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ASU 2025-06: Internal-Use Software Accounting Changes
In September 2025, the FASB issued ASU 2025-06, Intangibles–Goodwill and Other–Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This ASU addresses those costs already within the scope of…
Read MoreU.S. Withholding Taxes for Payments to Foreign Persons
Whilst the United States (“U.S.”) taxes its citizens, residents, and domestic corporations on their worldwide income, nonresident individuals and foreign entities (collectively, foreign persons) are generally taxed on only four…
Read MoreEntity Selection
The entity you choose helps outline roles and responsibilities among owners, guides you in conducting your business, and provides you with exit options, among other things. This webinar will help entrepreneurs think…
Read MoreEmployee Retention Credit Extended and Expanded
President Joe Biden recently signed into law the American Rescue Plan Act of 2021 (ARPA), considered to be one of the largest economic rescue packages in US history. Under the ARPA,…
Read MoreCOVID-Related Tax Relief Act of 2020 Implications When Reevaluating Year-End Valuation Allowance for Deferred Tax Assets
As the calendar year comes to an end, companies are scrambling to finish their year-end tax planning. Assessing valuation allowances for deferred tax assets (DTAs) is complicated and requires a…
Read MorePresident-elect Biden’s Tax Plan – Tax Implications of a Changing Administration
Although appeals continue in the courts, former Vice President Joe Biden is well into his transition plan to assume the Presidency. Additionally, as of December 1, Democrats have secured a…
Read MoreIRS Releases Guidance in FAQs Regarding the Interaction of PPP Loans and the Employee Retention Credit in M&A Transactions
The Internal Revenue Service (IRS) recently updated its FAQs page and released guidance for parties engaging in mergers and acquisitions (M&A) in 2020. Because of the COVID-19 pandemic, businesses took…
Read MoreNew California small business hiring credit for 2020. Especially attractive for restaurants and retail industries
Small businesses are able to get a nonrefundable credit of $1,000 for each net full time equivalent employee addition. The total credit can range from $1,000-$100,000. The increase is measured…
Read MoreCurrent COVID-19 Related Tax Guidance for Oregon, Washington, and California
Working remotely has become the new normal for many employees on the West Coast. Although many employees enjoy the convenience of working remotely, both employees and employers need to consider…
Read MoreExecutive Order Allows Tax Deferral of Social Security Tax for Employees
On August 9, 2020, President Trump signed an executive order that allows for the deferral of withholding, deposits, and payments of the employee portion of Social Security tax from September…
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