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The Louis Plung Blog

Find out about the latest news and trends ...

Leases: Accounting Standards 2016-02

by Richard Stephenson
Even though effective dates for ASU 2016-02 appear to be far in the future, companies should think about preparing for this new standard sooner rather than later because of FASB's new revenue recognition.

Contributions vs Exchange Transaction for Not-for-profits

Contributions
by Richard Fischer
On June 21, 2018, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. Read more

Internet Merchant Sales Tax Alteration

Shopping Cart
Looming changes may be ahead leading to internet retailers to be required to collect sales tax where they have no physical location based on a Supreme Court ruling on Thursday, June 21st. Read more

Section 199A in Review

Deduction
by Lora Ament
Passed on December 22, 2017, the new deduction referred to as the Section 199A deduction for qualified business income has limitations in terms of eligibility, the types of activities that qualify, and the amount that can be deducted. Read more

Leases: Accounting Standards 2016-02

Leasse
by Richard Stephenson
Even though effective dates for ASU 2016-02 appear to be far in the future, companies should think about preparing for this new standard sooner rather than later because of FASB's new revenue recognition. Read more

Debunking IRS Scammers

Ending Set
by Lora Ament
Every year, IRS scams continue to become more detailed as they evolve in their attempts to obtain our personal information. Take action and learn what to look for to better protect your assets in our latest piece of thought leadership. Read more

Tax Cuts & Jobs Act Highlights

Briefcase in tape
On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (TCJA) into law. This legislation is the most sweeping change in federal tax law in the last thirty years. Read more

PA Act 43 of 2017

Pennsylvania Sign
by Lora Ament
While federal tax reform is still being debated, Pennsylvania has enacted several tax changes in an effort to close the state's multi-billion dollar budget shortfall. On October 30, 2017, House Bill 542 was signed into law as Pennsylvania Act 43 of 2017. Read more

Protecting Your Identity After Equifax

If you are one of the 143 million people affected by the Equifax data breach and had your personal information compromised, there are steps that you can take to protect your identity. Read more