Cheers to the New Year!
From all of us at Kirsch Kohn & Bridge CPAs and Advisors, sending wishes of warmth, joy and tranquility this holiday season. Continue Reading Happy Holidays 2023
Updated rules have been approved that will require more detailed disclosures on income taxes to help stakeholders better understand your company’s tax position. Here’s what you should know. Continue Reading FASB approves updated rules for disclosing income taxes
Can you name the three reports that make up a comprehensive set of financial statements under U.S. GAAP? To get a holistic assessment of your organization’s performance, it’s important to look beyond profits. Continue Reading Financial statements at a glance
Should your company report tax positions taken (or to be taken) on tax returns before they’re resolved with the tax authorities? Here’s an overview of the accounting rules for uncertain tax positions under U.S. GAAP. Continue Reading Reporting UTPs on your financial statements
We wish you a safe and festive 4th of July holiday with your family and friends. Continue Reading Happy 4th of July
Are you fed up with all the recent accounting rule changes? For many private companies, the new lease standard that went into effect in 2022 was the last straw. Here’s an alternative reporting framework to consider. Continue Reading Why some small businesses are switching to tax-basis reporting
As costs rise, investors and lenders are eyeing profits closely. Here’s the latest development on the FASB’s project to up the ante on expense disclosures. Continue Reading FASB votes to exempt private companies from disaggregation of income statement project
What types of information and procedures do auditors use to verify account balances and transactions? Anticipating document requests and inquiries can help make your next audit more efficient. Continue Reading Close-up on sources of substantive audit evidence
For many of your nonprofit’s staffers, high inflation equals high anxiety. In this time of economic uncertainty, prioritize candid communications so employees’ worries won’t affect their work. Continue Reading Operating reserves can help cushion financial blows
Nonprofits that embrace accountability can generally expect improved collaboration and better outcomes. How can your organization put this abstract concept into practice? Continue Reading Putting accountability into practice
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Advantages of keeping your business separate from its real estate
/in Tax/by KKB CPAsIt may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t always advisable. Here’s a look at the issues. Continue Reading Advantages of keeping your business separate from its real estate
Cutoffs: When to report revenue and expenses
/in Tax/by KKB CPAsDoes your company follow the cutoff rules? Loose interpretation of the accounting rules can lead to errors and unexpected audit adjustments. Here’s how to get it right. Continue Reading Cutoffs: When to report revenue and expenses
Help ensure your partnership or LLC complies with tax law
/in Tax/by KKB CPAsGuaranteed payments to partners and payments to retired partners are just two of the tax issues that should be addressed in your partnership (or LLC operating) agreement. Here are the details. Continue Reading Help ensure your partnership or LLC complies with tax law