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By Brandi Fruik, CPA MST | Clark Nuber PS Our high net worth clients often want to get their children interested in finance and investing at a young age. Along with this desire comes setting up brokerage accounts, which may produce taxable income to the child. There are two different ways to report your child’s […]

By Brandi Fruik, CPA MST | Clark Nuber PS One of the most common questions I receive from clients, family, and friends is about dependents – and when to claim a dependent exemption. Whether it’s parents who are still caring for adult children, or children who are caring for elderly parents, there are many situations […]

Recap On August 18, 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-14 “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.” ASU 2016-14 requires a number of changes to the financial statements of NFPs.  This article is the tenth, and final, in a series discussing the changes required by ASU 2016-14. […]

Updated on March 7, 2017, to include the latest information on disclosures about the availability of financial assets. Recap On August 18, 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-14 “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.” ASU 2016-14 requires a number of changes to the financial statements of NFPs.  These […]

S Corporation shareholders should be aware, the IRS Large Business and International division (LB&I) has announced a new IRS Compliance Campaign. The campaign focuses on various issues, including S Corporation Losses Claimed in Excess of Basis. It has come about as a response to the IRS’s concern that S Corporation shareholders are claiming losses and deductions […]

Recap On August 18, 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-14 “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.” ASU 2016-14 requires a number of changes to the financial statements of NFPs. These changes will be effective for fiscal years beginning on or after December 15, 2017. This article […]

Recently, the Leading Edge Global Alliance (LEA) released its 2017 National Manufacturing Outlook and Insights Survey.  LEA, of which Clark Nuber is a founding member, is the second largest international association of CPA Firms in the world, creating a high-quality alliance of 220 firms focused on accounting, financial and business advisory services. To underscore the […]

Recap On August 18, 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-14 “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.” ASU 2016-14 requires a number of changes to the financial statements of NFPs. These changes will be effective for fiscal years beginning on or after December 15, 2017. This article […]

One requirement in the auditing standards is to ask our clients, point blank, if they are aware of any fraud within the company. This requirement is for all entities undergoing a financial statement audit, whether they are a large publicly traded corporation, a small family-owned business, or even a not-for-profit (NFP) organization. To me, the […]

Recap On August 18, 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-14 “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.”  ASU 2016-14 requires a number of changes to the financial statements of NFPs.  These changes will be effective for fiscal years beginning on or after December 15, 2017. This article […]

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Clark Nuber
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