Blog Archives: 2019

FASB Proposes Delay to Effective Date of Leases Standard

The FASB has taken the next step in formally delaying the effective date of the Leases standard.  They are also delaying the effective date for two other new ASUs that impact credit loss accounting and the accounting for derivatives/hedges. A recent FASB News Alert was issued, noting that the FASB has issued an ASU exposure […]

Qualified Business Income (QBI) Deduction Update

For tax years 2018 through 2025, individuals, trusts and estates can get a 20% deduction of Qualified Business Income (QBI) from sole proprietorships, S corporations and partnerships subject to certain limitations. In general, all business income/loss qualifies for the deduction with the following exceptions and limitations: It does not include employee wages, capital gains/losses, interest, […]

Is Your Monthly Close Practice Working for You?

As an executive, if you don’t receive accurate and timely end-of-month financial reports, your business could suffer in a multitude of ways: You’ll be unable to identify errors in a timely manner, allowing the inaccuracies to balloon. Year-end reporting will take longer than necessary. Fraud is more difficult to detect. And, you’ll lose the ability […]

Quality of Earnings Report – Three Frequently Asked Questions

Last year, I wrote an article about the activity around quality of earnings (QoE) reports for M&A activity. To recap, a QoE report is a detailed analysis of all the components of a company’s earnings and the degree to which both cash and non-cash earnings, based on measurement and estimates, are subject to change. They […]

Washington Department of Revenue Annual Tax Incentive Reports and Surveys – Due May 31st

Taxpayers taking advantage of any one of the available State of Washington tax incentives – including tax deferrals, reduced B&O tax rates, exemptions, and credits – may be required to file an Annual Report or Annual Survey. Some incentives require that both the report and the survey be filed, while other programs do not have […]

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