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Preparing for health care M&A: Accounting implications and best practices
Explore strategies for successful health care mergers and acquisitions, including due diligence, valuation and post-transaction accounting.
Tax Court reaffirms IRS lack of authority to assess Form 5471 penalties
Tax Court’s national jurisdiction gives taxpayers significant advantage in Form 5471 penalty disputes
Updated accounting publications on goodwill and long-lived assets
RSM’s guidance covers the complexity of accounting for long-lived assets and options under private company accounting alternatives.
How Financially Smart Are You? Take Our Quiz to Find Out!
Test your financial knowledge with our 12-question quiz on retirement planning, credit, taxes, and more. From understanding the “50/30/20” rule to knowing when you can make catch-up contributions to your retirement accounts, this quiz is a fun way to see how well you know the personal finance essentials. Take the quiz now and learn more about how to secure your financial future.
Cash vs. Accrual Accounting: Which Method Will Benefit Your Business Most?
Deciding between cash or accrual accounting for tax purposes can have a significant effect on your business’s financial strategies. This article covers the eligibility criteria for using the cash method under the Tax Cuts and Jobs Act (TCJA) and examines the advantages of both accounting methods. Businesses should carefully evaluate the method that best suits their financial structure to optimize their tax outcomes. Learn how to choose wisely and avoid unnecessary complications when switching methods. Read the full article for expert advice.
TCJA and Hobby Losses: Can You Still Deduct Your Sideline Activity’s Losses
If you have a sideline activity that consistently generates losses, the IRS may classify it as a hobby, making deductions for those losses difficult. This article breaks down the challenges of hobby-related losses under the TCJA, offering advice on how to prove that your activity is a legitimate business. Learn about the IRS’s safe-harbor rules, the importance of showing a profit motive, and factors that can help turn a money-losing activity into a deductible business expense.
FASB proposes guidance to improve interim financial reporting
The FASB’s proposed ASU establishes a comprehensive list of interim disclosures for entities that provide interim financial statements.
FASB proposes guidance on accounting for government grants
A proposed FASB ASU addresses recognition, measurement and presentation of government grants by business entities.
Strategic health care M&A requires strict capital allocation discipline, despite falling rates
As the changing rate environment affects the operating environment, we expect strategic players will evaluate more deals, at a rate above the historical averages.