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Learn MoreSince its implementation on January 1, 2019, the FASB Accounting Standards Codification (ASC) 606 has significantly impacted how privately owned software and Software-as-a-Service (SaaS) companies recognize revenue. Six years later, in 2025, these businesses continue to grapple with the complexities...
Read MoreIn June of 2024 the Supreme Court unanimously decided in Connelly v. United States that a corporation’s contractual obligation to redeem shares is not necessarily a liability that reduces a corporation’s value for purposes of the federal estate tax. Further, the Court stated that the value of a...
Read MoreAs we near the end of 2024 and look ahead to 2025 and the years to come, it is more important than ever to be thinking strategically about tax planning, particularly as we are still uncertain about the fate of the many provisions of the Tax Cuts and Jobs Act (TCJA) of 2017. Below are important...
Read MorePosted by Jen Baker, Ariel Chester and Jonathan Williamson With 2024 coming to a close, it is time to shift gears to focus on wrapping up 2024 tax items and planning for 2025. Now is a perfect time for your real estate or private equity fund to complete any necessary maintenance, as well as a bit...
Read MorePosted by Jake Biondo and Colin McLaughlin One of the most important aspects of managing and advising investment funds is to protect those who invest in your fund. This includes providing them with timely audited financial statements to assist them in making critical investment decisions and...
Read MoreDespite the recently concluded political elections, taxpayers continue to have uncertainty regarding potential future tax changes. The impact of these elections, the potential sunset of many individual provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) and a more aggressive tax enforcement...
Read MoreGoing through a financial statement audit can sound like a daunting task, especially if your company has never been audited before. Why are we being audited? What does the process entail? What do we do once the audit is complete? These are all valid and common questions asked by first-time...
Read MoreAn underlying theme in year-end tax planning for high-net-worth individuals last year was planning around the impending sunset of the 2017 Tax Cuts and Jobs Act (TCJA). That theme continues this year, albeit with even more uncertainty. The election of former President Donald Trump along with a...
Read MoreArtificial Intelligence (AI) is like that shiny new gadget we can't wait to get our hands on. It's exciting, it's transformative — a true game-changer. However, much like any powerful tool, behind AI’s luster there are challenges. And for responsible companies, being aware of these risks is not just...
Read MoreAs a registered investment adviser (RIA) managing a private fund, it’s crucial to navigate regulatory requirements effectively, including the question of whether or not you need a financial statement audit. While audits can be a valuable tool for transparency and accountability, they also represent...
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