Over the past few years more and more companies are becoming familiar with the new Service Organization Control audits. This audit (sometimes referred to by its AICPA standard “SSAE 16” which replaces the dated SAS 70 standard) is a more detailed analysis of a company’s internal controls and processes, depending
In early August 2016, the IRS released proposed regulations regarding the valuation of interests in family-controlled entities. Specifically, the Proposed “2704” Regulations focus on the elimination of most discounts when ownership interests are transferred between family members. Aside from that, let’s not forget that it’s an election year! Leading
The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update 2016-14, providing changes to the financial reporting framework for not-for-profit organizations. This is the first major revision in over 20 years and aims to provide more transparency and improve comparability among Not-for-Profit Organizations (NPOs). The major provisions from this
After deliberating for a decade, in the case G.H. Bartell, Jr. Est., U.S. Tax Court (August 11, 2016), the Tax Court has held that an intermediary with no benefits or burdens of ownership can hold title to real property outside of the established IRS “reverse” 1031 Exchange safe harbor without
Many distributors are looking for ways to increase client satisfaction while also managing costs associated with their supply chain. One of the best ways that a distributor can accomplish the two is by working toward making sure all orders are “Perfect Orders”, and measuring what the perfect order rate is.
Friday, August 5th marks the beginning of a one-time sales tax holiday in Ohio, and you can save between 6.5% and 8% in state and county sales tax. The holiday begins on Friday, August 5, 2016 at midnight and concludes on Sunday, August 7, 2016 at 11:59pm. During the period,