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IRS Provides Guidance on Parking Fringe Expenses and Unrelated Business Taxable Income, Penalty Relief to Tax-Exempt Organizations

December 10, 2018 The Internal Revenue Service recently issued interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after Dec. 31, 2017. The new rules assist taxpayers in determining the amount of parking expenses that are no longer tax deductible. They also help tax-exempt organizations determine how these nondeductible parking expenses create or increase unrelated business taxable income.

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Lease Accounting: Simplifying the Discount Rate Debacle

November 12, 2018 Discount rates are one of the new data points that need to be captured when implementing the new lease accounting standard. The guidance for non-public companies is more lenient than that for public companies, but it will require significant consideration as the adoption date quickly approaches.

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The Power of a #thankfulCPA

November 8, 2018 During this busy time of the year, when someone takes the time to say “Thank you!” that intentional expression of appreciation can be even more meaningful. Use these five easy steps to build a culture of appreciation at work.

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IRS Issues Tax Preparer Due Diligence Rules

November 7, 2018 The Treasury Department and the Internal Revenue Service recently issued final regulations expanding the long-standing paid preparer due diligence requirement to include individual income tax returns claiming the head of household filing status.

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