Where is the NAFTA Now?
Posted by Carlos Calderon on June 17, 2019
Carlos Calderon
After Mexico, Canada and the USA officially signed the United States-Mexico-Canada Agreement (USMCA) in November 2018, many of us may have expected immediate action. Clearly, that was not the case! It is expected that this new agreement will bring more investment opportunities to promote the creation of jobs, effectively positioning North America as the most competitive region worldwide.
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Do You have to Adopt the FASB Revenue and Lease Standards?
Posted by Julie Killian on June 11, 2019
Do you provide monthly or quarterly financial statements to your bank or other stakeholders? Are those financial statements required to be prepared using US GAAP standards?
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Common GAAP Violations for Manufacturers
Posted by Kevin Johns on May 16, 2019
Across the manufacturing sector, there is a great amount of diverse strategies, footprints, and segment approaches as they deal with artificial intelligence augmented reality and the ever-increasing spread of robotics. From an accounting standpoint, the one thing that often unites these companies together is GAAP (Generally Accepted Accounting Principles) which provides...
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Now is the Time to Prepare for Next Year’s Taxes
Posted by Clayton & McKervey on May 8, 2019
This year marked the first of many under the new tax regime set in motion by the Tax Cuts and Jobs Act. Now that you have one year of experience under your belt, you can pivot your strategies to optimize your tax positions under the new legislation. Let’s walk through four easy steps you can take to ensure that next year’s tax season goes smoothly.
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50% Meals and More: Digesting the Latest TCJA Update
Posted by Margaret Amsden on January 2, 2019
Those planning to discuss business at the next tailgate, or talk shop over eighteen holes with the intention of writing off the expense on this year’s tax return, need to think again. In the IRS’s latest notice on the Tax Cuts and Jobs Act (TCJA), changes to Internal Revenue Code (IRC) Section 274 regarding meals & entertainment, entertainment expenses are strictly off the menu.
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Before Celebrating the New Pass-Through Deduction, Know if it Will Benefit Your Business, CPA Advises
Posted by Clayton & McKervey on September 21, 2018
Clayton & McKervey has noticed business owners’ enthusiastic response to the newly enacted Internal Revenue Code (IRC) §199A or the “pass-through deduction,” as part of the Tax Cut and Jobs Act (TCJA) that became law in December 2017.
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Tips for a Good Year-End Inventory Observation
Posted by Julie Killian on October 5, 2016
As business processes become more complex, the balance between the efficiency and effectiveness of operational procedures becomes more critical to examine. With the calendar year-end …
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Tips for a Smooth Audit
Posted by Julie Killian on September 14, 2016
Whether preparing for a first-year audit or looking to simplify the existing audit process, there are proactive steps a company can take to have a smooth …
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