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Potential Fraud in the Professional Services Industry

According to the 2018 ACFE Report to the Nations on Occupational Fraud and Abuse, companies in the professional services industry are most at risk to be

Business Income Deduction Changes May Impact Professional Services Firms

On May 9, the Ohio House of Representatives passed House Bill 166 (“HB 166”) by a significant margin. If ratified by the Ohio Senate and signed

The List of Nondeductible Expenses Continues to Grow

The Tax Cuts and Jobs Act (TCJA) has made significant changes to the tax code and the related underlying deductions available to taxpayers. These changes

How Does the Revenue Recognition Standard Affect Private Equity Firms?

The creation and adoption of the Financial Accounting Standards Board’s (FASB) Codification Section 606, Revenue from Contracts with Customers, (ASC

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Professional Service Firms - Are You Ready for the Implementation of the New Lease Standard? What Are the Five Key Questions to Ask?

Professional service firms will be required to adopt Accounting Standards Update (ASU) 2016-02 Topic 842 - Leases (ASU 2016-02) in the upcoming years.

It's Never Too Early to Plan for Your Successor

In the past year, we have worked with clients in a variety of industries to address succession matters. Some industries seem to have a more natural succession

Advisers Longing Clarity on Qualified Business Income Deduction

When the Tax Cuts and Jobs Act (The Act) was signed into law at the end of 2017, questions arose immediately regarding the applicability of the 20% deduction

Funding for Start-Up Companies

“I have developed the next groundbreaking software tool, but how can I obtain funding in order to grow this innovation?” This is an all-too-familiar

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Accounting for Cloud Computing

Earlier this month, the Financial Accounting Standards Board’s (FASB) Emerging Issue Task Force (EITF) reached a consensus to permit the capitalization

Expense Reimbursement Schemes in the Professional Services Industry

According to the 2018 ACFE Report to the Nations on Occupational Fraud and Abuse, the median loss from occupational fraud costs the professional services

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