Skip to main content

FASB Update (Topic 715-20)

On August 20, 2018 the FASB issued and Auditing Standard Update on "Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans". For information related to this update please see our briefing.

Our briefing

Popular posts from this blog

Tax Cuts and Jobs Act (TCJA) - Impact on Tax Exempt Organizations

The 2017 Tax Cuts and Jobs Act that was enacted late in 2017 made several changes to the tax laws affecting tax-exempt organizations, including a new Unrelated Business Taxable Income (“UBTI”) tax rate at a flat 21% for any UBTI over the $1,000 standard deduction.  Caution:  These changes will make some nonprofit organizations pay federal tax that have never been taxpayers in the past.

For more information see our client bulletin:

Bulletin

Preventing business identity theft: 5 tips

Identity theft isn’t just a consumer problem. Criminals steal the identities of businesses, too. In addition to filing fraudulent tax returns, criminals assume the identities of companies to apply for credit, impersonate authorized users and empty bank accounts. Here are five ways you can reduce the chance it will happen to your business.

1. Protect confidential documents

Secure sensitive paper documents such as financial statements, invoices, bank statements and aging schedules in locked file cabinets. Store digital files in secure, password-protected locations.

2. Shred documents you no longer need

When you no longer need sensitive paper documents, destroy them using a cross-cutting shredder. If you need to shred a significant volume of paper, hire a service to destroy documents on your premises.

3. Don’t drop your guard online

Thieves use malware to infect computers and gather sensitive data. They also create fake websites that trick employees into entering login and password i…