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Senate Finance releases Build Back Better text

Senate Finance releases Build Back Better text

Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires' tax.
Proposed amendments to section 1202: Effect on federal tax liability

Proposed amendments to section 1202: Effect on federal tax liability

Under the BBB Act, only the 50% gain exclusion would be available to taxpayers that sell QSBS. How would this affect their tax liability?
Looking ahead to 2022

Looking ahead to 2022

Nearly two years into the pandemic, there are signs that the worst of a once-in-a-century shock to the global economy is beginning to fade.
Corporate leadership: Resilience and reinvention

Corporate leadership: Resilience and reinvention

Boards of directors that help instill resilience and encourage reinvention will help their companies endure and grow from crises.
Year-end accounting and tax issues update for financial services

Year-end accounting and tax issues update for financial services

Watch our recorded webcast where leaders from RSM's financial services practice will give a year-end accounting and tax issues update.
IRS releases guidance on Q4 removal of employee retention credit

IRS releases guidance on Q4 removal of employee retention credit

Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
Proposed ASU: ASC 326, Financial Instruments – Credit Losses

Proposed ASU: ASC 326, Financial Instruments – Credit Losses

The FASB recently issued a proposed ASU, which addresses certain loan refinancings, restructurings and writeoffs.
SEC accounting guidance for “spring-loaded” compensation awards

SEC accounting guidance for “spring-loaded” compensation awards

The SEC Staff recently issued guidance regarding the recognition and disclosure of compensation costs for "spring-loaded" awards.
Family office constitution: A governance framework built to last

Family office constitution: A governance framework built to last

The keystone of a family office governance framework is a constitution that provides guidance during transitions and times of conflict
Is your health care organization positioned to compete on value?

Is your health care organization positioned to compete on value?

Watch our video to learn why a price strategy and complying with the transparency rule is so important today and how we can help.
Outsourcing for nonprofits: Buyer’s guide

Outsourcing for nonprofits: Buyer’s guide

Important points for nonprofit leaders to consider when hiring a managed service provider for outsourcing services.
IRS releases guidance on timing of tax-exempt income for PPP loans

IRS releases guidance on timing of tax-exempt income for PPP loans

IRS releases Rev. Procs. 2021-48, 2021-49 and 2021-50 to address the treatment of tax-exempt income for PPP loans.
Disclosures by business entities about government assistance

Disclosures by business entities about government assistance

The Accounting Standards Update (ASU) 2021-10 is intended to increase transparency by requiring business entities to disclose information about certain types of government assistance they receive.
ASU 2021-09: Discount rate for lessees that are not PBEs

ASU 2021-09: Discount rate for lessees that are not PBEs

ASU 2021-09 allows lessees that are not PBEs to make the risk-free discount rate election by class of underlying asset.
Nonprofit operations: Solving challenges through outsourcing

Nonprofit operations: Solving challenges through outsourcing

These four nonprofit organizations improved their efficiency by outsourcing their financial operations to RSM.