Learn the differences between Chapter 7 and Chapter 13 bankruptcy, as well as how to protect your assets prior to filing using irrevocable trusts.
Read MoreOne of the most difficult discussions between an audit firm and a client’s management team is often whether or not substantial doubt exists about the entity’s ability to be a “going concern.” In other words, will the company continue operating/meeting its obligations...
Read MoreUnderstand the basics about common trusts, including living, testamentary, simple and complex trusts.
Read MoreWhether this is the first time your real estate entity has needed a financial statement audit or review, or you have recently changed accounting firms after a long relationship, the thought of working through the audit or review process can create some stress, for sure. There are, however...
Read MoreThe “call” for simplification has been answered! We’re talking, of course, about an amendment to FASB’s Accounting Standard Update (ASU), Compensation–Stock Compensation (Topic 718). The amendment clarifies and illustrates when it is appropriate to account for...
Read MoreNOTE: As BOI regulations continue to evolve, please see our BOI Reporting Resource Center for the most up-to-date reporting deadline information. A recent ruling in a federal district court has changed the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting...
Read MoreIn response to the devastating natural disasters that began on August 24, 2023, in several Michigan counties, the IRS has granted tax deadline extensions to provide support and flexibility to individuals and businesses in the affected areas. Eligible taxpayers will have until June 17, 2024, to...
Read MoreNOTE: As BOI regulations continue to evolve, please see our BOI Reporting Resource Center for the most up-to-date reporting deadline information. Have you been asked to provide personal, confidential information for a Beneficial Ownership Information (BOI) report, as mandated under the federal...
Read MorePosted by Dan Conrad On January 1, 2024, Wisconsin Assembly Bill (AB) 245 went into effect, exempting business personal property from taxation. This means taxpayers no longer need to file the Personal Property Return, Form M-L and Form M-P, reporting the annual statement of their business...
Read MoreBeginning with tax year 2023, partnerships that sell or exchange partnership interests must report additional information to the IRS, both on Form 8308 “Report of a Sale or Exchange of Certain Partnership Interests” and on their Schedule K-1 disclosures. The additional information is...
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