the past week alone, the Federal Reserve's loans outstanding to the financial system have ballooned to about $318 billion, up from $15 billion a week ago.
Bank Term Funding Program: Government response to the banking crisis
The Bank Term Funding Program gives small and midsize banks the chance to shore up their liquidity.
Initial jobless claims spike to highest level since December
New claims for jobless benefits last week came in hotter than expected at 211,000, significantly higher than the 190,000 of the previous week.
The new 2022 Schedule K-2 and K-3 filing exception for certain pass-through entities
The IRS announced a new filing exception for the 2022 tax year that allows domestic partnerships and S corporations to skip the completion and filing of Schedules K-2 and K-3 under certain circumstances. Read our article to learn more.
FASB votes to simplify accounting for common control leases
For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
Why adding children to your bank account or home deed could be a bad idea
Adding your kids to your bank account or home deed can create a host of legal, financial, and tax issues that can leave you and your loved ones vulnerable to significant risks and losses. Learn about the issues and alternative solutions to help you achieve your estate planning goals.
Proposed regulations on using forfeitures in retirement plans
Proposed regulations REG-122286-18, released Feb. 24, provide guidelines for plan administrators to use forfeited amounts in retirement plans.
Properly Funding Your Living Trust
Failing to properly fund a living trust is one of the most common errors people make and can lead to unintended consequences and added costs for both the individual and their beneficiaries. In this video, we'll provide an overview of how to properly fund a living trust.
R&E Expense Amortization Got You Down?
Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions and reduce taxable income. Here are three opportunities to potentially accelerate depreciation and reduce your tax liability.
January’s spending shows a hot economy despite rate hikes
The Fed’s key gauge of inflation—the personal consumption expenditures deflator—rose by 0.6% on the month for both the top-line and the core numbers, bringing the year-over-year inflation to 5.4% and 4.7% for the two series, respectively.
What would happen if the government defaults on its debt?
Policy brinksmanship over lifting the debt ceiling and the threat of default it brings is increasing the cost of doing business and carries far more risk than is commonly acknowledged.
The debt ceiling stand-off: Frequently asked questions
What exactly is the debt ceiling, and other frequently asked questions.
U.S. inventories are growing at twice the rate of sales
The surge in inventories raises the risk that firms will be caught with excess supplies just as demand begins to slow down this year.