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Dissecting the New Revenue Recognition Guidance: Step 2 of the Five-Step Framework

Posted 2:00 PM by
Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, as amended, creates a five-step framework for entities to determine when and how much revenue should be recognized. The first article in the ‘Dissecting the New Revenue Recognition Guidance’ series discusses step 1, identifying the contract(s) with customers. This article focuses on step 2, identifying the performance obligations in the contract.
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Startup Companies: Can the R&D Payroll Tax Credit Help You?

Posted 3:00 PM by
For many startup companies, the first several years of business can be a period of heavy research and development (R&D) activity, as the founders work to bring the business’ products or processes to market. Unfortunately, this period is also often marked by heavy expenses and minimal revenue, resulting in operating losses for the company. Even the most successful startup business may take several years before it is able to finally show a net taxable profit.
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Implementing Revenue Recognition for Your Private Company

Posted 6:45 PM by
Implementation of the new revenue recognition standard, Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, is almost here. For a private company, the standard will go into effect for calendar years beginning after Dec. 15, 2018. As such, companies should begin assessing now the impact of the new guidance.
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New Investment Vehicle Created by the Tax Cuts and Jobs Act

Posted 2:30 PM by
In an effort to boost development in economically distressed communities, many federal incentive programs have been created over the years, such as the New Market Tax Credit, Empowerment Zones, Renewal Communities, and more. The Tax Cuts and Jobs Act (TCJA) of 2017 has created yet another incentive to invest in these areas, and the potential tax benefits are significant.
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Healthcare and Tax Reform: What We Know Now

Posted 6:45 PM by
Since the Tax Cuts and Jobs Act (TCJA) was signed into law seven months ago, many healthcare professionals have been wondering how the new law will impact the industry and what steps they should take now to prepare. Though the Internal Revenue Service (IRS) is still issuing guidance on the new law, this article summarizes the key provisions and the implications for those practicing in the healthcare industry.
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New York State & Local Tax Update: July 2018

Posted 6:00 PM by
Businesses subject to New York City’s Commercial Rent Tax (CRT) will now be able to claim the new CRT credit on their June 1, 2018–May 31, 2019 tax return.
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Eberly to Serve as Featured Panelist at 2018 IWL Women’s Leadership Conference

Posted 8:20 PM by
Katz, Sapper & Miller’s Erin Eberly will join Maggie Daniels of Roche Diagnostics and Nancy Gutwein of High Alpha as a panelist at the ninth annual Integrating Woman Leaders (IWL) Women’s Leadership Conference on Aug. 28 in Indianapolis, IN.
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Scott to Present at Georgia VMA Veterinary Business 101 Event

Posted 1:40 PM by
Katz, Sapper & Miller’s Beth Scott, a director in the firm’s Veterinary Services Group, will present at Georgia Veterinary Medical Association’s (GVMA) Veterinary Business 101 event Aug. 5 in Atlanta, GA.
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'Grow Your Restaurant' Podcast: Matthew Mabel of Surrender

Posted 7:45 PM by
In this episode, Matthew Mabel, founder of Surrender, joins us to discuss restaurant branding, promoting from within versus importing external talent, the hardest positions to fill in your restaurant, and more.
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Indiana to Implement Heavy Equipment Excise Tax in 2019

Posted 6:40 PM by
Effective Jan. 1, 2019, Indiana will implement a new excise tax on the rental of heavy equipment from a location in Indiana. The rental excise tax is 2.25 percent of the gross retail rental income. The renter is liable for the tax, and it will be collected by the retail merchant and sourced to the location from which the equipment is rented. The tax may be reported in the same manner used to report the retail merchant’s Indiana sales and use tax (INTax).
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