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This article summarizes ASU 2018-08, which the Financial Accounting Standards Board recently issued to resolve for nonprofits’ revenue recognition issues. It covers the 2014 standard that gave rise to questions, explaining when grants should be characterized as reciprocal exchanges vs. contributions and defining conditional contributions.
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Tax reform has expanded availability of accounting methods Almost a year ago, the Tax Cuts and Jobs Act (TCJA) was signed into law. It may be best known for slashing corporate and individual income tax rates. But another change made by the act will have a big impact on many construction companies — particularly those…
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Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. September…
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Improper labor category classification under U.S. government time and materials (T&M) contracts can result in cost disallowance, investigation, fines — and even jail time.
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