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Professional Services

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Revenue Recognition Considerations for Engineering Firms

In August 2017, the FASB issued guidance for engineering firms in connection with the implementation of ASU 2014-09 and the five-step model. Step One requires ... read more >

Revenue Recognition Considerations for Software Companies

In August 2017, the FASB issued guidance for software companies in connection with the implementation of ASU 2014-09 and the five-step model. Step One ... read more >

Impact of Tax Reform on Professional Service Organizations

The Tax Cuts and Jobs Act (The Act) was signed into law on December 22nd and brings with it the most sweeping changes to the Tax Code in more than 30 years. ... read more >

Tax Reform Update Series - Professional Service Companies Implications

On November 2, the U.S. House of Representatives released the draft Tax Cuts and Jobs Act (H.R. 1) (Act) which includes many provisions that could have ... read more >

Accounting for Phantom Stock Plans

One appealing option for the owners of professional service firms that do not want to relinquish equity is a phantom stock plan. Phantom stock plans are ... read more >

MOBILE WORKFORCE LEGISLATION APPROVED BY HOUSE

The U.S. House of Representatives approved the “Mobile Workforce State Income Tax Simplification Act of 2017” (H.R. 1393) on June 20, 2017. ... read more >

Guaranteed Payments Are the Only Amount Subject to Self-Employment Tax, Right?

On Wednesday, April 12, the Tax Court issued a memorandum decision Castigliola¹ that addressed the self-employment tax characterization of income ... read more >

Enterprise Software for the Growing Small Business

Does a small/medium-size business (SMB) need an enterprise software application, and will the cost outweigh the benefit? Let’s first define enterprise ... read more >