A majority of the reform included in The Tax Cut and Jobs act of 2017 won’t be seen by taxpayers and corporations until filing of 2018 returns begin. One major exception to that is the “transition tax” for repatriated earnings, which applies to U.S. corporations and individuals who own at least 10 percent of the […]
Plan for the new revenue recognition accounting standard now
A new accounting standard affecting revenue recognition from contracts with customers looms and requires implementation by public companies, private companies and not-for-profit organizations.
Update on Tax Reform
The Tax Cuts and Jobs Act passed both the House and Senate on December 20th and is expected to be signed by the President in the upcoming weeks. There are substantial changes for both businesses and individuals. The following summary highlights some of the key changes.