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Tax Changes Letter

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The new tax reform law, commonly called the “Tax Cuts and Jobs Act” (TCJA), is the biggest federal tax law overhaul in 31 years, and it has both good and bad news for taxpayers.   Below are highlights of some of the most significant changes affecting individual and business taxpayers. Except where noted, these changes are…
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Are you Ready? FASB Issues New Guidance on Not-for-Profit Financial Reporting: What You Need To Know

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In August 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU 2016-14) in order to simplify the financial statements of non-profits. The new standard helps to improve the financial presentation of the non-profit’s financial statements as well as provide more transparency in the note disclosures. Effective Date: For annual financial statements…
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