One Bourbon, One Scotch, One U.S. Craft Beverage Modernization and Tax Reform Subpart

New ASU Simplifies VIE Disclosure

On October 31, 2018, the Financial Accounting Standards Board (FASB) released an Accounting Standards Update (ASU) which simplified variable interest entity disclosure requirements for private companies. All private companies with VIE consideration should be aware of...
One Bourbon, One Scotch, One U.S. Craft Beverage Modernization and Tax Reform Subpart

Revenue Recognition

On May 28, 2014 The Financial Accounting Standards Board (FASB) and The International Accounting Standards Board (IASB) jointly issued ASC 606 – Revenue From Contracts with Customers.  This change in recognizing revenue from contracts with customers could have a...
One Bourbon, One Scotch, One U.S. Craft Beverage Modernization and Tax Reform Subpart

Opportunity Lies within Opportunity Zones

An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. They are an economic development tool designed to spur economic development and job creation. Opportunity Zones...
One Bourbon, One Scotch, One U.S. Craft Beverage Modernization and Tax Reform Subpart

It’s Not a Trick… It’s a Treat!

The 529 plan, as we know it, has been improved!  Distributions (including earnings) from these tax-advantaged accounts are not included in gross income provided such distributions do not exceed the beneficiary’s qualified higher education expenses (QHEEs).  So just...
One Bourbon, One Scotch, One U.S. Craft Beverage Modernization and Tax Reform Subpart

Prepare for Year-End – Bookkeeping Checklist

As we get closer and closer to year-end, most businesses will begin to think about taxes. Now is the time to get everything in order and prepare for tax planning. By being proactive, you can get a handle of your tax situation before the turn of the calendar. Here is a...
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