Articles From Lumsden McCormick
FASB Report - Accounting Alternative for Private Entities in Evaluating Triggering Events for Goodwill Impairment
Posted by Michael Grimaldi on April 13, 2021
The FASB issued ASU 2021-03 (“ASU”) to provide private companies and not-for-profit entities (“NFPs”) with an accounting alternative to evaluate triggering events for goodwill impairment only as of the end of each reporting period, whether they report on an interim or annual basis.
Posted by Kathleen Strobele on April 13, 2021
Employees who choose to participate in employer-provided flexible spending accounts (FSAs) can realize several tax benefits. Recent legislation provides participants with an even greater incentive to contribute to these accounts.
Posted by Kevin Smeader on April 13, 2021
The American Rescue Plan Act liberalizes the child and dependent care credit for 2021. But the changes won't help high-income households.
Posted by Megan Morris on April 12, 2021
Under the 2020 ERC rules, 50% of qualified wages and healthcare expenses (up to $10,000 of wages per employee in 2020) are fully refundable if paid by businesses that experienced a full or partial suspension of their operations or a significant decline in gross receipts.
Posted by Cheryl A. Jankowski on April 08, 2021
Review some of the specifics of Biden’s proposed tax changes and how they would affect individuals and households.
Posted by Kristin Re’ on April 08, 2021
Generate cash from your past and future investments to develop or improve software.