MARCH 2017

“Yours, Mine, or Ours?” Part 1: Determining Community and Separate Property in a Divorce

It is often estimated that approximately half of all U.S. marriages end in divorce. While some may consider this statistic to be common knowledge, what is less well-known is how divorcing couples should go about dividing their assets and liabilities. Thus, “Yours, Mine, or Ours?” is a three-part saga that explores the story of Bob [...]

February 22nd, 2017|INDIVIDUAL TAX, MARCH 2017|

How to Make Your Audit Committee Set-Up Process Squeaky Clean

When it comes to governance, there are many misconceptions. Consider the myth-or-fact statements below. Fact. Governance practices – such as written policies, a trained and informed board of directors, and strong internal controls – are important for protecting the business and its owners. Myth. Although not a requirement for privately held companies, a knowledgeable and [...]

February 22nd, 2017|GOVERNANCE & RISK ASSESSMENTS, MARCH 2017|

New and Improved Bonus Depreciation Provisions Now Available for a Limited Time Only

Any fan of late-night infomercials knows that a key part of the marketing pitch is that final offer that pushes the perceived value of the package well past the asking price. Similarly, the extension of bonus depreciation is the literal “bonus” of the Protecting Americans from Tax Hikes (PATH) Act that can deliver impressive value [...]

February 22nd, 2017|MARCH 2017, TAX SPECIALTY SERVICES|

A Snapshot of the FASB’s New Goodwill Impairment Standard

With digital cameras, taking a photograph is typically a simple process with two steps: point and shoot. Another two-step process – according to a recently issued mandate from the Financial Accounting Standards Board (FASB) – is the goodwill impairment test. The FASB’s new goodwill impairment standard eliminates Step 2 of the test, thereby reducing the [...]