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San Francisco business taxes in 2021: What you need to know

San Francisco business taxes in 2021: What you need to know

Businesses with San Francisco activity should be prepared to understand a number of recent changes and updates to city tax law.
IRS releases final 199A regulations for co-ops and their patrons

IRS releases final 199A regulations for co-ops and their patrons

Final regulations on the section 199A deduction and the DPAD for certain specified co-ops closely mirror guidance in proposed regulations.
Final independent contractor rule under the Fair Labor Standards Act

Final independent contractor rule under the Fair Labor Standards Act

The DOL has issued final regulations on the FSLA’s rules for independent contractors including gig workers, but it may be repealed.
Brexit and company taxes: What happens from Jan.1, 2021?

Brexit and company taxes: What happens from Jan.1, 2021?

A look at the impact of Brexit on tax treaties and on the operation of tax law internationally in the new year.
Ongoing updates to Coronavirus: Financial reporting considerations

Ongoing updates to Coronavirus: Financial reporting considerations

Our coronavirus white paper has been updated for financial reporting matters related to the Consolidated Appropriations Act, 2021.
Updates to our hedging guide for reference rate reform

Updates to our hedging guide for reference rate reform

We have updated our hedging guide to refer to certain temporary optional expedients and exceptions included in ASC 848.
Treasury issues final aviation excise tax regulations

Treasury issues final aviation excise tax regulations

Final air transportation excise tax regulations provide rules for aircraft management services exemption and update prior regulations.
FASB clarifies scope of reference rate reform guidance

FASB clarifies scope of reference rate reform guidance

The FASB has clarified that certain ASC 848 expedients and exceptions apply to derivatives affected by the discounting transition.
Employee retention tax credit significantly expanded for 2021

Employee retention tax credit significantly expanded for 2021

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
Deferred tax asset valuation allowance

Deferred tax asset valuation allowance

Our article discusses weighting evidence in discerning whether a valuation allowance should be recognized for deferred tax assets.
RSM US Middle Market Business Index: Middle market reopening, part 2

RSM US Middle Market Business Index: Middle market reopening, part 2

To be successful, middle market organizations need to start thinking about how to further operationalize their collaboration.
IRS partially finalizes passthrough interest limitation regulations

IRS partially finalizes passthrough interest limitation regulations

Final regulations address self-charged interest and trading partnerships, but reserve on tiered partnerships and other items.
IRS and Treasury release final carried interest rules

IRS and Treasury release final carried interest rules

Final carried interest regulations ease rules for capital interest allocations as well as related party transfers.
Additional section 163(j) final regulations released

Additional section 163(j) final regulations released

New final regulations include rules for CFCs, depreciation/amortization ‘add-back recapture’ and self-charged interest.
Nexus in a post-Wayfair world

Nexus in a post-Wayfair world

Business and professional services providers should consider whether sales tax collection is necessary in the wake of the Wayfair decision.