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Hooper Explains the Impact of Tax Reform at 2018 Trucking Association of New York Conference

Posted 7:04 PM by
Katz, Sapper & Miller’s Randy Hooper will present at the 2018 Trucking Association of New York (TANY) Conference & Membership Meeting. Taking place Sept. 24-26, 2018 in Clayton, NY, the conference will feature presentations by accounting, legal, political, and technology professionals to address top issues facing the transportation industry.
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Principal Versus Agent: Which Are You?

Posted 5:00 PM by
The Financial Accounting Standards Board (FASB) has implemented one of the most extensive changes to revenue recognition standards in its history with the issuance of Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. As entities address and apply the standard’s provisions, one key element they must determine is how to report their revenues. Entities can report revenue at the gross amount of consideration they expect to receive (with associated fees presented as a cost) or on a net basis, which is the gross amount of consideration less any fee or commission directly related to the obligations.
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IRS Issues Guidance on 20 Percent Pass-Through Deduction

Posted 6:55 PM by
It took a little over eight months, but the IRS has issued much-anticipated proposed regulations regarding the 20 percent pass-through deduction provided under Section 199A. The 184 pages of proposed regulations provide answers to some, but not all, of the questions considered since the Tax Cuts and Jobs Act (TCJA) was signed into law on Dec. 22, 2017. Since TCJA was enacted, tax advisors have counseled clients to 'stand your ground' and refrain from any radical structure modifications in response to the new provision. Those that heeded this advice will likely be thankful they did.
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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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