The Tax Code includes two credits that can help taxpayers reduce higher education costs: the American opportunity tax credit (AOTC) and the lifetime learning credit (LLC). You can claim both credits on the same return, but not for the same student or the same qualified expenses. The two credits have numerous characteristics in common, but [...]
With the change of seasons, that means that year-end tax planning is right around the corner and will require your full attention very soon. Although there were a number of tactical strategies proposed and utilized during the most recent tax filing season under the latest changes from the Tax Cuts and Jobs Act (TCJA), 2019 [...]
Although it’s been almost a year since the new revenue recognition standard officially went into effect for public companies, many industries are continuing to struggle to understand and implement the complex new rules. In fact, many manufacturers and distributors are finding that adopting the new standard requires changes in everything from their accounting processes and [...]
Commercial Real Estate Owners: Be Sensitive to How the New Lease Accounting Standard Will Affect Tenants
A huge sigh of relief could be heard when the Financial Accounting Standards Board (FASB) voted to approve a one-year deferral of the effective date of the new lease accounting standard for nonpublic companies. The one-year deferral comes at a time when most private companies and nonprofits are still working to comply with implementation of [...]
CRI Partner AJ Bowers is presenting at the Public Trust Advisors 2019 Public Finance Workshop on October 17, 2019, at the Hotel Parq Central. AJ's presentation will cover GASB 84, Fiduciary Activities. He will discuss the process for making the determination, provide examples of administrative and direct financial involvement, and review fiduciary fund types.
Carr, Riggs & Ingram Houston would like to congratulate Tram Nguyen on recently passing the Certified Anti-Money Laundering Specialist (CAMS) exam. We are proud to have you on the CRI team!
No matter how many times innocent people become victims to Ponzi schemes, it continues to happen both with alarming regularity and extraordinary costs. What are Ponzi Schemes? Ponzi schemes first evolved when Charles Ponzi began enticing innocent people to invest in something with the promises of an abnormally high return. Ponzi would explain the rationale [...]