Jan 14, 2019 | Assurance, Firm Updates
Effective for annual reporting periods beginning after December 15, 2018, all U.S. Generally Accepted Accounting Principles (GAAP) nonpublic entities are subject to the new revenue recognition guidance under Accounting Standards Codification (ASC) 606. The standard...
Jan 14, 2019 | Firm Updates, International Tax
At the end of each year, the IRS adjusts certain tax items to account for inflation. The 2019 inflation adjustments were recently announced for more than 60 tax items. Of those, here are some of the adjustments related to international tax items: Inflation Adjustments...
Jan 9, 2019 | Firm Updates, Individual Tax
While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019. Here’s a closer look. 1. Medical expense deduction threshold With rising health care...
Jan 8, 2019 | Firm Updates
Accounting and business consulting firm Sciarabba Walker & Co., LLP announced the promotion of Renata Dabrowska to partner, effective January 1, 2019. With Ms. Dabrowska’s promotion, women now make up 50 percent of the firm’s partners. Ms. Dabrowska joined...
Jan 7, 2019 | Firm Updates, Individual Tax
The Tax Cuts and Jobs Act suspended miscellaneous itemized deductions, including the deduction for unreimbursed employee business expenses (expenses ordinary and necessary to your profession, but not reimbursed by your employer). Under the old law, some employees who...
