Posts from November, 2017

  • What You Should Know About the New Lease Accounting Rules (ASU 2016-02 Leases - Topic 842) As noted in recent reports , current US Generally Accepted Accounting Principles (GAAP) as prescribed by Accounting Standards Codification (ASC 840) focuses on whether the lease transfers substantially all of the risks and rewards of ownership. The new guidance, codified as ... Continue Reading
  • What You Need to Know About The “New Tax Reform Framework” On September 27, 2017, the Trump Administration and select Republican members of Congress released a “unified framework” for tax reform. The document provides more detail than a number of other tax reform documents that have emerged from the Administration over the past few ... Continue Reading
  • Update to IRS Scams As the IRS has noted in its alerts to the public, a variety of different tax scams continue to rob people of millions of dollars and trick them into handing over sensitive personal information. Scammers use the regular mail, telephone, fax or email to set up their victims. ... Continue Reading
  • Should I Wait Before Collecting Social Security Benefits? The decision of when to draw social security benefits can have a lifelong impact on one’s ability to have sufficient enough funds to afford retirement. For too many retirees, an insufficient social security nest egg is all they have. Waiting to collect social security ... Continue Reading